JV Making Progress on Schlumberger Office Redevelopment Plan
Market Square Cos. and Tenon Property Co. are turning the former Houston Schlumberger office campus at 1325 S. Dairy Ashford into a mixed-use project. The developer duo will spend $40 million on the project that will be branded Ashford Yard.
They demolished the sprawling 155,000-square-foot site last year and are ready to proceed with their project, which will include retail and apartments.
The first phase will include retail buildings totaling 53,000 square feet around a green courtyard with trees. Additionally, Houston hospitality veterans Steven Salazar and Alex Tolentino expect to start construction on the 21,000-square-foot Ashford Beer Garden in about a month. Both the retail and the beer garden are slated to be completed next January.
In the next Phase, the plan is to build an apartment complex with about 350 units. Market Square Cos. and Tenon Property Co. have contracted an undisclosed multifamily developer for that project, which could break ground in mid-2027.
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ARCTRUST, Edison Equity Teaming Up on 175-Unit Austin-Area 55+ Community
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RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community
An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout