A new-to-town developer plans to replace a coworking building in North Houston with a new 345K SF industrial facility. Photo credit: Stotan Industrial Stotan Crossings 45Chicago-based Stotan Industrial acquired the 20-acre property at 711 Rankin Road to construct a cross-dock facility dubbed Stotan Crossings 45. Stotan plans to start tearing down the existing 80K SF building that houses 711 Rankin Operations, an office space operator, in the next two weeks, the Houston Business Journal reported. Construction financing was arranged by JLL and provided by First Horizon Bank. Francis Property Management secured $68.7M fixed-rate financing for a three-property Class-A multifamily portfolio totaling 940 units across Houston and San Antonio.