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April 20, 2010
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ThinkCash Expansion; Deal Sheet
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Did you enjoy our DFW State of the Market last week? Well, we're having one in Houston. If you need an excuse for a road trip, load the pickup and join our Breakfast & Schmooze on April 29.
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| Fort Worth-based online credit lender, ThinkCash, Inc, renewed and expanded its office space by 21k SF. It'll now occupy 63k SF on the third, fourth and seventh floors at 4150 International Plaza. |
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| The International Plaza Building will be renamed the ThinkCash Building. Signage is expected to be mounted to the roof line by the end of the 2Q. ThinkCash added space to accommodate its growing business and address both short- and long-term growth needs, says UGL Equis SVP Jim Lob, whose office repped the tenant. The building owner is General Electric Credit Equity, and it was repped by GVA Cawley leasing director John Grace. |
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| 82k SF Warehouse Sale |
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| An undisclosed investor (we could tell, but we're modest and like to pretend there are some things we don't know) purchased a new 82k SF warehouse at Frankford Road and Commodore in Frankford Trade Center. Argent Property Company completed the build-to-suit for Rexel Worldwide. Colliers International EVPs Joe Garrett and Tom Pearson repped both Argent and the purchaser. Argent's Jonathan Stites facilitated the transaction. Tom tells us Frankford Trade Center is a great location for warehousing and distribution, representing a great long-term investment for the investor client. Rexel consolidated its branch, regional, and division operations into this facility. |
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Sales
The Colliers Ownership Advisory Group’s Phil Rosenfeld, Matt Thompson and Eric Goldberg repped the owner and former occupant, RHR International, in the sale of 17766 Preston Road in the Georgetown Office Park in Dallas. The 8k SF single-tenant, two-story office building will be used by an owner occupier.
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Looking for a Dallas-area building to accommodate the space needed to consolidate local offices, JRDC Partners acquired a 22k SF, two-story office building at 3340 Roy Orr Blvd. in Grand Prairie. Built in 2000, the building is situated on 10.5 acres. Henry S. Miller Brokerage’s Pete and Drew Richardson repped the buyer. Steve Johnson Commercial Realty’s Carolyn Albert negotiated for seller, G.I.T.F, LP.
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Leases
CBRE leased 91k SF of office space at 2100 McKinney Ave. in Dallas from Metropolitan Life Insurance Company. CBRE’s Celeste Fowden and Worthey Wiles represented the landlord while Jeff Ellerman and Phil Puckett brokered for the tenant.
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Three companies signed new leases at Hall Office Park in Frisco with former director of leasing Jean C. Farris and leasing associate Tammy Lomonaco negotiating all three for owner/landlord, Hall Financial Group.
- Foundation One Insurance Services, Ltd. renewed its 2k SF lease at 2601 Network Blvd.
- PNC Mortgage signed a new five-year lease for 2k SF at 6801 Gaylord Pkwy. Transwestern’s Howard Watkins negotiated for the tenant.
- Genworth Life Insurance Company renewed its 1k SF lease at 2595 Dallas Pkwy. Colliers International’s Mary Stoner-Yost repped the tenant.
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The Wire Connection, Inc. renewed a 10k SF lease in the Union Bower Business Park in the West Brookhollow industrial submarket. The Colliers Ownership Advisory Group’s Kevin Brookmole, Phil Rosenfeld and Matt Thompson represented The Hayman Company, owners of the business park.
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Gaedeke Group VP Belinda Dabliz brokered several deals for landlords in the following deals:
- Jennings, Hackler & Partners Inc. and Lawton Reprographic Centers leased 4k SF and 3k SF, respectively, in Fitzhugh Central at 4131 N. Central Expressway in Dallas.
- Anthony Properties and Preston General Contractors leased 4k SF and 1k SF, respectively, in Banner Place, 12770 Coit Road in Dallas.
- Addison Group, dba Irvin Co., leased 612 SF in Forest Ridge Plaza at 1600 Airport Freeway in Bedford.
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Bradford Commercial Real Estate Services SVPs Melanie Hughes and Sharon Friedberg represented the landlords in two deals:
- El Paso Import Co. leased 7k SF of retail space in Parkway Centre at 13450 Inwood Road in Dallas from Liberty Bankers Life Insurance Co. Venture Commercial Real Estate’s David Schnitzer represented the tenant.
- Residential Strategies Inc. leased 4k SF of office space in Bent Tree Plaza III, 16660 N. Dallas Parkway, Dallas, from ARI Forum LLC. GVA Cawley’s Jeff Sheehan represented the tenant.
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Bradford VP Brian Pafford represented the landlord in the 10k SF lease by U.S. Radio Frequency Corp. for flex space in Las Colinas Distribution Center 4 at 3248B Skyway Circle N. in Irving from James Martino Childrens Ltd.
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Sherwin Williams leased 3k SF at the NEC of Royal Lane & US 75 in the former Blockbuster. The Retail Connection’s Scott Rose represented the landlord and TRC’s Terry Syler repped the tenant.
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Charming Charlie leased 9k SF in the Arlington Highlands at I-20 and Matlock Road in Arlington. TRC’s John Doubleday, David Sacher, Alan Shor and Josh Beliak repped the tenant. TRC’s John Mathes and Jeremy Zidell brokered for the landlord, Arlington Highlands.
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Stream Realty senior associate Tommy Nelson repped several lease deals including:
- Brokering for the landlord in the 11k SF renewal for Asset Intertech at 2201 North Central. Jackson Cooksey’s Melissa Holland represented the tenant.
- Representing the landlord, Pearson Group, in two lease renewals for Sonus Networks (19k SF) and Syska Hennessey (3k SF) at 1130 East Arapaho. JLL’s Scott Collier repped the tenants.
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Hudson Peters Commercial’s Scott Jackson represented Bennigan’s Franchising Company in its relocation lease of 3k SF to Prestonwood Tower at 5151 Belt Line Road in Dallas. The landlord was represented in-house by Melissa Miller.
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LG Electronics extended its lease and expanded from 100k SF to 165k SF at 2153 Eagle Parkway in Fort Worth from Alliance No. 1 Building Partners. CBRE’s Seth Kelly and Ryan Keiser negotiated for the tenant. Hillwood’s Steve Aldrich represented the landlord.
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CBRE’s John Woolsey, Warren Willey, Jordan Buis and Searcy Ferguson repped Concentra Health Services Inc. in three leases including:
- 8k SF of office space at 800-806 Haddonfield Road in Cherry Hill, N.J., from Mehmet Dogan Okumus.
- 6k SF of office space at 140 North Street in Teterboro, N.J., from Charles Klatskin.
- 6k SF of office space at 8780 Rivers Ave in North Charleston, S.C., from Laramie Associates Inc.
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Wal Mart Stores East leased 25k SF of industrial space at 6601 Will Rogers Blvd. in Fort Worth from Mereken Land & Production Company. CBRE’s Bob Scully repped the tenant.
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Sullivan/Perkins Inc leased 7k SF of office space at 2811 McKinney Ave. in Dallas from 2811 McKinney Ltd. CBRE’s John Roper negotiated for the tenant. PM Realty’s Nathan Durham represented the landlord. John also repped Nelson & Associates Interior Design and Space Planning, Inc. in its 4k SF lease at 12400 Coit Road in Dallas from American National Insurance Company. Capstar Real Estate’s Robert Powell represented the landlord.
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Direct Energy LP renewed its lease of 4k SF of office space at 909 Lake Carolyn Parkway in Irving from SP III 909 Lake Carolyn Parkway LP. CBRE’s Bill Lokey, Jr. and John Fancher repped the landlord.
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Mills & Williams LLP leased 4k SF of office space at 5910 N. Central Expressway in Dallas from Premier Place of Dallas. CBRE’s Dennis Barnes and Clay Gilbert repped the landlord. Swearingen Realty Group’s Alan Thomas represented the tenant.
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Innvision Hospitality Supply leased 3k SF of showroom space at 1500 Hi Line in Dallas from CBRE’s Lucy Toland Murphy. CBRE’s Harlan Davis and Chris Herrmann brokered for the tenant.
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GSA leased 40k SF at 150 Westpark Way in Euless. SCM Real Estate Services brokerage associate Darrel Higginbotham negotiated for the landlord.
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Chef Chris Mendez, owner/operator of North Texas Catering, relocated operations to a new facility at 5900 W. Interstate 20 in Arlington to a new restaurant named Reed's American Grill & Tavern. SCM Real Estate Services’ Gary Walker and Renee Efimoff represented the tenant. Wes Walters Realty’s Wes Walters of represented the landlord.
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The Medve Group leased 117k SF at 1411 W. Walnut Hill Lane in Las Colinas for its regional operations. Capstone Commercial’s Larry Robbins negotiated the deal with Colliers International’s Allen Gump.
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Execs on the Move
Jennifer Conrad joined Corgan as director of healthcare business development.
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Susan Howell joined Innovative Developers, Inc. as senior executive assistant. She is responsible for managing the office of the CEO, and manages client, employee and inter-departmental interface to ensure client satisfaction. She previously served as manager of corporate communications with IMAX Corporation.
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J. Martin Mitchell joined CBRE as managing director of asset services for its DFW operations. He will be responsible for the oversight of asset services, including property management, leasing, tenant relations, project and construction management, technical services, risk management, purchasing, energy management, and financial reporting.
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Scott Janke joined StratVisor as its new director of technology consulting. Scott's expertise will be in areas that include property, facilities, and asset management, leasing, site selection, and information management. He spent most of his professional career working for the global consulting companies Deloitte and BearingPoint (formerly KPMG Consulting).
Honors
Craig Ranch received the McSAM Award for Best Multimedia Marketing Piece given by the Home Builders Association of Greater Dallas. The piece was designed and produced by Virtual Sciences and gives a three dimensional visualization of the development, showing what Craig Ranch will look like when fully built out. Craig Ranch was also a finalist for Community of the Year and Best Magazine Ad for a Developer.
New Business
The Dallas office of HFF was retained by Wells Fargo & Company to market for sale Two Addison Circle, a 198k SF Class A office building in Addison. Two Addison Circle is located on the Dallas North Tollway at 15725 Dallas Parkway in the Far North Dallas submarket. The six-story property was completed in 2009 by Opus and is currently vacant. According to HFF, "The property represents one of the highest-quality, large contiguous vacancies in the submarket and thus should be highly sought after by both users and investors looking to acquire a trophy office property at pricing levels well below replacement cost."
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The Arlington Highlands Executive Suites at 3901 Arlington Highlands (part of the 800k SF Arlington Highlands Lifestyle Center at I-20 and Matlock Road) opened an office and business facility featuring 65 executive suites ranging in size from 120 SF to 300 SF. ABT Executive Suites will manage and lease the new office complex within the shopping center. 13 executive suites have been leased, ABT partner Patton Chapman says. The Retail Connection, Connected Management Services and Cheney & Mathes Partners made the joint announcement of the opening.
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B2B public relations firm Cooper Smith Agency launched a new flat-rate PR service catering specifically to architecture, design and construction firms, as well as affiliated design/construction/ engineering and real estate industry companies. In April 2007, the firm launched a practice area specifically focused on commercial architecture, design, real estate and construction – industries in which the firm already has a number of clients and extensive experience.
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Perkins Coie opened a new Dallas office with former Greenberg Traurig shareholder, Steven R. Smith, serving as partner in charge focusing his practice on real estate workouts and lending. The addition reflects Perkins' continuing efforts to expand its national presence through strategic acquisitions and lateral hires. Since '05 the firm has added more than 200 lateral attorneys in a variety of practice groups.
Our Bad
We left off a broker in our last Deal Sheet, so lets fix that: Data Dallas Corporation leased 19k SF of office space at 1111 West Mockingbird Lane, for its HQ. The Weitzman Group Corporate Services Division's Larry Denisoff handled negotiations with Dominus Commercial's Trae Anderson, who represented the building, which is owned by Diversified Capital out of Lakewood, N.J.
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| UPCOMING EVENTS |
| Click here to place your own listing |
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April 20 - ULI North Texas and Great Fort Worth - REC Young leader Spotlight. Vault Restaurant. 5:30-8pm. Info
April 22 - IREM-Dallas - An Evening at Cowboys Stadium. RSVP by April 16. Info
April 28 - Fort Worth CREW - Who Done It? Murder mystery fundraiser for Women's Center. Info
April 28 - ULI North Texas - Luncheon - Discuss trends in healthcare real estate development with Texas Health Resources CEO Doug Hawthorne. Info
April 29 - GFWREC - Sustainabilty Summit at Tarrant County College Trinitiy River Campus' Energy Auditorium. 8am. Info
May 06 - BOMA Fort Worth - Golf Tournament. Texas Star Golf Club. Inquiries to bomafw@swbell.net
May 06 - The Real Estate Council Foundation - Fight Night - Black-tie event features professional boxing and casino gaming. Hilton Anatole. 6pm. 214.692.3600 or More info
May 13 - Topping Out - 2010 Networking Event and Awards Program. Benefits the Arc of Dallas and UT Arlington School of Architecture. Cowboys Stadium. Info
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| Send deals and story ideas to Tonie Auer, tonie@bisnow.com |
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