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Real Estate Bisnow
The largest commercial real estate publication in the United States.
   
January 3, 2012 
 
 
JEFF DEBOER KEYNOTES JAN 12 SUMMIT

Winstead PC’s Andy Dow is moderating Bisnow’s DFW Healthcare Real Estate Summit on 1/25! He heads the firm’s healthcare real estate practice and has advised hospitals, physician groups, lenders and more. Register here.

 
We’re delighted to announce that the US real estate industry’s chief advocate in DC has been added to the all-star lineup for our Bisnow Texas Hotel Investment Summit at the Hilton Anatole in Dallas on Jan. 12. (Want us to save you a seat? Register here.)
 
Jeff DeBoer
Although the topic of the summit is hotel investment, US Real Estate Roundtable prez and CEO Jeff DeBoer (snapped near Bisneyland in DC) will speak for 15 minutes on real estate-related politics and policy we should expect from the President and Congress this year. The Real Estate Roundtable is a legendary group of top real estate figures in America, like the heads of Vornado, Taubman, Eastdil, Colony Capital, Hilton, Shorenstein, Regency Centers, Federal Realty, BOMA, the Mortgage Bankers Association, and others. Jeff is known for telling it like it is. Need the link to sign up? Find it here.

Bisnow
THE DEAL SHEET
 

NEW BUSINESS

 
Sylvan/Thirty rendering

Sylvan|Thirty’s New Year’s resolution: get the pre-construction activities, such as surveying and site prep, started early this year. The West Dallas mixed-use development got Dallas City Council approval for its zoning and recently signed Wood Partners on as co-developer with Oaxaca Interests. Wood Partners will help oversee the construction of the project. We hear the project should go vertical this spring with plans to open by the end of this year, but early 2013 is looking more likely because of months of delays in the zoning process pushing everything back. The project includes more than 200 studios and lofts, restaurants, local retailers, and an organic grocery market.

***

 

Speaking of Wood Partners, the firm closed on a five-acre acquisition in Southwest Dallas and will start construction this month on Alta West Davis, a low-rise apartment community in North Oak Cliff. The 207-unit development at 1836 W Davis will include a pair of three-story buildings with studio, one- and two-bedroom apartments. Construction is expected to be complete by Q1 ‘13 with a goal of attaining LEED Silver status. Cienda Partners is the seller, Wood Construction is the general contractor and Good, Fulton & Farrell is the architect.

***

Crescent Real Estate Holdings plans to develop a 600k SF mixed-used project on its 3-acre site at McKinney Avenue and Olive Street, adjacent to the Ritz-Carlton in Uptown. Crescent chose Pelli Clarke Pelli Architects to design the project, which will be a mixed-use project of approximately 400k SF of office, 60k SF of retail, and 50 luxury residences with final weighting to be determined by market demand. The project (which will seek LEED Gold cert) will break ground after “successful pre-leasing activity.” Crescent SVP of development Joseph Pitchford will lead the development team. Crescent managing director of leasing John Zogg will seek office and retail tenants. John says he’s already had numerous companies call about the site.

***

Behringer Harvard Multifamily REIT I entered into a new co-investment partnership with one of the world’s largest pension funds advised by Heitman. Through the partnership, the Heitman-managed entity acquired minority interests in 15 multifamily communities (totaling 4,100 units) in eight states. The properties involved in the deal are valued at more than $1B. The REIT, which has retained a majority ownership interest in all of these communities, will continue to serve as the day-to-day managing member for each community.
SALES
 
Lakeside Ranch Building 20
Duke Realty bought 1.3M SF of industrial properties including two bulk warehouses and 98 acres in Dallas across three land sites suitable for large industrial building development in two separate deals. Among the acquisitions including the 749k SF Lakeside Ranch Building 20 (pictured) in Flower Mound and the 603k SF Pioneer 161 in Grand Prairie. Two of the undeveloped land sites (a 32-acre parcel and an 18-acre site) are in the DFW Airport submarket, and the other 47-acre parcel is in the South Dallas submarket. Lakeside Ranch building and the 98 acres were purchased from Cousins Properties. Pioneer 161 was purchased from RREEF Real Estate.
 
Jeff Turner

Duke EVP Jeff Turner (pictured) tells us the acquisition jibes with Duke’s strategy to increase its investment in industrial assets in key distribution markets. The land acquisitions provide Duke with strategic positions for future large developments, he says, and will support the development of about 2M SF of new bulk warehouse space. The Lakeside Ranch 20 building is 91% leased to two tenants, HD Supply Facilities Maintenance and Owens & Minor Distribution. Pioneer 161 is fully leased to Solo Cup. CBRE’s Jack Fraker, Josh McArtor, Chris Riley, Frank Fallon, and Brian Budnick marketed Lakeside Ranch Building 20 and the three land parcels for Cousins Properties. HFF’s Jud Clements, Randy Baird, Robby Rieke, and Nick Cassavechia marketed Pioneer 161 for RREEF. Duke represented itself in both of the transactions.

***

Dr. Khalid Mahmood purchased a 12k SF MOB at 4085 Ohio Dr in Frisco. Search Commercial Healthcare & Office Real Estate’s Tim Ward and Bill Rohloff repped the buyers. Stream Realty’s Keith Fisher repped the seller, Compass Bank.

***

Libitzky Holding purchased the 128k SF office building at 1212 Corporate Dr in Irving. CBRE’s Gary Carr, Eric Mackey, and Robert Hill represented the seller, American National Bank.

***

Lee & Associates completed an almost 11-acre industrial land sale at Big Town Boulevard with Mark Graybill repping the seller, Royalton Real Estate Capital, in the transaction with the buyer, Union Pacific.

***

John Loftus purchased a 40k SF property at 10727 Composite Dr in Dallas from D & B Realty Holding (AKA Dave & Buster's). Colliers International’s Chris Teesdale, Tom Pearson, Phil Rosenfeld, and Matt Thompson repped the seller. Capstone Commercial’s Eric Morgan repped the buyer.

***

Stream Realty Partners’ Jamie Jennings and Blake Kendrick represented Bentall Kennedy (on behalf of one of its institutional clients) in the investment sale of a 60k SF industrial building at 14012 Welch Rd in Dallas. The asset was leased to AT&T Services on a long-term lease and was sold to a private investor. 

***

J. Elmer Turner Realtors’ Marc Mattox represented Good Signature Properties in the acquisition of the 57k SF Midway Office Park in Addison.

***

Structure Commercial worked multiple sales including:

  • Kim Dang bought 1200 N. Josey Ln from Binh Pham. Structure’s Eric Deuillet and Jeremy Cummings negotiated the sale.

  • Glenn Poe purchased 7274 Elm St from Waldo Silva. Structure’s Troy Morgan negotiated the sale.

  • Segars McKinney purchased a 70k SF at 1720 Bray Central in McKinney from JP Morgan/Chase. Binswanger’s Holmes Davis represented the buyer. Structure’s Bob Kent and Eric represented the seller.

 

***

Advanced Rubber Molding purchased a 45k SF building at 1202 E Avenue J in Grand Prairie. NAI Robert Lynn’s Todd Hubbard represented the buyer. Property Advisors’ Mark Skinner represented the seller.

***

Henry S. Miller Brokerage land division associate Grant Brodeur arranged the acquisition of 114.57 acres on I-35, south of Spring Creek Road with 1100 feet of frontage along the western side of the highway in the northern region of Valley View. The land was purchased from John Porter Farms by local investor, Megma, as an investment property. Megma was represented by Grant. The seller, John Porter Farms, was represented by Everette Newland Real Estate’s Everette Newland.
LEASES
 

Through the tenant rep work for LA Fitness, Venture Commercial retail brokers John Zikos and Jonathan Cooper have helped the firm secure 27 DFW locations, including its latest at the new Cityville at Cityplace. The duo repped LA Fitness in a long-term lease 50k SF lease in the new Cityville at Cityplace, which is under construction at the northeast corner of North Haskell and Hwy 75. John and Jonathan represented LA Fitness with Walt Brown Jr of Diversified Partners (the master broker for LA Fitness in the Southern US). United Commercial Realty’s Jack Gosnell represented the landlord, Cityville Dallas Haskell Ltd.

***

NAI Robert Lynn brokers repped several leases including:

  • NAI Robert Lynn’s Todd Hubbard repped the landlord, Prism Partners, in the 55k SF lease by Crawford Electrical Supply Co at 1680 Hickory Dr in Haltom City. JLL’s David Walters represented the tenant. Todd also repped landlord, Hayden Cutler Co in the Dallas Patriots almost 13k SF lease at 6400 Wuliger Way in North Richland Hills.

  • NAI Robert Lynn’s Rick Medinis repped the landlord, Prologis, in the 33k SF lease to Insco Distributing in the Northfield Distribution Center at 1300 Minters Chapel in Grapevine. Corporate Realty Advisors’ Clint Dansby represented the tenant.

 

***

Tri Pack Enterprises leased 24k SF in Champion Center at 1515 Champion Dr in Carrollton from DCT Industrial Trust. Bradford Commercial Real Estate Services market director Shawn Hall represented the tenant. CBRE’s Adam Hammack represented the landlord.

***

Stream Realty Partners inked a number of leases including:

  • Jason Moser renewed a 31k SF lease for Capital Distributing on John Carpenter Freeway.

  • Sarah Erickson and Tommy Nelson represented JP Morgan Asset Management in an 11k SF lease at Chateau Plaza.

  • Ramsey March and Sarah expanded Balfour Beatty Construction’s lease by 20k SF at Citymark. Altschuler and Co represented the tenant.

 

***

Renaissance Tower

Priority Fulfillment Services leased 78k SF of office space at Renaissance Tower in downtown Dallas from Binyan Realty. CBRE’s Dennis Barnes, Celeste Fowden, and Clay Gilbert represented the landlord. Cushman & Wakefield’s Rick Hughes repped the tenant.

***

Southwire Co inked a 242k SF lease in the Arlington Commerce Center at 4925 New York Ave in Arlington. Colliers International’s Allen Gump and Noel Hutcheson repped the tenant. Industrial Developments International’s John Leinbaugh repped the landlord.

***

Colliers International Education Services Group co-founder and director Rosanne Meier inked two deals including:

  • A 12k SF lease for The Alexander School at 409 International in Richardson. Colleague Kevin Brookmole repped the landlord, FSCP Dallas Portfolio.

  • A 16k SF lease for Overture Networks at 2360 Campbell Creek Blvd in Richardson. Granite Properties’ Robert Jimenez repped the landlord, Granite Properties.

 

***

Indoor Safari Park leased 13k SF of 6205 Coit Rd in Plano. Structure Commercial’s Jeremy Cummings represented the tenant and JBC’s Taylor LeMaster represented the landlord.

***

HomeGoods leased 28k SF at Southlake Corners Shopping Center at Hwy 114 and Kimball in Southlake from Inland Western. The Retail Connection’s Luke Wilson and David Levinson repped the landlord with co-broker Robert Aycock of Princeton Partners.
KUDOS
 

MEDCO Construction was selected the winner in the Construction Safety Excellence Competition for Building Division’s 450,001-650,000 work hours category from the Texas Associated General Contractors. MEDCO's entry will now be forwarded to The National Associated General Contractors for competition on the national level.

***

The 418k SF Rosewood Court— owned by Rosewood Court (a subsidiary of Rosewood Property Co) and managed by Stream Realty Partners—was awarded LEED Gold under LEED for Existing Buildings: Operations and Maintenance for energy use, lighting, water, and material use as well as incorporating a variety of other sustainable strategies. Bill Moebius is the director of energy and sustainability for Stream Realty Partners. Pamela Logan, is the senior property manager at Stream and manages Rosewood Court.

***

Speed Fab-Crete prez David Bloxom was elected chairman of the national 2011-2012 Design-Build Professional Certification Board, which governs the Design-Build Institute of America’s professional certification program, which was developed by and for construction and design professionals who commission and contribute to successful public, commercial, civil, and process projects. David is former president of DBIA’s Southwest Region and currently serves on its board of directors. He is also a certified DBIA instructor.
 
THIS & THAT
 
Transwestern industrial team
Transwestern’s Dallas industrial team delivered good cheer with a Santa Bar Hop the Tuesday before Christmas. Dressing up in various forms of Santa attire, some 20 brokers delivered milk and cookies (and maybe a Shiner Bock or two) to clients and friends before hitting happy hour and honoring the spirit of Bisnow with some schmoozing and boozing. These are our kind of brokers.
 
PEOPLE ON THE MOVE
 
Merriman Associates/Architects added Michel Hurst as a team leader and interior designer in its Dallas office. She will be responsible for projects on all levels including higher ed, corporate facilities, hospitality, high-density urban housing, restaurant, and medical facilities.
 
Our New Year's resolution: break more news. Will you help us? Email yours to tonie@bisnow.com.
 
 
 
 
 
Forney EDC (Batter)
 
Addison (Enjoy) DFW
 
Gaedeke (New Year) DFW
 
The Colony2
 
BOMA Dallas (Awards)
 
Bisnow Hotel DFW
 
Reznick Insights DFW
 
Bisnow Events3 DFW
 
Microsoft (Share)
 
Bisnow DFW Health DFW
 
Arent Fox Sports HOU
 
Bisnow Puppy DFW

 

 
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