If you don't see images, click here to view
Story Ideas  .  Events 
 
To ensure delivery, please add newsletter@bisnow.com to your address book, learn how
Real Estate Bisnow
Washington | New York | Chicago | Dallas-Fort Worth | Houston | Boston | Atlanta | Los Angeles | South Florida | Baltimore | National
   
January 11, 2011 
 
The Deal Sheet

Crown Sterling have a Class-A suburban office gem: Briargrove Place on North Dallas Parkway. Get specs here, and see ad at right.

 
Duke Realty Corp leased 117k SF in its Freeport VII building in Coppell to IT asset disposition company Intechra in Freeport VII at 611 South Royal Lane.
 
Freeport VII
Duke Dallas SVP of operations Jeff Thornton tells us Freeport VII puts Intechra within one mile of DFW International Airport with immediate access to I-635, SH 121, and other major highways. The location will help it integrate with its national network of IT processing facilities. Duke VP for leasing Randy Wood says the location also enhances the storage and movement of the IT products they're retiring. The many dock doors, 32-foot clear height, and 40' x 43' bay spacing will enhance Intechra's logistical flexibility. JLL’s Forshey Hoobler repped Intechra and Randy repped ownership.

Mergers

Fort Worth’s largest CRE firm, NAI Huff Partners, merged with the Dallas office of Transwestern earlier this month. The Fort Worth office will operate under the Transwestern name with NAI Huff Partners Fort Worth leadership holding key positions within the combined organization's central region of Transwestern. NAI Huff principal Jack Huff says the merger will bring value to Transwestern’s regional and national platform. Transwestern central region prez Jack Eimer says the merger expands the firm to Fort Worth, too. This is the second major merger for Transwestern's central region in recent years. In 2004, the firm merged with Dallas-based NAI/Stoneleigh.

Financing

HFF’s been tearing up the financing world with a slew of deals including:

  • Arranging about $30M in refinancing for three multi-housing communities in DFW on behalf of Price Realty Corp. The properties include Preston Pointe in Dallas and Havenwood and Copper Creek Apartments in Fort Worth. HFF worked exclusively for Price prez Mike Ochstein to secure the three loans through Freddie Mac. The HFF team that repped Price Realty Corp was led by senior managing director John Brownlee.

  • Arranging $63.5M in financing for Inland Western for three retail properties; Lincoln Plaza in Worcester, Mass.; Lowe's/Bed Bath & Beyond in Butler, NJ; and Quakertown Plaza in Quakertown, Penn. HFF placed a blanket mortgage loan with New York Life Insurance Co. for five years. The HFF team representing Inland Western included managing director Kevin MacKenzie and directors John Taylor and Anthony Cutone.

  • Arranging $14.2M in financing for Phase One of Southpark Meadows Shopping Center in Austin, owned by Inland Western Retail Real Estate Trust. HFF worked on behalf of Inland Western to secure the five-year, 4.73% fixed-rate loan through Nationwide Life Insurance Co. Loan proceeds were used to retire the existing debt on the property. HFF will also service the loan. The HFF team repping Inland Western REIT was led by managing director Kevin MacKenzie.

***

Quadrant Realty Finance secured permanent financing for Broadway Market Center in Tyler. Randy Fleisher and Jason Piering placed the five-year, fixed-rate non-recourse loan. The proceeds were used by the borrower to refinance the shopping center, which is a 100% occupied 94k SF retail center. It’s located on seven acres at the northwest quadrant of Broadway and Rice Road.

New Assignments

The Dallas office of HFF has been retained to market for sale Centerpoint I, a fully leased 1.1M SF, Class-A distribution center in Columbus, Ohio. HFF will market it for Kirco Realty & Development.  The property is being offered without an asking price, free and clear of debt.

***

McCarthy Building Cos was awarded a transportation project by The Texas Department of Transportation. McCarthy kicked off a $6.2M project to widen a 3/4-mile section of SH 5 near Melissa. It's scheduled for April 2012 completion. The engineer on this project is Lockwood, Andrews & Newnam.

***

KBS Realty Advisors awarded JLL the exclusive leasing assignment of three Dallas buildings totaling 428k SF: Pacific Center I &II and Office Alpha in Dallas, and Parkwood Place I in Plano. The JLL team of managing director Steve Everbach and SVPs Jeff Eckert, James Esquivel, Sandie Matejek, and associates Conor McCarthy and Jordan Lane, will lead the leasing and marketing efforts.

Leases
 
1901 Windsor Place
CSC Sugar, one of the largest importers and exporters of refined sugars throughout the US and Mexico, signed a 78k SF lease at 1901 Windsor Place in Fort Worth for a major rail-served North Texas distribution center. CSC plans to use the rail spur and staging yard operated by Fort Worth and Western Railroad. Tierra Real Estate’s Robert Sawyer and Steve Schmitz repped CSC for site selection. Landlord, Conti Warehouses, was repped in-house by Ryan Wood.

***

Bank of America leased 1.26 acres of land at 6370 Camp Bowie in Fort Worth from Armstrong Camp Bowie Hilldale. CBRE’s Jeff Kittleson and Rich Flaten represented the tenant while Nathan Wood represented the landlord.

***

Devry leased 43k SF of retail space at 3733 Emporium Circle in Mesquite from Cole CC Mesquite TX. CBRE’s David Copeland, Jeff Kittleson, and Michael Meaden repped the landlord. Cushman & Wakefield’s Billy Gannon represented the tenant. The same CBRE team repped landlord KRG Cedar Hill Plaza in the almost 35k SF lease by Toys R Us at 362 S FM 1382 in Cedar Hill. SRS’ Daniel Taylor and Mark Reeder represented the tenant.

***

Ross Dress For Less leased 26k SF of retail space at 7440 McCart Ave in Fort Worth from SW McCart. CBRE’s Bob Ginsburg repped the landlord. The Tapp Co’s Jim Tapp represented the tenant.

***

Central Garden & Pet Co leased 183k SF of industrial space at 830 SW 14th St in Grand Prairie from One Eighty Two M Texas. CBRE’s John Brewer and Steve Koldyke repped the landlord while CresaPartners’ Buddy Turner and Josh Frieling repped the tenant.

***

Batesville Casket Co leased 59k SF of industrial space at 2750 113th St in Grand Prairie from ProLogis TLF. CBRE’s Dave Anderson and Tim Vogds represented the tenant.

***

Hughes Commercial Real Estate and Development’s Craig Hughes and Cushman & Wakefield’s Ashley Pope represented Daikin AC in a new 80k SF office distribution lease at 1100 N 28th Ave in DFW Airport. An affiliate of ING Clarion was the landlord. CBRE’s Steve Trese represented the landlord.

***

3701 New York Ave in Arlington
The Original Lap Desk Co signed a five-year lease for 23k SF of space at 3701 New York Ave in Arlington to relocate its sales and administration offices and doubling its warehouse space in its new distribution center at Midpoint I-20 Distribution Center in Southeast Arlington from Weingarten Realty in Houston. Weingarten’s Matt Smith brokered the deal.

***

Champion Fitness and Wellness Club leased 18k SF at 5840 Legacy Circle in Plano from The Shops at Legacy (North). Swearingen Realty Group’s Adam Brecheen and Jason Brecheen represented the tenant. CBRE’s David Reed and Rick Rensi and Retail Street Advisors’ Aaron Stephenson represented the landlord.

***

KTR Capital Partners and Kuehne & Nagel finalized an agreement to expand Kuehne & Nagel's lease space at 921 Bethel Rd in Freeport Crossing in Coppell to 70k SF. NAI Robert Lynn's Rick Medinis and John Lancaster represented KTR. CBRE's Nathan Lawrence represented the tenant.

***

Seconds & Surplus leased 47k SF at 2725 S Hwy 360 in Grand Prairie. NAI Robert Lynn’s Todd Hubbard represented the tenant and CBRE’s Steve Koldyke represented the landlord.

New Business

Corner Bakery Cafe announces plans to more than double its presence in Texas with more than 70 Corner Bakery Cafe locations. New and existing franchise partners were added with more locations in Houston and expansion into San Antonio, East Texas, and El Paso. Company-owned locations are on the horizon in Austin and greater Central Texas. Corner Bakery VP of franchise business development John LaBarge says there are 22 thriving franchise and company-owned Corner Bakery locations around the state with the prospect of adding at least 50 additional cafes in the next eight years.

Sales

Hughes Commercial Real Estate and Development’s Craig Hughes and Cushman & Wakefield’s Ashley Pope repped The Folger Coffee Co in a sale of its 250k SF coffee manufacturing plant on 183 acres to Sunny Delight Beverage Co. The firm also repped General Electric Transportation International Pool in the sale of 9.9 acres of land at 1250 Haltom Rd in Fort Worth to Farmers and Planter. The buyer was represented by Jerry Barton Co’s Jerry Barton.

***

Hartman Richardson Heights Properties purchased a 201k SF retail space at 100 S Central Expwy in Richardson from CSMC 2007-C3 Richardson Heights Village, through LNR Partners as special servicer. CBRE’s Jennifer Pierson and Beth Pierson repped the seller, LNR Partners.

Good Deeds

Jones Lang LaSalle recently supported the Dallas-Fort Worth USO chapter in December at DFW International Airport. More than 35 JLL employees hosted and served a pizza luncheon for the 240 soldiers returning to the Middle East after two weeks of R&R to serve the remainder of their tour. Additionally, JLL donated books for the USO reading room. Departing troops who are waiting for their flights to the Middle East are encouraged to visit the United Through Reading Room where they can select a book, record themselves reading the book, and have the book along with the DVD shipped to their children.

***

Ken Fischer, David Bottlinger, Brenda Scott and Chuck Koder
Moore Lawn & Garden and Moore Tree Care organized its annual food and coat drive last month for the third year. Director Ken Fischer and garden managers David Bottlinger, Brenda Scott, and Chuck Koder were among the staffers collecting food and coats. From Dec.13-18, about 670 lbs of non-perishable items were collected from clients, employees, and the community. Staff delivered the items to North Texas Food Bank. Additionally, the Moore team sponsored a coat drive with more than 50 coats benefiting H.I.S. Bridge Builders, a faith-based nonprofit that serves the low-income communities of Dallas.

People in the News

TDIndustries promoted Dave Youden to SVP and business unit manager of major projects. A 28-year veteran of TDIndustries, Dave rose through the company as assistant project manager, project manager, then senior project manager, and VP of several TD groups, including sports and entertainment and healthcare.

***

Lance McIlhenny joined CASE Commercial Real Estate Partners as senior managing director of brokerage services for Dallas. He will guide the local tenant rep efforts for the firm. Previously with JLL, he was an SVP in the corporate services division. He was a Top Achiever for 16 years at the organization, before leaving JLL in 2009 to start his own CRE venture prior to his migration to CASE.

 
Got a deal to tell us about? Shout it out to tonie@bisnow.com.
 
 
 
 
Crown Sterling (Briargrov
 
 
Hill Wilkinson (Values)
 
 
Corenet SW (Jan)
 
 
Bisnow (DC Summit)
 
 
Toby BOMA (spirit)
 
 
American Airlines DC ATL
 
 
Eagle Landscape DFW
 
 
Beck Group2
 
Advertise
 
 
CONTACT EDITORIAL                             CONTACT ADVERTISING                              CONTACT GENERAL INFO

 

This newsletter is a journalistic news source which accepts no payment for featured interviews. It is supported by conventional advertisers clearly identified in the right hand column. You have been selected to receive it either through prior contact or professional association. If you have received it in error, please accept our apologies and unsubscribe at bottom of the newsletter. © 2010, Bisnow on Business, Inc., 1817 M St., NW, Washington, DC 20036. All rights reserved.

Real Estate Bisnow Sent Using iContact