Contact Us
News

Buyer for Valley View? The Deal Sheet

Dallas-Ft. Worth

Want to get a jump-start on upcoming deals? Meet the major Dallas-Fort Worth players at one of our upcoming events!

Buyer for Valley View? The Deal Sheet

It looks like there may be a buyer for the receiver-operated Valley View Center, JLL SVP Rick Vita tells us. The shopping center was ranked sixth in the Top 10 list of delinquent retail loans in the US, according to Trepp analyst Spencer Hollerith.

 
Valley View Center

Rick has been serving as the receiver for the more than 1.6M SFmall since last summer. Yesterday, he told us that he's currently reviewing a sales package for the shopping center. Valley View Center's $125M fixed loan has matured, and it's time to make thatballoon payment, according to Trepp. Last July, special servicer LNR Partners took over Valley View from owner Macerich Co. Rick says he's been running the business as usual until it gets sold.

 
Bisnow Stooge JDFW
 

Bisnow

LEASING

 

The Fort Worth Star-Telegram inked a 64k SF lease in the Commerce Building (which will be renamed the Star-Telegram Building) at 307 W Seventh St. The newspaper sold its existing building at 400 W Seventh St to MorningStar Capital, which is led by former XTO top dog Bob Simpson. JLL?s Todd Burnette and Matt Montague repped the Star-Telegram in the sale and the lease.Darrah Smith with Darrah Smith Commercial Real Estate repped the landlord.

***

GSA leased 27k SF at 2250 W John Carpenter Frwy in Irving from 6600 E Campus. CBRE's Dennis BarnesBill Lokey Jr, and John Fancher represented the landlord. JLL?s Amy Aldridge and Andy Leatherman represented the tenant. John and Bill also repped landlord SP Millennium Center LP in a 23k SF lease for Exeter Finance at 222 W Las Colinas Blvd in Irving. Jim Montgomery with Swearingen represented the tenant.

***

DG Fast Channel subleased 26k SF at 750 W John Carpenter Frwy in Irving from International Business Machines. CBRE's Steve RigbyPeter DannaMike KayBaron Aldrine, and Mike Clearyrepresented the sublandlord.

***

Xterprise leased 15k SF at 2304 Tarpley Rd in Carrollton from Equitable DFW II H LP. CBRE's Burson Holman and Jay Baileyrepresented the landlord. CBRE's Baron AldrineMike Kay andMike Cleary represented the tenant.

***

Providential Realty Partners' Cynthia Prendergast representedAsset Management & Disposal in a new 20k SF five-year lease at 1201 Exchange Dr in Richardson. Proterra Properties' Dan Lawsonrepresented the landlord.

***

MiBox Moving & Self Storage leased 30k SF at 10427 Sanden Dr in Dallas. NAI Robert Lynn?s Stephen Cooper represented the landlord. IC3?s Bob Ikel represented the tenant. Stephen also reppedPeach State Sports in an 11k SF lease at 10221 Corkwood Pl in Dallas. Hudson Peters? Scott Jackson represented the landlord.

***

Barsco leased 11k SF at 1401 Summit Ave in Plano. NAI Robert Lynn?s Dave Peterson and Tom Lynn represented the tenant.

***

Amarr Co renewed its 24k SF lease at 5210 Airport Frwy in Haltom City. NAI Robert Lynn?s Todd Hubbard represented the tenant.

***

923 Minters Chapel

Providential Realty Partners' Blake White repped the landlord of a Grapevine space at 923 Minters Chapel in an almost 14k SF flex space lease to an electric contractor. Transwestern repped the tenant.

***

The Room on Main leased about 10k SF of office/event space at 2030 Main St in Dallas from Good Signature Properties. Hudson Peters Commercial's Cincha Kostman and Sara Fredericksrepresented the tenant, which plans an open house from 6-10pm on April 28.

***

E2 Open leased 12k SF of office space at 5420 LBJ Frwy in Dallas from Teachers Insurance and Annuity Association of America. CBRE's Michelle Donaldson represented the tenant and Cousins Properties' Meredith Durham and Matt Schendle represented the landlord.

***

North Dallas Tumble and Cheer leased 13k SF of warehouse space at 3311 Boyington in Carrollton. Capstone Commercial's Larry Robbins represented the landlord and Jason Miller of Bradford Cos represented the tenant.

***

 

Willbros Group signed a new long-term lease in Carter Burgess Plaza. Willbros Engineers will occupy almost 11k SF on the seventh floor next month. Jones Lang LaSalle SVP Whit Kelly represented the owner, MS Crescent One SVP, and Transwestern's Kirk Kellyrepresented Willbros.

***

Half Price Books inked an 11k SF industrial lease at 7546 Pebble Dr in Fort Worth. Lee & Associates? Tyler Baucom, Nick Holbeck andDonnie Rohde represented the Landlord, S & K Management. 

***

Watters and Watters signed an 18k SF flex space lease at 4801 Spring Valley Rd in Farmers Branch. TIG Real Estate Services?Michael Grant and Ryan Wolcott represented the tenant.

***

Aquire Solutions leased almost 12k SF of office space at 400 E Las Colinas Blvd. Hudson Peters? Michelle Hudson represented the tenant. Capstar?s Rodney Helm represented the landlord.

***

Value Lighting signed an almost 29k SF industrial lease at 1125 Hayden Dr in Carrollton. Lee & Associates? Nathan Denton repped the tenant.

***

Jo-Ann Stores leased a 22k SF deal in Hulen Fashion Center at 5200-5288 S Hulen St in Fort Worth. The Retail Connection?s Scott Rose repped the landlord, Orix Capital Markets. The Retail Connection?s Terry Syler repped the tenant. Scott and Terry also repped the landlord, Clearview Richardson, in the 20k SF lease ofThrift City of Richardson at the SWC of Beltline Road and Yale Boulevard in Richardson. The Gutow Co's Craig Gutow repped the tenant.

***

Zorro?s Texas Buffet leased 15k SF in the Shoppes at Melbourne at 953 Melbourne Rd in Hurst. The Retail Connection?s Mitch Trauband Scott Rose repped both the tenant and the landlord, Forest Hills LLC.

KUDOS

Austin Bridge & Road won a Construction Safety Excellence Award for the strength of the company's safety programs and overall safety performance in 2010 by The Associated General Contractors of America

***

DART was named the 2011 Transportation Owner of the Year by the Design-Build Institute of America, which recognized DART for advancing awareness, understanding and use of design-build in the transportation sector with 47% of its projects (by contract value) over the past three years.

NEW CONSTRUCTION

 

The Dallas Independent School District selected Satterfield & Pontikes Construction to build the new 185k SF Ann Richards Middle School in East Dallas. Construction has begun on the new$29.4M environmentally friendly school, which is set to open in fall 2012. Environmentally friendly elements and construction features include geothermal wells for cooling and heating, an abundance of natural lighting, use of recycled building materials, and sustainable landscape design and irrigation control. Other green features: a cool roof and an educational garden. AECOM is the project manager and PBK Architects designed the campus.

***

Frisco Trails site plan

Costco Wholesale broke ground earlier this month on a 148k SFanchor location in the Frisco Trails Shopping Center at the southeast corner of the Dallas North Tollway and Eldorado Parkway in Frisco, making it the fifth shopping center to be developed in Frisco by a Cencor partnership. Costco will also develop a fuel center on a pad site. The project is being developed by Cencor Realty Services under the direction of Cencor EVP David Palmer. The project (site plans pictured) has a targeted completion for late September. The center has a shadow anchor, Home Depot, and space for an additional anchor, as well as six available pad sites for freestanding retail and restaurant uses. The Weitzman Group'sMichelle Caplan repped the shopping center. Costco was represented by Northwest Atlantic and Tony Filley with Princeton Partners. Frisco Trails Shopping Center is leased by Cencor?s brokerage affiliate, The Weitzman Group. Additionally, Cencor will manage the shopping center.

Sales

B&C Capital bought a vacant 106k SF two-story building at 4201 N SH 161 in Las Colinas from lender Legacy Texas Bank, which foreclosed on the property.

 ***

An Ohio-based investor has paid $27.5M for an Irving apartment complex. Dayton-based Connor Group purchased theKnightsbridge Apartments at 5342 Bond St in Las Colinas. The308-unit apartment complex was built in 1996 and had previously been operated by Lincoln Property Co.

***

Seville Partners and CWA Management acquired Patriot Estates(561 acres in Midlothian) at a 75% discount inclusive of the seller's share of producing mineral interest. Patriot Estates is a multi-use tract of land with residential, retail, and industrial acreage. The property has more than one mile of frontage on Hwy 67 and is diagonally across from the Railport Development, home to distribution centers for Target, Toys 'R' Us, and QuikTrip. A spokesman for the partnership says the timing on this investment will prove very advantageous to investors as the market appears to be returning.

***

Beltline Crossing13k SF retail property at 2030 Beltline Rd in Mesquite sold for an undisclosed amount. Marcus & Millichap?sPhilip Levy and Jason Vitorino secured and repped the buyer, a private investor.

 

NEW BUSINESS

 

Stream Realty Partners was selected to exclusively lease the 90k SF six-story Class-A 4245 Uptown. Stream Realty's Sarah (Payne) Erickson and Tommy Nelson will lead the leasing team with plans to implement an aggressive marketing campaign.

***

Warrior Group will provide construction management services for renovations of the FretzPark Recreation Center at 6950 Beltline Rd in Dallas. Including interior and exterior improvements to the almost14k SF existing recreation center, the work will include mechanical and electrical system upgrades, lighting replacement, architectural finishes, and site work. Construction begins next month with a targeted January completion. GGO Architects is designing and the program manager is Pegasus/URS.

***

Scott Krikorian, Rick Coe, Kimberly Kepley

Trammell Crow's Scott Krikorian (who will be speaking at Bisnow?s DFW Industrial Real Estate Summit on Thursday, you can registerhere), CNL Financial Group's Rick Coe, and Thackeray Partners'Kimberly Kepley were part of a recent celebration as CNL expanded its Dallas presence opening a larger office in the Woodlawn Hall at Old Parkland. The company has also signed an agreement tomanage 1.1M SF of industrial space owned by Crow Holdings. Rick spent 17 years with Trammell Crow before co-founding Parkwood Real Estate Partners in 2004. He has been named managing director of investments and will focus on US acquisition and development programs for three REITs sponsored by CNL Financial Group. Also new to the Dallas team are Karen GoforthWilliam Adams, andDon Miller.

PEOPLE ON THE MOVE

Trammell Crow Co promoted Michael Duffy to COO, effective immediately. Michael oversees asset management, marketing and communications, TCC?s existing fund portfolio and legal/risk management activities. He assumes the role from Christopher Kirk, who now serves as global director of human resources for CB Richard Ellis, TCC?s parent company.

 ***

David Herbert joins Perkins Coie as a partner in its real estate practice. He joins the Dallas office and will focus his practice on real estate finance and development, acquisitions, dispositions, hotel management, leasing, loan workouts, and related matters. He has represented clients in acquisitions, development and financing of real estate projects, debt placement and restructuring matters, negotiating long-term management contracts, and negotiating and structuring ground leases and space leases.

***

Hudson Peters Commercial named Sara Fredericks as assistant VP with a specialty in office and industrial with a focus in the LBJ office corridor. She has negotiated for an international call center, completed a sale/leaseback of 353k SF for a leading manufacturer and distributor of disposable food service products. Sara began her career with Mohr Partners.

Related Topics: Self Storage, The Weitzman Group, David Palmer, Scott Jackson, Nathan Denton, asset management, Todd Burnette, Baron Aldrine, Hudson Peters Commercial, Michelle Hudson, Crow Holdings, Tom Lynn, Don Miller, Perkins Coie, Ryan Wolcott, Dave Peterson, Northwest Atlantic, David Herbert, Philip Levy, Mohr Partners, Stephen Cooper, Jason Miller, Todd Hubbard, Dennis Barnes, Cencor Realty Services, LNR Partners, Mike Kay, Capstone Commercial, Peter Danna, Hudson Peters, Steve Rigby, John Fancher, TIG Real Estate Services, Rodney Helm, Mike Cleary, Scott Rose, Larry Robbins, Jason Vitorino, Las Colinas Blvd, Tommy Nelson, Airport Frwy, Eldorado Parkway, Matt Schendle, Pontikes Construction, Beltline Road, Haltom City, John Carpenter Frwy, Carter Burgess Plaza, East Dallas, Princeton Partners, Associated General Contractors, Andy Leatherman, ProTerra Properties, Michael Grant, Teachers Insurance, Terry Syler, Michelle Caplan, Annuity Association, Meredith Durham, Minters Chapel, Thackeray Partners, Providential Realty Partners, Whit Kelly, Scott Krikorian, Sara Fredericks, Old Parkland, Valley View, Legacy Texas Bank, Jim Montgomery, Michelle Donaldson, Tyler Baucom, Bradford Commercial Real Estate, Matt Montague, Bill Lokey Jr, SP Millennium Center LP, CNL Financial Group, Nick Holbeck, Warrior Group, PBK Architects, Patriot Estates, Valley View Center, Half Price Books, Connor Group, International Business Machines, Michael Duffy, Hulen Fashion Center, Spencer Hollerith, The Gutow Co, Craig Gutow, Bob Ikel, Cynthia Prendergast, Rick Vita, Bob Simpson, Exeter Finance, Equitable DFW II, Aquire Solutions, Frisco Trails Shopping Center, Christopher Kirk, The Dallas Independent School District, Good Signature Properties, Parkwood Real Estate Partners, Willbros Group, Costco Wholesale, Willbros Engineers, Amy Aldridge, Orix