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Cushman Goes Uptown; The Deal Sheet

Dallas-Ft. Worth
Cushman Goes Uptown; The Deal Sheet
Perhaps jealous of its own clients putting ink to paper, Cushman & Wakefield will relocate its Dallas operations to the 19-story class AA Rosewood Court in Uptown, signing a 24k SF, 10-year lease with Rosewood Property Company.
 
CushWake's new office at 2101 Cedar Springs

C&W will take the 9th floor at 2101 Cedar Springs (corner of Pearl and Cedar Springs) on Aug. 1. CushWake EVP Elizabeth Trocchio says the Uptown vibrancy and business climate fit the company's strategy. Rosewood SVP Dennis King and prez Sue Fish repped the ownership. Tim Terrell and Rebecca Rambie of Stream Realty Partners' (the exclusive leasing agent for Rosewood Court) are the agents for the property. C&W's project management group, led by managing director Randy Thompson will oversee the build-out.

 
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Sales Transactions

Centric Capital Partners purchased the Panera Bread at 1700 S. University Dr. in the Fort Worth Cultural District. The 5k SF building (on 33k SF of land) was purchased for long term investment purposes. The Woodmont Company's Brad Cruickshank brokered the deal. In 2010, Centric Capital Partners will invest in excess of $25M, all cash, purchasing single tenant properties and ground leases in the Metroplex.

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O'Reilly Auto Parts, a 7k SF single tenant net leased property at 444 North O'Connor Road in Irving sold for $1.5M. Chicago's Marcus & Millichap Real Estate Investment Services' William BennettGino Lollio, and Andy Gallas had the exclusive listing to market the property on behalf of the seller, a developer. Broker Timothy Speck assisted in closing this transaction.

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Christopher Hurd purchased a 6k SF freestanding retail building at 4727 Grape Road in Mishawaka, Ind. from TXLC of Indiana. CBRE's Joe Cicardo represented the seller.

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Limited Spirits purchased a 6k SF industrial space at 1207 Kenney St. in Brookshire from Schwan's Home Services Inc. CBRE's David Sours and Kevin Kelly represented the seller.

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Grubb & Ellis Apartment REIT, Inc. acquired Bella Ruscello Luxury Apartment Homes, a 216-unit multifamily community at 250 E. Highway 67 in Duncanville. Built in 2007 on approximately 10.6 acres, the gated community is 97% occupied. The property was acquired from Duncanville Villages Multifamily, Ltd., an unaffiliated third party. Grubb & Ellis Apartment REIT financed the acquisition with cash proceeds received through its follow-on public offering and financing provided by Fannie Mae, arranged by Berkadia Commercial Mortgage. Bella Ruscello Luxury Apartment Homes is a well-occupied and well-equipped luxury apartment community that adds immediate value to Grubb & Ellis Apartment REIT, says Grubb CEO Stanley J. Olander Jr.

 

Lease Transactions

 

Transwestern's Brad Struck and Jim Hazard  repped tenants in three deals:

  • Decra Roofing Systems renewed its lease at 1185 Corporate Dr in Arlington for 25k SF; JSC Realty's Bill Bexley repped the landlord.
  • Fast Track Systems and DFM Print Pak signed leases totaling 28k SF at 920 113th St in Arlington (each taking 14k SF). CBRE's Steve Koldyke repped the landlord.

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U.S. Art Company leased 16k SF of industrial space at 3250 W. Story Road in Irving from CIVF-TX1Mo1 LP. CBRE's Adam Hammack and Steve Trese negotiated for the landlord.

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Avero LLC. leased 3k SF of office space at 6219 N. Beltline Road in Irving from BREOF AIP Dallas LP. CBRE's Michael Chiocca and John Fancher represented the landlord while Dominus Commercial's Trae Anderson represented the tenant.

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Montana Cincha relocated its retail space and operations from Denison to 130 S. Main Street in Heritage Crossing. 

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Ballroom Headquarters leased 8k SF in the Shops of Stonebriar in Frisco. The Retail Connection's Scott Rose repped the tenant and Venture Commercial's Jane Ann Stock and Don Miller repped the landlord.

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CompUSA leased 25k SF in the former Bassett Furniture building at 1600 Interstate 20 West in Arlington. The Retail Connection's John Mathes and Terry Syler repped the landlord, Diana Arlington, while NAI Miami's Ed Schmidt repped the tenant.

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Medi Weightloss leased 4k SF in the Arlington Highlands at the NEQ of I-20 and Matlock Road in Arlington. The Retail Connection's John Mathes and Jeremy Zidell repped the landlord. Globe-Med Realty Advisors' Austin Barrett brokered for the tenant.

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Shaw Flooring Services, Inc. leased 44k SF of industrial space at 2060 McDaniel Dr. in Carrollton, from Lincoln Property Company. Grubb & Ellis' Gary Lindsey represented the lessee. Lincoln Property Company's Tom Kuhlmann represented the lessor.

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Grubb & Ellis' Noreen MehdiRuss Johnson and Chris Wright represented the lessors in two transactions:

  • Enexco, Inc. leased 4k SF of office space at Turtle Creek Tower at 3131 Turtle Creek Blvd from Proman International.
  • Dr. Agustin Gonzalez leased 2k SF of office space at 1881 Sylvan Ave. from Sylvan One Partners, L.P.

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Grubb & Ellis' Heather ShoverRuss Johnson  and Chris Wright represented the lessor in two transactions:

  • Just Energy Texas L.P. leased 4k SF of office space at Fenton Centre at 1501 LBJ Freeway from Regis Property Management. Newmark Knight Frank's Richard Teixeira represented the lessee.
  • The Watchman Group leased 22k SF of office space in Lakeside Commons at 5045 Lorimar Dr. from the Zacharian Group.

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Stream Realty's Tommy Nelson and Tony Roach completed the following two lease renewals at 1130 East Arapaho: Sonus Networks, Inc. for 19k SF and Syska Hennessey Group, Inc. for 3k SF, bringing the total occupancy for the building to 82%.

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Stream Realty's Jeff Schweitzer and Tommy Nelson negotiated a 6k SF new lease with Terrell & Terrell, CPAs, L.L.P., on behalf of the ownership at The Belvedere.

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West Quarter Lounge leased 4k SF of space at 18900 Dallas Parkway in Addison. Legacy Realty Group's Bob Lazenby negotiated on behalf of the tenant. McNeff Companies' Bruce Wood and Patrick McNeff negotiated for the landlord.

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Goodman Distribution Inc. will relocate its Garland operation to a 30k SF warehouse space in Gateway East Business Center. The inbound tenant has signed a long-term lease with Northwestern Mutual Life Insurance Co., its landlord, for one of its other distribution sites in North Texas. Goodman Distribution will move into Gateway's Building II at 4009 Distribution Dr. from a nearby location in May. It was a quick deal, says Bradford Commercial Real Estate Services market director Chris Stout. Chris and Bradford SVP  Susan Singer, completed their second lease in 45 days for the  295k SF Building II, reducing a 212k SF vacancy to 106k SF. Stream Realty Partners'Damian RiveraSeth Koschak , and Blake Kendrick represented Goodman Distribution.

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Anacacho Inc leased 14k SF of retail space at 11700 Preston Road in Dallas from Mixon Investment Company. CBRE's Bob Ginsburg negotiated the lease on behalf of the landlord. Venture Commercial's Larry Leon represented the tenant.

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CBRE's Steve Koldyke and John Brewer negotiated for the landlord in three deals:

  • Lyon Workspace Products leased 67k SF of industrial space at 2725 State Hwy 360 in Grand Prairie from CWTX 360 I CC 89. CBRE's Ryan Keiser represented the tenant.
  • Fast Track Services and DFM Printpak each leased 14k SF of industrial space at 920 113th St. in Arlington from AMB Property II.

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American Flood Research renewed its 15k SF office space lease at 1820 Preston Park Blvd. in Plano from A&B Properties. CBRE's Rick Rensi and Dennis Barnes negotiated for the landlord.

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Chamber of Commerce of USA renewed its 9k SF lease at 222 W. Las Colinas Blvd. in Irving from SP Millennium Center LP. CBRE's Bill Lokey, Jr. and John Fancher repped the landlord while CRA's Jay Rigelsky and Clint Dansby represented the tenant.

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Health Care Strategies LLC leased 8k SF of office space at 275 W Campbell Road in Richardson from 275 Campbell Partners. CBRE's John Roper negotiated for the tenant while Beltway Commercial's Deborah Borum represented the landlord.

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Resource Global Professionals leased 7k SF of office space at 15301 N Dallas Pkwy. in Addison from SP US V5 Colonnade LP. CBRE's Susannah WallaceJay Bailey, and J.J. Leonard repped the landlord. JLL's Jon McNeil negotiated for the tenant.

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CBRE's Bill Lokey, Jr. and John Fancher negotiated leases on behalf of the landlord in two deals.

  • Tricolor Auto Group leased 5k SF of office space at 545 E. John Carpenter Freeway in Irving from SP III 545 E John Carpenter Freeway LP. Altschuler and Co.'s Jon Altschuler represented the tenant.
  • Standard Pacific of Texas Inc leased 5k SF of office space at 909 Lake Carolyn Pkwy. in Irving from SP III 909 Lake Carolyn Parkway LP. JLL's Josh White  represented the tenant.

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A.T.'s Electric Company leased 5k SF of office space at 1555 Valwood Pkwy. in Carrollton from AMB Property II. CBRE's John Roper repped the tenant.

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Uniquely U leased 5k SF of office space at 2418 Converse in Dallas from 144 Investments. CBRE's Susannah Wallace represented the landlord. NAI Robert Lynn's Robert Blankinship repped the tenant.

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Regus Business Centre LLC leased 25k SF of office space at 7000 North Mopac in Austin from Plaza 7000 Ltd. CBRE's Steve Rigby,Peter DannaBaron Aldrine and Mike Kay negotiated for the tenant.

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Gaddis Research International LLC leased 24k SF of office space at 1850 N. Greenville Ave. in Richardson from Richardson Technology Properties I LP. CBRE's Warren Willey and Jordan Buis repped the tenant. Maverick Commercial's Mark Aston represented the landlord.

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Unum Group leased 17k SF of office space at 5840 Legacy Circle Dr. in The Shops at Legacy in Plano. CBRE's David Reed and Rick Rensi represented the landlord, The Shops at Legacy (North) LLC. Unum Group was represented by Transwestern's Howard Watkins.

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Beverly Sue Global Services, a long term tenant at the Bank of America building at 2000 E. Lamar Blvd. in Arlington renewed its current lease for an additional term. SCM Real Estate handles the leasing and management of the building. SCM senior leasing agent Theron Bryant represented the landlord.

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Altex Computers & Electronics leased 21k SF of space in the former Barnes & Noble at 1-30 and Collins in Arlington. The Retail Connection's Terry Syler repped the tenant and TRC's Jay Ceitlin and Scott Rose repped the landlord.

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EZ Pawn leased 12k SF of space at 10025 Royal Lane in Dallas. The Retail Connection's Mitch Traub  and  Jordan Cluff represented the tenant and Thomson Realty Group's  Dane Thomson represented the landlord, Rainier Sunwest Portfolio I, L.P.

Honors for Companies

Reorganize for Resilience: Putting Customers at the Center of Your Organization” features Jones Lang LaSalle for embracing an outside-in perspective that focuses on creatively delivering value to customers instead of pushing its own offerings, says JLL COO/CFO Lauralee Martin, who was interviewed for the book.

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JLL  was also the only real estate firm recognized by the Ethisphere Institute as one of the World's Most Ethical Companies for 2010. This is the third consecutive year that JLL was named to the list

Going Green

HKS Architects has offset 100% of the annual electricity consumed at its 100k SF corporate headquarters with the purchase of 4.3M kilowatt hours (kWh) of renewable energy credits (RECs) generated by wind farms across America through the Boulder-based provider Renewable Choice Energy. This agreement allows HKS to achieve points toward LEED certification and contributes significantly to large-scale renewable energy development. This commitment aligns with HKS's focus on sustainability and innovative design, says HKS principal Kirk Teske.

Execs on the Move

 

Nestor Infanzon joined KAI Texas to run the new education and health care studio. Most recently, Nestor served as VP and senior project designer for Hellmuth, Obata & Kassabaum in Dallas.

Related Topics: JLL, Brad Struck, Lincoln Property Company, Panera Bread, Marcus & Millichap, Randy Thompson, Baron Aldrine, Dominus Commercial, Northwestern Mutual, Venture Commercial, Don Miller, Maverick Commercial, Michael Chiocca, Jon Altschuler, Trae Anderson, Blake Kendrick, NAI Global, Berkadia Commercial Mortgage, Dennis Barnes, Steve Trese, Steve Koldyke, Chris Wright, Susan Singer, Chris Stout, Mike Kay, Peter Danna, Dallas Parkway, Steve Rigby, John Fancher, Russ Johnson, Adam Hammack, Tim Terrell, John Brewer, Scott Rose, Royal Lane, Las Colinas Blvd, Tommy Nelson, Mitch Traub, Centric Capital Partners, Jim Hazard, Jay Bailey, Larry Leon, Theron Bryant, Robert Blankinship, Beltline Road, Josh White, Rick Rensi, SCM Real Estate, Rebecca Rambie, John Roper, John Carpenter Freeway, Kevin Kelly, Rosewood Court, Ryan Keiser, Bill Lokey, Terry Syler, KAI Texas, Jeremy Zidell, Gary Lindsey, David Sours, Jeff Schweitzer, Goodman Distribution, Jon McNeil, Matlock Road, Cedar Springs, Warren Willey, Jordan Buis, Susannah Wallace, Lake Carolyn Parkway LP, 909 Lake Carolyn Parkway LP, Regis Property Management, Jordan Cluff, Reilly Auto Parts, Heather Shover, Bassett Furniture, Arlington Highlands, Bob Ginsburg, John Mathes, Unum Group, Ellis Apartment REIT, Austin Barrett, David Reed, Bradford Commercial Real Estate, SP US, Howard Watkins, SP Millennium Center LP, Heritage Crossing, Joe Cicardo, BREOF AIP Dallas LP, The Belvedere, Building II, Lakeside Commons, Bob Lazenby, East Arapaho, Jay Rigelsky, Bella Ruscello Luxury Apartment Homes, Tony Roach, Legacy Realty Group, Jane Ann Stock, JSC Realty, Kirk Teske, Turtle Creek Tower, Clint Dansby, Fort Worth Cultural District, AMB Property II, Richardson Technology Properties, Mark Aston, Proman International, Damian Rivera, Jay Ceitlin, Gateway East Business Center, Sales TransactionsCentric Capital Partners, Sonus Networks, Elizabeth Trocchio, Timothy Speck, Avero LLC, Fenton Centre, Syska Hennessey Group, Deborah Borum, Colonnade LP, Texas Inc, Gaddis Research International LLC, Dane Thomson, Standard Pacific, Rainier Sunwest Portfolio