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FRISCO-BOUND; THE DEAL SHEET

Dallas-Ft. Worth
FRISCO-BOUND; THE DEAL SHEET
Corepoint Health signed a five-year lease for 14k SF on the third floor of 3010 Gaylord Pkwy, in a move of its corporate HQ from Plano to Frisco’s Hall Office Park. Move-in is set for later this month.
 
FRISCO-BOUND; THE DEAL SHEET
Hall Financial Group’s management division prez Mark Depker says he’s seen a steady rise in office leasing this year, attributing much of that to the office park’s location. Hall former director of leasing Jean Farris handled negotiations on behalf of owner and landlord, Hall Financial Group. CushWake’s Jeff Eiting and Craig Jones handled negotiations on behalf of the tenant.

Sales Transactions

Stream Realty Partners’ Russell Webb represented Woodvale, Limited in the purchase of a 3k SF office complex at 464 MidCities Blvd. in Hurst. Bright Realty’s Elizabeth Villalba and Tim McNutt represented the seller, SB and T Assets Corporation.

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First Financial Bank purchased 4k SF of retail banking space at 816 S. Crowley Road in Crowley. Continental Real Estate, Inc.’s Tom Purvis represented the buyer. JLL managing director Todd Burnette and associate Will James represented the seller, BBVA Compass Bank, in the surplus property sale.

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Farmers Insurance sold a 13k SF two-story office building to a local private investment group. The new owners plan to convert the former insurance claims office into a medical training and lab facility for the School for Allied Health Professionals. SCM Real Estate Services’ CEO Gary Walker and brokerage associate Renee Guy-Efimoff repped the landlord. Fischer & Sanger’s Robert Fischer repped the buyer.

Lease Transactions

Glow Networks leased 8k SF of office space at 2140 Lake Park Blvd. from Lennox International. Grubb & Ellis’ Cribb Altman and Lee Wagner represented the lessee in the transaction. Lennox International represented itself. 

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Rochelle McCullough LLP leased 12k SF of office space at Republic Center at 325 N Paul St., from Four Point Star. Grubb & Ellis’ Daniel Rudd and Billy Vahrenkamp repped the lessee. Transwestern’s Cris Jordan represented the lessor.

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Casual Living Inc. leased 10k SF of retail space at 2595 Preston Road in Frisco from Frisco Texas Investments. Grubb & Ellis’ Dustin Griffiths represented the lessor. CresaPartners’ Josh Frieling represented the lessee.

 

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Encompass leased 12k SF of office space at 1320 S. University Dr. in Fort Worth. Centra Partners’s J. David Cason represented the tenant. JLL SVP Frank Taylor represented the landlord, OmniAmerican Bank. 

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Kapp & Miller leased 3k SF of office space at 550 Bailey Ave. in the Fort Worth Cultural District. Centra Partners’s J. David Cason represented the tenant. JLL’s Whit Kelly represented the landlord, GC Museum Partners LP, an entity of Goff Capital.

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Jackson Law Firm leased 3k SF of office space at Overton Centre I located at 4150 International Plaza in Fort Worth. JLL’s EVP David Walters and SVPs James Esquivel and Jeff Eckert represented the tenant. GVA Cawley Realty Services’ John Grace  represented the landlord, General Electric Credit Equities, Inc.

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Hall Financial Group affiliate, iWave Software LLC, signed a new five-year lease extension for its corporate HQ in Frisco, increasing iWave’s office size by 30% to 3k SF. The firm is relocating to an adjacent building within Hall Office Park to accommodate its growth.

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Dallas-based Hillwood Investment Properties leased 416k SF of industrial space to Royal Appliance Manufacturing Company as part of its Norton Air Force Base redevelopment project,AllianceCalifornia. The new, five-year lease agreement represents one of the largest of its kind this year in the Inland Empire market. Royal Appliance will lease all 416k SF of Northgate Building 10, expanding its presence in southern California by more than 65k SF. In December, Hillwood purchased Northgate Building 10 and 11 in San Bernardino, Calif., bringing the total AllianceCalifornia redevelopment project to more than 8.6M SF. Following the agreement with Royal Appliance, Hillwood is looking for opportunities to lease the Northgate Building 11, a newly constructed 609k SF industrial property.

Financing

Dallas-based Silverleaf Resorts announced the extension of its receivables-based revolving credit facility with UBS Real Estate Securities. The facility is set up through Silverleaf’s wholly-owned and fully consolidated special purpose finance subsidiary, Silverleaf Finance IV, LLC. The new initial maximum commitment amount of the variable funding note issued under the facility is $106M, which maximum commitment amount decreases to $100M on June 30. The scheduled funding period under the VFN initially ended in September 2009, but has been reinstated and extended to February 2011, and the final scheduled settlement date has been extended from September 2011 to February 2013. The interest rate will increase from Prime to LIBOR plus 5%.

Executives on the Move

Corgan announced several changes in its management team. Bob Morris, a managing principal, was named president and CEO. He is succeeding David Lind, who was named chairman of the board. Jon Holzheimer will retain the position of COO. Matt Mooney and Brian George join Corgan’s Management Committee, while maintaining daily involvement in the Corporate Studio. Corgan also named Steve Hulsey as a member of the firm’s Management Committee.

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The Beck Group expanded its healthcare team with the hiring of:

 

  • David Lopez, associate AIA, LEED AP, senior healthcare planner; expanding capability in healthcare-specific master planning services. Before joining Beck, David headed the healthcare strategic planning group at RTKL in Dallas.
  • Todd Lehmann, AIA, NCARB, LEED AP, project manager; formerly a project architect with HKS.
  • John Jacobson, AIA, senior designer; before Beck, he worked for RTKL in Dallas as a senior architect in the healthcare sector.
  • Karthik Ramadurai, AIA, LEED AP, project leader; coming from RTKL in Dallas as an architect and designer in the healthcare sector. 
  • Celeste Pratt, associate IIDA, LEED® AP, interior designer; three years of experience as an interior designer.

 

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Larry Jordan rejoined the Transwestern Dallas central region office as retail services SVP. Jordan, who had been with TW's retail services team from '97-'06, returned to the Metroplex from Mobile,AL. He will oversee the leasing of several of Transwestern’s large retail projects and work with special servicers and banks.

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Jeff Eiting joined Newmark Knight Frank’s Plano office as senior managing director. He will be responsible for extending the firm’s reach in corporate services, as well a continued focus on Dallas Fort Worth. Eiting last served as a director within the Dallas office of Cushman & Wakefield.

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The Retail Connection hired Hunter Stansbury as SVP for brokerage. Previously, he worked as Home Depot senior real estate manager. He will work in the strategy and oversight of some of The Retail Connection’s premier accounts. He also worked as senior real estate manager for emerging concepts with Brinker International.

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Jennifer Pierson was appointed national leader for CBRE's Private Client Group (PCG). CBRE Private Client Group is part of the CBRE Investment Properties Group and serves the real estate investment needs of individual investors. Jennifer will be responsible for managing the PCG's Central Region and will have overall responsibility for the management of PCG nationally. Counterparts Jeffrey Ackerman from CBRE's Pittsburg office and Christina Roush from CBRE's San Diego office will manage the Eastern and Western Regions respectively. All three will continue to serve clients in their respective markets in their traditional brokerage capacity. CBRE appointed Dallas-based Stephanie Seno as associate director to support all three national managing directors in the day-to-day administration of initiatives and communication with the PCG practice nationally.

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Kim Vincent Butler will join Hall Financial Group as director of leasing on March 1. Butler will spearhead marketing and leasing efforts for the company’s office portfolio including Hall Office Park in Frisco. She replaces Jean Farris, who retired after 25 years in the commercial real estate business in Dallas. Kim spent 25 years at Transwestern, where she was responsible for the leasing and marketing in the Dallas market, as well as assisting clients in underwriting potential acquisition and development opportunities.

 

Association News

CREW Dallas (Commercial Real Estate Women) announced its 2010 officers and board. Jackson-Shaw’s Jill Warren is president; Locke Lord Bissell & Liddell’s Vicky Gunning is president-elect; Parmenter Realty Partners’ Cindy Cohn is secretary-treasurer; and JLL’s Marti Nemer is immediate-past president. Directors include Integra Realty Resources’ Ruth Davis; Urban Integration’s Cindy Harris; Geary Porter & Donovan’s Amy Reilly Sallusti; LYNOUS Talent Management for Real Estate’s Julie Brand Lynch; Hudson Peters Commercial’s Cincha Kostman; Hart Advisors Group’s Tanya Little; and Bradford Commercial Real Estate’s Leigh Richter.