Frisco's Got the Goods; The Deal Sheet
Dallas-Fort Worth View count:
May 26, 2011
Frisco?s where it's at these days. The city inked a deal with Forest City Enterprises for a public/private partnership to develop a 320-acre, mixed-use project called Frisco North and, maybe more importantly, In N Out Burger opened there, too.
While In N Out isn't related to Frisco North, which will include retail, residential, office, entertainment, and hospitality components, as well as open space, public parks and municipal uses, we felt it a public service to show you a picture. Forest City is partnering on Frisco North with Ernest Mahard Jr , the land owner. For now, Forest City will start planning, designing, and engineering with a ?market-driven development schedule,? sources close to the project tell us. It's been suggested that Phase 1 could open as soon as 2015. Forest City also created a new leadership position to support its growing presence here with Brian Ratner promoted to president of Forest City Texas to oversee Texas operations from its regional office in Dallas. Forest City has its hand in the Mercantile Place on Main apartment community in downtown Dallas, as well as land projects in Dallas, Houston, San Antonio, and El Paso. Before taking this position, Brian was president of East Coast Development for Forest City's commercial group.
Herzog Development Corp plans a new 152k SF Walmart at the intersection of SH 78 and Woodbridge Parkway in Sachse on 18 acres at the northwest quadrant of the intersection. Woodbridge, located in Sachse and Wylie, has grown into an almost 2,000-acre mixed-use development since its inception in 1998. In addition to the residential component, which will consist of more than 3,300 lots as well as multifamily, the project includes commercial sites for retail, restaurants, and office. The Walmart is the first commercial piece, says developer Don Herzog. About 2,900 home sites have been developed along with the Woodbridge Golf Club. Walmart will be in the center of the 90-acre Woodbridge commercial portion in Sachse. No timeline yet for the construction of the store.
McCarthy Building Cos started the second phase of a $42M project for Tarrant Regional Water District to create 1,300 acres of wetlands near the Richland-Chambers Reservoir. Upon completion, this will be the second largest wetlands construction project in the US. (We borrowed this existing wetlands pic from TRWD to show you how pretty it is in addition to functional.) TRWD anticipates its customer base growing to 4.3M people by 2060, making this facility crucial to the long-range water supply efforts. Ultimately, this project will provide a 30% increase in water supply from Richland-Chambers Reservoir, which serves as a water source for a large portion of TRWD's 1.8M customers. McCarthy will construct 15 wetland cells, install a raw water pipeline and three sedimentation basins and complete upgrades to pump and lift stations. The project is scheduled for completion in 2013. The engineer is Alan Plummer Associates.
Cannon Commercial purchased One Hillcrest Green, a 106k SF office building in North Dallas, from 12700 Hillcrest Partners. The CBRE capital markets team of Gary Carr, Russell Ingrum, Jack Fraker, Josh McArtor, and Eric Mackey represented the seller.
Ridgemont Apartments, a 60-unit property at 2409 Ridgmar Plaza in Fort Worth sold for an undisclosed amount (but at 100% of list price) by Marcus & Millichap Real Estate Investment Services multifamily specialist Boyan Radic, who represented both the buyer and seller.
Red Ball Oxygen Co purchased 3.4 acres at 2910 Alouette Dr in Grand Prairie from Randall Industrial. Red Ball has also entered into a design-build agreement with Component Construction Co to build a new 20k SF facility and is growing its market presence in Texas. The new operation will serve as a distribution center. Michael Newsome of NAI Robert Lynn represented Red Ball Oxygen on both transactions and Randy Haefli represented both Randall Industrial and Component Construction.
A local investor purchased a 66k SF industrial building at 2606 Brenner Dr. Capstone Commercial's Eric Morgan handled the negotiations with Will Melton of Warehouse Properties.
Professional Installation Network leased 152,160 SF of manufacturing space located at 9015-9001 Sterling in Irving. Rick Medinis of NAI Robert Lynn represented the tenant, and Canon Shoults of Holt Lunsford Commercial represented the landlord.
Axia Land Services leased 10k SF of office space at 500 E Border in Arlington from BREOF Bank Texas LP. CBRE's Bryan Graham and Rick Rensi repped the landlord.
Union Standard Insurance Group inked a 56k SF lease for office space in the Urban Towers located at 222 West Las Colinas Blvd in Irving. The new lease is a relocation and expansion of USIG's current space at 122 West Carpenter Freeway in Irving. Cushman & Wakefield of Texas? Mike Gosslee, Bob Edge, Matt Heidelbaugh,Mari Jones, and Gary Collett represented USIG. CBRE's Bill Lokey and John Fancher repped the landlord, S.P. Millennium Center. USIG's offices will occupy the entire 13th floor and a portion of the 14th floor. The additional 17k SF from the company's current location will allow for additional capacity. C&W's project management group, led by Meg Hardin, will oversee construction of the new space. Move-in is scheduled for Q4.
Electronic Recyclers leased 97k SF of office/warehouse space at 500 Enterprise in Flower Mound. NAI Robert Lynn?s Rick Medinis repped the tenant and Hillwood?s Toby Rogers represented the landlord.
Suncoast Post-Tension leased 46k SF of office/warehouse space at 2215 E. Pioneer Pkwy in Irving. NAI Robert Lynn?s Robert Blankinship represented the landlord, Dallas Southern Distributors and JLL?s Ben Phillips represented the tenant.
Ball Corp leased 41k SF of warehouse space at 6601 Will Rogers Blvd in Carter Industrial Park. Jones Lang LaSalle associate Matt Montague represented the landlord. JLL SVP George Curry and managing director Kris Bjorson repped the tenant in coordination with Ball Corp?s Tom Silvers.
Hitachi Consulting Corp leased 25k SF of office space at Wellington Centre at 14643 N Dallas Pkwy. Jones Lang LaSalle managing director Brad Selner and EVP Josh White repped the tenant. K. Brent Steward with Fidelity Commercial Realty represented the landlord, Parkway.
PEOPLE ON THE MOVE
Wier & Associates elected two new associates and promoted two additional employees. Gregg Madsen was named VP. He's been the survey department manager at the firm since 2004. He became a senior associate in 2008. Jake Fears has been elected an associate. He has eight years of experience with the firm in general civil design in both the private and public sector. Casey York, network administrator, has been elected an associate of the firm. Casey is a CAD technician who has been working with Wier & Associates for more than 14 years. Brandon Long has been named a team leader. He's been at the firm since his UTA internship in 1999.
Lambert Landscape Co prez and director of design Paul Fields was recognized as the 2011 Most Outstanding Alumni Member of the Year for the Department of Landscape Architecture at Mississippi State University. This award is given to one alumni per academic year to honor an alum who's contributed to the department, the profession, and the public and whose activities have gained a national reputation and recognition in professional societies and/or media.