THE BEST SMELLING DEAL SHEET
| Duke Realty's Freeport X building will be the most aromatic industrial site by the end of this month when Scentsy unloads its moving boxes loaded up with candles. This deal brings the tally to 800k SF of new leases inked in the Freeport North Industrial Park for Duke year-to-date. | |
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| Duke SVP Jeff Thornton tells us that even in a difficult market, the premier industrial parks continue with leasing activity. The location of Freeport near the airport makes a big difference, he says. Duke owns about 6M SF in Coppell. The 146k SF Scentsy will occupy space that became vacant at the end of last year, Jeff tells us. It will serve as the company's regional distribution center and will handle about one-quarter of the company's US orders. Stream Realty's Blake Kendrick repped Scentsy. Duke VP Randy Wood repped Duke. | |
| CONSTRUCTION | |
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| Neal Richards Group topped out recently on its new medical mixed- use campus in Frisco. Designed by Boka Powell and built by Balfour Beatty, the project includes a 137k SF 54-bed surgical hospital, which will be operated by Forest Park Medical Center. There is also a 90k SF mixed-use building for medical office, retail, and restaurant users. Targeted completion is slated for May. The mixed-use building is already 60% pre-leased. *** MAPP Construction is handling the tenant build-out for Carrizo Oil & Gas' 95k SF space at One Allen Center. MAPP will work with Ziegler Cooper?s Mark Nolen and Amy Jochem to complete the interior renovation on a 13-week schedule with completion by Dec. 1. MAPP?s Doug Chaney is project manager. *** | |
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| Satterfield & Pontikes completed work for Dallas ISD to renovate and expand Kennedy-Curry Middle School in South Dallas. The project included the total renovation and modernization of the school?s three wings. S&P also constructed a 52k SF addition with cafeteria expansion, new auditorium, and library that will link the existing wings and gymnasium. PBK Architects provided design and architectural services for the $17.8M project. AECOM served as program manager. *** Caddis Partners broke ground on a 31k SF single-story MOB in Keller at the northwest corner of Keller Parkway and Bourland Road. Corgan Associates designed the project and Entos Design is responsible for the interior design. Constructing the building shell is C.D. Henderson Construction. The project is expected to be completed in March. | |
SALES A 1031 exchange purchased the Southwest Endocrinology & Diabetes, a single-tenant net-leased property in Duncanville. Tanner McGraw and Eric Bouchard in Marcus & Millichap?s Houston office were retained as the seller?s exclusive advisor. Drew Kile and Chase Bechtel in Marcus & Millichap?s Fort Worth office repped the buyer.*** JP Morgan Asset Management sold the 299k SF Legacy Place I & II to L & B Realty Advisors, which acquired the complex as an addition to its core fund. Jones Lang LaSalle managing directors John Alvarado, Jack Crews, and Evan Stone, and analyst Lauren Zimmer repped the seller. JLL SVPs Sandie Matejek and Shannon Brown took the property from 24% to 100% occupancy prior to the sale. The JLL team has been retained as exclusive leasing agents at the complex. *** American National Bank sold a 2.7-acre retail tract at the northeast corner of Bellaire Boulevard and Oakwood Lane in Lewisville. Bradford EVP Karen Simon and SVP Brian Scott repped the seller.Sonny Chung of Beam Real Estate repped the buyer, Nam Nguyen. *** | |
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| Granite Properties purchased the more than 90% leased 3333 Lee Pkwy, a 240k SF Class-A building from Equastone for an undisclosed amount. CBRE's Gary Carr, Russell Ingrum, Eric Mackey, Jack Fraker, and Josh McArtor represented the seller. | |
| LEASES Novatech leased 24k SF of office/warehouse space at 4401 Samuell Blvd in Mesquite. NAI Robert Lynn ? s Stephen Cooper represented the landlord, Exeter Property Group. *** The State of Texas renewed 12k SF of bulk warehouse space at 814 Blue Mound Rd in Saginaw from Steel Folsom Martin JV. Bradford EVP Todd Lambeth negotiated the direct deal. *** Facility Solutions Group renewed its almost 20k SF lease at 4220 N Sylvania in Fort Worth. NAI Robert Lynn?s Todd Hubbard represented the tenant. Mercantile Partners' Brian Randolph represented the landlord. *** Watters Creek at Montgomery Farm inked leases with Anthropologie and Amabel Designs, which opened recently, as well as with Ann Taylor, Savour Tapas Bar, and Frogg Caf and Creperie, which will open later this year. *** Lee & Associates completed a 22k SF office/industrial lease at 1420 Lakeside Pkwy in Flower Mound. Mark Graybill and Ken Wesson represented the landlord, Exeter Property Co. The tenant, USA DeView, was represented by Alex Payne. *** Airframe Service renewed 10k SF of office and hangar space in Westgrove Air Plaza at 4570 Westgrove in Addison from Regions Bank. Bradford SVPs Sharon Friedberg and Melanie Hughes negotiated the direct deal. *** Accident Insurance Services inked a 10k SF lease at Abrams Centre at 9330 LBJ Fwy. Cushman & Wakefield's Mike Wyatt and Robbie Baty repped the tenant. The landlord, Tremont Realty Capital, was represented by Cassidy Turley's Robert Powell and Audrey Ausburn. *** Ovation Travel signed a 12k SF expansion/extension lease at Granite Tower. The landlord, CAPSTAR Real Estate Advisors was represented by Trey Smith with Cassidy Turley. *** Injury Management Organization renewed its almost 11k SF lease in International Business Park at 4100 Midway Rd. Jonathan Hill and Christopher Fleeger of FinleyMorrow Corporate Real Estate Strategies represented Injury Management Organization. Trevor Franke of Peloton represented the landlord. *** Espree Animal Products leased 30k SF of warehouse and cooler space in Heritage Business Park VI at 800 Industrial Blvd in Grapevine from A&B Properties. Bradford?s Todd Lambeth and Michael Spain represented the landlord. Tyson Erwin of NAI Robert Lynn represented the tenant. *** Yanyee International added 10k SF of flex industrial space in Twin Creeks Business Center Building 300 at 1305 N Watters Rd in Allen. Bradford?s Susan Singer and Chris Stout represented the landlord.Patricia Bertrand of Coldwell Banker represented the tenant, which now occupies 32k SF in the fully leased building. | |
KUDOS The AIA Dallas 2011 Unbuilt Design Awards winners were HDR + Corgan taking the honor award for the new Parkland Hospital. Corgan received the merit award for the Incheon International Airport Terminal 2 Design Competition. The citation award went to HDR for the Fire Beach House. *** | |
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| Fountain Place, designed by I.M. Pei, will be presented with the 25-year award by the Texas Society of Architects during the organization's convention in Dallas on Oct. 28. The annual award recognizes one building in the State of Texas completed 25 to 50 years earlier that has stood the test of time by retaining its central form, character, and overall architectural integrity. In January, AIA Dallas will also honor Fountain Place with its own 25-Year Award. Original developer and visionary of Fountain Place, Bill Criswell of then Criswell Development, recently signed a lease at Fountain Place for one of his business ventures, Freight Shuttle International. Fountain Place is owned by Crescent Real Estate Holdings. | |
| NEW BUSINESS Grubb & Ellis SVP Chris Wright and associate Matthew Goyne were selected as the leasing agents of the almost 103k SF 3200 Broadway Ave Class-A office building in Garland. *** Stream Data Centers broke ground on its new Stream Private Data Center; a ground-up development totaling almost 73k SF in Richardson. The purpose-built data center will be constructed using Miami-Dade County Building Code Standards, providing the ability to withstand sustained 146-mph straight-line winds. The data center will deliver 3.375 MW of critical power with the ability to expand the critical load to 6.75 MW with all necessary conduit and pads in place. The raised-floor area will be divided into three independent 10k SF private data halls. The Richardson data center, at Renner Road and Wyndham Lane, will be Stream?s second data center development in Richardson in the last 12 months. *** The Weitzman Group is bringing a statewide portfolio of restaurant properties to market, which includes properties in DFW, Austin, Houston, and San Antonio. It is being marketed in the DFW area by Weitzman?s Elizabeth Allen and Megan Nabholtz and by key brokerage professionals in Weitzman?s other markets. The portfolio includes seven single-tenant with 31k SF of usable restaurant space and eight pad sites totaling 448k SF. The pad sites range in size from 36k SF to 95k SF with sites in Mesquite, Duncanville, Forney, Irving, among others spread across the state. The portfolio also includes a former Pizza Hut in Austin, being marketed by Lance Morris in the Austin office; a former Golden Corral in Beaumont being marketed by Randy Hopper in the Houston office; and a former Pizza Hut in Seguin, being marketed by Phil Telisak in the San Antonio office. | |
| THIS AND THAT | |
| Dust off your cowboy boots and get ready for some boot-scooting to Clint Black, who will be the feature performer at The Real Estate Council?s western-themed Giving Gala on Oct. 6 at the Hilton Anatole Sculpture Park at 2201 Stemmons in Dallas. The event also includes a live auction of playhouses designed and built by members. Tickets are available on the TREC websitewww.recouncil.com. | |
| PEOPLE ON THE MOVE Accor North America promoted Kristin Taylor to EVP of technical services, real estate and development for Motel 6 and Studio 6. In her new role, she joins the ANA executive committee and will lead the company's real estate, development, asset management and technical services departments. *** Bernard Shaw has been promoted to VP of asset management with Cencor Realty Services. He is responsible for overseeing the asset management of a portfolio of retail centers in the DFW area. *** David Zoller was promoted to VP with the commercial retail division of The Weitzman Group. He is focused on investment sales and retail project leasing as well as tenant representation for a select group of retailers in the DFW area. *** Nick Fluellen was promoted to VP investments at Marcus & Millichap. He began his career with the firm in December 2005, specializing in the sale of multifamily properties. Most recently, he held the position of associate VP of investments. *** The Rosewood Corp appointed Bill Flaherty as president of Rosewood Property Co. Prior to joining Rosewood, Bill served as SVP of the Irvine Co, where he developed and implemented a customer engagement and modern marketing platform for its 475 office properties in California. |
