Contact Us
News

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!

THE DEAL SHEET

Talking mo? money in the Crescent Office Towers—six  financial firms have inked deals totaling 90k SF this year. Comparisons are odious (that's what our mamas taught us), but in 2010, there were 150k SF leased in 14 transactions. Now, 86 financial firms call the tower home.

 
Crescent Office Tower

About 712k SF of the 1.1M SF property houses financial companies. The signatures this year include new leases to Highland Capital Management  for 44k SFTruman Arnold Cos for 8,000 SF,Lantern Asset Management for 5,000 SF, and Edge Capital Partners for 2,000 SF. Westwood Management Corp signed a 22k SF renewal with an additional 4,000 SF of new space and Bessemer Trust Co renewed 6,000 SF. Crescent VP of leasing Tony Click says the Crescent is often referred to as the Wall Street of Dallas and the financial center of the Southwest. Westwood CEO Brian Casey says the property's recent $2.2M dual power feed and $6.5M elevator upgrade projects are attractive amenities. Tony repped the landlord. Tenant reps included Transwestern, Lincoln Property Co, JLL, and USA Realty Advisors.

LEASES

 

Lighthouse  College renewed and expanded its lease to 13k SF of office space at 9400 NCX at 9400 N. Central Exwy in Dallas. Bradford Commercial Real Estate Services SVPs Sharon Friedberg and Melanie Hughes repped the landlord, Rosemont Realty.Sanders Thompson and Josh Knez of Transwestern repped the tenant.

 

***

 

Sharp Exposition leased 12k SF of warehouse space in Regal Business Center Building 6 at 4647 Leston Ave in Dallas from Regal Business Center. Bradford Commercial Real Estate Services SVP Brian Pafford represented the landlord. Jim Svidron of NAI Robert Lynn Co. represented the tenant. Brian, with market director Jason Miller, also repped the landlord, Tarrant County LP in a direct deal for a 10k SF renewal with Trinity Fastener Co.

 

***

 

Charming Charlie inked a 10k SF lease in the Shops at Park Lane. The Retail Connection?s Josh Beliak and David Sacher repped the tenant. The landlord, Northwood Investors, was repped by UCR?s Rand Horowitz.

 

***

 

Stream Realty Partners' Tim Terrell  represented Moore Wallace North America in a 13k SF 12-month renewal at 1800 Lakeway Dr in Lewisville. Nathan Lawrence with CB Richard Ellis repped the landlord, ACLP Lake Point Corporate Point II.

 

***

 

Net.Orange plans to relocate its corporate HQ into new office space at 5000 Quorum in Addison. As part of the long-term lease, Net.Orange will have building signage facing south on the Dallas North Tollway.

NEW BUSINESS

 
Vista Clara Ranch Spa Resort

Colliers International Hotels, along with North Coast Realty Services and Scoggin Blue, will exclusively market Vista Clara Ranch Spa Resort near Santa Fe. The spa resort, on 138 acres, includes 34k SF of amenity buildings, and there are plans for an expansion adding up to 26 casitas, totaling 104 guest rooms. The resort is currently closed, pending acquisition and reopening or further redevelopment. The Vista Clara Ranch Spa Resort was the focus of its own segment on the Travel Channel as "One of the World's Greatest Spas."

 

***

 

Axiometrics, which provides multifamily data and analysis, joined forces with CRE research firm Chandan Economics to deliver consulting services for large institutional investors, brokers, developers, and REITs. Axiometrics founder and prez Ron Johnsey was also named to Chandan?s industry advisory board.

 

***

 

IndCor Properties, an affiliate of Blackstone Real Estate Advisors, selected CBRE to provide property management services for a 22M SF national industrial portfolio. The appointment comes on the heels of IndCor?s selection of the firm to manage a 4M SF industrial portfolio in late 2010. The IndCor portfolio includes 175 properties in 10 states including Texas. Properties include bulk distribution hub and industrial facilities. CBRE senior managing director Steve Bassett will lead CBRE's efforts assisted by operations director Rebecca Finley and strategic accounts director Joseph Summers.

 

***

 

Liberty Bank Tower

Holt Lunsford Commercial was awarded the leasing of Liberty  Bank Tower at 860 W Airport Frwy in Hurst. The 116k SF office building recently renovated its common areas, restrooms, and lobbies. Matt Carthey and Geoff Shelton will rep the property.

 

***

 

Venture Commercial Real Estate completed several deals to add four new Carl?s Jr. restaurants in Garland, Balch Springs, Lufkin, and Beaumont by year's end. With these four new locations, RWJP Star Enterprises now owns and operates 48 Carl?s Jr. restaurants in Texas. Venture Commercial's Clay Mote and Kelly Hampton provide exclusive representation for the chain in DFW, eastern Houston, Central Texas, and East Texas. RWJP Star Enterprises?Richard White says the goal is to open 120 restaurants across Texas over the next eight years, making the company the largest Carl?s Jr. franchisee in the US.

 

***

 

Sundance Square hired The Beck Group as construction manager at risk to provide pre-construction services for the proposed plaza development in the center of the 35-block entertainment district. The pre-construction services include pricing for the project to be used in the feasibility studies. Fort Worth-based Gideon Toal was named architect of record for the project in May. DC-based David M Schwarz Architects is the designer of the project and The Projects Group of Fort Worth is the project manager.

 

***

 

Clarion Partners selected Stream Realty Partners as its exclusive management and leasing provider for DFW Distribution Center, a 499k SF building in the DFW Airport submarket at 1717 West Airfield Dr. SVPs Cannon Green and Blake Kendrick will lead the leasing efforts for Stream.

***

 

Baylor McKinney Medical Office Building I

Duke Realty broke ground recently on a four-story 114k SF MOB on the new Baylor Medical Center at McKinney. The MOB is slated to open in June '12 and the hospital in July '12. The Baylor McKinney Medical Office Building I will be connected on the first floor to the $205M six-story, 469k SF hospital on its 58-acre campus at the northwest corner of Hwy 380 and Lake Forest Drive in Collin County. Duke Realty is the developer, owner, broker, property manager, and asset manager of the MOB, leasing the site from Baylor Health Care System through a long-term ground lease. Baylor has already reserved 53% of the MOB?s space for an outpatient cancer center, physical therapy and rehabilitation, physician offices, and other services, with the remainder to be leased to affiliated, complementary medical practice groups. RTKL Associates is designing the exterior, core, and shell of the building. Space planning and interior design is being handled by the Dallas office of Perkins+WillMEDCO Construction of Dallas is the GC.

 

***

 

Holt Lunsford Commercial was awarded the leasing assignment for the 201k SF three-building Richardson Commons at 250 E Arapaho Rd in Richardson. Byron McCoy and Beth Boyd will lead the leasing efforts for Holt Lunsford Commercial.

SALES

 

Marcus & Millichap investment specialist Philip Levy repped both buyer and seller in his exclusive listing of University Corners at 1708 W University Dr in Edinburg. The 11k SF retail property was sold to a developer.

 

***

 

HFF closed the sale of Santa Rosa Commons, a regional grocery-anchored retail center near Pensacola. HFF marketed the 124k SF property for Mpirical Development; it was sold without existing debt and purchased by Cole Real Estate Investments for $25.5M. HFF managing director Brad Peterson and director Coler Yoakam repped the seller. Thomas Falatko, VP of acquisitions, represented Cole.

 

***

 

STAG Industrial bought two industrial properties for $17.9M while closing a $65M acquisition mortgage facility for future acquisitions funding. One site, at 1801 Riverbend W Dr in Fort Worth is fully leased to Ecolab. The other property is in Oregon.


***

 

The 32k SF Skillman Live Oak Shopping Center at 1920 Skillman St sold to SK Oak/Burk Interests. The Retail Connection?s Blake Zale and Terry Syler repped the seller. The buyer was repped by UCR Investment Sales? Adam Howell and David Disney.

***

 

The Retail Connection and Invesco Real Estate purchased the 271k SF Shackleford Crossings newly constructed retail shopping center in Little Rock. Shadow-anchored by a new 187k SF Walmart Super Center and a new 104k SF JC Penney, the tenant mix combines general and specialty retailers such as Babies R Us, Gordmans, Havertys, Edwin Watts, Rack Room, Maurice?s, Rue 21, Verizon, Blue Cross Blue Shield, and AT&T. 

 

***

Trinity Square Business Park

Ohio-based M-D Investments purchased a 32k SF office/warehouse in Trinity Square Business Park, marking M-D?s move into DFW. On 1.9 acres at 2555 Tarpley Rd in the Addison submarket, Bradford Commercial Real Estate Services SVP Brian Pafford says the property changed hands just 90 days after it hit the market. ?Once we were under contract, all parties worked together, which led to a smooth and timely close,? Ryan says. Bradford CEO and prez Kevin Santaularia, along with Ryan, represented the seller, PAI Dallas.Jean Russo of Cushman & Wakefield of Texas represented the buyer.

 

***

 

An almost 14k SF Walgreens in Baton Rouge sold to an individual/personal trust. Marcus & Millichap?s Chance Hales,Vincent Knipp, and Philip Levy had the exclusive listing to market the property on for the seller, a private investor. The buyer was represented by Vincent. The Louisiana sponsoring broker on this transaction was William Hoffpauir of Lafayette.

FINANCING

 

ING Real Estate Finance closed a $72.8M term loan with Invesco Real Estate. The loan was secured by assets Invesco owns throughout the country, including a 202k SF industrial property at 2400 and 2402 Esters Blvd in Dallas. Under terms of the deal, Invesco can grow the loan facility through the addition of assets.

 

THIS AND THAT

 
Tasti D-lite

Tasti D-Lite, a new family owned franchisee, donated $500 (which was matched by Tasti D-lite CEO, Jim Amos) to the Arc of Dallas at its recently grand opening event at Hillcrest and NW Highway. Here's Arc Dallas ED Sherry Wacasey, Jim and Tasti D-lite Dallas franchise owners, Fernando and Patricia Gomez Palacio. Tasti D-lite officially opened its first Dallas location at 8611 Hillcrest Rd.

 

PEOPLE ON THE MOVE

 

Steve Stamos recently joined Lambert Landscape Co as the firm's COO. With more than 30 years in construction, engineering, and real estate development, he was most recently president of his own consulting company. He's also worked for Las Colinas Development and Hillwood Development.

 

***

 

HFF hired William Stadler as a senior managing director in the firm's hotel group in its Dallas office. William will focus on institutional grade hotel and resort transactions throughout North America and the Caribbean. He has worked for a number of high-profile firms during his career including Marriott, Promus Corp, and FelCor Lodging Trust. Since 2003, he's represented REITs, private investors, hotel companies, and financial institutions in the sale of $2.5B in lodging transactions.

 

***

Jones Lang LaSalle hired  Jubal Smith as EVP of the business and economic incentives group. Jubal will work with clients to optimize location decisions and achieve cost savings through incentives negotiation, tax credit identification, and securing state and local economic development funding. He will partner with Ann Marie Woessner-Collins, who manages the BEI teams in Minneapolis and Atlanta.