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THE GREEN 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 GREEN DEAL SHEET
Kermit was wrong. It is easy being green. Or at least worth the effort for JCPenney Co.  Its 1.9M SF Plano HQ earned a LEED EB Gold certification, making it the third largest campus facility nationwide to do so. Talk about street cred.
 
J.C. Penney HQ
Completed in 1992, the JCPenney home office relocated to Plano after operating its HQ in New York City for nearly 80 years. The facility was purposely constructed with sustainability. Green efforts include operating one of the world's largest thermal ice-storage systems, which offsets the peak demands of electrical usage by making ice each night to cool the building the following day. Over the last five years, the company has implemented nearly 40 sustainable improvements at the home office including utilizing used cooking oil from the cafeteria to make biodiesel to fuel maintenance vehicles. Tasty and efficient. JCPenney institutes green from top to bottom. The firm recently received a LEED for New Construction Silver certification for the new store in Fairview.
Leasing

Ricochet is relocating its offices to Irving, leasing 52k SF in the Twinrose Regent complex on Regent Boulevard between State Highway 114 and Interstate 635. Ricochet plans to move in October. Hudson Peters Commercial's Michelle Hudson and Cincha Kostman negotiated the lease with JLL's Michael Swaldi and Forshey Hoobler.

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a Real Bookstore

a Real Bookstore inked a 20k SF deal to open at The Village at Fairview in mid-November making it the largest locally owned bookstore in North Texas. Located between Macy's and JCPenney at The Village at Fairview facing Stacy Road, the one-level bookstore— designed by San Francisco-based URS—will include a 2k SF children's section, a dedicated event space and an area for cooking demonstrations. It also will feature an indoor/outdoor café with wireless Internet access and menu items including beer, wine, coffee, pastries and specialty items.

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The Retail Connection inked two leases totaling 35k SF across North Texas including:

  • Halloween Express for 14k SF at 2963 Preston Rd. in Frisco from Shafer Plaza 06 A. TRC's Jordan Cluff and Terry Syler repped the tenant and Venture Commercial's Jane Ann Stock and Don Miller repped the landlord. 
  • Lone Star Gymnastics leased 21k SF of space in the Hulen Fashion Center at 5200 S. Hulen St. Terry worked this deal with Scott Rose handling negotiations between the landlord and tenant.

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Highland Park Place at 4514 Cole renewed two leases totaling 31k SF with 16k SF going to Regus, repped by CBRE's Mike Kay, and 15k went to Hawkins and Parnell, repped by JLL's Brad Selner,Stephen Holley, and Forshey Hoobler. Landlord Brokers are RM Crowe's Clif ConeJamie Klein, and Haley Zemanek.

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Brinkley Sargent Architects leased almost 10k SF at 5000 Quorum in North Dallas. Myers Commercial's Bob Myers represented the tenant and Reid Caldwell represented the landlord.

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M&M Vending leased 4k SF of warehouse space at 2474 Manana. Capstone Commercial's Larry Robbins negotiated the transaction.

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Setting an expansion plan into motion, Cexchange signed a 38k SF lease for HQ and warehouse space in Marsh Business Park West. The electronics recycler is planning to relocate to 1100 Venture Court in the Q4. The company now leases space at 4500 Ratliff Lane in nearby Addison. Bradford SVP Susan Singer and market director Jason Miller represented the landlord, SeaCal Addison. JLL's Forshey Hoobler and Bo Bond were Cexchange's tenant reps. Susan also negotiated with market director Chris Stout (who repped the landlord.) Point PropertiesJerry Soaper repped the tenant in a 16k SF warehouse lease for Standard Supply & Distributing Co.

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Grand Bank renewed 9k SF office space in Bent Tree Plaza III at 16660 N. Dallas Pkwy. from ARI Forum. Bradford SVPs Melanie Hughes and Sharon Friedberg represented the landlord in the 10-year renewal.

Sales

SoHi Shopping Center
BBVA Compass Bank sold the 32k SF SoHi Shopping Center at 833 SoHi Dr. in Fort Worth to Tarrant Vista Partners. Bradford Commercial Real Estate Services EVP Karen Simon and SVP Brian Scott repped the seller. TriMarsh Properties' Bo Avery repped the buyer. Karen says she had several strong offers on the value-add opportunity. The attraction: SoHi's location on the Fort Worth-Keller line, existing inroads with prospective tenants, and seven available pad sites, she says. Developed in 2006, SoHi Shopping Center sits on a knoll overlooking the pad sites, one of which will hold a 7-Eleven at the hard corner of Tarrant Parkway and Park Vista Road. The Dallas-based chain had been negotiating a lease for space in the shopping center, but then opted for a freestanding store as sale plans progressed. The center is 10% occupied.

Financing

A California investor purchased the Dakota Hill apartments at 7902 MacArthur Blvd. in Irving from KBS Legacy Partners Apartment REIT. The 504-unit rental project sold for $36.1M and is more than 90% leased.

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The Dallas office of HFF secured about $21M in financing for a retail center and a multi-housing project.

  • $10.4M in financing was secured for the 177k SF Red Oak Village retail power center in San Marcos for Lincoln Property Company. HFF associate director Travis Anderson placed the 10-year5.5% fixed-rate first mortgage with Southwest Bank. Completed in 2007, Red Oak Village is 87% leased.
  • Another $10.5M refinance was arranged for the 92% occupied 93-unit Trinity Lofts Class A multi-housing community in Dallas' Design District. HFF senior managing director John Brownlee and senior real estate analyst Mike Ostella worked on behalf of Alpha-Barnes Real Estate Services and the Jim Lake Cos. to secure the seven-year, fixed-rate securitized loan through Freddie Mac. HFF will service the loan through its Freddie Mac Program Plus(r) Seller/Servicer program.

Global Expansion

The Venetian Macao-Resort-Hotel in Macau
HKS is opening a Shanghai office in the JingAn District, in the Shanghai Kerry Center at 1515 Nanjing West Rd. The HKS Shanghai office will provide clients in Asia with full-service architecture, interior design and planning. The firm has more than 15 projects under design including resorts, hotels, hospitals, and urban mixed-use complexes. The office is serving clients in Shanghai, Beijing, Ningbo, Sanya, Chanchun, Kunming, Macau, Suzhou, Guiyang, Qujing, Xiamen, and Hangzhao. HKS has completed projects in China including The Venetian Macao-Resort-Hotel in Macau (pictured) as well as master-planning projects in Guangzhou, Shantou and Shenzen. HKS has also completed a HQ building for Universal Group of Cos. in Taipei, and the Enze Medical Center, Taizhou City in Taiwan.

New Business

The American Institute of Architects' Dallas Chapter selected Cooper Smith Agency as its public relations agency of record. AIA Dallas is the fifth largest AIA chapter in the US with more than 2k members and 300 architectural firms. Cooper Smith Agency will work with AIA Dallas' leadership to raise the profile of the organization and its events to its membership, as well as to the community at large. Events include AIA Dallas' annual home tour, its design awards competition and professional development opportunities.