The Deal Sheet
| Cash is king for sale of the almost 23k SF Lone Star Plazashopping center on Camp Bowie in Fort Worth. No sale price was disclosed, but the all-cash transaction was completed in 40 days. | |
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| Located on at the signalized hard corner of Camp Bowie Blvd and Bigham Blvd, the 100% occupied property, owned by a Dallas-based private partnership, has a diverse tenant mix of national and local retailers, says UCR SVP Tommy Tucker. Tommy had the listing to rep the seller and procured the buyer, a long-term owner. | |
SALES The Cantrell Co and Partners completed the sale of a 170-unit garden-style Fort Worth apartment community, Park Terrace. The distressed property was 15% occupied at closing. Todd Franks andSam Pettigrew represented the seller and buyer in the transaction. Price was not disclosed. FINANCING HFF arranged three separate financing deals including:
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| LEASES | |
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| Jackson-Shaw secured two new tenants at Vista Point South office/flex development in Coppell, occupying more than 38k SF, bringing the occupancy to nearly 87%. New tenants include Paragowith an almost 16k SF lease (615 SH 121). The location is the operational site for Parago?s new company, Beget.com; and Paragon Global Resources with a seven-year lease for 22k SF (633 SH 121). The company moved from its Irving location and consolidated several out-of-state offices. Jackson-Shaw also renewed its lease with Lexus for almost 13k SF at its training center (611 SH 121) for another five years. Stream Realty's Chris Jackson, Tim Terrell andBlake Kendrick represented Jackson-Shaw on each of these leases. Parago was represented by JLL?s Steve Thelen and Brooke Armstrong; Paragon was repped by Transwestern's Brant Landryand Brett Owens; and Lexus was repped by CBRE's Nathan Lawrence and Ryan Keiser. *** AWC leased 20k SF of warehouse space (301 Beach St) in Fort Worth from Tarrant County. Bradford Commercial Real Estate Services market director Nick Talley and EVP Karen Simon repped the landlord. NAI Robert Lynn Co's Michael Newsome represented the tenant. Nick and Karen also repped Tarrant County in a 10k SFrenewal for Insco Distributing (399 N. Beach) St in Fort Worth. Corporate Realty Advisors? Clint Dansby represented the tenant. *** Delta Logistics leased 182k SF of industrial space at 101 Sunridge Blvd in Wilmer from US Industrial Reit II. CBRE's Dave Anderson,Steve Berger and Sarah Carter handled the negotiations during the transaction. *** JLL negotiated six Dallas transactions totaling 176k SF. Among the deals are:
*** Escalante Golf, an owner/operator of luxury golf properties, is relocating its corporate HQ from Colorado to Fort Worth. The newly constructed offices at 2930 Bledsoe St are scheduled for completion in May. Escalante Golf owns and manages award-winning clubs in Florida, Indiana, Ohio, Colorado, and California. The four partners are prez David McDonald, VP biz development Robert Silva, VP operations Elcio Silva, and VP marketing and communicationsDavid Matheson. SCM Real Estate Services? Gary Walker andRenee Efimoff represented the tenant. *** Auto Parts Components inked a 25k SF renewal at 5124 Brush Creek Rd in Fort Worth. Bradford SVP Todd Lambeth represented the tenant. | |
| NEW BUSINESS | |
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| CB Richard Ellis was selected as the leasing representative for the464k SF Walnut Glen Tower. The Class-A office building at 8144 Walnut Hill Ln in Dallas. This 18-story building is 72% occupied, with contiguous blocks of space available on the 13th, 14th, and 15th floors totaling almost 78k SF. CBRE SVPs Jay Bailey and J.J. Leonard and VP Burson Holman will rep the owner, a JV between Prescott Realty Group and NY-based Assurant. *** Golden Living executives announced the relocation of the company's HQ from Fort Smith, Ark., to 27k SF in the Legacy campus in Plano. The company's previous HQ in Fort Smith will become the Golden Living administrative center, providing administrative services in support of all of the company's businesses and more than 42,000 employees nationally. Golden Living prez and CEO Neil Kurtz says the business environment created by the state, the Texas Enterprise Fund, and the City of Plano were key to the decision to more to Texas. *** NYLO Hotels reorganized its management team and completed afinancial restructuring of all debt to prepare for growth opportunities. The debt restructuring on all NYLO?s properties was completed in December with favorable modifications. Michael Mueller is now CEO. Prior to founding NYLO, he spent 15 years with Starwood Capital Group and Starwood Hotels & Resorts where he played a key role in the creation and growth of Starwood Hotels and the W brand. Patrick O?Neil will remain in charge of operations for NYLO as the EVP of operations. Stephane Dupoux who has overseen all design aspects of the NYLO brandwill also be more involved following the restructuring. | |
| PEOPLE ON THE MOVE Community association management firm Associa named Carol Piering as VP for corporate communications. She has been with Associa since February 2010, previously serving as the director of public relations. *** Norman Eastwood of the Marcus & Millichap Real Estate Investment Services? Dallas office ranked No. 8 out of more than 1,200 investment specialists nationwide for top investment specialists for 2010. Norman, an investments SVP, focuses on the sale of multifamily investment real estate. He joined Marcus & Millichap in May 1987 and was promoted to SVP investments in July 2010. He also serves as a senior director of the firm's National Multi-Housing Group. *** Scott Parr joined Realty Capital Corporation as its new controller. He will be responsible for handling accounting records and reporting for RCC as well as more than 70 operating partnerships. He has 28 years of experience in real estate accounting, financial analysis and auditing. | |
| KUDOS The LBJ Express project was named the North American Project Bond Deal of the Year 2010 from Project Finance magazine and earned the title of North American Infrastructure Developer of the Year. The Cintra US, Meridiam Infrastructure, and the Dallas Police and Fire Pension System were recognized for the North American Public-Private Partnership Transaction of the Year from an annual survey conducted by Infrastructure Investor magazine. |
