Contact Us
News

The Deal Sheet

The Deal Sheet

We wrangled an exclusive invite to a cocktail reception honoring NTCAR's 2013 Stemmons Service Award finalists, as well as the 2013 Young Citizen Award finalists at Colliers International's offices Thursday night. Here's United Commercial Realty's Mickey Ashmore, Transwestern's Nora Hogan, Spire Realty's Allison Johnston, Transwestern VP Natalie Snyder, Hall Financial Group's Kim Butler, and Colliers EVP Allen Gump. Missing from the photo are Young Citizen Award nominees RioCan American Management's Elizabeth Allen and Cassidy Turley's Charlie Morris. The awards will be presented on Dec. 5.

***

The Deal Sheet

Sculptor Ed Colarik unveiled his statue at Valley View Center's Gallery at Midtown as part of its Veterans Day ceremony. The mall is owned by Beck Ventures.

EXECUTIVE MOVES

Kelley Ahrens and Austin Barrett joined CBRE's healthcare services group with a focus on the local healthcare market. They will provide transaction and consulting services to institutional and private investors as well as healthcare systems, practice groups, and physicians. Kelley returns to Texas after working for CBRE in Phoenix. Austin previously provided medical tenant rep and buyer services to physician groups across DFW.

***

KBS Realty Advisors and KBS Capital Advisors restructured their asset management teams with regionally based asset managers taking a more active role in identifying new acquisitions. The company's three regional presidents will oversee the underwriting and closing of each transaction. With the restructuring Rodney Richerson will move from his role as central regional prez to KBS western regional president to replace Bill Milligan, who is retiring at the end of the year. Replacing Rodney as central regional president is Ken Robertson, who is advancing from his position as SVP and asset manager of the central region.

***

Erik Coslik is rejoining The Woodmont Co as VP. He specializes in landlord leasing of existing projects and new developments. Jacob Cox was also hired as a VP specializing in landlord and tenant representation.

NEW BUSINESS

Majestic Realty broke ground on a 1M SF spec building in Majestic Airport Center in Lewisville. According to a Majestic spokeswoman, this is the largest spec industrial building to be built in the Metroplex. Majestic is JVing with Northwestern Mutual in the project.

***

Velocis completed $1.5M in renovations to the 90k SF Magnolia Medical Tower, which the fund purchased in 2012. Staffelbach implemented the renovations, which began January and include upgrades to all six floors and the parking garage. The building's elevators were modernized and common areas received new corridor finishes, among many other improvements. The former Medical Arts Building is adjacent to Baylor All Saints Medical Center and is 74% leased by doctors and medical service firms. Lincoln Harris CSG's Nat Klein, Banks Newton, and Jason Manske are handling leasing the property.

***

CASE Commercial Real Estate Partners merged with Emersons Commercial Management, which specializes in property management and brings an almost 4M SF portfolio of retail centers, office buildings, and industrial properties in 15 states.

SALES

Zale/Corson Group sold its 197k SF The Encore apartment community at 4700 Tribeca Ln in Plano, near Legacy Business Park, for an undisclosed amount. The 240-unit, Class-A residential property was developed in 2012 and was 95% leased at the sale. CBRE's Charles Cirar, Ryan Reid, and Jeremy Faltys repped the seller.

***

BHP Sale Builders Hardware sold a fully leased 543k SF income property on 1.5 acres at 600 109th St in Arlington to KTR Property Trust III. CBRE Arlington's John Brewer and Brian Gilchrist repped the seller. Hudson-Peters Commercial's Michelle Hudson repped the buyer.

***

MRSL Properties sold a 24k SF property at 1849 Empire Central to Vibrio Properties. Vibrio was repped by Stream Realty's Jason Moser. MRSL was repped by Colliers International's Allen Gump and Allyson Gump.

***

Grupo Haddad purchased the fully leased 190k SF Plano Office Commons in Plano. CBRE's Eric Mackey, Gary Carr, and John Alvarado arranged the transaction on behalf of an investor repped by Peloton Commercial Real Estate.

***

Starplex Cinemas plans to open a new theatre in fall 2014 at Castle Hills Marketplace at the southwest corner of SH-121 and Josey Lane. Under development by Cencor Realty Services, the center will be anchored by a 123k SF Kroger Marketplace.

***

The Dryden Co purchased the 40k SF two-building property at 4900 Preston Rd in Frisco for an undisclosed amount. Powell Realty Advisors' Robert Powell repped the buyer.

***

A JV between Libitzky Property Co and Sunwest Real Estate Group purchased the 33k SF Parkway Vista Office Building at 5072 W Plano Pkwy. The 94% occupied MOB was acquired from an affiliate of Behringer Harvard. Cushman & Wakefield's Scot Farber and Tom Strohbehn repped the seller. Sunwest Real Estate Group's Marc Grossfeld repped the buyer.

LEASES

NAI Robert Lynn worked several deals including:

  • L&S Mechanical leased 33k SF at 2412 NE Parkway in Fort Worth. NAI Robert Lynn's Todd Hubbard repped the landlord. NAI Robert Lynn's Kent Smith and Michael Newsome repped the tenant.
  • Alpha Furniture leased 125k SF at 721 111th St in Arlington. NAI Robert Lynn's Michael Stanzel and Michael Newsome worked the deal.
  • Lone Star Holdings leased 33k SF at 3284 Quebec St in Dallas. NAI Robert Lynn's Matt Elliott and Fischer & Co's Mead Hardwick repped the tenant. Holt Lunsford Commercial's Canon Shoults repped the landlord.

***

On Asset Intelligence inked a 14k SF lease at 3010-3080 Story Rd in Irving from 3100 Emery. Colliers International's Kevin Brookmole and Wade Smith repped the landlord. Cushman & Wakefield's Charlie Beck repped the tenant.

***

Altschuler and Co's Jon Altschuler worked a pair of deals including:

  • Flowserve Corp signed a five-year, 34k SF lease renewal at Royal Freeport at 4343 Royal Ln. JLL's Kelly Kackley repped the tenant and Jon Altschuler repped the landlord, The Richland Cos.
  • JDC Enterprises renewed its 12k SF lease for two years at Gateway South at 6025 Commerce Dr. Dowd Commercial Advisors' Bill Dowd repped the tenant and Jon repped the landlord, The Richland Cos.