The Week in Deals
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HFF closed the sale of the 231k SF Preston Center Pavilion and Square urban infill shopping center in Dallas. HFF repped the seller, US Commercial for 35 TIC owners, and secured the buyer, a private real estate fund advised by Crow Holdings Capital Partners. The transaction involved the assumption of the existing CMBS mortgage. Senior managing directors Barry Brown, Jim Batjer, and Doug Hazelbaker, and managing director Ryan Shore repped the seller.
Cole Real Estate Investments purchased the 265k SF Eastchase Market from Columbus Pacific Properties and Equity Alliance Fund. The property--at 1600 Eastchase Pkwy in Arlington--is 96% occupied. CBRE SV Chris Cozby, first VP Chris Gerard, and VP Kevin Holland repped the seller. The duo also repped the sellers in three more deals. In one, Thackeray Partners purchased the 114k SF 4901-4965 Overton Ridge Blvd in Fort Worth. In the other deal, GK Development purchased a 1.3M SF property and 42 acres at 1888 Green Oaks Rd in Fort Worth. Finally, they repped the undisclosed seller in the sale of 209k SF on 21 acres at 2663-2853 Market Center in the Rockwall Market Center to Dunhill Partners.
An undisclosed buyer purchased the 177k SF Oakbrook Plaza at 1515 to 1575 West Mockingbird Ln. Colliers International's Creighton Stark and Ben Lurie repped the seller.
Piedmont Office Realty Trust completed the purchase of two Class-A office buildings: the 260k SF 6565 MacArthur Blvd in Irving and the 262k SF One Lincoln Park at 8401 North Central Expwy in the Preston Center area. The properties are 85% and 74% occupied, respectively. Piedmont SVP Wil Stone handled the deals.
Ethan Allen Interiors leased almost 39k SF in Billingsley Co's Austin Ranch. The lease begins in March. Lee & Associates' Reid Bassinger repped the tenant.
The Pig, Ziggy's Construction, and The Pig Bike Shop leased 14k SF at a new five-acre redevelopment site at 11476 Harry Hines Blvd. Capstone's Larry Robbins handled the leases and redevelopment of the former Hunsaker Truck Lease Facility.
YKK AP America signed a 105k SF lease at Beltline Trade Center Building A in Coppell from IDI. The tenant is relocating and expanding from a 36k SF facility in Carrollton. The Carlson Co's Richard Carlson and NAI Brannen Goddard's Day Lancaster repped the tenant. IDI's John Leinbaugh repped IDI.
Colliers International's Phil Rosenfeld and Matt Thompson repped the landlords in two leases including the 15k SF deal at 361 Beach St in Fort Worth to Bridgestone Americas Tire Operations. The Mercer Co's Ryan Boozer repped the tenant. Phil and Matt repped Tarrant County Properties. In another deal, the duo repped Regal Business Center in the 19k SF lease to 7 Hills Transport at 4653 Leston St in Dallas. Structure Commercial's Bob Kent repped the tenant.
Seth Thatcher joined CBRE as VP on the Dallas agency office leasing team. He joins CBRE from CASE Commercial Real Estate Partners.
Ray Mackey joined Peloton Commercial Real Estate in the newly created position of COO and principal. In his new position, he will be a part of the executive management team and will help direct and implement the strategic long-range plan for the firm. He recently spent 15 years with Stream Realty as the SVP of property management and then as COO and partner.
Parmenter Realty Partners recently promoted Stephen Bronner to vice chairman. He has been with Parmenter since 2002 as managing principal in the Dallas regional office, responsible for acquisition, disposition, development, leasing, management, and asset management in the southwest region.