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WHO SAYS NO ONE'S BUYING? THE DEAL SHEET

Dallas-Ft. Worth

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WHO SAYS NO ONE'S BUYING? THE DEAL SHEET
Looks like Gold means Green. Tektronix Communications purchased the 185k SF, 3-story LEED Gold Certified Wilcox Center at 190, 3033 Highway 190 in Plano for an undisclosed price.
 
Wilcox Center at 190
Tektronix is expected to relocate 475  employees from its 241k SF in Richardson. Interior finish construction should be complete during 2Q. We’re told Tektronix wanted to gain efficiencies by transitioning from a vertical office space to a horizontal layout. CushWake’s Mike WyattBill McClung, and Randy Thompson repped Tektronix in selection and negotiation. Mike said the deal is one of the best examples of right-sizing seen in this market. GVA Cawley’s Bill CawleyBuddy Tompkins, and Seth Thatcher handled negotiations for the ownership group, WDS 190 LP.
 

Lease Transactions

 

Dallas law firm Sumner, Schick & Pace signed a new 8,405 SF lease on the sixth floor of Turtle Creek Centre at 3811 Turtle Creek Blvd. The firm will move in January. Stream Realty Partners’ Ryan Collier represented the landlord. Peloton Real Estate Partners’ Grant Sumner the tenant.

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North Texas Pediatric Dentistry & Orthodontics leased 5k SF of retail space at 2109 W. University Dr. in Denton from Eagle Farms Inc. CBRE’s David Copeland negotiated on behalf of the tenant.

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Eve Beauty Supply Inc leased 4,980 SF of retail space at 707 N. Highway 67 in Cedar Hill from KRG Cedar Hill Plaza LP. CBRE’s David Copeland and Jeff Kittleson negotiated the lease on behalf of the landlord.

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Blockbuster Inc. leased 4,906 SF of retail space at 3000 Grapevine Mills Parkway in Grapevine from Grapevine Mills LP. CBRE’s Nathan Wood and Ryan Byrne negotiated the lease on behalf of the tenant.

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Ozburn-Hessey Logistics expanded its lease by 181K SF of industrial space at 4001 Adler Road in Dallas from I-30 Distribution LP. CBRE’s Ann Huntington negotiated the transaction on behalf of the tenant; CBRE’s Jake Marks repped the landlord.

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Golden Star Classic Auto Parts leased 71K SF of industrial space at 1800 Waters Ridge in Lewisville from TIAA-CREF. CBRE’s Steve Trese negotiated the lease on behalf of the landlord. Henry S. Miller’s Dan Spika repped the tenant.

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Cleveland Steel Container Corp leased 52K SF of industrial space at 3221 E. Arkansas Lane in Arlington from Forum 303 Crossing. CBRE’s Stan McClure and Steve Koldyke negotiated on behalf of the landlord. The tenant was repped by Transwestern’s Jim Hazard.

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Kuehne + Nagel Inc leased 50K SF of industrial space at 921 W Bethel Road in Coppell from KTR Coppell LLC. CBRE’s Nathan Lawrence negotiated the lease on behalf of the tenant. Robert Lynn Co.’s Rick Medenis and John Lancaster represented the landlord.

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A&R Logistics leased 43K SF of industrial space at 2322 Franklin Dr. in Fort Worth from Jagee Real Properties, Inc. CBRE’s Bob Scully negotiated the lease on behalf of the landlord.

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Apex Systems Inc. renewed a 7K SF office lease at 222 W. Las Colinas Blvd. in Irving from SP Millennium Center. And Thru LLC renewed a 4K SF foot office lease at 909 Lake Carolyn Parkway in Irving from SP III 909 Lake Carolyn Parkway LP. In each, CBRE’s Bill Lokey Jr. and John Fancher negotiated on behalf of the landlord.

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In three deals, CBRE’s Jay Bailey, J.J. Leonard, and Susannah Wallace negotiated on behalf of the landlord:

  • Digital Intelligence Systems Inc leased 11K SF of office space at 19111 N. Dallas Parkway in Dallas from SP4 Tollway Crossing LP. 
  • Lee Hecht Harrison LLC renewed 6K SF of office space at 15303 N. Dallas Parkway in Addison from SP US V5 Colonnade. (Tenant rep: USI Real Estate’s Jeremy Halback.)
  • Robbie Malone PLLC renewed 4K SF of office space at 8750 N. Central Expressway in Dallas from Northpark Central VEF II. (Tenant rep: Transwestern’s Howard Watkins.)

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TIG Real Estate Services, Inc. arranged a 34K SF lease of industrial/warehouse space at 11011 Regency Crest in Dallas. Ryan Wolcott negotiated the lease terms for the tenant, Star AC Supply, LLC and Michael T. Grant represented the Landlord, RREEF.

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TIG Real Estate Services, Inc. arranged a 20K SF lease of office/warehouse space at 11460 Hillguard Road in Dallas. The Tenant is Eco Fresh USA. Michael T. Grant and Ryan Wolcott represented the Landlord RREEF.

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Transwestern’s Dallas office represented landlord Stephens Pipe & Steel in a 12.35-acre land lease deal at 10851 Miller Road, in Dallas. Transwestern’s Greg Cannon and Curtis Parker represented the landlord. John Aldrich of The Aldrich Company represented the tenant, Secure Trailer Depot.

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Nevill Business Machines Inc. renewed a 16K SF office/warehouse space at Belt Line Place, 1301-05 W. Belt Line Road in Carrollton from Aquiport DFWIP. Bradford Commercial Real Estate Services VP/managing partner Brian Pafford represented the landlord. David Little Real Estate represented the tenant.

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Insurance Technologies Corporation completed leases at 1335 Valwood Parkway for 10K SF and 1321 Valwood Parkway for 3K SF.  Stream Realty Partners’ Kyle Jacobs and John H. Pope represented the tenant in both transactions and TIG’s Richmond Collinsworth and Tom Smolik represented the landlord in the transaction at 1321 Valwood Parkway.

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TIG Real Estate Services, Inc. arranged a lease for 26K SF of office/warehouse space at 8925 Premier Row in Dallas. The tenant, Tom Addis Productions, Inc was represented by Mercer Company. TIG Real Estate Services’ Jerod Hangartner and Tom C. Smolik represented the landlord Anthony Interrante.

 

Sales Transactions

Henry S. Miller EVP Dan Spika negotiated the purchase of a 21K SF office-warehouse building in Dallas on behalf of West Dixon Holdings, LLC. The industrial facility at 2425 Arbuckle sits on 1.06 acres. The seller, B.J. Elkins, was repped by Nathan Denton of Lee & Assoc.

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Behringer Harvard acquired the developer’s ownership interest in The Eclipse, a multifamily community with 330 apartment homes at 1725 Crescent Plaza in Houston. This investment was made through a JV of Behringer Harvard Multifamily REIT I  and PGGM Private Real Estate Fund, an investment vehicle for large Dutch pension funds. These co-investment partners paid off the loan used to construct the asset, and the community is now wholly owned by the partnership. The Eclipse features a club room, swimming pool, business center, fitness area, theater and game room. The community is near George Bush Park, a 7,800-acre park with facilities for baseball and soccer, equestrian, shooting center, pavilions, model airplane field, and trails for hiking and biking.

 

Development & Construction

Dallas-based Market Center Management Company (MCMC) announced the location for its $250 million Nashville Medical Trade Center project: 601 Commerce Street in downtown Nashville, site of the current Nashville Convention Center. The facility will feature permanent manufacturer showrooms, temporary exhibition space, and conference facilities within a 2M SF complex. Construction will begin as early as mid-2010 on a new 12-story tower on top of the existing convention center site, as well as a new plaza across the street from the historic Ryman Auditorium. In addition, the Broadway-facing side of the property will undergo a redesign. The project is designed by Nashville-based Gresham, Smith and Partners and construction will be managed by the Nashville office of Turner. Joint ownership will be held by Dallas-based Crow Holdings, the ownership entity for Market Center Management Company, and CNL Lifestyle Properties, a real estate investment trust advised by CNL Financial Group. Both are committed to making a cash investment and securing the financing for the remainder of the costs. In addition, the venture is subject to certain pre-leasing levels.

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UrbanAmerica and Behringer Harvard partnered to create a seamless integration of the capabilities of both companies. UrbanAmerica and Behringer Harvard have a total of more than $10B in assets under management and a staff of more than 400. UrbanAmerica’s Richmond S. McCoy will continue to provide the overall strategic direction and execution of business plans for UrbanAmerica Advisors. He has led UrbanAmerica's equity-raising efforts totaling $520M as well as the deployment of that capital into more than $2 billion of assets over the last eight years. McCoy has completed more than $4 billion in real estate transactions during a career that has spanned over a quarter century. Under McCoy, UrbanAmerica received $197M from the New Markets Tax Credit Program in several separate allocation rounds. He serves as vice chairman of the Real Estate Executive Council.

 

Executives On The Move

Stream Realty Partners expanded its Dallas Industrial division with the hire of Jamie Jennings, who joined as director of acquisition and investment services. Jamie will provide clients with acquisition underwriting services, asset management services, and capital markets expertise.

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Integra Realty Resources DFW senior analysts Greg Cook and David Harry have been installed as officers of the International Right of Way Association, Chapter 36, serving the Dallas, Fort Worth, Tyler, and Waco areas. Cook is president the next 18 months and Harry is the chapter’s secretary.

 

Recognition

Some HKS Hill Glazier Studio projects were included the November 2009 issue of Condé Nast Traveler, which featured the best in the world/top 100 readers’ choice awards: three of the top 100 in the world, all receiving ratings above 92 out of 100; nine of the top 75 mainland US resorts; one of the top 10 Atlantic Ocean resorts; one of the top 20 Hawaii resorts; three of the top 25 Mexico resorts; and two of the top 100 US hotels.