This Week's Dallas-Fort Worth Deal Sheet
Sonder USA is bringing its short-term apartment/office rental unit concept to Dallas’ Cedars District.
Sonder USA signed a nearly 6K SF lease at Cedars Corner on the 1100 block of Akard Street in the Cedars District. This new lease allows the firm to add 14 hybrid, flexible-lease units to its growing DFW portfolio of office and residential spaces.
The company also recently secured leasing and management rights to 1899 McKinney, a 270-unit apartment building under construction. That project is tied to Austin-based Rastegar Property, which formed a partnership with Sonder USA to offer flex-term apartment rentals with hotel-like amenities at the property.
Bradford Commercial Real Estate Services' Josh Meraz is working with Sonder’s head real estate agent in Dallas, Michael Merryman, to find more sites in Uptown, Downtown and Knox-Henderson for additional office and multifamily short-term rentals.
Sonder has 52 rental units in the DFW area.
McCarthy Building Cos. promoted Joe Jouvenal to president, Southern Region, from his current position of senior vice president of operations for the Dallas office.
Jouvenal is replacing Raymond Sedey, who recently was named CEO of McCarthy Holdings Inc. Both Sedey and Jouvenal will assume their new roles in January.
McCarthy hired Jouvenal in 1998 as a project engineer and then promoted him to project director. He became vice president of operations for the Dallas office in 2012 and assumed the senior vice president post in 2016, while taking the lead on pre-construction strategy, operations and management.
New flexible office leasing product Swivel Inc. grew the ranks of its C-suite this month by adding four executives to its growing platform. The company named Jennifer Horton chief marketing officer, Mike Salas vice president of sales, Jason Royer vice president of finance and administration, and Shaun Worley vice president of product and operations.
SALES AND ACQUISITIONS
A 138K SF industrial building at 1200-1300 Forum Way South in Fort Worth is in the hands of a new owner: Vaquero Forum Way Partners LP. The seller, Forum Way Investments, sold the asset last month. Olin Realty Partners’ Chance Olin was the sole broker in negotiations between the buyer and seller.
Michael DeWayne Provence purchased 22K SF at 1912 Peyco Drive in Arlington from seller EM & T LLC. Mercer & Co.’s Corby Hodgkiss represented the buyer.
An undisclosed investor bought a 35K SF industrial building in Fort Worth from 1800 Northpark LLC. The building is at 1800 Northpark Drive. Stream’s James Mantzuranis handled negotiations for the buyer. Stream’s Forrest Cook and Seth Koschak represented the seller.
Dodson Development acquired 28K SF at 6501 Hart St. and 1020 South Handley Drive in Fort Worth from Youghal Corp. Holt Lunsford Commercial’s George Jennings represented the buyer while NAI Robert Lynn’s Michael Newsome represented the seller.
Cushman & Wakefield announced the following lease transactions:
- HEB Grocery Co. leased 38K SF in Bluffview Towers from BSP Bluffview. The property is at 3890 West Northwest Highway in Dallas. Cushman & Wakefield's Randy Cooper and Wills Bauer represented the tenant while JLL’s James Esquivel represented the landlord.
- United Healthcare renewed a 37K SF lease inside Regent II Office Center, 5150 Regent Blvd. in Irving. JLL’s Jon McNeil represented the tenant, while landlord YMC Investors hired Cushman’s John Fancher and Clint Madison.
- Verizon signed a 31K SF lease renewal in the Plaza @ Solana, 1301 Solana Blvd. in Westlake. CBRE’s Chris Hermann represented the tenant, while Cushman’s Trey Smith, John Fancher and Christy Thelen represented the landlord, Harbert Management Corp.
- Mercury One inked a 31K SF lease inside the Dallas Communications Complex at 300 East Royal Lane in Irving with Cushman & Wakefield’s Steve Wentz and Mike Wyatt handling negotiations for the tenant. Younger Partners’ Trae Anderson and Parker Morgan represented landlord CCI-Irving IV.
- Dallas Capital Bank renewed its 28K SF lease inside Centura Tower at 14185 Dallas Parkway in Dallas. Cushman & Wakefield’s Mike Wyatt and Cribb Altman handled negotiations for the tenant while Transwestern’s Duane Henley represented the landlord, Garden Centura.
- ThyssenKrupp Elevator Corp. agreed to a new 25K SF lease inside Hall Office Park at 2591 Dallas Parkway in Frisco. Cushman & Wakefield’s Rick Hughes represented the tenant, while Hall Office’s Cynthia Cowan represented landlord Hall Stonebriar Two Associates.
- One Network Enterprises Inc. renewed and grew its lease at Granite Tower in Farmers Branch to 21K SF, bringing its total square footage to 45K SF. The office building is located at 4055 Valley View Lane in Farmers Branch. Colliers’ Jihane Boury and Stephen Rury repped the tenant, while Cushman’s Trey Smith and Rodney Helm represented the landlord, Buchanan Street Partners.
- TATA America International Corp. inked a 17K SF lease for Legacy Central 3 at 6600 Chase Oaks Blvd. in Plano. Cushman’s Robbie Baty and Shannon Nehrig represented the tenant, while Transwestern’s Nathan Durham and Duane Henley handled negotiations for the landlord, AR LC 1-3 LLC.
- Safety-Kleen Systems agreed to lease 16K SF at Counterpoint at Central Park I, 1651 North Glenville Drive in Richardson. Cushman’s Stuart Smith and Cribb Altman represented the tenant while Maverick Commercial Real Estate’s Mark Aston represented the landlord, Technology Properties II LP.
- McLane Co. leased 157K SF at 4721 Mountain Creek Parkway in Dallas from landlord IDI Logistics. Cushman’s Kurt Griffin, Nathan Orbin and Ann Jaggars represented the landlord, IDI Logistics, while Newmark Knight Frank’s Michael Quint represented the tenant.
- CDI leased 79K SF in Liberty Park GSW North - Building 2 at 951 Valley View Lane in Irving. Cushman’s Kurt Griffin, Nathan Orbin and Ann Jaggars represented landlord Liberty Property Trust, while CBRE’s Krista Raymond represented the tenant.
- HSM renewed its 63K SF lease at 605 109th St. in Arlington with Cushman’s David Eseke and Chris Hillman representing the tenant and Transwestern’s John Brewer representing the landlord, Vista Verde Industrial LLC.
- PetroChoice inked a 53K SF lease renewal at 12001-12003 Corporate Drive in Dallas. Cushman & Wakefield’s Stuart Smith represented the tenant, while the landlord, Proterra Properties, represented itself.
A mixed-use development across from the Galleria Dallas pulled in two name-brand tenants: coworking firm VentureX and the Mattison Avenue Salon Suites & Spa.
The Village on the Green signed leases with both tenants, and existing tenant Iconic Salon Suites — which was recently acquired by Mattison — renewed its lease for a total of 10K SF. VentureX, which has four North Texas locations, doubled its square footage at the Village on the Green with the firm inking a 22K SF lease deal.
CBRE’s Dan Shoevlin, Claire Galpern, Jackie Marshall and Jackie Smith represented landlord Entrada Partners while Mattison was represented by Leon Capital’s Tucker Gages. NuStar Real Estate’s Tarisa Casper Tibbit and Rosanna Hudson represented VentureX.
Purified water dispenser manufacturer Waterlogic signed a 111K SF industrial lease at Prologis Freeport Corporate Center in Dallas. JLL’s Caleb McCoy and Matt Bracco assisted Waterlogic while Prologis’ Michael Flowers represented the landlord. With selection of this space at 9250 North Royal Lane, the company can open its first light manufacturing and distribution center in North Texas.
The Goodness Project leased 71K SF in Fort Worth at 2550 McMillian Parkway from landlord K&L Enterprises. Stream’s Forrest Cook and Seth Koschak represented the landlord.
Prolift Rigging leased a 52K SF industrial building at 1005 South Blue Mound Road in Blue Mound, Texas. The landlord is the Hilzer Family Trust, which hired Stream Realty Partners’ Forrest Cook and Sarah Ozanne to represent it.
ABEO Management Corp. increased its lease to 18K SF at Overton Centre in Fort Worth. Landlord FLDR/TLCOverton Centre LP hired Holt Lunsford Commercial’s Matt Carthey and Jake Neal to assist with negotiations, while CBRE’s David Walters and Noreen Mehdi Weathers represented the tenant.
Ying Yang Ayaia inked an 11K SF office lease at 4103-B Lindbergh Drive in Addison from Gardenbrook Industrial. The landlord secured the services of Bradford Commercial Real Estate’s Brian Pafford and Susan Singer, while Guo Realty’s Shenglin Joy Selinger represented the tenant.
THIS OR THAT
The 180-plus room luxury HALL Arts Hotel is officially open in the Dallas Arts District.
Developed by HALL Group with both Craig and Kathryn Hall’s involvement, the hotel was designed by HKS Architects with interiors by Bentel & Bentel. The project comes with a rooftop pool and a contemporary art collection and includes 19 suites. It is the first hotel to open in Dallas’ Arts District.
A historic service station in Deep Ellum is getting a makeover and transformation into a bar and restaurant named Thunderbird. The concept is the brainchild of Joel Stephenson and Kim Finch, who are already involved with the Double Wide food and entertainment venue in Deep Ellum.
The owners decided to transform the service station, which once hosted a taco restaurant, on Commerce Street into a bar while maintaining its historic feel and original Deep Ellum vibe. The new bar concept will be open in spring 2020.
CORRECTION: DEC. 18, 1:06 P.M. CT: A previous version of this story incorrectly identified the district in which Sonder USA signed a lease. The story has been updated.