This Week's Dallas-Fort Worth Deal Sheet
Top real estate executives from CBRE and JLL left longtime positions with those companies to join Newmark Knight Frank's U.S. Capital Markets group.
Newmark Knight Frank hired Gary Carr, John Alvarado and Robert Hill from CBRE, along with Chris Murphy, formerly of JLL.
All four office investment sales experts will serve Newmark Knight Frank as vice chairman.
During the course of their careers, Carr, Alvarado, Hill and Murphy achieved combined office sales above $50B.
They join Newmark Knight Frank as its capital markets platform is in fast expansion mode.
“NKF’s exceptional growth in our U.S. Capital Markets platform, co-headed by Kevin Shannon and Rob Griffin, continues to strengthen as we welcome these market-leading professionals in Texas, one of the nation’s largest commercial real estate markets,” Newmark Group CEO Barry Gosin said in a statement.
Texas markets made up more than 10% of the 29,000 U.S. capital markets transactions closed last year, Newmark Knight Frank noted.
Carr served as vice chairman at CBRE, while Alvarado and Hill were senior vice presidents with a specialization in office investment sales, single-tenant transactions and sale-leaseback and net-leased properties.
Murphy joined from JLL and its predecessor firm HFF; he served as managing director and has experience handling all asset types on the investment sales side of the business.
All four professionals will work out of Newmark Knight Frank's Uptown Dallas office at 2525 McKinney Ave.
Manhard Consulting hired Bradley Dalbec as chief financial officer, overseeing accounting, financial analysis and reporting for the firm.
Dalbec will work out of Chicago, but is expected to travel frequently to Dallas and the firm's other offices in Texas.
Prior to joining the civil engineering and surveying firm, Dalbec served large real estate and construction firms in the roles of CFO and controller.
Tony Lenamon joined JLL this month as managing director.
Lenamon brings more than 30 years of experience to his new role leading JLL's national Valuation Advisory Multifamily Practice.
Sales and Acquisitions
Walnut Hill Property LP sold a 20K SF one-story office building at 1320 West Walnut Hill in Irving to Walnut Hill McArthur LLC.
The buyer is an acupuncturist and plans to convert the building into an alternative medical center.
The purchaser hired Henry S. Miller Brokerage's Angela Chen and Jim Turano to assist with the acquisition while Stream Realty's Tyler Maner and Tim Terrell represented the seller.
A 21K SF industrial building has been sold at 2502-2510 Camp Ave. in Carrolton to Ohio Plaza LLC.
Lee & Associates' Nathan Denton represented the seller, WCM/FDM/BFM Ventures, while the buyer hired Mercer Co.'s Keenan Cook.
RW Solutions signed a 21K SF sublease contract at River Bend East Office Park in Fort Worth. Holt Lunsford Commercial's Matt Carthey and Jake Neal represented the tenant, while JLL's Jamie Galati and David Berzina represented the landlord, Gorrondona & Associates Inc.
Link Industrial Properties leased 18K SF at 3301 East Plano Parkway in Plano to System Electric Co. Lee & Associates' Brett Lewis and George Tanghongs represented the landlord.
Pope, Hardwick, Christie signed a new lease for 11K SF at 500 West Seventh St. in Fort Worth. Holt Lunsford Commercial's David Cason represented the tenant while Red Oak's Jack Clark represented the landlord, First on 7th.
This or That
The $114M Grapevine Main project, which includes development of the rail station-inspired Hotel Vin and its attached food hall, known as Harvest Hall, announced four of the culinary providers charged with shaping the project's hospitality offerings.
Operator Coury Hospitality chose Arepa TX, Chick & Biscuit, Four Sisters: A Taste of Vietnam, and Spuntino to serve as the first four food concepts inside Harvest Hall when it opens later this year.
All four of the restaurants, which will adorn Harvest Hall in addition to three other unannounced brands, are family-owned and offer homemade dishes made from scratch.
Dallas-based Aspenmark Roofing & Solar has been acquired by Arizona-based Restoration Builders Inc.
Restoration Builders is only three years old and aims to develop a network of licensed contractors and industry experts throughout the U.S. It expects revenue from last year to exceed $100M.
JLL earned a perfect score on the Human Rights Foundation's 2020 Corporate Equality Index. The index serves as a benchmark for how well a company is performing when it comes to promoting and fostering equal workplaces.
This is the sixth year in a row in which JLL has earned a perfect score. The firm also obtained the ninth spot on Forbes' list of America's Best Employers for Diversity.