This Week's Dallas-Fort Worth Deal Sheet
Dallas-based Urban Logistics Realty has broken ground on Alcott Logistics Station, a two-building, 918K SF industrial park in Mesquite.
Jason Nunley, co-owner and managing partner of Urban Logistics, said the name pays tribute to A.R. Alcott, who filed the first plat in the township of Mesquite in 1873. Nunley, along with Adam Herrin and Drew Feagin of Urban Logistics Realty, will oversee development of the project. Kacy Jones, John Hendricks and Trevor Atkins of CBRE will handle leasing and marketing.
“With the success of our Urban District 30 development, it made total sense to partner with the City of Mesquite to activate this site in such a dynamic location,” Nunley said in a statement.
Once complete, the complex will house more than 1,600 workers and include amenities such as a public park and walking trail. The project is expected to wrap up in November.
Mixed-use investor, developer and operator Trademark Property Co. named Philip Welch as its new vice president of construction and development. Prior to joining Fort Worth-based Trademark, Welch served as director of preconstruction for Weis Builders Inc. He will guide construction efforts at Trademark’s multifamily developments.
Nick Cate was promoted to vice president of finance of Dallas-based commercial real estate firm Weitzman.
Environmental health technology company CASPR Group named Jon Zucker as its president. Prior to joining CASPR, Zucker founded and ran full-service digital agency the Dialectic Group.
Renovo Financial named Ryan Dendinger as its new assistant vice president of lending for the Dallas-Fort Worth office. Prior to Renovo, Dendinger was a business development officer and business analyst at Gulf Coast Business Credit.
Dallas-based real estate investment company CanTex Capital acquired two industrial buildings located at 2205-2255 East Pioneer Drive and 600 North Wildwood Drive in Dallas. NAI Robert Lynn Vice President Chase Miller and Executive Vice President Robert Blankinship represented the buyer and seller in the transaction. The buildings comprise more than 400K SF on 17.5 acres.
Menashe Properties acquired Heritage One and Two, located at the corner of Interstate 635 and the Dallas North Tollway. This is Menashe’s first acquisition outside of the West Coast and represents the company’s introduction into the Dallas market. Since acquiring the property in June, more than 60K SF has been leased, including to Mutual of Omaha Mortgage. Russell Podraza and Chuck Sellers with Forge Commercial handle leasing of the complex.
Structure sold Imperial Square, a 68.5K SF retail center located at 3201-3255 West Airport Freeway in Irving. Eric Deuillet and Jake Burns of Structure Commercial represented the seller, and Greg Nelson and Brent Bosworth of Paladin Partners represented the buyer, Global Unique Logistics.
Korman Communities in partnership with Verde Capital purchased AVE Las Colinas, a 288-unit, Class-A property in Irving. The acquisition is the joint venture’s first in the DFW market. The property features one- and two-bedroom luxury apartments.
TXRE Properties LLC sold 120K SF, Class-B office building at 1250 West Mockingbird Lane in Dallas. The selling broker was TXRE’s Justin Smith and the buyer was Albany Road Real Estate.
TXRE Properties also sold a 155K SF, Class-B office building at 1300 West Mockingbird Lane. TXRE’s Kolby Dickerson represented the seller, Ricchi Group, and Lawrence Gardner of OMS Strategic Advisor LLC represented the buyer, the city of Dallas.
Restaurant Properties Group sold the Atrium at North Creek, an 85K SF office building at 2929 North Central Expressway, Richardson. The property is to be held for long-term investment. Andy Anderson, principal at Restaurant Properties Group, represented the buyer, TPH 2929 NCX LLC. Tom Strohbehn of Younger Partners represented the seller, TH/CREA 2929 NCX LP.
Global law firm Shearman & Sterling leased nearly 23K SF at The Link at Uptown, a 292K SF office development at 2601 Olive St. in Uptown Dallas. CBRE’s Chelby Sanders and Ryan Buchanan represented the tenant. JLL’s Blake Shipley and Thirty-Four Commercial’s Sarah Kennington and Bryce Jackson represented the landlord.
CONSTRUCTION AND DEVELOPMENT
Full-service custom commercial modular construction and design firm Sustainable Modular Management relocated its headquarters to 2500 Legacy Drive in Frisco. Dan Jardine, executive vice president of NAI Robert Lynn, and Brett Bofinger, market director, represented the tenant in the transaction.
THIS AND THAT
Dallas-based private equity firm SPI Advisory LLC completed a project to restore iconic murals on an apartment complex near Mockingbird Station in Dallas. The murals at 5 Mockingbird Apartments were painted over by a previous owner, but when SPI acquired the complex in late 2020, principal and co-founder Michael Becker sought to restore the artwork. The project at 555 East Mockingbird Lane began in summer 2021 and was completed in November. Original muralists Chris Arnold and Jeff Garrison were hired to restore the pieces, which adorn the northern exterior of the complex.