This Week's Dallas-Fort Worth Deal Sheet
ZOM Living broke ground on Atelier, a mixed-use, 41-story high-rise with residential and retail space in the Dallas Arts District.
Atelier is a partnership between ZOM Living, Daiwa House Texas and Itochu Corp. It will be the tallest residential tower in Dallas and home to Flora Lofts, 52 affordable artist lofts developed by local architect Graham Greene to provide housing for Dallas' arts community.
The balance of the building will be 364 luxury residential units, with 26K SF of amenity space and 15K SF of on-site retail. The tower, between Uptown and Downtown, also will offer 157 hourly public parking spaces in the underground structure, plus 553 resident spaces in a 10-story parking garage.
Amenities in Atelier include a dog salon, workspaces, fire pits, private wine storage, BBQ grills and an entertainment kitchen. An 11th floor amenity deck is intended to foster interaction among residents.
Construction financing was provided by Fifth Third Bank and SunTrust Bank. Architectural design was provided by Stantec and the general contractor is Balfour Beatty. ZRS Management is providing leasing and property management services.
WSP named Nolan Rome leader of its U.S. healthcare practice. Rome, a WSP senior vice president, has served on the firm’s property and buildings and healthcare leadership teams for the past several years, and is a co-leader of WSP’s global healthcare practice.
Three industry professionals joined Tranwestern's Fort Worth office: Principal Theron Bryant and Associate Casey Tounget in office agency leasing and Vice President Brent Landfried in industrial tenant advisory services.
Bryant and Tounget together have more than 28 years of combined North Texas commercial real estate experience and have executed transactions totaling in excess of 5M SF. The team joined Transwestern from Coldwell Banker Commercial Advisors DFW.
Landfried has nine years of commercial brokerage experience and was previously market director of Mercer Co. in Dallas, where he led the firm's expansion into the Fort Worth industrial market.
Lee & Associates of Dallas-Fort Worth promoted Stephen Williamson to director. Williamson, who has been with Lee & Associates for 18 months, works in The Design District/Brookhollow markets.
Lee & Associates Dallas/Fort Worth's Nathan Denton and Stephen Williamson sold a 101,500 SF industrial space at 1800 Hurd Drive. The duo represented the seller, BD Land Co. Jackson Cooksey's Trace Elrod represented the buyer, JED Industrial.
Hanley Investment Group Real Estate Advisors' Eric Wohl and Andrew Cunningham represented Albanese Cormier Holdings in the purchase of the 106K SF Renaissance Square, a Class-A regional shopping center in Fort Worth. The shopping center, built in 2014, is shadow-anchored by a Walmart Supercenter. The purchase also included an outparcel with Wingstop, Pizza Hut, Metro PCS and Legacy Texas Bank. CBRE's Jeffrey Jackson represented the seller, Moriah Real Estate Company of Midland.
Glen Oaks Crossing, a 43K SF Dallas shopping center that was 100% leased at the time of sale, has sold. STRIVE's Jason Vitorino represented the seller, a local Dallas developer. The buyer, a Dallas investor, was represented by an outside broker.
The Berkshire Square Apartments, a seven-building, 124-unit property, has sold. Greysteel’s Doug Banerjee, Boyan Radic, Andrew Mueller, Andrew Hanson and Jack Stone negotiated on behalf of the seller. Built in 1969, Berkshire Square sits near the intersection of Highway 75 and Interstate 635.
“The sought-after location in Richardson immediately generated interest from many investors,” Banerjee said. “With over 130 signed CA’s and more than 16 tours, Berkshire Square Apartments closed within three months of going to market, which made for a swift and successful sale for the seller.”
An unnamed natural resources company renewed its 38K SF office lease at The Campus at Legacy, at 5340 Legacy Drive in Far North Dallas. JLL's Steve Thelen and Scott Hage represented the tenant. Peloton Commercial Real Estate’s John Brownlee and Michael Williams represented the landlord, Whetstone Legacy Campus.
Taylor Communications expanded to 220K SF at 8700 Autobahn Drive in Dallas. Holt Lunsford Commercial's John Gorman and Canon Shoults represented the landlord, TA Realty, and CBRE's Ann Huntington represented the tenant.
Motion Industries renewed its 14K SF and 23K SF leases at 2450-2462 Merrit Drive in Garland. Josh Barnes and Ben Wallace of Holt Lunsford Commercial represented the landlord, Taurus Investment Holdings.
366 Processing Services leased 12K SF at Riverbend Business Park in Fort Worth. Clay Balch of Holt Lunsford Commercial represented the tenant.
Holt Lunsford Commercial represented Rialto Capital in a number of leases at its buildings.
- Flip Screen leased 13K SF at 10990 Petal St. in Dallas. Stream Realty's Adam Jones represented the tenant. Holt Lunsford Commercial's Josh Barnes and Ben Wallace represented Rialto.
- Martin Preferred Foods renewed its 20K SF lease at 5556 Redbird Center Drive in Dallas. Canon Shoults, Andrew Gilbert and John Gorman of Holt Lunsford Commercial represented the landlord.
- L.E. Klein Co. renewed 58K SF at 2115 East Beltline Road in Carrollton. Holt Lunsford Commercial's Andrew Gilbert and Jim Brice represented the landlord.
Bohler Uddeholm Corp. renewed its 22K SF lease at 921 Avenue M in Grand Prairie. Holt Lunsford Commercial's Canon Shoults represented the landlord, Sealy.
Peachtree Stair Co. renewed its 26K SF lease at 5200 East Grand in Dallas. Holt Lunsford Commercial's Canon Shoults and Josh Barnes represented the landlord, Frontier Equity, and Buddy Turner of Avison Young represented the tenant.
Sam Pack’s Five Star Ford renewed its 23K SF lease at 1210 Champion Circle in Carrollton. Prologis' Mitch Pruitt represented the landlord, and Jim Brice of Holt Lunsford Commercial represented the tenant.
Fusion Labs has signed a 10-year lease at Prism at Midtown, 5680 Peterson Lane. Whitebox Real Estate’s Grant Pruitt helped negotiate the 14K SF deal.
Venture Commercial Real Estate has completed land acquisitions on two locations for the first Duluth Trading Co. stores in North Texas. The sites, in Denton and Arlington, will be free-standing 15K SF prototypes.
The Denton store, which opened last month, is at 3651 Interstate 35 North and U.S. Highway 380. The Arlington location is at 620 East IH-20 and is scheduled to open this summer.
Venture’s Clay Mote and Charlotte Cooper represented Duluth Trading Co. on both transactions. Baum Realty Group's Matt Fetter and Standridge Cos.' Stacy Standridge and Thomas Crowel represented the seller at the Denton location. Fetter and JLL's Matt Montague represented the seller for the Arlington location.
THIS AND THAT
Newmark Knight Frank has agreed to acquire corporate tenant representation real estate agency Jackson Cooksey. Jim Cooksey, who will join NKF’s Texas office as vice chairman and president of tenant representation in Texas, founded the Dallas-based Jackson Cooksey Co. in 1982.
“The acquisition of Jackson Cooksey is an important step in NKF’s mandate to expand coverage in key markets and bolster service offerings to provide an unparalleled platform to clients regionally and worldwide,” Newmark Group CEO Barry Gosin said in a release. “Specifically, the Jackson Cooksey acquisition expands NKF’s corporate tenant advisory services for office and industrial users throughout Texas.”
Jackson Cooksey has locations in Dallas, Houston, Austin and Denver with approximately 70 professionals in all locations.