This Week's Dallas-Fort Worth Deal Sheet
Forney continues to attract new commercial businesses as DFW residents flock to the city, looking for affordable homes and lifestyles.
McDonald's acquired 1.2 acres at Woodland Crossing in Forney to build its second location in the city.
The 22-acre Woodland Crossing development is being developed by Glen Gilani at F.M. 548 and U.S. Highway 380.The McDonald's will sit near a RaceTrac and Firestone Complete Auto Care center.
Forney is becoming a top retail destination, with the city sitting 22 miles east of Dallas and housing a population of 90,000 people with average household incomes in the $90K range.
“Woodland Crossing is in the middle of the city and they’ve done fantastic work to make the location easily accessible to passing traffic. I know they’ll have tremendous success at their newest location.”
Witt is marketing Woodland Crossing and represented the seller, Glen Gilani, during the transaction, while Sandia Commercial Real Estate's Lem Miller and Andy Hechavarria handled negotiations for McDonald's.
The 280-unit multifamily community known as River Park in Fort Worth is in the hands of a new owner, Westmount Realty Capital LLC.
Westmount Realty Capital acquired the site at 3309 River Park Drive in Southwest Fort Worth as a value-add play. The buyer envisions the launch of interior and exterior upgrades along with improved amenity packages, a renovated clubhouse and more contemporary furnishings.
The community is 35 years old and comes with 27 buildings situated on 9.8 acres.
“Westmount has been active in the multifamily space in North Texas for 30 years, but the acquisition of River Park marks our first multifamily purchase in Fort Worth,” Westmount Realty Capital CEO Cliff Booth said in a statement.
Cawley Partners sold the 248K SF Toll Hill Office Park campus in Dallas to Balfour Pacific Capital.
The two-building, Class-A office site sits at 5310 and 5440 Harvest Hill Road at the corner of Harvest Hill and the Dallas North Tollway. The location is one block south of LBJ Freeway.
The property will eventually function as part of the Dallas Midtown urban redevelopment project, which will bring luxury hotels, multifamily and retail back into the area.
JLL's Parker McCormack represented the seller, and Jason Piering and Will Mogk from the JLL capital markets finance team helped the buyer procure funding for the acquisition loan.
ML Realty Partners announced the completion of several lease deals across the Dallas-Fort Worth Metroplex this past month. The company's recent transactions include the following:
- Butler Animal Health Supply signed a 120K SF lease at 14800 FAA Blvd. in Fort Worth. Colliers' Bob Acuff represented Butler.
- Force America renewed a 12K SF lease at Union Bower Business Park in Irving. Todd Poticny and Ryan Boozer of Stream Realty handled negotiations for Force America.
- Jun Ceramic Inc. (dba Cepac Tile) inked a 16K SF lease at Union Bower Business Park in Irving. Mercer Co.'s Keenan Cook represented Jun Ceramic, while Holt Lunsford's Andrew Gilbert represented ML Realty Partners.
- Select Millwork renewed a lease for 10K SF at Union Bower Business Park in Irving. Randy White Real Estate Services' Randy White represented Select Millwork.
- W.W. Grainger renewed a 39K SF lease at 8301 John W. Carpenter Freeway in Dallas.
- The Spencer Co. renewed a 44K SF lease at 1184-1188 Quaker Court in Dallas. Baldwin Company Investments' George Baldwin represented the tenant.
- G&C Direct Mail Marketing signed a 60K SF lease at 1111 Regal Row in Dallas. Laughlin Commercial's Grant Laughlin represented G&C, while CBRE's David Easterling represented ML Realty Partners.
- The J.M. Fry Co. signed a renewed lease for 11K SF at 920 Ave. N in Grand Prairie. Capstone Commercial's Chris Bly represented J.M. Fry.
THIS OR THAT
The Southwest Region Building Owners & Managers Association announced this year's winners in both the Outstanding Building of the Year and the Member of the Year award categories:
- Sammons Cancer Center won in the best Medical Office Building category. The owner is DOC-3410 Worth St. MOB LLC, while the asset is managed by Physicians Realty Trust. The property manager is Susan Leinweaver.
- Greenhill Towers was named the Suburban Office Park in the mid-rise category. The site is owned by Codina Partners and managed by Crescent Real Estate LLC. Jonathan Jones serves as property manager.
- FOURTEEN 5 secured the win in the 100K To 249K SF building category. The property owner is 14555 Building Owner LLC, while Cawley Partners serves as manager and Teresa Shiller is property manager.
- McKinney & Olive secured the top spot in the 500K to 1M SF category. McKinney & Olive owns the property, which is managed by Crescent Real Estate. Property managers include Angelique Wade and Jamie Vaughan.
- The outstanding member of the year is Cathy Kuebler, who is BOMA Greater Dallas' past president and a vice president of property management for Billingsley Co.