Fort Worth Warehouse Once Home To Cheaper Than Dirt Sold To CanTex: The DFW Deal Sheet
The former owner of online sporting goods dealer Cheaper Than Dirt sold off his last asset from the company.
Local businessman Michael Tenny sold a 68K SF building in North Fort Worth to investment group CanTex RE Holdings LLC.
The building’s location on 3.9 acres at 2500-2536 NE Loop 820 generated interest from almost 20 investors, Bradford Commercial Real Estate Services Executive Vice President and Managing Partner Todd Lambeth said.
He and Bradford’s Richard Hitz represented the seller of record, Direct Investment Ltd.
"CanTex is one of the most active investors in Fort Worth," Lambeth said in a statement. "There will be lots of cap-ex put into upgrading the property to get it ready for new tenants."
The building was developed in 1981 for multitenant use and converted to single-tenant when Tenny opened Cheaper Than Dirt roughly 35 years ago.
Dallas-based CanTex retained Bradford to lease the building. Lambeth said the property will likely hit the leasing market in the coming weeks.
SALES
Sunwest Real Estate Group and AKRE Partners acquired the 36K SF North Commercial Industrial Park at 1000–1008 N. Commercial Blvd. in Arlington.
The new owners plan to complete exterior improvements such as roof, pavement and painting work as well as the renovation of interior suites with refreshed offices and LED lighting.
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Younger Partners brokered the sale of the 82K SF Bent Tree Plaza, a professional office and medical complex at 16610-16660 N. Dallas Parkway and 4950 Westgrove Drive in Far North Dallas. Bent Tree Plaza was 72% leased at the time of the sale.
Younger Partners’ Tom Strohbehn and Scot Farber represented the undisclosed seller, and the firm’s Bryon McCoy will continue to handle leasing at the property.
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An undisclosed Houston-based private investment group purchased the 183K SF Square 67 retail property in Dallas as part of a 1031 exchange. The 17-acre property at 2550 W. Red Bird Lane was 99% occupied at the time of the sale.
Marcus & Millichap’s Chris Gainey and Philip Levy marketed the property on behalf of the seller, a different Houston-based private investment group, and procured the buyer.
CONSTRUCTION AND DEVELOPMENT
The Dallas Wings and the city of Dallas broke ground on the team’s nearly 71K SF practice facility at Joey Georgusis Park. The $48.6M facility will feature two courts, a 3,800 SF locker room, more than 4,000 SF of strength and conditioning space and multipurpose spaces for youth programs, local athletics and special events.
The facility is expected to open before the 2026 WNBA season.
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Mattamy Homes will construct 140 homes in the next phase of The Bridges at Preston Crossings, a resort-style master-planned community in Gunter. The new phase will feature a mix of one- and two-story single-family homes built on 50-foot homesites.
A model home is scheduled to open in November with first sales to follow in February.
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JPI broke ground on the 461-unit Jefferson Bonnie Brae workforce housing community in Denton. The $132M project will be owned by the Denton Housing Authority and funded entirely through tax-exempt municipal bonds arranged by Berkadia.
JPI will oversee development, construction and asset management.
FINANCING
DHA, Housing Solutions for North Texas, secured a $69M bond reservation from the Texas Bond Review Board that will allow the agency to redevelop the Roseland Townhomes and Roseland Estates properties.
DHA will renovate 274 units to address local affordable housing needs and preserve the established community. Scheduled for completion in 2027, the project will modernize units with new kitchens, bathrooms, plumbing, flooring, appliances and fixtures as well as extensive exterior upgrades.
PEOPLE
Lance Wright joined WindMass Credit as chief production officer. Wright will lead loan origination and production efforts as WindMass Credit focuses on providing five-year, fixed-rate, senior mortgage debt across multifamily real estate.
Wright brings more than 30 years of real estate lending experience, most recently as managing director at Greystone.
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Greystone added Joe James as head of asset management for bridge lending. Based in Dallas, James will oversee all aspects of Greystone’s healthcare and multifamily bridge loan asset management platform.
James has more than 30 years of commercial real estate finance experience, including as co-chief credit officer at Preston Hollow Capital.
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Pacific Elm Properties named Billy Prewitt its CEO and promoted Clint Corn to chief investment officer. Prewitt, a founding firm partner and its former chief investment officer, succeeds Jonas Woods, who will transition to a strategic advisory role.
Corn was formerly Pacific Elm’s managing director.
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RREAF Holdings added three executives to its leadership team. Brad Busby was appointed executive vice president, hospitality. Kyle McKechnie was named executive vice president, outdoor living.
Beth Fenton was appointed vice president, client development.
Busby will orchestrate the expansion of RREAF’s hospitality platform. He has more than 20 years of senior leadership in hospitality. McKechnie will oversee the outdoor communities platform and Fenton will spearhead client development.
