Skywalker Property Buys Industrial Parks Outside Fort Worth: The DFW Deal Sheet
Skywalker Property Partners found the industrial assets it was looking for.
The fund manager acquired two industrial assets totaling 95K SF in Granbury for its value-add fund, The Leverage Strikes Back LLC. The properties are the 60K SF Old Granbury Industrial Park at 5513-5435 Old Granbury Road and the 35K SF M&M Ranch Road Industrial at 125 and 129 M&M Ranch Road.
The projects are fully leased to a combined 35 tenants. Old Granbury Industrial Park features 11 buildings on 9.3 acres. M&M Ranch Road Industrial has two buildings on 5.3 acres.
Skywalker is also under contract to buy 2.8 acres between the two properties. That area has been earmarked for industrial outdoor storage and future development.
"Because of Granbury's building moratorium, there should be a lot of pent-up demand for small tenant spaces and IOS," Skywalker Property acquisitions associate Jack Mock said in a statement. "We expect Granbury will grow even faster once new construction can resume."
Skywalker plans to renovate both projects and implement triple-net market-rate leases across the board.
SCM Real Estate’s Chris Mendez will lease and manage the assets. Mock brokered the acquisitions for Skywalker Property. Trevor Short of Trinity Real Estate Investment Services represented Old Granbury's seller, while LanCarte Commercial’s Parker LanCarte and Sarah LanCarte negotiated on behalf of M&M's seller.
SALES
Marcus & Millichap announced the sale of the 105-unit Oak Park multifamily property in Irving. The nearly 85K SF property at 2800 W. Pioneer Drive was built in 1970 and hasn’t changed hands in more than 20 years. Marcus & Millichap’s Bard Hoover and Nick Fluellen had the exclusive listing to market the property on behalf of the seller, David Yilmaz Living Trust. They also procured the buyers, Gabe Craft and Aaron Katz.
LEASES
ML Realty Partners announced that Uniwell Laboratories LLC added 36K SF to its lease at 14801 Sovereign Road in Fort Worth. The expansion brings Uniwell’s footprint to 166K SF of leased space. Savills’ Charles Brewer represented Uniwell, and Adam Brown of NAI Robert Lynn represented ML Realty Partners.
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CONSTRUCTION AND DEVELOPMENT
Huffines Communities started work on its $100M Serenade Texas master-planned community in Celina. The 414-acre project is set to be completed within 24 months. The community will feature 875 homesites, with the potential to expand to 1,100 in the future. The builder lineup consists of Castlerock Communities, Brightland Homes, Impression Homes, Union Main Homes and Historymaker Homes.
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Trademark Property Co. opened The Vickery, a multifamily-led mixed-use community in Fort Worth’s Near Southside District. The 321-unit project was designed and constructed to conserve energy through resource efficiency.
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Toll Brothers opened luxury residential community Toll Brothers at Ridge Pointe Estates at 109 Sweet Tea Road in McLendon-Chisholm.
FINANCING
Institutional Property Advisors secured financing for the acquisition of Vista Ridge Plaza in Lewisville. IPA worked on behalf of the borrower to arrange the nonrecourse bank loan from BankUnited. The property has an occupancy rate of nearly 98%. IPA’s Adam Mengacci represented the borrower.
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Marcus & Millichap Capital Corp. secured financing for the acquisition of Richwood Shopping Center in Richardson. MMCC worked on behalf of the buyer to arrange financing from Inwood Bank. The property was 100% leased with an average tenant tenure of 10 years at the time of the deal. MMCC’s Brandon Wilhite as well as Institutional Property Advisors’ Adam Mengacci and Hayden Sieling represented the borrower.
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Marcus & Millichap Capital Corp. secured financing for the acquisition of the 411-unit Graham Station Self Storage in Arlington. MMCC worked on behalf of the buyer to arrange financing from Ciera Bank. The buyer plans capital improvements such as upgraded gate and access controls, LED lighting and converting to an institutionally managed software platform. MMCC’s Brandon Wilhite represented the borrower.
PEOPLE
Newmark appointed Carla Malone the vice president of property management in Dallas. She will provide strategic management guidance to the business line in the region. Malone has more than 20 years of experience representing institutional and private clients and was most recently managing director at Lincoln Property Co.
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JLL Capital Markets expanded its Texas industrial investment sales and advisory team with the relocation of Senior Director Witt Westbrook from Austin to Dallas. Westbrook joined the firm's Austin office in May 2024 and brings eight years of real estate experience.
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Data center developer and operator CyrusOne promoted John Hatem to president. Hatem will oversee global sales, global procurement and the U.S. design and construction teams.
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Plano-based luxury auto garages company Maranello appointed Brian Benjamin its director of sales. Benjamin brings more than 30 years of automotive experience and was most recently sales manager at Boardwalk Ferrari Maserati.
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Universal Hospitality Solutions hired Maya Jareou as senior director of sales and Cathy Gilbert as associate director of sales at Crowne Plaza Dallas Downtown by IHG. Jareou brings 20 years of experience in corporate business development, group sales, event management and luxury hospitality to her role. Gilbert has 24 years of hospitality experience.
