The Week Dallas-Fort Worth Deals
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The North Texas chapter of the National Association of Office and Industrial Parks selected JLL's Terry Darrow as Industrial Broker of the Year and JLL's Brad Selner as Office Broker of the Year.
The announcement came at NAIOP's annual awards event on Friday. Terry and Brad were nominated by principal members of the chapter for demonstrating consistent performance, excellent business ethics and an active involvement in Dallas volunteer organizations. The pair are consistently ranked among JLL’s top producing professionals. Terry has completed 750M SF of transactions valued in excess of $1B throughout his career. In 2014, Brad repped four Fortune 500 companies in more than 2.9M SF of assignments valued in excess of $850M.
Fort Worth CREW selected its annual award winners with Trademark Property’s Monica Luera named as the Member of the Year. The Carla Higgins CREW Future Leader of the Year was presented to Chris Brooks of Spirit of Texas Bank and the Sponsor of the Year was awarded to Southwest Bank. Trademark’s Waterside earned Deal of the Year accolades. The Susan A. Halsey Excellence in Leadership Award was presented to Nina Petty of Tarrant County College District.
LandPlan Development Corp's new 52k SF Park Hill MOB and ambulatory surgical center at Kimzey Street and Locke Avenue in Downtown Fort Worth was completed by Adolfson & Peterson. Ascension Group Architects designed the project.
Construction wrapped up on two industrial warehouse facilities: the 512k SF Parc Royal (pictured) at 3700 W Royal Ln in Irving and Lakeside Ridge Distribution Center at 1201 Lakeside Pkwy and 501 Gerault Rd in Flower Mound. The Parc Royal project team included developer Jackson-Shaw, GSR Andrade Architects Inc., civil engineer Halff Associates Inc., and MYCON General Contractors. The 453k SF Lakeside Ridge project team is owner/developer Crow Holdings, construction manager Pritchard Associates, AZIMUTH Architecture, civil engineer Pacheco Koch and MYCON General Contractors.
Jennifer Pierson left CBRE to start her own firm, Pierson Retail Advisors. She’s starting the firm with her longtime partner and sister-in-law, Beth Pierson, client services specialist Debora Haught, a financial analyst and a graphic designer.
Larry Corson was appointed co-president at Wilbow Corp. He comes from Cooper & Stebbins, where he was director of residential development.
Rosemont Realty promoted Jason Kuester to SVP of acquisitions and asset management and promoted Clay Young to VP of operations for the Texas region, which also includes the company’s assets in Texas and Oklahoma.
NAI Robert Lynn promoted Rick Medinis and Tyson Erwin to co-presidents of the industrial division. Together they will be responsible for managing the division and will continue to focus brokerage services on the Northwest Dallas market. Former president of the industrial division Craig Jones has left to pursue other opportunities. Matt Elliott, EVP, has assumed the market director role overseeing the South Dallas industrial market.
THIS & THAT
After more than 40 years of serving the US Hwy 380 corridor in Aubrey (just east of Denton), the original Parker Brothers Trail Dust Steakhouse shuttered its doors over the weekend. Famed as much for cutting off people's ties (because you don't go there in a suit) as it is for the steak, the restaurant (on the north side of 380 and adjacent property on the south side) was reportedly sold to Centurion American for multifamily and retail projects. But, don't fret over missing out on two-stepping on weekends and getting your steak cooked to order, the restaurant is planning to open a new location on May 1 at 1200 S Stemmons St in Sanger. No word on if you can wear a tie to the new location.
Brookshire Brothers signed a 10-year 22k SF lease at Northstar Center in Pilot Point. The space was recently vacated by ALCO Stores, which filed for bankruptcy. Renovations will begin soon to convert the building to a full service grocery store. Axis Realty Group’s Alex Payne and Teri Dorazil handled the transaction.
Appspace leased 23k SF at 5005 LBJ Fwy in Dallas. NAI Robert Lynn’s Nick Lee repped the tenant. Younger Partners’ Heather Shover and Kathy Permenter repped the landlord.
Stream’s Eric Crutchfield worked a 40k SF lease for Work Area Protection at 2055 Hightower in Garland. He also negotiated a 104k SF lease for Million Dollar Rustic Furniture at 10390 Brockwood Rd in Garland.
Quarries Direct International leased 15k SF at 2605 Freewood Dr. Stream’s Hanes Chatham and Jason Moser repped the landlord. Stream’s Matt Dornak and Adam Green repped the tenant.
MD Helicopters leased 16k SF at 419 Duncan Perry Rd in Arlington. Lee & Associates’ Mark Graybill and Nathan Denton repped the tenant. Landlord A&R Management was repped by Michael Stanzel with NAI Robert Lynn.
Paul Morgan Photography leased an 11k SF building at 921 N Riverfront Blvd in Dallas’ Design District. Venture’s McGregor Converse repped the tenant. Case Commercial’s John Bowles repped the landlord.