This Week's Dallas-Fort Worth Deal Sheet
A Las Colinas office complex just landed millions of dollars worth of new tenants.
San Diego-based building owner Parallel Capital Partners inked several leases valued at $20M for the Urban Towers office property in Irving.
The new tenants are Informa, which leased 23K SF, Teknion Data Solutions (17K SF), Abeam Consulting (10K SF) and Verizon subsidiary Terremark (22K SF).
The property offers two trophy high-rise towers in the Irving office community of Las Colinas.
Parallel Capital Partners acquired the complex in 2013 and now has the asset 85% leased.
EXECS
The AC Hotel Fort Worth is ready for its fall 2020 grand opening with the property’s local leadership now in place.
The hotel's developer, Jackson Shaw, announced Crescent Hotels & Resorts as the official management company for the site, while naming Aaron Oquendo general manager and Jillian Lehmann director of sales.
Lehmann launched her hospitality career at Walt Disney World Resort in Orlando, Florida, more than a decade ago, and she recently served the Hyatt Regency North Dallas as associate director of sales.
She will oversee the hotel's marketing, sales and public relations projects.
Oquendo has nearly 20 years of experience as a hospitality leader and previously served in management roles at The Palazzo at The Venetian in Las Vegas and the Disney Cruise Line. He also oversaw Jackson Shaw’s three Marriott-branded hotels inside the Cascades at The Colony.
He will manage daily hotel operations while leading the AC Hotel Fort Worth staff.
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Avison Young named Giovanni Palavicini one of the principals in its Dallas office. Palavicini is joining the flexible office solutions team overseen by Charlie Morris since last year. Prior to joining Avison Young, he was president of Fronteras Commercial Real Estate.
ACQUISITIONS AND SALES
TXRE Properties acquired the 1420 West Mockingbird Lane office building and launched a renovation project to refurbish the lobby and fitness area and improve ts common areas and restrooms.
Soon after the building's acquisition, TXRE Properties inked a deal to lease 19K SF to the Visiting Nurses Association.
Kolby Dickerson represented TXRE Properties during lease negotiations, while Lincoln Harris CSG’s Michael Doherty represented VNA.
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Rotary Corp. purchased a 101K SF facility at 10355 Sanden Drive in Dallas. Lee & Associates’ Taylor Stell and Brett Lewis represented the buyer. The seller’s name was not disclosed.
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A development that will eventually include 18 townhomes is one step closer to reality with 3.5 acres at Lake Highlands Drive and Easton Road in Dallas now in the hands of AAA Homebuilder LLC. The land seller was represented by Younger Partners’ Michael Ytem and Robert Grunnah.
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The 118-unit Bishop Highline apartment complex in the Bishop Arts District in Dallas has been sold to Dallas-based Exxir.
The multifamily buildings, which are 96% leased and located at 305 and 431 Melba Street, were previously owned by Houston-based Urban Genesis.
CBRE’s Chris Deuillet and Chandler Sims worked for the seller during negotiations.
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Bruce Long, an individual out of Haltom City, acquired a 14K SF office and warehouse property on 4.1 acres in Northlake. The site is at 4325 Dale Earnhardt Way and was previously owned by 13415 Cleveland Gibbs LLC.
The Michael Group’s Chuck Horton represented the seller, while Henry S. Miller’s Chad Montgomery and Dan Spika represented the buyer.
LEASES
The iconic Fountain Place skyscraper in Downtown Dallas has a new creative tenant. Rouch Architects just subleased the top two floors of the building from Tenet Health.
Younger Partners’ Kathy Permenter and Sean Dalton represented Tenet Health, while NAI Robert Lynn’s Jayson Montoya represented the architectural firm.
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The Paper Master Co. signed a new lease for 17K SF at 5610 Redbird Center Drive in Dallas from landlord Sealy Capital Management.
Holt Lunsford Commercial’s Andrew Gilbert, Canon Shoults and John Gorman represented the landlord, while Laughlin Commercial Realty Group’s Grant Laughlin represented the tenant.
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Novinium Inc. inked a deal to lease 25K SF at 9300 Southwest Drive in Fort Worth. Holt Lunsford Commercial’s Matt Carthey and Thomas Grafton represented the landlord, while ESRP’s Barrett Bufkin represented the tenant.
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Informative Research leased more than 15K SF at Las Colinas Commons in Irving. Holt Lunsford Commercial’s Geoff Shelton and Marshall Mays represented the landlord, West Walnut Hill. Bradford Commercial’s Eric Blais represented the tenant.
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Link Industrial leased 20K SF at 913 West Carrier Parkway in Grand Prairie to Continental Battery Corp. Mark Graybill and Colton Rhodes with Lee & Associates represented the landlord.
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Dalfen Industrial leased 12K SF at 2010 Redbud in McKinney to The Dallas Morning News. Lee & Associates’ Brett Lewis and George Tanghongs represented the landlord.
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Brio Direct Marketing renewed a 15K SF lease at Riverbend Business Park in Fort Worth from Riverbend Properties. Stream Realty’s Luke Davis and Brett Carlton represented the tenant, Brio Direct Marketing. Holt Lunsford Commercial’s Keaton Duhon and Jake Neal represented the landlord.
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Digital Recognition Network leased 10K SF at the Overton Centre in Fort Worth. Holt Lunsford Commercial’s Matt Carthey and Jake Neal handled negotiations for the owner, FLDR/TLC Overton Centre LP, while CBRE’s Jeffrey Eiting represented the tenant.
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Lonestar PHE Services LLC leased 10K SF at 435 County Road 4847 in Haslet, Texas. Landlord Bylo Properties hired Transwestern’s Todd Hawpe to handle negotiations, while Holt Lunsford’s George Jennings and Hogan Harrison represented the tenant.
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Cushman & Wakefield announced more than 550K SF of real estate transactions in Dallas-Fort Worth. Some of the firm's larger deals included the following:
- Reata Pharmaceuticals entered into a 122K SF sublease at 5320 Legacy Drive in Plano. Cushman & Wakefield’s Mike Wyatt, Maureen Kelly Cooper, Robbie Baty and Travis Boothe represented the sub-landlord, Denbury Onshore LLC. CBRE’s Jeff Ellerman and John Ellerman represented the sub-tenant.
- RGN-Dallas IC LLC renewed its nearly 60K SF lease at Lincoln Center at 5420 LBJ Freeway in Dallas. CBRE’s Baron Aldrine and Mike Cleary represented RGN, while the landlord, TIAA, was represented by Cushman & Wakefield’s Matt Schendle and Clint Madison.
- Stonebrook Business Park signed tenant Taylor Morrison Home Corp. to a 26K SF lease at 6735 Salt Cedar Way in Frisco. Cushman & Wakefield’s Robbie Baty and Travis Boothe represented the tenant, while JLL’s Chris Doggett and Ashley Curry represented the landlord, GCRE Stonebrook Office.
- Integrative Emergency Services inked an 18K SF lease at Heritage One and Two, 4835 and 5001 LBJ Freeway in Dallas. Cushman & Wakefield’s Craig Wilson and Travis Boothe represented the tenant, while Avison Young’s Chuck Sellers and Lindsay Wolcott represented the landlord, Brookwood Heritage SQ.
- Ameriprise Financial renewed its 15K SF lease at Gateway @ Legacy, 6860 Dallas Parkway in Plano. Cushman & Wakefield’s Mike Wyatt and Travis Booth represented the tenant, while landlord Equus Capital Partners was represented by Cushman & Wakefield's Trey Smith and Lauren Napper.
- Regus renewed its 15K SF lease at 5956 Sherry Lane in Dallas. CBRE’s Mike Cleary and Layne Mayfield represented Regus, while the landlord, Sherry Realty Holdings, was represented by Cushman & Wakefield’s Clint Madison and Ward Eastman.
- Oceans Healthcare inked a 15K SF sublease in The Campus at Legacy, 5360 Legacy Drive in Plano. Colliers International’s Daniel Rudd and Billy Vahrenkamp represented the sub-tenant while Cushman’s Mike Wyatt, Robbie Baty, Maureen Cooper Kelly and Travis Boothe represented the sub-landlord, Denbury Onshore LLC.
- Case Paper renewed its lease for 25K SF at 2555 114th St. in Grand Prairie. The landlord, Mercer Co., was represented by Corby Hodgkiss, while Cushman’s David Eseke, Clay Balch and Craig Ruoff represented Case Paper.
THIS OR THAT
The Foundry District in Fort Worth is gaining two new hangouts for happy hour lovers.
Developed by M2G Ventures, the revitalized warehouse district is about to be home to New Orleans-inspired cocktail lounge Tulane’s, which opens Feb. 25. The lounge, which occupies space on the 2700 block of Weisenberger in Fort Worth, offers a full bar to district visitors and is owned by Daniel Zapata and Amanda Jones.
Construction also is underway on Maple Branch Brewing, a 14K SF taproom and biergarten operated and owned by Alyssa and Stuart Maples. The Texas Christian University grads intend to open the site in The Foundry District this summer.
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The Californication of Texas hospitality continues with a major Los Angeles-based restaurant opening its first DFW location.
Sandwich and salad chain Mendocino Farms announced plans for a Downtown Dallas location after opening three locations in Houston.
The sandwich and salad concept launched in Los Angeles 15 years ago under the helm of couple Mario Del Pero and Ellen Chen.
The Downtown Dallas location opens this March.
