This Week's Dallas-Fort Worth Deal Sheet
Kirksey Architecture will foray into the North Texas market and partner with Dallas-based th+a.
“Joining forces with th+a in Dallas is a huge step for our firm, one that we believe will provide a tremendous opportunity for staff and market-sector growth,” Kirksey President Wes Good said in a statement. “th+a’s reputation for designing creative environments that are ideal for learning, living, working and healing, and their long-term client base, makes them a natural fit for expanding Kirksey.”
The partnership will enhance “expertise and geographical reach” for the companies, both of which offer architecture, interior design and planning services, per the release. Kirksey has a well-established presence in Austin and Houston but has yet to enter the Dallas market. Th+a, on the other hand, has deep roots in Dallas and more than 24 years of experience.
The companies have most recently partnered on Dallas ISD’s Career Institute South project, funded through a voter-approved 2020 bond.
“I am excited about the opportunities and services that our combined firms present to clients in the North Texas region to shape communities, promote sustainability and influence our environment,” th+a founder and President Todd Howard said.
As of Jan. 11, th+a is Kirksey | th+a, with Howard serving as executive vice president and North Texas director.
Geoff Shelton joined JLL as senior vice president of the Agency Leasing team. Shelton is based in Fort Worth and will be responsible for expanding JLL’s office agency leasing portfolio. Prior to joining JLL, Shelton served as managing principal of the Fort Worth & Las Colinas Office Division at Holt Lunsford Commercial.
An affiliate of Lincoln Property Co. acquired Gateway at Legacy, 6860 North Dallas Parkway in Plano. The Class-AA office property is an eight-story, 209K SF tower that recently underwent a $2.5M renovation to its lobby and common areas. Lincoln Property Co. was the original developer of the property, which was completed in 2006 and formerly known as Lincoln Legacy One.
Dallas-based Tango, a provider of cloud-based integrated workplace management software, acquired AgilQuest, a provider of employee engagement and productivity solutions. The acquisition will combine AgilQuest’s desk-booking and conference room scheduling software solutions with Tango’s suite of workplace management tools, including transactions, lease accounting and administration, and facilities maintenance.
Tech-enabled hospitality startup The Guild acquired CREA Management LLC, the property management division of Cypress Real Estate Advisors, a multifamily developer and investment firm. The Guild, which now manages more than 2,000 units across four states and seven markets, including Dallas, has more than 10,000 units already under development. Katya Watson will serve as president of multifamily operations for The Guild, and John Burnham, managing director of CREA, will sit on the board of directors for The Guild.
Cushman & Wakefield represented Momentum Commercial Realty in the disposition of an 80-building office portfolio totaling 2.3M SF. The buildings are primarily concentrated in the Richardson, Plano, Addison, Garland, Quorum/Bent Tree and Allen submarkets. Jud Clements, Robby Rieke, Taylor Starnes and Macki McKim of Cushman & Wakefield’s Industrial and Office Capital Markets Team represented the seller. The portfolio was sold to CIP Real Estate, a real estate investment and management company. The portfolio was amassed by Momentum’s Roy Greenberg and Bryan Lurie over a 25-year period.
Younger Partner Investments acquired The Shops at Prosper Trail at the northeast corner of Preston Road and Prosper Trail in Prosper. Younger Partners will handle property management and leasing at the 96.9K SF retail center. Micah Ashford, Moody Younger and Kathy Permenter with Younger represented YPI in the acquisition. JLL’s Adam Howells represented the seller, MQ Development Co., and financing was arranged by Adam Mengacci with Hamilton Realty Finance. YPI’s legal representation was Mark Sloan of Holland & Knight. Terms of the deal were not disclosed.
CONSTRUCTION AND DEVELOPMENT
General contractor and construction management firm Adolfson & Peterson Construction, in partnership with Reunion Rehabilitation Hospitals, announced the groundbreaking of a new location at 4351 Centreway Place in Arlington. The nearly 51K SF, three-story facility was developed by Dallas-based America Development & Investments LLC and designed by Callaway Architecture. The hospital will offer inpatient rehabilitation care for people with neurological and orthopedic conditions and injuries. It is expected to open in January 2023.
Ashton Woods was named the homebuilder for Watters Edge at The Farm, the residential component of the 135-acre mixed-use development The Farm in Allen. The community will include 112 townhomes located at the northeast corner of Alma and Ridgeview drives. The Farm in Allen is being developed by JaRyCo and will include more than 1.6M SF of office space, 142K SF of retail, a 150-key hotel and 60K SF of restaurants, townhomes and urban residential units.
Stream Realty Partners and TRG announced a January groundbreaking on CORE45, a 1.6M SF industrial space southeast of Downtown Dallas. TRG appointed Threecore, a full-service construction firm, to design and build the facility at 1690-1700 East Pleasant Run Road in Wilmer, along with its sister design firm, CESO Inc. The two-building development is expected to open in the first quarter of 2023. TRG, in partnership with Grandview Partners, will provide funding for CORE45. Stream Dallas Managing Director Matt Dornak, Vice President Luke Davis and associate Ridley Culp will oversee leasing efforts.co-
Illinois-based Rock Island Auction Co. broke ground on a multimillion-dollar redevelopment of a 127K SF retail center at 3600 East Harwood Road, Bedford. The firearms auction house plans to possibly relocate its headquarters from the Midwest upon the project’s 12-month completion timeline. Rock Island’s off-market acquisition features a vacant 85.9K SF big-box, formerly a Wal-Mart and most recently a call center, that will be renovated into a showcase for its inventory, including pieces of armaments. Bradford Commercial Real Estate Services, which led the two-year site search, will lease and manage the 11-acre retail center. Bradford Senior Associate Noah Dodge and his partner, Jason Finch, a Bradford vice president, represented Rock Island in the acquisition and will be leasing the available retail space.
THIS AND THAT
Full-service real estate advisory firm Global Real Estate Advisors announced the opening of its Dallas office. The company specializes in multifamily acquisitions, dispositions and financing. Founding partner Todd Franks, who formerly served as executive managing director for Greystone SG, will lead the Dallas office.
Industrial real estate investor, developer and asset manager CapRock Partners announced its expansion into Texas with its first office location in DFW. The company is pursuing value-add industrial real estate investment opportunities as well as land sites or large-scale logistics development. John Pharris, CapRock’s co-founder and president, will lead the Dallas office.