This Week's Dallas-Fort Worth Deal Sheet
A major renovation of Meadow Central Market, a North Dallas retail center anchored by Tom Thumb, was completed in late April.
The 109K SF center, located at 10455 North Central Expressway, is one of the area’s oldest grocery-anchored retail centers, according to Weitzman. The development’s Tom Thumb, which also underwent extensive renovations, is the grocery chain’s second-oldest store still in its original location, according to Christy Lara, Tom Thumb’s director of public relations.
Jennifer Chandler, Weitzman’s senior asset manager for the project, said Meadow Central Market has benefited from the growth of nearby single and multifamily properties over the years. Meadow Central is one of the densest trade areas in the Dallas market, she added.
“With this renovation, Weitzman made a major investment to ensure the center continues as a retail and community destination for years to come,” Chandler said in a statement.
Tom Thumb renovations included an expanded beer and wine section, a full-service seafood department, an expanded bakery, and remodeled produce, dairy and meat departments, according to Weitzman. The store also has a new facade, signage, landscaping, outside seating areas, green space, parking and lighting.
The architect for the remodel was Hodges & Associates. Chandler directed the renovation on behalf of the center’s ownership and Chas Fisher, director of DFW construction with Weitzman, managed construction.
Colliers sold 6340 International Parkway in Plano, a multitenant office investment. Cody Payne, senior vice president of Colliers, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was a cross-asset buyer also secured by Colliers.
Lee & Associates DFW facilitated the sale of a 42K SF industrial space at 296 Freeport Parkway in Coppell. Jeremy Mojica and Nathan Denton of Lee & Associates DFW represented the buyer, Berkeley Partners. The seller was Alford Coppell Real Estate Holdings LLC.
CBRE National Partners announced the sale of TCC Altamoore, a Class-A+ industrial park located at 9280, 9186 and 9190 Van Horn Drive, Dallas. KKR purchased the 388K SF, three-building asset from Trammell Crow for an undisclosed price. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.
Walton Global closed the sale of 1K acres of land in Gunter. The property, called Elm Creek, was acquired by a partnership led by Rex Glendenning of REX Real Estate. Caleb Lavey with REX Real Estate and Taylor Boyd with Adler Properties acted as brokers for the buyer and seller. The concept plan includes a mixed-use, master-planned community with single-family housing and commercial and recreational open space.
Lee & Associates DFW negotiated an industrial sale transaction of 16K SF in Fort Worth. Robert Miller of Lee & Associates DFW represented the landlord.
JLL, representing Bright Realty, brokered a 71K SF office lease for WIS International at Bright Realty’s Crown Centre. The corporate campus is on 140 acres at Castle Hills in Lewisville. Upon completion, it will include up to 2,000 multifamily units, 3M SF of office space, a 500-room hotel and 140K SF of other nonresidential commercial uses. Robbie Baty and Mike Wyatt of Cushman & Wakefield represented the tenants. Lauren Halstedt, Ashley Curry and James Esquivel from JLL represented the landlord.
CONSTRUCTION AND DEVELOPMENT
Greystar Real Estate Partners LLC broke ground on the McKinney Airport Trade Center, located on FM 546/Harry McKillop Boulevard. Randy Wood, NAI Robert Lynn executive vice president, represented Greystar on the purchase of the land, along with Bill Cox and David Cox from Carey Cox Co. The 70-acre property will include five buildings spanning 740K SF. NAI Robert Lynn was awarded the management and leasing for the industrial campus and will partner with Carey Cox on the leasing assignment. Construction has started on the trade center, with Phase 1 expected to be complete by the end of this year.
USAA Real Estate and its development partner, Seefried Industrial Properties, are nearing completion on a warehouse in Dallas built with sustainable materials. The project, located at Southfield Park 35 in South Dallas, was built using timber instead of steel and concrete, which reduced the carbon impact of construction by 45%. Chris Teesdale and Tom Pearson with Colliers International will be marketing the project.
THIS AND THAT
Flexible living platform The Guild added 212 Melba by The Guild in Oak Cliff to its portfolio. The business offers full-time residency, short-term rentals and extended stay for travelers at its properties. The new Oak Cliff property, located at 212 Melba St. in Dallas, is a 55-unit multifamily property with ground-floor retail, slated to open in July. The project is the first ground-up residential development by Mintwood Real Estate, a longtime partner of The Guild.