This Week's Dallas-Fort Worth Deal Sheet
TOCA Football Inc. has formed a strategic partnership with Blue Sky Sports Center, a move that makes TOCA Football the largest indoor soccer center operator in North America.
Blue Sky operates four indoor sports venues in Allen, Carrollton, Keller and The Colony. In addition to the DFW facilities, TOCA plans to acquire an additional 20 soccer centers in key U.S. markets by the end of the year as well as three additional TOCA Social entertainment venues, per a release. The first TOCA Social venue outside of the UK is expected to open in the Dallas Design District next year.
“We are delighted to be bringing TOCA’s cutting-edge training technology and immersive experiences to players of all abilities to improve their game and to have fun,” TOCA CEO Yoshi Maruyama said in a statement. “Dallas has a strong soccer and entertainment culture, and we are committed to building enduring relationships in this community.”
The TOCA soccer centers will feature indoor training, league play and children’s programs. The company’s proprietary interactive training technology, which measures accuracy, speed and agility, will also be used.
“TOCA's training regimen is a game changer for player development, and its culture of inclusivity and focus on fun align with our values,” Blue Sky Sports Center owner Peter Brody said in a statement. “TOCA has an incredible track record of opening new centers while respecting the local soccer culture.”
LEASES
Ace Hardware leased 14.4K SF at Northstar Plaza, a grocery-anchored retail center located at the intersection of West Buckingham Road and Garland Avenue. Scott Smith with Weitzman handled negotiations as the leasing agent for Northstar Plaza. Andrew Shaw with Edge Realty Partners represented the retailer.
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Whitebox Real Estate negotiated a 12.6K SF renewal for Embroidery Graphix at 1489 Prudential Drive, Dallas. Sean Smith, Brendan Zrowka and Lauren Pesqueda represented the tenant on the transaction. Jason Moser of Stream Realty represented the landlord.
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Cybersecurity consulting firm Ascent Solutions signed a 30K SF lease at Cypress Waters, 2999 Olympus Blvd. in Coppell. The company plans to move into the new space in early 2023. Cribb Altman of JLL and Shannon Reilly of Reilly Commercial represented Ascent, and Billingsley Co. is the developer.
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DGM Services Inc. signed a 69.6K SF lease at Valwood Trade Center, 1545 Crescent Drive, Carrollton. Andrew Gilbert and Keaton Brice with Holt Lunsford Commercial represented the landlord, TA Realty. Steven Berger with CBRE represented the tenant.
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Velvet Taco has leased 11K SF for its restaurant support office at The Commons in Addison, a 90K SF, newly updated office building owned and managed by Triten Real Estate Partners. CBRE Senior Vice Presidents Shannon Brown and Ben Davis represented Triten in the lease negotiations, and CBRE Executive Vice Presidents Rich Flaten and John Ellerman represented Velvet Taco. The office is projected to open in the fall.
SALES
A joint venture between Partners Group and Trinity Fund Advisors LLC acquired the Four Seasons Resort Dallas at Las Colinas, a 431-key luxury hotel in Irving. Following the transaction, the JV plans to invest millions in improvements, including renovating all guest rooms and villas, updating the hotel’s food and beverage outlets, renovating the meeting space and activating the outdoor pool area.
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Real estate investment firm Faropoint acquired six warehouses in Dallas for a combined $59M. The six properties encompass nearly 550K SF and include 1709 I-45 South, a 245K SF multitenant distribution center; 3857 Miller Park, a 57K SF corporate use sale-leaseback; 10501 King William, a 48.7K SF multitenant, front-load industrial warehouse; 11839 Shiloh Road, a 100K SF standalone, single-tenant warehouse; 2445 Santa Ana, a 40K SF single-tenant warehouse; and 1721 Susan Drive, a 56.8K SF single-tenant warehouse.
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Global Real Estate Advisors sold four multifamily properties in the Metroplex totaling 851 units. The properties included Villa Placita, a 122-unit complex in Garland; Antigua Village, a 152-unit complex in Fort Worth; WaterWalk Las Colinas, a 153-unit complex in Irving; and The Club at Fossil Creek, a 424-unit complex in Fort Worth. Mark Allen and Zac Thomas of GREA brokered the sales.
CONSTRUCTION AND DEVELOPMENT
Commercial general contractor Arch-Con Corp. is breaking ground on Highfield Preston for Houston-based developer i3. Highfield Preston is a three-building, 251-unit apartment development at 4465 South Preston Road in Celina. I3 closed on the 7.9-acre property in December. The transaction was brokered by Simon Beakley and Collins Meier with Davidson & Bogel Real Estate LLC. The development is slated to be complete in August 2023.
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Construction is underway on the first and largest building in the 520-acre Majestic Silver Creek Business Park in Fort Worth. Phase 1 includes speculative construction of a 1M SF building, scheduled to deliver in Q2 2023. Pad prep is also underway for an adjacent 732K SF building. Developer Majestic Realty has plans to deliver 2.3M SF of Class-A manufacturing, warehouse and distribution product spread across four buildings in Fort Worth over the next 14 months.
THIS AND THAT
Mapletree has appointed Cushman & Wakefield to market the newly renovated, Class-A office building within the Galatyn Commons office campus in Richardson. The 215K SF space is one of the four buildings within the 800K SF campus.
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Dallas-based Tango, a provider of integrated workplace management systems solutions, acquired billie, a digital workplace software that helps organizations streamline and simplify their hybrid workplaces. The addition of billie further expands Tango’s suite of tools beyond traditional real estate planning, building and operating needs to focus on the people side of real estate, to ensure employees are engaged and productive in the hybrid workplace.
