This Week's Dallas-Fort Worth Deal Sheet
Younger Partners Investments acquired Crockett Row, a 282K SF urban village in Fort Worth.
The development includes Class-A office and retail space within the city’s Cultural District, located just west of downtown. The occupancy at the time of closing was close to 75%, with tenants ranging from LA Fitness, Fidelity Investments and Movie Tavern to Common Desk. Younger Partners will handle property management and leasing of the property.
“Crockett Row was a target investment for us because of its strong supporting demographic and iconic location in the Cultural District, next to some of Fort Worth’s most affluent neighborhoods,” Younger co-Managing Partner Kathy Permenter said.
Permenter and co-Managing Partner Moody Younger, along with Managing Director Micah Ashford, represented YPI in the acquisition. Financing was arranged by Adam Mengacci of Hamilton Realty Finance. Mark Sloan and Jacob Dow at Holland & Knight provided legal representation.
Terms of the deal were undisclosed.
Colliers DFW hired Associate Vice President Mason Pritcher and Associate Vice President Jack Beare to its office agency leasing team. Pritcher and Beare will focus on marketing and leasing office properties throughout the Dallas market and help grow the existing portfolio alongside Executive Vice President Sara Terry and Associate Vice President Reegan Busby. Pritcher and Beare join Colliers from Holt Lunsford Commercial, where they leased a diverse portfolio of office product throughout the Metroplex.
Holt Lunsford Commercial promoted three employees to lead and manage industrial brokerage efforts. Andrew Gilbert, who has been with HLC since 2011, has been named vice president of the Dallas industrial division, with Keaton Brice and Maddy Canty both moving to market director positions.
Crescent Real Estate secured three new leases in The Crescent. Dorsey & Whitney LLP is leasing 35K SF on the 16th floor of buildings 200 and 300; Vedder Price P.C. is leasing 23K SF, the full fourth floor of Building 300; and Weil, Gotshal & Manges LLP is expanding its space by 11.6K SF, bringing its total square footage to 66K SF. Weil will occupy the entire third floor in all three towers of The Crescent.
Crescent Managing Director John Zogg, Vice President of Leasing Tony Click and Senior Leasing Associate Jordyn Allen worked on the leases. Customer brokers included Kelley Kackley and Bret Hefton of JLL for Dorsey & Whitney; Joe Learner of Savills for Vedder Price; and Josh White of CBRE for Weil.
The Dallas Morning News leased 14K SF of warehouse space in Falcon Centre, 1707 Falcon Drive in DeSoto, from Owen Bros Enterprises. Brian Pafford and Michael W. Spain, executive vice presidents and managing partners of Bradford Commercial Real Estate Services, represented the landlord. Todd Awe of TAG Realty Management Inc. represented the tenant.
Mountain Accessories leased 52K SF at DFW Corporate Center, 2611 Regent Blvd., in Irving. Mitch Pruitt represented the landlord, Prologis Targeted U.S. Logistics Fund. Lena Pierce and Ryan Boozer with Stream Realty Partners represented the tenant.
Insight Direct USA leased 249.5K SF at 46 Ranch Logistics Park, 5700 Campus Drive, in Fort Worth. Jeff Rein, Luke Davis and Seth Koschak with Stream Realty Partners represented the landlord, Nuveen. Colliers International represented the tenant.
Consilium Staffing leased 28K SF at Las Colinas Corporate Center, 6363 North State Highway 161, in Irving. Altschuler and Co. represented the landlord, Piedmont. Luke Davis and Tim Terrell with Stream Realty Partners represented the tenant.
LP Analyst leased 14K SF at Saint Paul Place, 750 North Saint Paul St. in Dallas. Marissa Parkin and Rhett Miller with Stream Realty Partners represented the landlord, Quadrant. Cushman & Wakefield represented the tenant.
Truist Bank renewed its 58K SF lease at Bardin Pointe, 1351 East Bardin Road in Arlington. Chris Doggett, Cullen Donohue and Tim Terrell with Stream Realty Partners represented the landlord, Hauck Holdings Arlington.
Lee & Associates DFW negotiated several industrial lease transactions:
— 49K SF at 2001-2023 Exchange Drive in Arlington. Reed A. Parker and Mark Graybill of Lee & Associates represented the landlord, Link Logistics. Greg Nelson and Jimmy Holcomb of Paladin represented the tenant, Prestige Autotech.
— 40K SF at 2821 East Randall Road in Arlington. Mark Graybill and Reed A. Parker of Lee & Associates represented the landlord, Arden Logistics Management LLC. Riley Maxwell and John Brewer of Transwestern represented the tenant, Incab America.
— 40K SF at 1019 Enterprise Place in Arlington. Lee & Associates' Mark Graybill represented the landlord, High Street Logistics Properties, while Reed A. Parker represented the tenant, Bassett Furniture.
The Jacobson Co. acquired Atlantica at Burleson, a Class-A multifamily community comprising 217 units at 285 Southeast John Jones Drive, in Burleson. The $57M acquisition was brokered by Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill and Jeffrey Kindorf of Institutional Property Advisors. Financing was arranged by Brian Eisendrath and Cameron Chalfant of IPA Capital Markets.
Faropoint Ventures purchased a 163K SF industrial building at 4666 Duncanville Road in Dallas. Adam Jones and James Mantzuranis with Stream Realty Partners represented the buyer. Colliers represented the seller, 4666 Duncanville.
Archway Equities acquired the 192-unit Toscana Apartments in Carrollton from HLC Equity. The complex, located at 17910 Kelly Blvd., was built in 1986 and brings the California-based real estate investment firm’s Texas holdings to about 3,000 units. David Austin and Rob Key of JLL brokered the transaction.
Bill Bledsoe, senior vice president in the Land and Investments Division at Henry S. Miller Brokerage, brought together Avondale Development Group and Avod Holdings LLC, to complete the sale-transfer of 21 acres along Bonds Ranch Road in North Fort Worth. Avondale Development retains almost 175 acres behind Avod’s 21-acre frontage that will be developed into a retail center. Avondale Development plans to build small industrial and flex-warehouse suites on the remaining acreage.
CONSTRUCTION AND DEVELOPMENT
Merriman Anderson Architects revealed its design of McLaren Automotive’s new North American headquarters at 1405 South Belt Line Road in Coppell. The firm provided architecture and interior design services to the 31K SF campus featuring a showroom, training center, workshop, executive suite and administrative offices.
M2G Ventures is redeveloping The Archetype at 3131 Irving Blvd. in Dallas into an urban industrial project. Formerly Commonwealth Center, The Archetype’s redevelopment includes a full rebrand and renovation, major capital improvements, storefront upgrades, environmental graphics, enhanced landscaping and hardscaping, lighting upgrades and public art installations. The development will be able to accommodate leases ranging from 2.5K SF to 25K SF.
CLX Ventures alongside Principal Real Estate Investors broke ground in July on a Class-A industrial park in Denton. When complete, the three-building project will be situated on approximately 73 acres and total 1.2M SF. The property will be leased by Matt Carthey, Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial. The development is expected to be complete in August 2023.
THIS AND THAT
Edge Realty Partners entered an agreement with DLC Management Corp. to lease more than 1M SF at The Village at Allen and White Rock Marketplace. The former was built in 2009 and includes more than 836K SF. The latter is located at the intersection of Garland and Jupiter roads in Dallas and totals 275K SF.
Dallas-based experience consulting company geniant acquired Chicago-based architecture and interior design firm Eastlake Studio. The teams will integrate architecture and digital solutions into experience consulting to deliver exceptional experiences for employees and customers.