This Week's Dallas-Fort Worth Deal Sheet
Creative agency Lerma Advertising has doubled the size of its Dallas headquarters.
The firm is expanding from 28K SF to 56K SF at The Luminary, located at 401 North Houston St. in the West End district of Downtown Dallas, according to a news release. The building was recently purchased by Harwood International.
"Our expansion is an incredible testament to our team's hard work, talent, and their commitment to our culture," Lerma CEO Pedro Lerma said in a statement. "I believe that a great office space improves productivity and company culture. We look forward to continuing to do great things in The Luminary for many more years and, hopefully, many more expansions."
Stream Realty Partners Managing Director Dan Harris and senior associate Nate Hruby represented Lerma in the transaction. Senior Director of Project Management Services Bobby Kunkle provided construction management services.
Evan Altemus joined Partners as vice president of brokerage services in its DFW office, where he will focus on multitenant sales transactions. Jerod Hangartner will lead brokerage services for the DFW office, which opened in November. Altemus joins Partners from Stan Johnson Co./Northmarq.
Stephen Schmidt, a commercial real estate and finance professional with more than 25 years of experience, joined Weitzman as chief investment officer. In this role, Schmidt is responsible for focusing on investment opportunities, the capital markets and financing relationships on a statewide basis. Schmidt comes to Weitzman from Dallas-based Cypress Equities.
Samsung leased 671K SF at Fort Worth Logistics Hub Building 1 in South Fort Worth. VanTrust Real Estate’s 75-acre development consists of 1.3M SF in two buildings. Building 1, designed by Alliance Architects and constructed by Bob Moore Construction, was delivered in the first quarter of this year. Phase 2 of the project will be a 607K SF building, and construction is expected to be finished in the first quarter of next year.
Colliers facilitated the sale of Colleyville Square Business Park, a four-building, multitenant office complex at 6211 Colleyville Blvd. in Colleyville. Senior Vice President Cody Payne of Colliers had the exclusive listing to market the property on behalf of the seller, a private investor.
CONSTRUCTION AND DEVELOPMENT
The Hub in Allen opened last month as part of the first phase of The Farm in Allen, a new mixed-use development. The 3-acre, open-air venue and 15K SF indoor food hall offers multiple dining options and daily entertainment. Upon completion, The Farm in Allen will include 1.6M SF of office, 142K SF of retail, a 150-key hotel, 60K SF of restaurants, townhomes and 2,400 apartments.
City leaders, along with Saigebrook Development and O-SDA Industries, are preparing to break ground on Kiva East, a new $25M mixed-income housing community that will bring 87 units of affordable and market-rate housing to Old East Dallas. The project is backed by $2.48M in HOME Investment Partnership Funds from the Department of Housing and Urban Development, as well as a loan from LISC Strategic Investments' Dallas Housing Opportunity Fund. Other partners include Hudson Housing Capital, Citibank, Legacy Bank and the Texas State Affordable Housing Corp.
THIS AND THAT
Mohr Capital founder and Chairman Bob Mohr has been named to the D CEO Dallas 500 list for the third consecutive year. The annual publication profiles the most influential business, civic and nonprofit leaders in North Texas. D CEO editors collect hundreds of interviews and perform months of research to compile the list.
Scott Morse, managing partner of Dallas-based corporate tenant and asset services real estate advisory firm Citadel Partners, was elected president of the DFW North Texas Chapter of the Society of Industrial and Office Realtors for 2022-2023. Morse previously served as SIOR program chair and historian. He has been an active member since 2014. Morse takes the helm from Lee & Associates DFW Office principal Nathan Denton.
McCarthy Building Cos. formed a civil business unit for the company’s Southern region. Jeromy Shaw, senior vice president of operations, leads the unit, which is focused on clients in transportation, rail, aviation, renewables, water and commercial markets. Shaw joined McCarthy in 2012 and has more than 20 years of experience in the industry.