This Week's Dallas-Fort Worth Deal Sheet
A new boutique hotel is coming to the Harwood District in Uptown Dallas.
Hotel Swexan, set to open next summer, is a 22-story modern tower inspired by the multigenerational Swiss-Texan family heritage of the Barbier-Muellers, who founded Harwood International in 1988.
The hotel will include 134 guest rooms and 12K SF of meeting and event space, according to a news release. The seventh floor will house a private social club in addition to Stillwell’s, an open-to-the-public steakhouse.
“The first-of-its-kind destination will introduce a new level of style and distinctive Swiss-inspired luxury to our great city,” said Jessica Young Reid, director of marketing for Harwood International. “We believe the hotel will add a vibrance to the community, which has always been central to our company’s mission. We hope the space will become a best-loved culinary, cultural, and nightlife destination right in the heart of Harwood District.”
The hotel will be designed by Japanese architect Kengo Kuma, and interior design will be executed by Harwood's internal team. Art and design elements on the property will represent various European cities and reflect the founders’ passion for travel, per the release.
Dallas-based Tango hired Ross Leibowitz, a proptech expert with more than 20 years of experience bringing products to the market, as senior director of workplace products. Leibowitz comes to the company from MRI Software, where he served as senior director of product management.
McGuireWoods, a full-service law firm, signed a 33K SF lease at The Link at Uptown, 2601 Olive St., in Dallas. The firm will occupy a portion of the 21st floor and all of the 22nd floor of the Class-AA office building. JLL’s Blake Shipley and Thirty-Four Commercial’s Sarah Kennington and Bryce Jackson represented the landlord, Kaizen Development Partners. Mohr Partners’ Stephen Hemphill, Cory Darden and Steve Macnoll represented the tenant, McGuireWoods.
Henry Schein Inc. renewed 12.5K SF of flex space in Randol Mill Service Center, 2440 East Randol Mill Road in Arlington. Michael W. Spain, executive vice president and managing partner of Bradford Commercial Real Estate Services, represented the tenant. Patrick Reis of Property Advisers Realty represented the landlord, PHP RMSC Venture LP.
Stream Realty Partners executed the following leases:
— BNC Logistics & Services leased 52K SF at 820 Exchange, located at 5030 Anderson Blvd. in Haltom City. Stream’s Bob Hagewood, Forrest Cook and Seth Koschak represented the landlord, CBRE. Transwestern represented the tenant.
— Dynamic Systems leased 65K SF at McKinney Logistics Center, 3601 North McDonald St. Stream’s Adam Jones and James Mantzuranis represented the tenant. Dave Peterson and Stephen Cooper with NAI Robert Lynn represented the landlord, McDonald McKinney.
— Rexel USA leased 27K SF at Frankford Trade Center 15, 2941 Commodore Drive in Carrollton. Stream’s Eric Crutchfield represented the landlord, Prologis. Colliers International represented the tenant.
— IQ Supply Solutions Texas leased 110.7K SF at Trinity Industrial Distribution Park, 1228 Crowley Drive in Carrollton. Stream’s Mac Hall and Sarah Ozanne represented the landlord, Link Logistics. NAI Robert Lynn represented the tenant.
— Arrowhead Stairs & Trim leased 96.6K SF at 13755 Diplomat Drive in Farmers Branch. Stream’s Hall and Ozanne represented the landlord, ML Realty Partners. Rich Young with Rich Young Co. represented the tenant.
Fort Capital acquired a 76K SF industrial portfolio in Arlington. Division Street Industrial comprises seven Class-B, multitenant industrial buildings. The asset is 94% occupied by a diversified tenant base.
LanCarte Commercial brokered the sale of an industrial facility totaling 60K SF on 3 acres of land at 3801 Austin Lane in Fort Worth. This industrial facility is home to Aria Vent Inc., a manufacturing company specializing in air vents. Sarah LanCarte and Daniel Shelley of LanCarte Commercial facilitated the transaction by representing the seller.
Teresa’s House purchased 3.5 acres in McKinney from SE Alma. Demian Salmon with Stream Realty Partners represented the seller. James Craig with Craig International represented the buyer.
P.S. Opportunities sold a 44K SF industrial building at 2535-2555 Irving Blvd. in Dallas to 3L Cos. Hanes Chatham with Stream Realty Partners represented the seller. Diane Williams Co. represented the buyer.
Marcus & Millichap sold the 10 Federal Texas Portfolio for $6.4M. The 585-unit, 68K SF portfolio consists of three properties at 6129 Vega Drive and 920 Oak Grove Road in Fort Worth and 601 South Interstate 35 East Service Road in DeSoto. Stacey Gorman, Eric Jones, Cameron Bradford and Sam Slocum, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of 10 Federal, a limited liability company. The buyer, a private investor, was secured and represented by Brandon Karr and Danny Cunningham, investment specialists in Marcus & Millichap’s Fort Worth office.
Westmount Realty Capital acquired a three-story, 213K SF townhome-style community, The Premier at Prestonwood. The property is located at 14827 Preston Road in Far North Dallas.
The Dallas Housing Finance Corp. closed on the acquisition of The Briscoe, a 322-unit, Class-A multifamily property located at 12639 Coit Road in Dallas. The property was previously operating with full market-rate rents and will now reserve 161 units for residents earning at or below 80% of the area median income. The remaining half of the units will stay at market rates. The DHFC partnered with Opportunity Housing Group to acquire the property.
Alterra IOS Manager, on behalf of its discretionary private equity real estate client, closed on the acquisition of a 14-property portfolio totaling over $86M across eight states. The 14 mission-critical facilities serve as terminals, maintenance shops and transload facilities in key outdoor storage markets, including DFW.
CONSTRUCTION AND DEVELOPMENT
Box Investment Group, a Dallas-based industrial real estate company, launched with the development of two industrial properties, Skyway Logistics Center in Irving and M380 Business Park in Denton. Founded by Todd Marchesani, Box is focused on shallow-bay industrial developments in northern growth submarkets. Skyway Logistics Center is an 84K SF, Class-A industrial property located at 3260 Skyway Circle North in Irving. M380 Business Park consists of four buildings totaling 156K SF located at 1801 North Masch Branch Road in Denton. It will break ground in early 2023.
TA Land Fund, a joint venture between the Dallas-based office of Trez Capital and Charlie Anderson, closed on its second anchor tenant, Bass Pro Shops, for its new development, Mayfield Groves in Grand Prairie. Only three pad sites for restaurant/retail tenants remain in the 50-acre mixed-use development, which includes 530 multifamily units located at State Highway 161 and Forum Drive. Bass Pro Shops will comprise 100K SF.
Phillip Bankhead, senior vice president and senior director of Northmarq’s Dallas debt and equity team, secured a permanent-fixed loan for Carrollton Park Village, a 110K SF retail center located at the southeast corner of Josey Lane and Belt Line Road in Carrollton. Northmarq arranged financing for the borrower, Vista Property Co., through its correspondent relationship with Genworth Financial. The loan is structured on a 15-year term on a 25-year amortization schedule.
THIS AND THAT
Hillwood changed the name of Fort Worth Alliance Airport to Perot Field Fort Worth Alliance Airport. The new name is a nod to H. Ross Perot Sr.’s legacy, his contributions to the city of Fort Worth, and his innovative work in establishing the world’s first industrial airport, which opened 33 years ago. Perot Plaza, a memorial honoring Perot Sr., was also unveiled on the west side of the air traffic control tower.