This Week's Dallas-Fort Worth Deal Sheet
A 204K SF creative office and technology hub is headed for Plano.
The four-building campus, known as Elevar, is being developed by Alvarez & Marsal Capital Real Estate to accommodate corporate, media, entertainment, technology, and research and development tenants, according to a news release.
“As our first entry into the Dallas market, A&M CapRE is excited to deliver to Plano a highly differentiated project specifically designed to promote a happy and healthy work environment that over-delivers on the needs of today’s tenants,” CEO and co-founder Hugh Hilton said in a statement.
The campus, located at 5228-5240 Tennyson Parkway, is slated to deliver in the third quarter. Clint Madison, Zach Bean and Carrie Halbrooks of Cushman & Wakefield will lead leasing efforts.
LanCarte Commercial Real Estate marked its expansion into the Dallas market with two key hires. Bill de la Chapelle brings more than 30 years of industry experience to his new role as partner, where he will lead LanCarte's new Dallas office. The company has also hired Sharon Cramer as vice president. Expanding into Dallas kicks off the Fort Worth-based firm's plan to launch in more Texas markets over the next 10 years.
Trademark Property Co. added Nancy San Pedro as senior vice president of asset management. She will develop and lead Trademark’s asset managers and analysts, who act as in-house owner’s representation for Trademark’s portfolio. Prior to Trademark, San Pedro was senior director for asset management at ShopCore’s West region.
Holland & Knight added Arthur Lotz as a partner in the Dallas office. Lotz's practice focuses on syndicated loan transactions, asset-based and reserve-based lending, and acquisition and leveraged finance for private equity firms, corporate borrowers and financial institutions. Prior to joining Holland & Knight, he was a partner at Kirkland & Ellis.
Texas Capital Bank promoted Dustin Cosper to head of commercial real estate. He will be responsible for driving the execution of the bank’s real estate strategy while working with other lines of business to provide full-service solutions to clients. He previously served as senior vice president and group manager in the bank’s CRE organization.
Partners hired Hanes Chatham Jr. as partner in the firm’s Dallas office. He comes to Partners from Stream Realty Partners.
Merriman Anderson Architects promoted Fred Martinez to associate principal. It also promoted Will Cotton, Chance Jones and Robert Nieporte to senior associate.
Edge Realty Partners hired William Rosatti to serve as vice president of the Dallas office, where he will focus on project leasing and tenant representation. Prior to joining Edge, Rosatti served as vice president at JAH Realty.
Corgan expanded its lease at The Luminary by 17K SF to a total footprint of 98K SF. Harwood International acquired the building in July 2021, at which point it was 67% occupied. The Corgan lease brings the property, located at 401 North Houston St. in Dallas, to 100% leased. The lease expansion was completed by Greg Biggs and Randy Cooper with Stream Realty Partners and Harwood International’s Kelly Whaley and Hannah Mesh.
Dallas Center for Dermatology and Aesthetics doubled its space to 11.5K SF in Preston Sherry Plaza, located at 8201 Preston Road in Dallas. Eliza Solender with Solender/Hall represented the tenant. Jeff Eckert, James Esquivel and Haley Hullett with JLL represented the landlord, BC Exchange Preston Center Master Tenant LLC.
Real estate investment firm Sason acquired 104 and 106 Decker Court, a 98K SF office complex in Irving. The buildings and surrounding property have been rebranded as Cascade and Cascade II, and a $2.5M renovation is slated to begin early this year. Stream Realty Partners Vice President Chase Lopez and associate Patrick Cruz will provide leasing services for the assets.
Marcus & Millichap arranged the sale of a 236K SF, eight-property self-storage portfolio, located throughout East Texas and DFW. Brandon Karr, an investment specialist in Marcus & Millichap’s Fort Worth office, and leader of the Karr-Cunningham Storage Team, represented the sellers, a group of private investors located in East Texas. The buyer, a regional storage operator with facilities in Texas, Louisiana, California and Florida was also secured by Karr.
SPI Advisory acquired Park Place Apartments, a 120-unit, Class-B multifamily community at 621 Arcadia St. in Hurst. The company plans to invest in significant renovations.
SkyWalker Property Partners sold a trio of office properties in North Texas and Oklahoma on behalf of three managed funds.
The largest divestiture was of Brookhollow Riverside, a 119K SF office building at 2505 North Highway 360 in Grand Prairie. The disposition also included Crescent Parc, a 61-unit medical and office condominium project at 1400 North Coit Road in McKinney.
Tom Strohbehn and Scott Farber of Younger Partners marketed Brookhollow Riverside for the seller, Down By The Riverside. The buyer was 2505 North State Hwy LLC, whose principal is Howard Heald of Silver Creek Realty Advisors LLC. Joe Martinez and Tonya La Barbera of Legacy Commercial Realty represented the Crescent Parc Phase 1 seller of record, McKinney Sunrise LLC.
CONSTRUCTION AND DEVELOPMENT
Holt Lunsford Commercial broke ground on a Class-AA industrial development, DFW Walnut Hill, located just south of the Dallas-Fort Worth International Airport. The 146K SF development will be leased by HLC’s Andrew Gilbert and Canon Shoults.
Realty Capital Residential and Merriman Anderson Architects broke ground on Thirty-One 11 Sunset at 3111 Sunset Blvd. in Flower Mound. The 16-story, 207-unit luxury apartment tower is part of the new Lakeside Village resort community.
THIS AND THAT
Project REAP, the real estate associate program, is accepting applications for its Spring 2023 Academy until Jan. 31. The REAP Academy is designed to further the careers of diverse professionals looking to enter the field of commercial real estate, though prior real estate experience is not required.
Candidates who live in or within commuting distance of REAP’s eight metro markets — Atlanta, New York City, Washington, D.C., Chicago, Cleveland, Columbus, Los Angeles and Dallas — may apply for the 10-week hybrid track, which includes three weeks in person. Candidates outside of a commuting radius may apply for a seven-week virtual track.
The academy begins April 10 and concludes June 12. The location of the on-site portion in Dallas is to be announced.