This Week's Dallas-Fort Worth Deal Sheet

A 263K SF office building in Las Colinas Urban Center has changed hands.

Crestview Tower, a Class-A, 12-story property located along John Carpenter Freeway, underwent major renovations in 2015, according to a news release. It is 78% leased to a diverse base of tenants and is adjacent to the future offices of Wells Fargo and Christus Health.

“In the face of macroeconomic headwinds, this transaction signals the strength of Dallas/Fort Worth’s capital markets and private capital’s continued appetite for high quality real estate in Dallas’ most prominent submarkets,” Newmark Vice Chairman Robert Hill said in a statement.

Hill, along with Newmark Vice Chairmen Chris Murphy and Gary Carr, and Director Chase Tagen, represented the seller, CapRidge Partners, in the transaction. The buyer was not disclosed.

PEOPLE

The Beck Group promoted Matt Leyman to lead the architecture and construction firm’s Dallas office. Leyman succeeds Jeff Forbes, who served in the role since 2013 and will remain at Beck supporting its growth markets. Before his promotion, Leyman was the operations manager of Beck's Fort Worth office.

LEASES

Stream Realty Partners executed the following leases.

• Hayes Co. leased 156K SF at Peachtree Distribution Center in Mesquite. Stream’s Matt Dornak and Ryan Wolcott represented the landlord, Dalfen Industrial. Greg Nelson with Paladin Partners represented the tenant.

• Walgreens Specialty Pharmacy renewed its 61K SF lease at Frisco Commerce Center at 10530 John W. Elliott Drive in Frisco. Stream’s Bob Hagewood represented the landlord, GID Industrial. Conor McCarthy and Caleb McCoy with JLL represented the tenant.

• Encompass Supply Chain Solutions leased 103K SF at Bison Grove Business Park at 701 Spinks Road in Lewisville. Stream’s Bob Hagewood and Jeremy Kelly represented the landlord, CenterPoint Properties Trust. SK Commercial Realty represented the tenant.

• GTS Technology Solutions leased 48K SF at Lone Star Service Center I at 1463-1473 Terre Colony Court in Dallas. Stream’s James Mantzuranis and Ridley Culp represented the landlord, Nicola Wealth. Stream’s Jason Moser represented the tenant.

• Franke Filling renewed its 70K SF lease at 5900 and 6000 Tension Drive in Fort Worth. Stream’s Jeff Rein and Matt Blackburn represented the landlord, Entrada Partners.

• Structure Tone Southwest renewed its 21.7K SF lease at Parkside Tower at 3500 Maple Ave. in Dallas. Stream’s Greg Biggs represented the tenant. Lincoln Property Co. represented the landlord.

• Attigo Health renewed and expanded its lease to 13K SF at The Spectrum at 15301 Spectrum Drive in Addison. Stream’s Chase Lopez, Olivia Barnes and Patrick Cruz represented the landlord, DRA Advisors. 

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LanCarte Commercial finalized a lease at the Vinnedge Building at 2100 North Main St. in the Fort Worth Stockyards. Angel Reyes & Associates, a personal injury law firm, will occupy the space. LanCarte’s Daniel Shelley represented the landlord.

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M2G Ventures leased 23K SF to an undisclosed international aviation group at the firm’s urban industrial redevelopment, Proto Park, located at 3200 Irving Blvd. in Dallas. This latest lease brings the 250K SF-plus warehouse to 90% leased. The tenant was represented by CBRE’s Ryan Buchanan. M2G was represented by Sarah Ozanne and Lena Pierce with Stream Realty Partners. 

SALES

DFW-based developer of industrial cold storage buildings Cold Creek Solutions, in partnership with Invesco Real Estate, developed and sold two new cold storage facilities comprising more than 700K SF in Denton and San Antonio. Cold Creek Solutions broke ground on the first facility in Denton in late summer 2021, followed by the San Antonio facility in early 2022. Terms of the deals were not disclosed.

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Walton Global sold 680 acres of land in Grayson County to Centurion American Development Group for a future community known as Cottonwood. The property is part of a larger, cohesive master plan totaling 1.5K acres that will include residential, commercial and office uses. Centurion American intends to acquire the remaining acreage as the development commences.

A municipal utility district has been established, which allows the development to offer increased amenities and a range of affordable housing. The property is located south of Sherman and in the extraterritorial jurisdiction of the city of Dorchester, which entered into a development agreement with Centurion American. Caleb Lavey and Rex Glendenning with REX Real Estate and Taylor Boyd with Adler Properties acted as brokers for the buyer and seller.