This Week's Dallas-Fort Worth Deal Sheet

Pennsylvania-based EQT Exeter has purchased a 904.5K SF warehouse in Forney.

Delivered in January, the Class-A facility was developed by Stillwater Capital and is fully occupied by trucking company Knight Swift. It is located at 11333 County Road 212 near recently completed developments for Goodyear, Amazon and Ashley Furniture.

“Forney Logistics Crossing offered investors an ideal combination of new construction, building functionality and short-term weighted average lease terms,” Newmark Vice Chairman Dustin Volz said in a news release. “Pair that with a nationally recognized tenant that continues expanding into the East Dallas submarket, this opportunity was extraordinarily well received by those looking to acquire a best-in-class asset with significant scale in DFW.”

Volz, Newmark Vice Chairman Stephen Bailey, Senior Managing Director Dom Espinosa, Managing Director Zach Riebe, associates Taylor Hare and Chloie Mercer, and transaction manager Caroline Wilson represented the sellers, Stillwater Capital and Grandview Partners. 

PEOPLE

Amber Pickett Wernick joined the Dallas studio of Perkins&Will as director of practice development. Wernick, a Dallas native who worked for the firm between 2008 and 2015, will oversee all phases of interior design projects.

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Langdon Morrison was named vice president of capital markets for Dallas-based Revere Capital, where he will manage and expand relationships along the East and Southeast coasts. Morrison was most recently associate vice president for Gladstone Cos. where he was responsible for the sale and distribution of alternative investments to clients in the Northeast and Midwest.

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CP Group tapped Tommy Spinosa as a senior vice president to lead the firm’s acquisition and asset management efforts in Dallas. Spinosa is relocating to Dallas from Washington, D.C., where he opened a regional office for CP Group after his hire in 2021. He will continue to oversee the D.C. metro while extending his purview to grow CP Group’s investments in the West. 

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Derek Anthony joined Partners Real Estate as a senior vice president of retail services in its Dallas office. Prior to joining Partners, Anthony served as senior vice president and managing director of brokerage at The Woodmont Co.

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Charlie Fenton rejoined the Dallas office of JPMorgan Chase as senior commercial banker in the Community Development Banking Group. Most recently, Fenton was a senior vice president at Hancock Whitney, where he was responsible for the management and expansion of middle-market relationships. He returns to the firm after a prior nine-year tenure at JPMorgan Chase in various banking roles, including with the JPMorgan Private Bank.

LEASES

The Academy of Visual and Performing Arts leased a 41K SF space in La Gran Plaza at 4200 South Freeway in Fort Worth. Savills Senior Managing Director Lesa Nickelson French, along with Jerry Bolz and Sally Turner of Worth Commercial Real Estate, represented the AVPA. The public charter school, which serves students in sixth through 12th grades, will remain at this location until a permanent facility is announced later this year.

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Chubby Gorilla leased 55K SF of industrial space in Champions Circle Business Park at 15860 Championship Parkway in Fort Worth. Reid Bassinger and Nathan Denton of Lee & Associates DFW represented the landlord, Hopewell Development. Sam Pruitt and Luke Harp of Site Selection Group represented the tenant.

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Repairify Inc. has leased 13K SF of flex space in Las Colinas Distribution Center 5, 3241 Story Road in Irving, from Las Colinas AAA Investments. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, represented the landlord. Chris Shilling of Minerva Realty Group represented the tenant.

SALES

Arapaho Gardens acquired a 11.7K SF office building at 1177 Rockingham Drive in Richardson. The building is part of a 49.6K SF office campus that Arapaho has owned since 2010. Seller LYZ Holdings is disposing of its Dallas-area commercial properties and recently vacated the building. Eric Goodwin of Champions DFW Commercial Realty represented the seller.

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LanCarte Commercial finalized the sale of a 143.6K SF industrial building at 2708 Northeast Main St. in Ennis. Sarah LanCarte, Parker LanCarte and Jenny Carlstrom of LanCarte Commercial represented the seller. Justin Rubel of Converd Commercial represented the out-of-state buyer.

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Cottonwood Group and Texsun Holdings acquired Taylor Commons, a 224-unit multifamily property at 5600 Cotswold Hills Drive in Fort Worth. The 172K SF property will undergo a comprehensive renovation under its new owners.

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Brazos Residential acquired The Thread Apartments in Dallas. The 606-unit garden-style community consists of three phases built between 1969 and 1978. The sale was brokered by Taylor Snoddy, and the financing was arranged by Kevin Leamy, both from Northmarq's Dallas office.

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Marcus & Millichap sold the 26K SF Sycamore Village Shopping Center at 3515 Sycamore School Road in Fort Worth. Joe Santelli, first vice president of investments in the firm’s Dallas office, had the exclusive listing to market the property on behalf of the seller.

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SPI Advisory and its 1031 exchange partners finalized the acquisition of Ivy Urban Living, a 228-unit, Class-B apartment community in Uptown Dallas. The Ivy is SPI’s 15th property under management in DFW, bringing its holdings to nearly 3,400 units.

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Roof Experts purchased a 17K SF flex industrial property at 601 North First St. in Garland. Partners’ Jeff McVaney represented the buyer, and the seller was represented by Chas Lester with TIG.

CONSTRUCTION AND DEVELOPMENT

Huffines Communities opened Heritage Towers, a 282-unit luxury apartment community at 1600 North Summit Ave. in Lewisville. The project comprises three four-story buildings.

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HiFAB opened a modular home factory at 1771 Robinson Road in Grand Prairie. The company offers modular homes in two sizes with three floor plans. 

FINANCING

MDH Partners received a $59.5M loan from Capital One to acquire Fort Worth Logistics Hub, a 671K SF property in Fort Worth. The financing also supported the purchase of Desoto Logistics Center near Memphis, Tennessee. Both assets were purchased earlier this year from VanTrust and Core5. Chris Drew and Maxx Carney of JLL represented MDH Partners. Mary Lucy Lester and Courtney Murchison of Capital One originated the loan for the firm.

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The Dallas-based office of Trez Capital closed a $17M loan for Centurion American for the first phase of Cottonwood, a 100-acre, master-planned community coming to Dorchester. Upon completion, Cottonwood will have approximately 2,000 lots for multifamily, commercial, build-to-rent and more. The first 360 lots are expected to be completed in 2025.