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This Week's Dallas-Fort Worth Deal Sheet

North Texans will soon have several more fast food options and an oil change service station thanks to Venture Commercial. Venture has leased and sold five pad sites in DFW. 

Take 5 Oil Change signed a ground lease on a .5-acre pad site located at 7817 Forest Lane near Medical City Hospital in Dallas. Clay represented the tenant in lease negotiations, while the landlord Alderi. was self-represented.

The deals:

  • Fast-casual restaurant chain Slim Chickens acquired a 1.25-acre pad site at 9005 North Tarrant Pkwy in North Richland Hills.
  • Waffle House acquired a .6-acre pad site in the Westover Village shopping center in Fort Worth.
  • Taco Bell America signed a ground lease on a one-acre pad site to build at the northwest quadrant of Plano Parkway and Tittle Road in Lewisville. Venture’s Clay Mote repped Billingsley, and Kyle Gill with Faithbridge Realty repped the tenant.
  • Firebrand Properties will build a Burger King and a Popeye’s Louisiana Kitchen at the northeast corner of South Interstate 45 and Wintergreen Road in Hutchins. Clay also repped the seller at the 1.5-acre pad site. John T. Evans Co's Tom Paredes repped the buyer.
  • Take 5 Oil Change (above) signed a ground lease on a .5-acre pad site at 7817 Forest Lane near Medical City Hospital in Dallas. Clay repped the tenant, while the landlord, Alderi, repped itself.

EXECS

Chandra Dhandapani was named CBRE’s chief digital and technology officer. Chandra was previously a tech exec at Capital One and will join CBRE in mid-July.

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Alan Hargrove joined Hart Commercial as SVP. Alan will focus on commercial investment sales and loan brokerage opportunities. Alan previously served as managing director at Annandale Real Estate.

SALES

The Kislak Organization acquired McKinney Uptown in Dallas. The 144-unit midrise apartment complex is located at 3324 McKinney Avenue in West Village. Team Mozer with George Smith Partners arranged the acquisition financing provided by Los Angeles-based Mesa West Capital.

The Kislak Organization acquired McKinney Uptown (above) in Dallas. The 144-unit mid-rise apartment complex is at 3324 McKinney Ave in West Village. Team Mozer with George Smith Partners arranged the acquisition financing provided by Los Angeles-based Mesa West Capital.

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SVN's Jon Krebbs arranged the sale of the Treehouse Apartments, a 160-unit garden-style community at 3203 West Walnut Hill Lane in Irving.

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Henry S. Miller brokered the sale of the 14k SF College Park Professional medical office building in Richardson. Henry S. Miller’s Rebecca Harrell repped the seller, Pinnacle Bank, and Darrell Hurmis repped the undisclosed purchaser.

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StoneDome Real Estate sold four acres to The Redeemed Christian Church of God, Jesus House Dallas at 2020 Valley View Lane in Farmers Branch. Mercer Co’s Adam Curran repped the buyer. Lee & Associates’ Nathan Denton repped the seller. 

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Realty Income Corp purchased the CarMax-Dallas at 4448 West Plano Pkwy in Plano and CarMax-Houston as a package. JLL and Matthews Retail Advisors repped seller Thompson National Properties.

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KKSRLM Properties purchased 33k SF on the corner of Josey Lane and Windhaven Parkway in The Colony to build an Honest-1 Auto Care. Bright Realty’s Timothy McNutt, Britton Lankford and Mason Bakken repped the seller, SEC JWH. Mercer Co’s Corby Hodgkiss repped the buyer.

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DHCG Hughston House purchased an 87k SF building at 1700 Alma Drive in Plano. NAI Robert Lynn's Kent Smith and Joe Cicardo repped the buyer, and Marcus & Millichap repped the seller.

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Rowan Properties repped both parties in the sale of the 208-unit Bachman Oaks apartments in the Bachman Lake area of Dallas. The seller was 2501 Bachman Oaks Partners and the buyer was Bachman Oaks 2016.

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Foundry Commercial acquired Campbell Creek Office Park, a 317k SF, 5-building office park in Richardson.

Foundry Commercial acquired Campbell Creek Office Park (above), a 317k SF, five-building office park in Richardson.

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J&H Texas bought a 28k SF warehouse at 1380 North Cockrell Hill in Dallas. Lee & Associates’ Robert Miller repped the seller, QC40 Development. Colliers’ Todd Lambeth repped the buyer. 

LEASES

Stream will lease and manage a 185k SF office tower at 5950 Berkshire Lane in Dallas’ Preston Center submarket called The Berkshire. Stream's Ryan Evanich and Scott Sowanick will exclusively lease the Class-A building on behalf its owner, Heitman.

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MGA Healthcare Texas leased 9k SF of office space at 15601 Dallas Pkwy in Addison. Landlord Franklin Street Properties was repped by Cushman & Wakefield’s Chris Taylor and Trey Smith. CBRE’s Chris Sido and Peery Wood repped the tenant.

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Renhack Marketing Services leased 23k SF of office space from Prologis Targeted US Logistics Fund at 752 Port America Place in Grapevine. Cushman & Wakefield’s Matt Heidelbaugh and Gary Collett repped the tenant.

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MC2 pre-leased 35k SF of office/warehouse in EastGroup Properties' new Creekview-121 development at 301 Leora Lane in Lewisville. Rick Medinis of NAI Robert Lynn and Robert McCollum repped the tenant. Stream's Blake Kendrick and Eric Crutchfield repped the landlord.

DEVELOPMENT

Alliance Architects completed of the new 760k SF build-to-suit office/distribution facility for a leading national beauty retailer. Located on a 94-acre site in Mountain Creek Business Park, the distribution center is part of over 6M SF of industrial space designed by Alliance Architects within Mountain Creek Business Park.

The new 760k SF build-to-suit office/distribution facility (above) in Mountain Creek Business Park is done. The property is on a 94-acre site and was built for a leading national beauty retailer. The distribution center is part of over 6M SF of industrial space designed by Alliance Architects within Mountain Creek Business Park.

FINANCING

Greysteel’s Anton Mattli and John Marshall Doss refinanced the 180-unit Homes of Persimmon on behalf of KRR Construction. The 35-year non-recourse loan, provided by a national agency lender, features a fixed-rate of 3.83%, an 80% LTV, and is self-liquidating.

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Metropolitan Capital Advisors arranged a $15M non-recourse construction loan funded by a regional bank for a dual-branded SpringHill Suites by Marriott and Home2 Suites by Hilton in McKinney. 

Related Topics: Deal Sheet, The Deal Sheet