This Week's Dallas-Fort Worth Deal Sheet
Venture Commercial Real Estate completed two transactions involving single-tenant net-leased properties in North Texas (and two in Austin). Venture’s John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller brokered the properties, which include a Raising Cane’s Chicken Fingers and a Taco Bell in Frisco.
Venture repped a local development partnership in the sale of a 4k SF Raising Cane’s Chicken Fingers restaurant at 6311 Custer Road in Frisco. The buyer was a private investor repped by Larry Golman with Golman & Associates. Zikos repped the seller of a 3k SF Taco Bell at 6929 South Preston Road in Frisco. Cooper, Gibbons and Miller repped the buyer, GRS Lone Star Properties.
Debi Carter joined Capstone Commercial Health Services as partner. Debi has specialized in the development, leasing and sales of medical and dental offices for the past 15 years, repping tenants, landlords, buyers and sellers.
Henry S. Miller's Dan Spika brokered the sale of two properties in Lewisville. Allegheny Land Co purchased 11 acres at 830 Valley Ridge Blvd and will develop a residential project. Robert Maxey repped the buyer. Dan repped the seller, Lewisville 121 Association. Dan also recently closed on 553 Bennet Lane in Lewisville. High Bidder purchased the property, which houses an 8k SF warehouse. Mark V Commercial's Mike McCartan and Jeff White repped the seller, while Spika repped the buyer.
TCRG Properties sold four sizable properties:
- 448k SF of industrial space at 7301 Trinity Blvd in Fort Worth. CBRE’s David Sours repped the sellers. Ryan Wood repped TCRG in-house.
- 353k SF of industrial space at 301 East Risinger in Fort Worth.
- 150k SF at 1301 South Forum Way in Fort Worth. Todd Hubbard with NAI Robert Lynn repped the seller, and Ryan Wood repped TCRG in-house.
- 125k SF of medical space at 7100 Oakmont Blvd in Fort Worth. CBRE’s Bob Scully and Nanci Johnson Plump repped the sellers. Ryan Wood repped TCRG in-house.
TST Impreso purchased a 103k SF building on Lakeside Parkway in Grapevine. NAI Robert Lynn's Tyson Erwin repped the buyer.
Dirkin Properties First purchased a 47k SF building at 10503 Forest Lane in Dallas. NAI Robert Lynn's Stephen Cooper repped the seller, and DRB TX's Dave Rouble repped the buyer.
European Designs Dallas purchased 9k SF at 9008 Governors Row in Dallas. Mercer’s Jeremy Mercer repped the seller, Diversified Capitol Group.
DCT Industrial Trust acquired 27 acres in Dallas in two separate transactions. In May, the company purchased 18 acres in the Northeast submarket for the development of DCT Miller Road, a 270k SF, Class-A, multi-tenant facility. In July, DCT acquired 10 acres in the DFW Airport submarket for the development of DCT DFW Trade Center, a 112k SF, Class-A, multi-tenant facility.
SVN arranged the sale of Fielder Crossing in Arlington, a 132-unit condo project built in 1981. Todd Franks and Jon Krebbs marketed the property for the seller and procured the buyer, an out-of-state private investor.
An undisclosed buyer purchased the 18k SF industrial building at 418 East Grand Prairie Road in Grand Prairie. Troy Morgan of Structure Commercial negotiated the sale.
Whataburger ground-leased a 46k SF pad site in North Tarant Marketplace at 116 North Tarant Pkwy. NewQuest's David Meyers repped the landlord, and Edge Realty's David Copeland repped the tenant.
Los Cazadores Holdings purchased one acre at 2501 West Bardin Road in Grand Prairie. Capstone Commercial's Scott Jackson repped the purchaser with Grant Huff of Transwestern.
Dollar General leased 8k SF at 2515 Rosemeade Pkwy in Carrollton. Structure Commercial's Eric Deuillet negotiated.
Design Source International leased 10k SF at 2154 Chenault Drive in Carrollton. Mercer’s Landon Broach repped the landlord, Earhart Chenault.
Amazing Siding & Windows leased 8k SF at 2720 Royal Lane in Dallas. Mercer’s Turner Peterson repped the landlord, Royal Park 30.
ProComputing Corp leased 20k SF of industrial space at 1160 Mustang Drive in Grapevine. Stream's Todd Noonan repped the tenant, and CBRE’s Steve Koldyke and Kacy Jones repped the landlord, Bandera Ventures.
Aprima Medical Software leased 55k SF as a corporate headquarters at 1010 East Arapaho Road in Richardson. The facility will house 250 Aprima employees, who will relocate from other North Texas facilities, including the company’s current HQ in Carrollton, when it occupies the space in August.
Vision Commercial leased two deals at 2060 West Spring Creek in Plano. In both deals, Vision Commercial repped the landlord, WC Custer Creek Center. Habitat for Humanity of South Collin County will anchor the center with an 18k SF ReStore. Venture Commercial’s David Schnitzer repped the tenant. Abbado Music Store will open in Suite 202, a 1k SF space. JSK Group’s Kiew Kam repped Abbado Music.
Cliff’s Check Cashing Stores leased 9k SF of office space at 4006 Beltline Road in Addison. Kent Smith of NAI Robert Lynn repped the tenant.
Acquire Solutions leased 20k SF of office space from Canal Centre at 400 East Las Colinas Blvd, Suite 500, in Irving. Cushman & Wakefield’s Dan Harris repped the tenant.
Intercontinental Gear & Brake leased 15k SF of industrial/office space from First Industrial Realty Trust at 1322-1326 West North Carrier Pkwy, Suite 1326, in Grand Prairie. Cushman & Wakefield’s Blake Anderson and David Eseke repped the tenant.
Edoko Sushi & Robata opened 4k SF at 1250 State St inside the 186-acre CityLine in Richardson. This will be the second location for the Texas-based sushi and robata restaurant, which also has a Frisco location.
United Development Company of Southlake Texas began redeveloping the former UA Theater Grand Prairie 10, transforming it into a 60k SF retail center including Starbucks, R Taco, Panera, a national grocer and other retailers. United Development acquired the site in March 2015. The first tenant will open for business this fall.
Greysteel arranged agency financing for the acquisition of the 40-unit Green House Apartments in Arlington on behalf of 2405 East Park Row Drive. The 10-year non-recourse Fannie Mae loan, provided by an agency lender, features a fixed rate of 4.45% and an 83% loan-to-cost ratio. This transaction was negotiated by Greysteel’s Anton Mattli and John Marshall Doss.
Pioneer Realty Capital closed a $14M new construction loan for a 130-room Home2 Suites Hotel in Dallas.
THIS AND THAT
Stream assumed property management of several buildings in DFW:
- One Main Place: In the heart of the Main Street district of Dallas’ CBD, One Main is a 33-story office and retail building totaling approximately 1M RSF.
- Lakeside Trade Center: Owned by Clarion Partners, Lakeside Trade Center is comprised of four industrial buildings and 2M SF with nine tenants.
- Pinnacle Tower: A 24-story, 549k SF office building undergoing a substantial capital improvement program.
- 2010 January Lane: 347k SF industrial space.
- 5050 Quorum Drive: Owned by DRA Advisors, the office property spans 134k SF.
- 121 Corporate Center: Stream was selected by Cabot Properties to be the exclusive leasing and management company for the 125k SF office center.
- Klabzuba Fort Worth Portfolio: In the Fort Worth CBD and within Fort Worth’s medical district, this portfolio consists of three buildings totaling approximately 110k SF.
CREW Dallas won Addison Magazine’s Favorite Business Networking Group during its readers’ choice awards last week. Above are KDC’s Tracie Frazier, Entos Design’s Suzanne Brasuell, Dykema Cox Smith’s Teresa Ereon Giltner, Bisnow’s very own Karen Pierre and Hudson Peters Commercial’s Janice Peters. (Hudson Peters also won Best Commercial Real Estate Firm.)