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This Week's Dallas-Fort Worth Deal Sheet

Stream Realty Partners has been on a massive investment sales kick. In the last few months, it's sold over 2M SF.

An affiliate of Hudson Advisors sold the McKinney Green Building, a Class-A, LEED Platinum office building in McKinney, Texas, totaling approximately 56,000 square feet to a family office partnership. Stream’s Jamie Jennings, James Mantzuranis and Caitlin Clinton represented the seller in the transaction.

The DFW-area deals include:

  • An affiliate of Hudson Advisors sold the McKinney Green Building (above), a 56k SF Class-A, LEED Platinum office building in McKinney, to a family office partnership. Stream’s Jamie Jennings, James Mantzuranis and Caitlin Clinton repped the seller.
  • A single-tenant, 119k SF industrial building at 8220 Ambassador Row was sold to Brennan Investment Group. Stream’s Jamie Jennings, James Mantzuranis, Caitlin Clinton and Jason Moser repped the landlord.
  • Two land sites totaling 30 acres near Dallas Love Field, which both contain long-term ground leases, were sold to a privately held entity. Jamie, James, Caitlin and Jason repped the seller.
  • 1920 Elm St, a seven-story parking garage in Downtown Dallas, was acquired from a private partnership. Jamie repped Kirtland Realty Group.
  • The 39k SF flex industrial property of 310-320 Regal Point Row sold to a private partnership in Fort Worth. Jamie, James, Caitlin and Jason repped the seller.
  • A 0.65-acre tract at 4401-4407 West Lovers Lane near Love Field sold to a private partnership that plans to construct an office building. Stream’s Jamie and Mark Hayes repped the seller.
  • An affiliate of First Industrial sold a 100k SF industrial property at 3030 Hansboro Ave in Dallas to an out-of-state partnership repped by JLH Real Estate Services’ Jonathan Hess. Jamie, James and Caitlin repped the seller.
  • An affiliate of First Industrial sold the five-building Merritt Drive Industrial Portfolio totaling 115k SF in Garland. The portfolio sold to California-based WLA Investments. Jamie, James and Caitlin repped the seller.
  • Stream’s Jason, Jamie and Hanes Chatham brokered the sale of 1326, 1328, 1333, 1347 and 1348 Motor Circle in Dallas. The project consists of 90k SF of industrial and office space containing 19 condo units for sale or lease. Stream repped the seller, including various owners of commercial condominium units.

SALES

Marcus & Millichap sold Burgundy Tower, a 62k SF office property in Euless. Cody Payne repped the seller, a fund manager, and secured an LLC buyer. 

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Weitzman Group negotiated the sale of Elm Ridge Crossing, a 13k SF retail center at the corner of Main Street and FM 423 in Frisco, for an undisclosed price. Weitzman’s Eddie Liebman and Matt Rosenfeld repped the seller, an investment partnership, in cooperation with Engvest Commercial Realty’s Calvin Wong, who repped the out-of-state purchaser.

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Macavity Co completed land acquisition for the 860-acre Whitewing Trails community in Princeton. Henry S. Miller's Chris Burrow repped both parties.

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Colliers’ Creighton Stark and Chris Boyd sold The Landmark, a 159k SF office property in the Quorum micro market in Addison, on behalf of TriGate Capital. The buyers, Libitzky Property Co and Sunwest Real Estate Group, repped themselves.

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JPI sold Jefferson Las Colinas, a new 386-unit multifamily community in Las Colinas. Apartment Realty Advisors, a Newmark company, assisted in the sale which was developed and built by JPI in 2015.

JPI sold Jefferson Las Colinas (above), a new 386-unit multifamily community. Apartment Realty Advisors, a Newmark company, assisted in selling the property, which was developed by JPI in 2015

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Vitorino Group sold the 100% occupied Spring Valley Retail Strip in Dallas. The buyer, a local investor, was at the top of the pricing pyramid, pre-qualified and deemed most likely to close. The seller, a foreign investor, had a CMBS loan coming due without recapitalization options, and thus needed to close in a timely fashion.

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NAI repped GEICO in the disposition of its 240k SF former regional headquarters at 4201 Spring Valley Road in Farmers Branch. NAI’s Tom Lynn, Nick Lee and Griff Bandy repped GEICO. NAI’s Kent Smith repped the buyer, JP Partners.

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999 Investments bought 21k SF at 609 112th St in Arlington. U-nique Realty repped the buyer. Mercer’s Corby Hodgkiss repped the seller, MD Graham Properties.

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Hangover Opportunity Fund has sold the 110,651-sf Bowen Chase Bank Building to a local investment group, turning over the deed as occupancy edges toward 100% in the repositioned and upgraded property.

Hangover Opportunity Fund sold the 111k SF Bowen Chase Bank Building on four acres at 1301 South Bowen Road in Arlington to Duncan Holdings. Creighton Stark of Colliers International and Gary Walker of Coldwell Banker repped the seller. Matt Carthey of Holt Lunsford Commercial repped the buyer.

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Marcus & Millichap sold Lakefront Villas, a 105-unit apartment property in Richardson. Marcus & Millichap’s Al Silva and Ford Braly marketed the private Dallas-based seller and secured a local partnership as buyer.

LEASES

ML Realty Partners signed two leases totaling 183k SF just north of DFW International Airport within the firm’s 13-building Park West portfolio in Coppell. ZS Pharma leased 98k SF at 508 Wrangler Drive. HCA Health Services leased 85k SF within 631 Southwestern Boulevard. Brian Bachrach with Lincoln Harris CSG repped HCA.

ML Realty Partners signed two leases totaling 183k SF just north of DFW International Airport within the firm’s 13-building Park West portfolio in Coppell. ZS Pharma leased 98k SF at 508 Wrangler Drive. HCA Health Services leased 85k SF at 631 Southwestern Blvd. Lincoln Harris CSG's Brian Bachrach repped HCA.

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Water Tech leased 10k SF at 800 Freeport Pkwy in Coppell. Mercer’s Adam Curran repped the tenant. CAM 700 Freeport is the landlord.

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Seagate Freight leased 48k SF at 701 Hanover in Grapevine. Mercer’s Brent Landfried repped the tenant. Prologis Targeted US Logistics Fund is the landlord.

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Tricorp USA leased 10k SF at 601 Hanover in Grapevine. Mercer’s Turner Peterson repped the landlord, Prologis, and the tenant. 

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Elite Fulfillment Solutions renewed 23k SF at 5200 East Grand Ave in Dallas. Younger Partners’ Carter Crow and Trae Anderson repped the tenant. Holt Lunsford Commercial’s Canon Shoults repped the landlord. 

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Parrish-Hare Electrical leased 18k SF at 1243 Majesty in Dallas. Mercer’s Jeremy Mercer repped the tenant. Bo Price Real Estate’ Bo Price repped the landlord, DDB Properties.

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Zimmer US leased 16k SF of office space from Red Tail Acquisitions at 2855 Trinity Square Drive in Carrollton. Cushman & Wakefield’s Emily Hoffman repped Zimmer US. Holt Lunsford’s Andrew Gilbert repped the landlord.

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JLL negotiated a new 20k SF lease with Studio Movie Grill. The Dallas-based company will be relocating to Hidden Grove at 12404 Park Central in Dallas. JLL’s Jeff Eckert, James Esquivel and Ahnie Gampper negotiated repped the landlord, Red River Asset Management. Jackson & Cooksey’s John Beach repped the tenant.

JLL negotiated a new 20k SF lease with Studio Movie Grill. The Dallas-based company will relocate to Hidden Grove at 12404 Park Central in Dallas. JLL’s Jeff Eckert, James Esquivel and Ahnie Gampper repped the landlord, Red River Asset Management. Jackson & Cooksey’s John Beach repped the tenant.

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JLL will lease Chapel Crossing by Brown Company Partners. Slated for Q2 2017 delivery, the 55k SF Class-A medical office property will be at the southwest corner of SH-114 and White Chapel Boulevard in Southlake. JLL’s Ryan Dale led the pursuit.

DEVELOPMENT

Adolfson & Peterson Construction will build Ranchview Surgical Hospital in Denton. Developed by Castle Development and designed by Mike Hale Architects, this project includes a 45k SF single-story, ground-up Ambulatory Surgical Center. Construction will commence this month with final completion scheduled for August 2017.

FINANCING

MCA arranged a land acquisition loan for a 10-acre tract in Frisco at the northeast corner of Legacy Drive and Eldorado Parkway. MCA’s Todd McNeill closed the $5.5M loan with a regional bank that provided a two-year loan term with interest-only payments while the developer plans to sell off pad sites and considers further development.

THIS AND THAT

KOA Partners celebrated its first year of business. In the last year, KOA has facilitated more than $230M in transactions and engaged in another $220M of investments. 

Related Topics: Deal Sheet, The Deal Sheet