This Week's Dallas-Fort Worth Deal Sheet
TABC leased the remainder of its floor in Arlington Downs Tower to expand to 15k SF in the Region 2 office. This deal and a couple of others will push building occupancy above 90%.
TABC signed a seven-year renewal and expansion, adding more than 1k SF of office space. Bradford’s Erik Blais and Richmond Collinsworth repped the landlord, J&F Investments GP.
Other new and renewal deals include 3k SF for Main Street Renewal, 600 SF for Patient Care Intervention Center, 2k SF for The Parks Group, 1k SF for Care Review, 1k SF for Well Group Products and 600 SF for Harish Dand. The Class-B office building (above) has 31 tenants, with leases running on average below the 3k SF mark.
EXECS
Marsha Krueger joined Holt Lunsford Commercial as SVP of management services in its Fort Worth office. Her responsibilities include oversight of day-to-day management operations for the Fort Worth/Las Colinas team.
***
JLL welcomed Tom Salanty as a managing director. Tom will bolster the firm’s retail practice throughout North Texas, partnering closely with managing directors Adam Howells, Randy Fleisher and Tim Jordan to provide JLL’s investor clients with a full suite of capital markets services. He will also align closely with Clay Smith, who leads the firm’s retail brokerage practice in Dallas.
***
Jonathan Kelly was appointed to the DART Board of Directors to represent the City of Garland. Jonathan, a senior portfolio manager with more than 20 years of experience in the financial services industry, is a VP at Northern Trust Co.
***
MYCON General Contractors appointed healthcare and hospitality construction veteran Jacob Riney as VP. Jacob will be responsible for the leadership and management of the firm’s healthcare, senior living and hospitality construction projects, including preconstruction services.
LEASES
Quine & Associates leased 23k SF at the Irving Shopping Center (above). Derek Jarrell brokered the deal with Supermercado Amigos.
***
Modoma Health Systems leased 11k SF of office space from CH Realty VI/MF at Galleria Parkway, Suite 120, in Farmers Branch. Cushman & Wakefield’s Preston Knowlton and Chris Hillman repped the tenant.
***
JLL inked 30k SF worth of new and renewal leases with CDK Realty Advisors, Republic Editorial, The Gough Group and Navigator Energy Services at 2626 Cole in Uptown Dallas.
***
A new Texas Rug Gallery is coming to Southlake. The 6k SF retail space will be at Cornerstone Plaza on East Southlake Boulevard and Nolan Road. Bright Realty's Mason Bakken and Britton Lankford repped the landlord, BTR-8 Southlake.
***
Fairway Investments awarded leasing of The Summit at Preston Trails to Stream. The 142k SF office complex at 17101-17103 Preston Road and 17210 Campbell Road in Dallas is a three-building property. Stream’s Chase Lopez and Jordan McFarland will handle the assignment.
***
All Star Ninjas leased 8k SF of retail space in Millennium Center at 2000 Matlock Road in Mansfield. Cindy Dao of Coldwell Banker Commercial Advisors DFW repped the landlord, Carriere Holdings.
SALES
Hartman Income REIT Management sold its Park Central office building to Watermark Community Church. The 128k SF building was sold for a significant gain over the purchase price.
***
The Vitorino Group sold an Empire Petroleum gas station/convenience store in Grapevine. The single-tenant net-leased asset is on State Highway 121 just north of the airport. The Vitorino Group acted as an intermediary between a local Dallas owner and a private, Dallas-based REIT. Terms of the sale were not disclosed.
FINANCING
The CMBS assumption team at Hart Advisors Group closed on a loan portfolio of $263M, which cleared the way for a $2B merger between Harrison Street Real Estate Capital and Campus Crest Communities. Hart managing director Richard Lee led the team in obtaining the merger consents.
DEVELOPMENT
CHC Development launched Murphy Professional Centre (MPC), a new 11k SF medical and professional office building just southeast of the intersection of FM 544 and Brand Road in Murphy. The building with an iconic tower, storefront windows and ample parking was designed by Urban Bobcat Architects.
