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This Week's Dallas-Fort Worth Deal Sheet

Venture Commercial Real Estate racked up five leases, totaling more than 108k SF of anchor retail space across Texas.

The deals are:

  • Hobby Lobby leased 55k SF of anchor space in Mansfield Marketplace in Mansfield. Venture's John Zikos, along with Edward Bogel and David Davidson Jr., repped the landlord, 42 HL Mansfield. Concordia Equity's Paul Burkhart repped Hobby Lobby.
  • Kirkland’s (above) leased and opened a 12k SF store in the Park Village shopping center in Southlake. Venture's Tim Henson and Amy Pjetrovic repped the landlord, Excel Southlake I. EDGE Realty Partners' Greg Bracchi repped Kirkland’s.
  • Habitat for Humanity of South Collin County leased an 18k SF ReStore, a nonprofit home improvement store and donation center, in the Custer Creek shopping center in Plano. Venture's David Schnitzer repped the tenant, while Vision Commercial's Roger Smeltzer repped the landlord, WC Custer Creek Center.
  • Genuine Parts Co will open a NAPA Auto Parts store after leasing a 15k SF freestanding building at 3021 Alta Mere Drive in Fort Worth. Venture’s Easley Waggoner Jr., along with Michael Dearden, repped the landlord. CBRE's Chris Sacks and Jeff Kittleson repped the tenant.
  • Dollar Tree Stores opened an 8k SF store in the Ovilla Road Plaza shopping center in Red Oak. Venture’s Mike Wilson repped the landlord, Apple Capital. Jim Weir with The Retail Connection repped Dollar Tree.

EXECS

JPI brought Joe Samford on board as SVP. Joe will be responsible for coordinating and collaborating with C-suite level financial leadership and regional team leaders to facilitate the management of JPI’s debt strategies and relationships.

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Westmount Realty Capital named Michael Anderson as senior director of acquisitions. He will play an integral role in identifying new multifamily acquisition opportunities. 

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Stroud Arthur joined EDGE Realty Capital Markets as SVP. Stroud will focus on the sale, purchase and recapitaliztion of single-tenant net-leased properties. 

SALES

Berkadia facilitated the sale and financing for Lakewood Flats Apartments (above), a 435-unit Class A-asset in Lakewood. Michael Ware, William Jarnagin, Taylor Hill, Jay Gunn and Tom Burns completed the sale, while John Koeijmans secured the financing to complete the acquisition for Wisconsin-based MLG Capital in a JV with Invesco Real Estate.

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Colliers’ Susan Gwin Burks, John Bowles and Bruce Butler sold Preston North Financial, a North Dallas office property consisting of 84k SF, and Kings Park, a 51k SF Plano office.

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Paladin Partners finalized the sale of one of the largest industrial buildings in the US, the 1.5M SF former Home Depot Distribution Center, now called North Texas Industrial Center. It was sold on behalf of a JV that included Hackman Capital Partners, Oaktree Capital and Calare Properties.

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MMAR Holdings sold 29k SF to Wood Oak Corp at 321 Southwest 5th St in Grand Prairie. CBRE’s Christopher Deuillet repped the seller.

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Northern repped the buyer, 4D Circle, in the sale of the combined 18k SF at 1502 and 1518 East Lancaster Ave in Fort Worth. The seller was Paulos Properties. MHMR is the tenant in both properties.

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2GR Equity created a JV with Legacy Capital Co and together acquired nine acres, including 177k SF of existing office buildings at 1515-1575 West Mockingbird Lane in Dallas.

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Grander Capital Partners purchased Emerald Plaza (pictured), a 74k SF office building at 14900 Landmark Blvd in Dallas. The purchase of the six-story office building marks Grander Capital’s first purchase in DFW. It retained the Cushman & Wakefield leasing team of Ward Eastman and Rodney Helm

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TIG’s Matt Spellman and Kevin Mackey repped an undisclosed buyer on the purchase of a 100% leased, 80k SF industrial warehouse building at 2641-2651 Santa Anna Ave, Dallas.

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Impress Designs purchased an 88k SF industrial warehouse at 1303 West Beltline Road in Carrollton. Capstone Commercial’s Larry Robbins, Steve Burris, Jeff Strong and Sean Porter negotiated.

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WCII-1 sold 32k SF of office space at Forest Hills, a two-building project at 2001 and 2005 Green Oaks Blvd in Arlington, to RAB Properties. Coldwell Banker’s Joe Hamilton and Theron Bryant repped the seller. Sam Owen of OGH Real Estate repped the buyer.

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Pillar Commercial, in a JV with Artemis Real Estate Partners, acquired the 161k SF Duke Bridges III office building at 7460 Warren Pkwy in Frisco. The JV acquired the property from Investcorp, which was repped by HFF.

LEASES

B. Braun Medical signed an 83k SF industrial renewal at 1601 Wallace Drive in Carrollton (pictured). JLL’s Elizabeth Jones and Tom McCarthy negotiated on behalf of the tenant. CBRE’s Steve Trese and Wilson Brown repped the landlord, Colony Capital. 

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PMRG leased 13k SF at Park Springs Place in Arlington: a 5k SF renewal for United Paramount Tax Group, a 2k SF renewal for Lunsford & Associates, a 3k SF lease for Southern Baptist Foundation of Texas and a 3k SF lease for AFLAC. PMRG's Kurt Cherry and Shea Byers repped the landlord, AGEON Realty Advisors.

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Viner Finance renewed 16k SF at Galleria Office Towers from CBRE. CBRE’s Celeste Fowden, Shannon Brown and Kenzie Killgore repped the landlord. JLL's Kimarie Ankenbrand and Alan Wood repped the tenant. 

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KBM renewed 55k SF for its HQ at 2050 North Greenville in Richardson. CBRE’s Baron Aldrine and Mike Kay repped the tenant. 

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Ozburn-Hessey Logistics subleased 226k SF of industrial space from Southwest Moulding at 3845 Gifford St in Grand Prairie. JLL’s Nathan Orbin and Michael Swaldi repped the landlord. CBRE’s Ann Huntington repped the tenant. 

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Brooks Equipment Co renewed 39k SF at 902 Avenue R in Grand Prairie. CBRE’s Brian Gilchrist and Tim Vogds repped the tenant. Colfin 2015-2 Industrial Owner is the landlord. 

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AC Products renewed 10k SF at 3551 Plano Pkwy in The Colony. CBRE’s Tommy Nelson and Lucy Durbin repped the landlord, A&H Properties. 

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Aethon Energy Operating leased 24k SF at 12377 Merit Drive in Dallas. Russell Trenary Realtors' Russell Trenary repped the tenant. CBRE’s Celeste Fowden and Alexandra Jennings repped the landlord, Exco Resources. 

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Agbitech leased 67k SF of industrial space from CentrePort Industrial Phase 1 at 14401 Sovereign Road in Fort Worth. Cushman & Wakefield’s Mark Collins and Shannon Johnston repped Agbitech.

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MultiPlan leased 26k SF of office space at 222 West Las Colinas Road in Irving. Cushman & Wakefield’s John Fancher and Matt Schendle repped AG-PCPI Urban Towers Owner. CBRE’s Robert Blount repped the tenant.

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TIG is pre-leasing two projects:

  • Retail, restaurant and entertainment space within the 18-acre mixed-use project at Main Marketplace in Little Elm, which is anchored by FLIX Brewhouse.
  • 38k SF of retail space within Stonebrook Park in the 800k SF mixed-use property in Frisco.

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Automated Outlet leased 11k SF at 1525 Capital Drive in Carrollton from Floyd Ventures. Mercer’s Adam Curran and Keenan Cook repped the landlord. 

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Nuera Transport leased 30k SF at 1244 Round Table Drive in Dallas from 462 Thomas Family Properties. Mercer’s Jeremy Mercer repped the tenant. 

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Avocados from Mexico leased 12k SF of office space from AG-PCPI Urban Towers Owner at 222 Las Colinas Blvd in Irving. Cushman & Wakefield’s John Fancher and Matt Schendle repped the landlord, and CBRE's Kevin Kelly repped the tenant.

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Bright Realty's Timothy McNutt and Britton Lankford brokered leases for several Spirit Halloween stores in Allen, Arlington, Dallas, Desoto, Garland and Lewisville totaling 119k SF.

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Pollo Campero leased 13k SF to relocate its international headquarters to Hidden Grove at 12404 Park Central in Dallas. JLL’s Jeff Eckert, James Esquivel and Ahnie Gampper negotiated for the landlord, Red River Asset Management. Transwestern's Robert Deptula repped the tenant.

DEVELOPMENT

HALL Group will break ground later this month on the 17th building at HALL Park, its 162-acre, 2M SF development in Frisco. The new trophy building at 3201 Dallas Pkwy will be 12 stories and contain 300k SF.

FINANCING

Love Funding closed a $26M loan for the construction and permanent financing of Overlook at Prestonwood, a new senior apartment community under development in Carrollton.

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Arch-Con Construction broke ground and JLL closed on financing on I-20 Commerce Center, a 900k SF spec industrial development in Lancaster. JLL’s Adam Mengacci secured $34M in acquisition and development financing and raised $10M in equity. American National Insurance Co provided the loan, and ANICO Eagle provided equity as the JV partner. JLL’s Kurt Griffin and Nathan Orbin led acquisition and leasing responsibilities.

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Berkadia financed Skillman-Abrams Shopping Center, a retail property at 6770 Abrams Road in Dallas. Berkadia’s Joe Hevey secured the $15M bridge redevelopment loan through Interbank, a privately held bank under holding company Olney Bancshares of Texas. The three-year, interest-only interim loan features a 3.9% fixed interest rate.

IN MEMORIAM

Thomas Callahan, a member of Ashford Hospitality Trust's board of directors, passed away on Aug. 23. Thomas had a distinguished career as a hospitality and real estate consultant and had served on Ashford’s board of directors since December 2008. Most recently, he was also the chairman of the audit committee and a member of the compensation committee.