This Week's Dallas-Fort Worth Deal Sheet
Two Roads Hospitality’s Thompson Hotels group will operate the luxury boutique hotel at the Drever.
Slated to open in fall 2018, the 216-room Thompson Dallas hotel at The Drever (pictured) is being developed by California-based Drever Capital Management. The hotel will feature a 49th-floor restaurant, a wraparound amenity deck on the ninth floor with an outdoor infinity pool, a spa, a fitness center, a dog park, and multiple distinctive food and beverage offerings.
EXECS
JLL hired Randy Touchstone as VP. Working under the direction of managing director Craig Jones, Touchstone will focus on agency leasing, development, acquisitions, dispositions, property management and financial underwriting.
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Spirit Realty Capital hired Pierre Revol as VP of investor relations.
SALES
The Patel Law Group acquired a 31k SF office building at 1125 Executive Circle under its asset ownership group, 1125 Executive. Rubicon Representation’s Kyle Jacobs and Daniel Miller repped the buyer.
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Greysteel arranged the sale and acquisition financing for Barclay House, a multifamily property in the Berkeley Place neighborhood of Fort Worth, on behalf of an out-of-state investor to Pilot Properties. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson repped the seller and procured the buyer.
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Experienced ownership bought Wedgewood Apartments and Villas del Sol Apartments in Fort Worth. Old Capital arranged the 75% LTV non-recourse Fannie Mae loan assumption and supplemental.
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Stream secured the investment sale of Midway Office Park. The six-building portfolio totals 103k SF of flex office space at 4275 Kellway Circle and 16160 Midway Road in Addison. Jamie Jennings, James Mantzuranis, Caitlin Clinton and Chase Lopez with Stream Realty Partners repped the seller, PRE Management.
Stream secured the investment sale of a 315k SF industrial facility at 601 National Drive in Ennis (pictured). The BTS warehouse, manufacturing and office facility is 100% leased to Cenveo Corp. Stream’s Jamie Jennings, James Mantzuranis, Caitlin Clinton and Cannon Green repped the seller, LSREF4 Dual.
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Office Depot at 8330 North Stemmons Fwy in Dallas was sold. A local partnership repped by Will Walters with DuWest Realty sold the 30k SF property to a 1031 exchange buyer out of California.
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Columbia Property Trust exited the Dallas and Phoenix markets with the recent sales of two office properties: CVS Health Tower, a Class-A office building at 750 West John Carpenter Fwy in Irving, and SanTan Corporate Center, a Class-A office property in Chandler, AZ. Columbia will use the $110M in total gross proceeds from both sales for reinvestment in its target markets.
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MBP Capital purchased a 201-unit Class-B multifamily complex called River Ben Village in Arlington. CBRE’s Dirk Goris and Danny Baker repped the local seller. Ryan Heddleson, Mike Phillips and Cathy Finn self-repped MBP Capital.
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City Vet purchased a 21k SF pad site at the Shops at Mockingbird at 4560 West Mockingbird Lane in Dallas. Mike Cagle and Taylor LeMaster of Inroads Realty repped the seller.
LEASES
The Star in Frisco inked retail deals with Cane Rosso, Concrete Cowboy, Cow Tipping Creamery, Donut Kitchen, East Hampton Sandwich Co, Howard Wang’s China Grill, PlainsCapital Bank, Raising Canes, The Common Table, The Lincoln Experience Center, Trophy Park, Yucatan Taco Stand, Zaytinya and Ziziki’s.
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Eleganza Tiles Inc renewed 60k SF of industrial space in Prologis Dallas Corporate Center at 2230 LBJ Fwy in Dallas. Bradford’s Joe Santaularia and Brock Wilson repped the tenant. Prologis’ Mitch Pruitt repped the landlord, Prologis.
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Filpac Products renewed 25k SF of warehouse space in Pinnacle Park at 1444 Cockrell Hill Road in Dallas. Bradford’s Brian Pafford and Jason Miller repped the landlord.
The Perfectly Green Corp subleased 21k SF of industrial flex space in Jupiter North Distribution Center at 2901 Technology Drive in Plano (pictured), from Advanced Flooring and Design. Bradford’s Brian Pafford and Clint Manning repped the landlord. Ryan Jordan of Edge Realty Partners repped the tenant.
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San Antonio Quality Metals leased 20k SF at 2515 Willowbrook Road in Dallas. William Shagets with Sealy & Co repped the landlord, Sealy SW Dallas. Stream’s Ryan Boozer repped the tenant.
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Kilpatrick Townsend & Stockton renewed its 22k SF lease at Trammell Crow Center at 2001 Ross Ave in Dallas. Stream’s Ramsey March, Sara Terry and Scott Sowanick repped the landlord, JP Morgan. CBRE repped the tenant.
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Gemaire Distributors renewed its 27k SF lease at 1520 Selene Drive in Carrollton. Stream’s Blake Kendrick and Mackenzie Ford repped the landlord, GLP. Stream’s Eric Crutchfield and Ryan Boozer repped the tenant.
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Pacific Coast Supply leased 27k SF at 2115 West Valley View Lane in Farmers Branch. Lincoln Property repped the landlord, 2115 Valley View. Stream’s Eric Crutchfield repped the tenant.
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Productiv leased 30k SF at Heritage Business Park at 100 South Nolen Drive in Grapevine. Stream’s Blake Kendrick and Sarah Ozanne repped the landlord, KTR. Stream’s Ryan Boozer repped the tenant.
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Eliane Ceramic Tiles leased 30k SF at Two Valwood Park at 13921 Senlac Drive in Farmers Branch. Stream’s Blake Kendrick and Mackenzie Ford repped the landlord, Balcones Recycling. NAI's Robert Lynn repped the tenant.
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Seacross Trading renewed its 36k SF at 1725 to 1745 Hayden Drive in Carrollton. Sealy & Co repped the landlord, Sealy SW Carrollton. Stream’s Ryan Boozer repped the tenant.
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Rynn's Luggage of Texas leased 38k SF at 1808 Monetary Lane in Carrollton. Stream’s Blake Kendrick and Mackenzie Ford repped the landlord, GLP. Rich Young Co repped the tenant.
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3Wire Group leased 46k SF at 1500 Luna Road in Carrollton. Stream’s Blake Kendrick and Mackenzie Ford repped the landlord, GLP. JLL repped the tenant.
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Medical Specialties Distributors expanded and extended its 55k SF lease at Freeport II at 8724 North Royal Lane in Irving. Holt Lunsford Commercial repped the landlord, Riverbend DFW Industrial. Stream’s Jeremy Kelly and 360 Real Estate Services’ Jeff Ludwig repped the tenant.
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Moore Supply leased 106k SF at Mercer Business Park in Farmers Branch. Billingsley Co repped the landlord, Billingsley Development Corp. Stream’s Eric Crutchfield and Ryan Boozer repped the tenant.
DEVELOPMENT
Huffines Communities opened Harmony, a luxury apartment community at 11010 Harmony Hill Lane in Rowlett. The first building delivered in September 2016 and by mid-November, 64 of a total of 326 units in Phase 1 were yet to be leased. Two additional Phase 1 buildings will be ready for move-in this month and the final building will be delivered in March 2017.
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Brasfield & Gorrie completed a master planned vertical expansion project at Medical City Dallas and extensive renovations to the hospital. The company recently began a 162k SF vertical expansion of Tower D to house Medical City’s new Women’s Hospital.
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Port Logistics Realty has broken ground on an 83k SF Class-A spec warehouse in Grand Prairie. Completion is slated for Q2 2017.
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The Bath & Kitchen Showplace will temporarily move to 111 Oak Lawn Ave in the Design District. With an opening date in January 2017, the temporary showroom will be the first of two moves for The Bath & Kitchen Showplace as it readies its future permanent space at Mercer Crossing, at I-35 and I-635.
THIS AND THAT
The 2016 CREW Dallas Award Winners are pictured from left. KeyBank Real Estate Capital’s Lynn Drummond won the Chapter Service award. AECOM’s Courtney Emich Spellicy won the Rising Star award. Walter P. Moore’s Nicole Hayes won the Outstanding New Member award. KDC’s Tracie Gaber Frazier won the President's award. Republic Title Commercial’s MaryBeth Kelley Shapiro won the CREW in the Community Philanthropic Excellence award.
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KWA Construction Superintendent Larry Cox won Superintendent of the Year at the recent Dallas Builders Association's Multifamily Council awards ceremony.
