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This Week's Dallas-Fort Worth Deal Sheet

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Trammell Crow and joint venture partner PGIM Real Estate started construction on Phase 2 of 35-Eagle industrial park in Fort Worth.

Trammell Crow and joint venture partner PGIM Real Estate started construction on Phase II of 35-Eagle industrial park in Fort Worth. Three new buildings are planned for the 106-acre site: Building A, a 1.1M SF cross-dock warehouse; Building H, a 313K SF rear-load warehouse; and Building J, a 234K SF cross-dock warehouse. Completion for all three buildings is expected for late 2017.
35-Eagle Industrial Park in Fort Worth

Three new buildings are planned for the 106-acre site: Building A, a 1.1M SF cross-dock warehouse; Building H, a 313K SF rear-load warehouse; and Building J, a 234K SF cross-dock warehouse. Completion for all three buildings is expected in late 2017.

EXECS 

Younger Partners hired two new execs. Larry Shaw joined Younger Partners to lead market research efforts and provide investment analysis and valuation assistance. Lew Wood joined Younger Partners to handle investment sales with a focus on multifamily and office.

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Westmount Realty Capital hired Kevin Michels as director of investment analysis. Michels will provide analysis of Westmount’s multifamily portfolio.

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NorthMarq Capital hired Ruth Davis as vice president in the Dallas regional office. Davis will focus on sourcing debt and equity opportunities for all product types throughout the country. 

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Capital One appointed Eric Schuppenhauer as Collin County market president. Schuppenhauer will oversee the design, development and implementation of an integrated community strategy for Capital One in Collin County. 

SALES

First-time buyers purchased Jupiter Place Apartments in Garland. Old Capital provided the non-recourse loan at 80% loan-to-value ratio with a low fixed-rate interest rate with three years of interest-only for the 32-unit complex.

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Younger Partners’ Ben McCutchin sold 215 acres at Preston Road, FM 902 and Old Dorchester Road in Dorchester. McCutchin represented the buyer, the Ronald McCutchin Family of Dallas. The seller, Phase 10 Investments of Cedar Hill, was represented by Kim Schwimmer.

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NVN purchased a 5K SF building at 1308 Brown Trail in Bedford. Hunter Hayes of NAI Robert Lynn represented the seller.

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Ocean Investments acquired a 15K SF industrial facility at 10600 Boomer Circle in Dallas. The company was represented by Cushman & Wakefield’s Dan Cook and Mark Becker. Stream’s Matt Dornak represented the seller.

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Sterling Organization purchased Creekwalk Village, a 174K SF shopping center at the northeast corner of West 15th Street and Alma Drive in Plano. The property was purchased from 29 tenants in common owners through Sterling Organization’s institutional fund Sterling Value Add Partners II for $24.5M. The shopping center is 100% occupied by nine retailers.
Creekwalk Village in Plano

Sterling Organization purchased Creekwalk Village, a 174K SF shopping center at the northeast corner of West 15th Street and Alma Drive in Plano. The property was purchased from 29 tenant-in-common owners through Sterling Organization’s institutional fund Sterling Value Add Partners II for $24.5M. The shopping center is 100% occupied by nine retailers.

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Riveridge Properties I sold four light-industrial tracts totaling seven acres, in the 1200 block of West Trinity Boulevard in Grand Prairie, to Elmore Enterprises. Coldwell Banker Commercial Advisors DFW's Wayne Burgdorf represented the seller. Primera Cos.' Pete Richardson represented the buyer.

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Marcus & Millichap sold Country Inn & Suites, a 62-room hospitality property at 755B East Vista Ridge Mall Drive in Lewisville. Marcus & Millichap’s Chris Gomes and Allan Miller had the exclusive listing to market the property on behalf of the seller, a private investor.

LEASES

Moss Utilities leased 7K SF at 3300 Rock Island Road in Dallas from Rock Island Investments. Mercer’s Keenan Cook repped the landlord. Younger Partners' Josh Remington and Chris Callicutt repped the tenant. 

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Air Patrol leased 8K SF at 13644 Neutron Road in Dallas. Mercer’s Adam Curran repped the landlord, WDT World Discount Telecommunications. 

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Anthony Sommer leased 10K SF of warehouse space in Parkway Distribution Center at 831 South Great Southwest Parkway in Grand Prairie from First Industrial Texas. Chris Mendez of Coldwell Banker Commercial Advisors DFW represented the landlord. CBRE’s Brian Gilchrist represented the tenant.

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Bank of Texas expanded its lease in Sherry Lane Place by 8K SF, for a total of 78K SF. Cushman & Wakefield’s Randy Cooper, Craig Wilson, Steve Wentz and Dan Harris represented Bank of Texas. Cushman & Wakefield’s Clint Madison and Ward Eastman represented the landlord, Sherry Realty Holdings.

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The Colaneri Firm inked a new 5K SF lease at 524 East Lamar Office Centre in Arlington. Swearingen’s Jim Montgomery repped the tenant. Younger Partners’ Sean Dalton and Kathy Permenter repped the landlord.
524 East Lamar Office Centre in Arlington

The Colaneri Firm inked a new 5K SF lease at 524 East Lamar Office Centre in Arlington. Swearingen’s Jim Montgomery repped the tenant. Younger Partners’ Sean Dalton and Kathy Permenter repped the landlord.

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TEKsystems leased 38K SF at 3232 Royal Lane in Irving. Cushman & Wakefield’s Randy Cooper, Craig Wilson and Travis Boothe represented the tenant. The landlord, PS Business Parks, was represented in-house by Sloan Teegarden.

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L&B Advisors leased 26K SF at Premier Place in Dallas. Cushman & Wakefield’s Bill McClung, Mike Wyatt and Barrett Jones represented the tenant. The landlord, CBRE Global Investors, was represented by CBRE’s Dennis Barnes, Clay Gilbert and Kenzie Killgore.

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The Town of Westlake leased 21K SF in The Terrace at Solana at 1500 Solana Blvd. in Westlake. Cushman & Wakefield’s Craig Wilson and Randy Cooper represented the tenant. The landlord was represented by Jay Bailey of JLL.

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Curtainwall Design Consulting extended its 17K SF lease at Park Lane in Dallas. Cushman & Wakefield’s Trey Smith and Ward Eastman represented the landlord, Northwood Investors. The tenant was represented by CBRE’s Josh White.

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Hawkins Parnell leased 15K SF in Highland Park Place at 4514 Cole Ave. in Dallas. Cushman & Wakefield’s Trey Smith and Lauren Napper represented the landlord, KPS Realty. The tenant was represented by Brooke Armstrong of JLL.

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CSL Plasma leased 12K SF of medical retail space at Haltom Plaza Shopping Center at 3137 Denton Highway in Haltom City. Cushman & Wakefield’s Stuart Smith and Jeffrey Maza represented the tenant.

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Manpower Group leased 15K SF at Millennium Tower in Addison. Cushman & Wakefield’s Randy Cooper, Craig Wilson, Dean Collins and Mark Collins represented the tenant. The landlord, Gaedeke Group, was represented in-house by Belinda Dabliz. 

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Marquette Business Credit renewed its lease for 11K SF at Premier Place in Dallas. Cushman & Wakefield’s Mike Gosslee represented the tenant. The landlord, CPUS Premier Place, was represented by Dennis Barnes of CBRE.

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Epic Health leased 10K SF at 1000 St. Louis Ave. in Fort Worth. Cushman & Wakefield’s Matt Heidelbaugh and Cribb Altman represented the tenant. The landlord, Gregg Enterprises, was represented in-house by Guion Gregg.

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Jeld-Wen renewed its lease for 175K SF at Main Street Distribution Center at 2510 West Main St. in Grand Prairie. Cushman & Wakefield’s Gary Collett and Jean Russo represented the tenant. The landlord, Liberty Property, was represented by Stream’s Cannon Green and Luke Davis.

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Trinsic Residential Services has leased 6K SF at 8235 Douglas in Dallas. The landlord, Transwestern Investment Group, was represented by Trey Smith and Lauren Napper of Cushman & Wakefield. The tenant was represented by Bob Buell of Fults Commercial.

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In addition to the 88K SF lease signed by Ansira, Galleria Towers inked and renewed several other tenants. CBRE’s Celeste Fowden, Shannon Brown and Kenzie Killgore lease the towers on behalf of CBRE Global Investments.
Three Galleria Tower

In addition to the 88K SF lease signed by Ansira, Galleria Towers inked and renewed several other tenants. CBRE’s Celeste Fowden, Shannon Brown and Kenzie Killgore lease the towers on behalf of CBRE Global Investments. The deals include:

  • An e-commerce company leased 44K SF on two floors at Two Galleria Tower.
  • Merrill Lynch renewed 34K SF at One Galleria Tower. JLL's Andy Leatherman represented the tenant.
  • AECOM, a leading design firm, leased 30K SF at One Galleria Tower. CBRE’s Phil Puckett, Harlan Davis and Neal Puckett represented the tenant.
  • Wunderlich Investment Co. leased 11K SF at Three Galleria Tower. CBRE’s Baron Aldrine and Noreen Mehdi represented the tenant.
  • Tibco Software renewed and expanded to 6K SF in Three Galleria Tower. Cushman & Wakefield’s Cribb Altman represented the tenant.
  • Cinsay renewed 6K SF at Two Galleria Tower. CBRE’s Robert Blount represented the tenant.
  • Strive Consulting leased 5K SF at Two Galleria Tower. CBRE’s Haynes Strader Jr. and Harlan Davis represented the tenant.
  • Waypoint Residential renewed and expanded to 5K SF at One Galleria Tower. JLL’s Alan Wood represented the tenant.
  • Conti leased 4K SF at Two Galleria Tower. Curt Linn with Avison Young in Dallas represented the tenant.
  • Performance improvement firm CR3 leased 2K SF at One Galleria Tower. JLL’s Brooke Armstrong represented the tenant.
  • J. Eisch Associates leased 2K SF at Two Galleria Tower. Fischer & Co.’s Dale Clemments represented the tenant.

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Stockdale Investment Group acquired Lakewood Shopping Center in East Dallas from Lincoln Property for an undisclosed sum. The center is 98% leased. 

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Venture Commercial Real Estate negotiated two leases that will bring Pet Supermarket stores to two Velocis-owned shopping centers in Fort Worth. Pet Supermarket will open a 7K SF store in Town Center Colleyville and a 7K SF store at Ridglea Village. Venture’s Easley Waggoner Jr. represented Velocis for both locations, working with Amy Pjetrovic on the Colleyville lease, and with Amanda Throckmorton on the Fort Worth lease. Weitzman’s Michelle Caplan and Gretchen Miller repped Pet Supermarket.

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Altaquip leased 15K SF of office/warehouse space at 923 Avenue N in Grand Prairie. Michael Stanzel and Patrick Embry of NAI Robert Lynn represented the landlord and Mercer & Co.'s Corby Hodgkiss represented the tenant.

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Texas Meter + Device Co. leased 10K SF of office/warehouse space at 933 Avenue N in Grand Prairie. NAI Robert Lynn's Michael Stanzel and Patrick Embry represented the landlord, and Bradford Cos.' Jim Ferris represented the tenant.

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AC Supply Co. leased 13K SF of office/warehouse space at 1200 Gambrel Road in Arlington. NAI Robert Lynn's Michael Stanzel represented the landlord, and Gary Vasseur of Vasseur Commercial Real Estate represented the tenant.

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Villa Join The Movement leased 5K SF of retail space at 2323 Singleton Blvd. in Dallas. Basil Mitchell of NAI Robert Lynn represented the landlord and Weitzman represented Villa.

FINANCING

The City of McKinney approved a tax incentive plan for a $100M lifestyle hotel and conference center in Craig Ranch. The project within the 2,200-acre Craig Ranch master planned development will receive up to $18M in economic incentives that include a $5M loan at commencement of construction and a $3M grant upon completion of the project from the McKinney Community Development Corp. Construction will begin this summer and complete fall 2019.

THIS AND THAT

NTCAR inducted Woodbine Development Corp. founder and chairman John Scovell and Transwestern principal Jack Huff into the 2017 Commercial Real Estate Hall of Fame. Downtown Dallas Inc. vice chairman John Crawford received the Michael F. McAuley Lifetime Achievement Award.
Jack Huff, John Scovell and John Crawford

NTCAR inducted Woodbine Development Corp. founder and chairman John Scovell and Transwestern principal Jack Huff into the 2017 Commercial Real Estate Hall of Fame. Downtown Dallas Inc. vice chairman John Crawford received the Michael F. McAuley Lifetime Achievement Award.

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Multifamily and student housing firm CF Real Estate Services opened its first location in the Southwest in Dallas. From the new regional office, CF Real Estate Services will manage its expanding portfolio of properties in Texas and the western U.S., and acquire and develop apartment communities in Texas.

 

CORRECTION May 10 2:53PM ET: A previous version of this story did not list Chris Callicutt as a tenant rep in the Moss Utilities deal.

Related Topics: Deal Sheet, The Deal Sheet