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This Week's Dallas-Fort Worth Deal Sheet

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Grandscape inked three first-to-market concepts. Andretti Indoor Karting and Games leased 110K SF and will open in 2019 with more than 120 arcade games, a ropes course, racing simulators and a restaurant.

Grandscape inked three first-to-market concepts. Andretti Indoor Karting and Games leased 110K SF and will open in 2019 with more than 120 arcade games, a ropes course, racing simulators and a restaurant. Japanese restaurant Akira Back and Windmills Craftworks, a restaurant, beer, book and music concept hybrid, will both open in 2018.
Andretti Indoor Karting and Games at Grandscape

Japanese restaurant Akira Back and Windmills Craftworks, a restaurant, beer, book and music concept hybrid, will both open in 2018.

EXECS

Quine & Associates Inc. promoted Randy Scott to senior vice president. Scott joined Quine & Associates in January of 2001. He manages and leases over 600K SF of retail properties in DFW.

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Jeff York, a longtime industrial real estate broker out of Orlando, has joined United Properties Southwest as director of brokerage operations. United Properties develops warehouse facilities nationwide for lease or ownership of end users. 

SALES

LBA Realty purchased 4895 Mountain Creek, an industrial build-to-suit totaling 192K SF, from the Courtland Group for an undisclosed price. CBRE’s Jack Fraker, Jonathan Bryan and Ryan Thornton repped the seller.

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TPBJ Joint Venture sold the 31K SF office at 1100 Macon St. in Fort Worth to Crawford & Crawford Inc. CBRE’s Blake Lloyd repped the buyer, and CBRE’s David Walters repped the seller. 

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Trinity Basin Preparatory sold the 31K SF office at 10150 Monroe Drive to Horizon Ventures. CBRE’s Ryan Buchanan and Jerry Cobb Jr. repped the seller. Colliers’ Ward Richmond and Chris Teesdale repped the buyer. 

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MITR Investments purchased a 31K SF shopping center at 2520 Northeast Green Oaks Blvd. in Arlington. Troy Morgan of Structure Commercial negotiated the sale.

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Kakatiya Holdings purchased a 54K SF shopping center at 6950 Lebanon Road in Frisco. Structure Commercial's Troy Morgan and Eric Deuillet negotiated the sale.

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Texas Dow Employees Credit Union purchased the freestanding 8K SF retail building at 1920 West Northwest Highway in Garland. Troy Morgan and John Hiller of Structure Commercial negotiated the sale.

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Premier Funding Group Inc. sold 36 acres near the intersection of U.S. Highway 287 and Commerce Drive in Mansfield to 34.5 Acres Highway. Wayne Burgdorf of Coldwell Banker Commercial Advisors DFW repped the seller. Ritter & Associates' Clay Wilkinson repped the buyer.

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LEJJ Realty sold 5.3 acres at the intersection of U.S. Highway 287 and Commerce Drive in Mansfield to A/S Mansfield. Wayne Burgdorf of Coldwell Banker Commercial Advisors DFW repped the seller. Quine & Associates' Coy Quine repped the buyer.

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Rowan Properties closed on the 72-unit Cleburne Plaza in Cleburne. Rowan Properties repped both the seller and the purchaser on the transaction that included the assumption of an existing Housing Assistance Payments contract. 

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Forest Theater retail block at 1902 to 1920 Martin Luther King Blvd. in South Dallas. Weitzman’s David Zoller handled negotiations for both buyer and seller. CitySquare will turn the 31K SF property into a public community center.
Forest Theater in Dallas

CitySquare acquired the historic Forest Theater retail block at 1902 to 1920 Martin Luther King Blvd. in South Dallas. Weitzman’s David Zoller handled negotiations for both buyer and seller. CitySquare will turn the 31K SF property into a public community center.

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Fort Worth Northbrook sold Northbrook Business Center, a 334K SF industrial business park in north Fort Worth. Northbrook 820, a Wilson & Stonaker partnership, purchased the property for an undisclosed amount. Transwestern principals Jeff Givens and Sarah LanCarte repped the seller. 

LEASES

LightRX Face & Body leased its first three DFW locations, for a total of 6K SF, as it expands in North Texas. It leased 2K SF at Preston Forest Village in Dallas, 2K SF at Preston Commons Shopping Center in Frisco and 2K SF at Alliance Town Center in Fort Worth.

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NAI Robert Lynn’s Colt Power repped the American Paint Horse Association in the relocation and leasing of its national headquarters at the Fort Worth Stockyards Horse and Mule Barns. APHA is the first tenant to ink a deal in the Stockyards redevelopment, which is expected to be completed by the end of 2018.

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DHISCO Inc., a hospitality distribution company, signed a co-location agreement in Aligned Energy’s Uptime Institute Tier III-certified data center in Plano.

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Infrastructure firm AECOM is relocating its regional headquarters from InfoMart to Galleria Towers at 13355 Noel Road. AECOM is moving from a 40K SF office to a 30K SF lease negotiated by CBRE’s Shannon Brown, Kenzie Kilgore, Celeste Fowden, Phil Puckett, Harlan Davis and Neal Puckett.

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Venture Commercial Real Estate’s Clay Mote and Tim Henson repped Natural Grocers in deals that will bring two new 15K SF stores to north Fort Worth and Keller in fall 2017. A developer purchased a two-acre site at 5210 North Tarrant Parkway east of Park Vista Boulevard in Fort Worth and a 1.5-acre site at the northeast corner of Keller Smithfield Road and FM 1709/Keller Parkway in Keller for the grocer. 

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Mars Petcare U.S. leased 394K SF and expanded into 212K SF at 3500 North Houston School Road in Lancaster. CBRE’s Kacy Jones and John Hendricks repped the landlord, Cshv 20/35 in the combined leases totaling 606K SF. Dan Cook and Mark Becker with Cushman & Wakefield repped Mars in the expansion. 

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Elements International Group leased 43K SF at 902 Nicholson Road in Garland from Prologis NA2 Texas. CBRE’s Nathan Lawrence repped the tenant. 

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Building Material Products Inc. leased 31K SF at 1330-1358 North Carrier Parkway in Grand Prairie. CBRE’s Steve Koldyke and Brian Gilchrist repped the tenant and the landlord, First Industrial Texas. 

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PrimeTime Lighting Systems leased 9K SF of office/warehouse space at 4124 Billy Mitchell Drive in Addison. NAI Robert Lynn’s Chad Albert and Cole Horowitz repped the tenant.

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Carolyn Nussbaum Music Co. leased 8K SF of office/warehouse space at 625 Digital Drive in Plano. NAI Robert Lynn’s Dave Peterson repped the tenant.

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Horizon Forest Products leased 37K SF of office/warehouse space at 2800 East Plano Parkway in Plano. NAI Robert Lynn’s Dave Peterson and Stephen Cooper repped the landlord, and Stream’s Ryan Boozer repped the tenant.

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MC Communications Inc. leased 13K SF of office space in Lakeside Square at 12377 Merit Drive in Dallas from Younan Properties. Bradford Commercial Real Estate’s Melanie Hughes, Bret Cooper and Richmond Collinsworth repped the landlord. John Beach and Garrison Efird of Jackson Cooksey repped the tenant.
Lakeside Square in Dallas

MC Communications leased 13K SF of office space in Lakeside Square at 12377 Merit Drive in Dallas from Younan Properties. Bradford Commercial Real Estate’s Melanie Hughes, Bret Cooper and Richmond Collinsworth repped the landlord. Jackson Cooksey's John Beach and Garrison Efird repped the tenant.

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S&S Activewear leased 493K SF at 35/820 @ Mercantile Center, a 657K SF warehouse and distribution building developed on a speculative basis by Hunt Southwest. S&S plans to open its new fulfillment center operation by the end of 2017.

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Redline Athletics leased 13K SF of retail space at 3178 Lavon in Garland. Structure Commercial's Scott Rose repped the landlord, and David English of Ridge Pointe Real Estate repped the tenant. 

FINANCING

Metropolitan Capital Advisors arranged a $19M construction loan for the Shops at Prosper Trail in Prosper. The loan features a rate fixed at 4.5% with 70% loan to cost. The sponsor refinanced an existing construction loan with less advantageous terms. Metropolitan Capital Advisors’ Todd McNeill arranged the loan. 

DEVELOPMENT

San Antonio-based Embrey Partners broke ground on Kelley at Samuels Ave., a 10-acre, 353-unit, Class-A multifamily community in Fort Worth. Embrey Partners is restoring the original 1884 Queen Anne home.

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American Tire Distributors Inc. opened its 756K SF Alliance Regional Mixing Center at Alliance Gateway 60 in AllianceTexas. The ATD Alliance Mixing Center will add more than 70 jobs to the region. 

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ML Realty Partners will develop a 121K SF industrial facility in Lewisville with frontage on Highway 121. Available for occupancy in spring of 2018, the rear-load building will accommodate midsize tenants. Henry S. Miller's Dan Spika will lease the building.

Related Topics: Deal Sheet, The Deal Sheet