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This Week's Dallas-Fort Worth Deal Sheet

Bobby Turner, Eva Longoria and other representatives of the LA-based Turner Multifamily Impact Fund unveiled a new on-site Telehealth kiosk at the 356-unit Legends on Lake Highlands. The kiosk is designed to allow residents to access “virtual doctor’s visits,” at a lower cost than a traditional medical facility.

This Week's Dallas-Fort Worth Deal Sheet
Bobby Turner and Eva Longoria

Officials at Turner said this is the company’s reflection of the trend toward telehealth. 

“Improving access to high-quality affordable housing as well as access to high-quality healthcare services are core missions for Turner Impact Capital, so I am enthusiastic about the new resource we have introduced at Legends on Lake Highlands,” Turner Impact CEO Bobby Turner said.

The Family Health Virtual Kiosk is the brainchild of Children’s Health and is equipped with a range of diagnostic equipment to help assign treatment to users.

EXECS

Stream Realty Partners promoted Ramsey March to partner. March has been with the firm since 2009 and was previously senior vice president of the capital markets group at Rockwood Real Estate Advisors.

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MBL Title hired Jennifer Haden as senior vice president of national commercial services and Adam Rachavong as senior vice president and commercial closing attorney. Haden was previously with Republic Title’s national commercial operations division, and Rachavong was with Stewart Title Guaranty Co. for 12 years before joining MBL.

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Perkins+Will hired Vandana Nayak as regional education practice leader. Nayak has spent more than 20 years in the field of educational architecture and will be in charge of Texas strategy and client engagement for the firm.

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Coldwell Banker Commercial Advisors DFW hired Christopher Grubbs as assistant vice president in its retail department. Grubbs was at Weitzman Group prior to joining Coldwell.

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Westmount Realty Capital hired Shawn Riely as director of private capital. Riely has more than 30 years of experience in the industry and was managing director at Encore Enterprises prior to coming on board with Westmount.

SALES

 

This Week's Dallas-Fort Worth Deal Sheet
La Cima Crossing

SHOP Cos. Investment Sales sold two 100% leased retail properties in Dallas-Fort Worth, totaling 30K SF.

  • Frisco Market Center: Antegrade Holdings bought the 20K SF retail center in Frisco near the $5B Mile. The buyer represented itself.
  • La Cima Crossing: An undisclosed company purchased the 10K SF retail center in Prosper at the intersection of Highway 380 and La Cima Boulevard. The buyer represented itself.

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Bridge Office acquired Tower 1320, a 243K SF Class-A office building in Las Colinas at 1320 Greenway Drive, from Arden Group. CBRE’s Evan Stone, Gary Carr, Eric Mackey, John Alvarado, Jared Chua, Robert Hill and Mary Claire Houseman represented the seller. Bridge Office represented itself.

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TDX Corp. bought the 36K SF Raintree Exchange Building in Allen from Affiliated Physicians Holdings. David Hicks Co. represented the seller. SSS Commercial Real Estate represented the buyer.

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California Capital Real Estate Advisors bought the 138-unit multifamily property Diamond Loch at 6100 Glenview Drive in north Fort Worth. JLL’s Scott LaMontagne, Zar Haro, Moses Siller and David Fersing represented the seller 6100 Glenview Drive LLC.

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Kennington Property Co. purchased the 126K SF Jupiter Service Center from Situs. Stream’s Jamie Jennings, James Mantzuranis, Matt Dornak and Ryan Wolcott represented the seller.

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TDI purchased a 20K SF office building in Dallas at 15441 Knoll Trail Drive. Marcus & Millichap’s Ron Hebert represented the seller, CIP 2014/Cp Tollway Owner. Henry S. Miller’s Dan Spika represented the buyer.

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Marcus & Millichap’s multifamily team sold nine assets valued at $93M. Nick Fluellen and Bard Hoover closed a total 1,798 units between Aug. 11 and Oct. 2. They are:

  • Sonoma, 60 units, Dallas
  • El Castillo, 96 units, Garland
  • Timber Ridge, 212 units, Fort Worth
  • Elm Street Village, 37 units, McKinney
  • Pinehurst, 70 units, Longview
  • Los Robles, 106 units, Dallas
  • Crosswinds, 176 units, Corpus Christi
  • Colorado, 59 units, Dallas
  • Pasadena Portfolio, 982 units, Pasadena

Fluellen and Hoover worked with Institutional Property Advisors' Will Balthrope, Drew Kile and Jordan Featherston on the marketing of Crosswinds. 

Marcus & Millichap’s Jeffrey Fript, Mark Allen, Evan Burke, Trey Caldwell, Christian Mazzini and Joseph Murry provided additional representation on the sales of Sonoma, Elm Street Village, Timber Ridge, Pinehurst, Colorado and the Pasadena Portfolio. 

Brian Adams with Marcus & Millichap’s IPA Capital Markets division arranged financing for the Sonoma and Colorado transactions. 

IPA Capital Markets' Jake Roberts arranged financing for the Timber Ridge acquisition.

LEASES

Bradford Commercial Real Estate Services negotiated these leases in North Texas:

  • Store Display Fixtures has renewed 19K SF of warehouse space at 444 Mockingbird Lane, Dallas. Bradford Commercial Real Estate Services’ Brock Wilson and Joe Santaularia represented the landlord, GIJV TX I LLC. Lee & Associates Commercial Real Estate Services’ Corbin Blount represented the tenant.
  • Southwest Medical & Dental Inc. renewed 11K SF of warehouse space at 406 Mockingbird Lane in Dallas. Bradford Commercial Real Estate Services’ Brock Wilson and Joe Santaularia represented the landlord, GIJV TX I. Lee & Associates’ Corbin Blount represented the tenant.

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ESRP negotiated two leases in DFW:

  • Caris Life Sciences leased 27K SF of office space for its corporate headquarters at 750 West John Carpenter Freeway in Irving. ESRP’s Greg Burns and Christopher Schafer represented Caris. Stream Realty's Mark Hayes represented the landlord, Piedmont Office Realty Trust.
  • Chavez & Valko leased 13K SF at 10670 North Central Expressway in Search Plaza in Dallas. ESRP’s Christopher Schafer and Damian Rivera represented Chavez & Valko. Matt Waldon represented the landlord, Pillar Commercial.

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This Week's Dallas-Fort Worth Deal Sheet
Maplewood Shopping center redevelopment rendering

Retail solutions negotiated six leases totaling 23K SF in DFW: 

  • Sun Lee Taekwondo leased 4K SF at 407 West Eldorado Parkway in Little Elm. Retail Solutions’s Chris Flesner and Brian Sladek represented the landlord. Coldwell Banker’s Steve Croizer represented the tenant.
  • Family Mattress leased 3K SF at 990 Highway 287 in Mansfield. Retail Solutions’ Brian Sladek and Janice Landers represented the tenant. Crestview Real Estate’s Tim Thompson represented the landlord.
  • A Mexican restaurant leased 1K SF at 3969 Teasley Lane in Denton. Retail Solutions’ Chris Flesner and Gavin Fite represented the landlord. 
  • High Roller Private Room leased 4K SF at 4051 LBJ Freeway in Farmers Branch. Retail Solutions’ Sam Littlejohn represented the landlord.
  • Swing By leased 1K SF at 6200 McCart Ave. in Fort Worth. Retail Solutions’ Brian Sladek and Jeff Lewin represented the landlord. 
  • An Asian buffet leased 10K SF at 9208 E R L Thornton Freeway in Dallas. Retail Solutions’ Brian Sladek represented the landlord. Pacific Century Realty’s Alfred Goh represented the tenant.

DEVELOPMENT

Vista Property acquired the Maplewood shopping center in the Medical District of Dallas. Vista plans to overhaul the site to capitalize on the proximity to Class-A apartment communities, UT Southwestern and Parkland hospital. The firm acquired the property in 2016 and will begin redevelopment soon.

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MYCON General Contractors completed the Walmart Supercenter in Frisco. The 189K SF retail site is at 355 Stonebrook Parkway.

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Patrinely Group and Rosewood Property Co. are about to initiate the first phase of development for Heritage Creekside, a 72-acre mixed-use office campus along President George Bush Turnpike, west of 75. The campus will provide over 2.5M SF of space. Phase 1 will include 344K SF of Class-A office space.

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The City of Allen approved the development of Stacy Green, a 79-acre mixed-use development at Stacy Road and 75. Developer Brian Glaser and Provident Realty Advisors will head up the project. Because the property includes flood plain reclamation, construction must wait until developers receive approval from the Federal Emergency Management Agency.

THIS AND THAT

Long Wharf Capital and Crescent Real Estate selected JLL for the exclusive leasing assignment for their West End portfolio — a four-building package with over 250K SF of office space on the ground and a fifth building on the way. The Luminary, a 163K SF office development by Crescent and Long Wharf, breaks ground on Nov. 1, and it will be the Historic West End's tallest office building. JLL Vice President Ruth Griggs will spearhead the marketing and leasing efforts.