This Week's Dallas-Fort Worth Deal Sheet
Canal Centre Investors purchased Canal Centre, a Class-A, 238K SF Las Colinas office building at 400 East Las Colinas Blvd., from Libitzky Property Cos. and Sunwest Real Estate Group.
The purchase was made with the help of financing from undisclosed investors in Hong Kong and Honolulu. YH Professionals handled the financing for Canal Centre Investors.
CBRE’s Eric Mackey, Gary Carr, John Alvarado, Evan Stone, Jared Chua and Robert Hill represented the seller. SVN’s Bruce Marshall represented the buyer.
“Canal Centre presented investors with a stable, in-place cash flow and near-term upside through below-market rents,” Mackey said.
The Class-A property is 90% leased and is within the buzzy Urban Center of Las Colinas.
TV6 Holdings bought 8K SF of restaurant space at 1001 18th St. in Plano from Juan and Martina Aparicio. Henry S. Miller’s Dan Spika represented the seller. Dominus Commercial’s Stephen LaMure represented the buyer.
JR Spring Valley Property bought 123K SF at 1250 West Spring Valley Road in Richardson from SVCW Properties LLC. Mercer Co.’s Keenan Cook represented the buyer. Weitzman’s Matt Rosenfeld represented the seller.
Unique Courier Service leased 8K SF in Grapevine at 755 Port America Place from Stockbridge Port America L.P. Mercer Co.’s Turner Petersen represented the tenant. Lincoln Property Co.’s Gil Stroube represented the landlord.
Snap Drape Brands renewed its lease of 44K SF at 2045 Westgate in Carrollton. NAI Robert Lynn’s Cole Horowitz and Mark Miller represented the tenant.
Coldwell Banker Residential Brokerage leased 10K SF at Hall Office Park in Frisco. Tenant Real Estate Advisors' Josh Bryan represented the tenant. Hall Group’s Cynthia Cowen represented the landlord.
Royal Blue Grocery and NL Group Inc. are leasing a combined 9K SF at Trammell Crow Center, 2001 Ross Ave. Stream Realty secured the leases.
AECOM’s Courtney Emich Spellicy was appointed to the Dallas Landmark Commission. She will serve a two-year term through September 2019. On the commission, she will make recommendations on what should be conserved as well as vetting changes to historical buildings.
Berkadia hired Nathan Stone as managing director in its Dallas office. Prior to joining Berkadia, Stone was a senior director at NorthMarq Capital, and prior to that, he worked for Seneca Investments.
NAI Robert Lynn hired Jim Hancock as senior vice president of its capital markets division and Robert Hoodis as managing partner of the company’s newly created investment division. Prior to joining NAI Robert Lynn, Hancock was senior vice president at CMC-Commercial Realty Group Inc. and managing director at SVN Commercial Real Estate Advisors. Hoodis was principal at Rainier Realty Investments and a partner at EDGE Medical Ventures before joining NAI Robert Lynn.
THIS AND THAT
Hotel Indigo, a boutique hotel in Frisco, opened on Nov. 21. Recently purchased by MDM F T LLC, the 110-room hotel sits on the Avenue of Stars near the Frisco Convention Center, Dr. Pepper Arena, Stonebriar Mall and the Ford Star Center.