This Week's Dallas-Fort Worth Deal Sheet
Three new leases at Two Colinas Crossing bring the property up to 98% leased.
IBM (66K SF), an undisclosed financial services company (33K SF) and Home Point Financial (65K SF) leased a combined 164K SF from landlord Lexington Lion Farmers Branch L.P., an affiliate of Lexington Realty Trust.
Lexington’s Chris Delzell and Transwestern’s Duane Henley and Nathan Durham represented Lexington in lease negotiations.
“Two Colinas Crossing underwent a major transformation that accelerated leasing efforts to bring the property to near full occupancy,” Delzell said. “It was a team effort, with Entos and Transwestern working with Lexington to achieve this high level of success.”
The property was single-tenant up until 2016 when the main tenant vacated. Lexington approached Transwestern to market and lease the property as a multi-tenant property as well as initiated a $1M capital improvement campaign. Entos Design drew up the upgrades for the building. The building is now undergoing tenant improvements and is expected to be ready for move-in early this year.
Trammell Crow promoted Jake Marks to principal in DFW. He will focus on industrial development land acquisition, construction, financing and entitlement in the DFW area. Marks has been with Trammell Crow since 2001 when he joined as a development analyst.
Dominium Development and Acquisition purchased Rosemont at Timber Creek, a 100-unit multifamily property at 801 Beckleymeade Ave. in Dallas, from Cascade Affordable Housing. CBRE’s Jeff Kunitz, Alex Medeiros, Chris Deuillet and Chandler Sims represented the seller.
Transwestern completed the sales below totaling 35K SF in Fort Worth.
- Trustee of the University Holdings Trust sold 611 University, a 6K SF retail property, to Deep Ellum Brewing. Transwestern’s Grant Huff represented both the buyer and the seller.
- Transwestern’s Jack Huff and Grant Huff represented an undisclosed buyer in the purchase of a 3K SF office property at 1121 Fifth Avenue.
- Transwestern’s Grant Huff represented both parties in the sale of 13K SF of land at 6000 West Sixth St.
- TFB Partners Ltd. sold 2200 South Riverside Drive, a 13K SF industrial property, to eScreen Environmental. Transwestern’s Todd Hawpe represented the seller. Holt Lunsford Commercial’s Donnie Rohde represented the buyer.
MG2 Ventures secured 11K SF of leases for the Foundry District in Fort Worth.
- Blackland Distillery — 5K SF, set to open summer 2018
- Gifted — 809 SF, set to open spring 2018
- Meyer & Sage — 4,250 SF, to open in May
- Fusion Medical Aesthetics — 1,100 SF, opening in March
Dana Safety Supply leased 12K SF of industrial/warehouse space from Steele Folsom Martin, Joint Venture in the Triad Business Park at 814 Blue Mound Road in Saginaw. Wingert Real Estate’s Todd Lambeth represented the landlord. Henry S. Miller Brokerage’s Jim Breitenfeld represented the tenant.
Holt Lunsford Commercial completed lease renewals totaling 177K SF:
- Intermex Products Inc. renewed its 104K SF lease at 1375 Ave. S in Grand Prairie. Holt Lunsford Commercial’s Canon Shoults represented the landlord, Crow Holdings.
- BARSCO Inc. renewed its 11K SF lease at 3411 Ave. D in Arlington. Holt Lunsford Commercial’s Clay Balch and Canon Shoults represented the landlord, ATCAP Partners.
- Altima Diagnostics Imaging Solutions Inc. renewed its 18K SF lease at 5380 Redbird Center Drive in Dallas. Holt Lunsford Commercial’s Canon Shoults, Andrew Gilbert and John Gorman represented the landlord, Rialto.
- Martin Preferred Foods renewed its 20K SF lease at 5556 Redbird Center Drive in Dallas. Holt Lunsford Commercial’s Canon Shoults, Andrew Gilbert and John Gorman represented the landlord, Rialto.
- Ergotect Corp. renewed its 24K SF lease at 5200 East Grand Ave. in Dallas. Holt Lunsford Commercial’s Josh Barnes and Canon Shoults represented the landlord, Frontier Equity.
Transwestern completed these leases totaling 140K SF.
- Baker Distributing Co. leased 84K SF of industrial space at Park 20/360, 2500 East Arbrook Blvd., in Arlington. Transwestern’s John Brewer and Joe Rudd represented the landlord, Ridge Development. Tenant Real Estate Advisors’ Jordan Christensen represented the tenant.
- Summit Midstream Partners leased 24K SF of industrial space at Park 20/360, 2500 East Arbrook Blvd., in Arlington. Transwestern’s John Brewer and Joe Rudd represented the landlord, Ridge Development.
- AutoTrex Parts leased 14K SF of industrial space at 2727 Premier St. in Fort Worth. Transwestern’s Frank Jester represented both the landlord and the tenant.
- Iron Grind LLC leased 12K SF of retail space at 3541 Alta Mere in Fort Worth. Transwestern’s Alex Bryant represented the tenant.
- One Stop Printing leased 6K SF of office space at 2904 Cullen St. in Fort Worth. Transwestern’s Grant Huff represented the tenant.
KDC broke ground on Independent Bank Group’s new corporate headquarters at McKinney Corporate Center Craig Ranch. Rogers-O’Brien Construction Co. will build the 165K SF headquarters building designed by SmithGroupJJR.
HFF secured financing for a 16-building industrial portfolio totaling 1M SF in Dallas and Oklahoma City on behalf of ATCAP Fund I L.P., an investment fund managed by ATCAP Partners. HFF’s Brian Carlton spearheaded debt replacement for the new owner.