This Week's Dallas-Fort Worth Deal Sheet
Cabot Properties and Stream Realty Partners broke ground on a 160K SF development at Frisco Park 25. PowerSecure Lighting, a division of PowerSecure Inc., will anchor the new Frisco Park 25 Corporate Center.
PSL will occupy 75K SF of Class-A space in the corporate center. No other tenants have been announced.
“We are pleased to have an innovative technology and manufacturing company like PowerSecure Lighting as our lead tenant in the development,” Stream Realty Partners Senior Vice President Bob Hagewood said. “Frisco Park 25 is a great fit for PSL’s plan to combine its lighting division headquarters with distribution space for growing its business.”
“Our team is actively pursuing corporate users to lease the balance of the building. We are bullish on the Frisco market and feel there is a lot of pent-up demand for this product type that we will be able to accommodate,” Stream Realty Partners co-Managing Director and Partner, industrial division, Cannon Green said in a statement.
Construction is underway on the property, and it is expected to wrap up midway through this year.
Dawn Steil was named president of the Terrell Chamber of Commerce’s Economic Development Corp. Steil has been with the Terrell Chamber of Commerce’s EDC since 1998. She also serves on the board of the Texas Economic Development Council, the North Central Texas Economic Development District, the Zoning Board of Adjustments for the city of Terrell and as a committee chair on the Kaufman County Leadership Council.
Public Storage purchased a six-property, Class-A, self-storage portfolio from a joint venture owned by Advantage Storage and Harrison Street Real Estate Capital. Together the properties total 430K SF. JLL’s Steve Mellon and Brian Somoza represented the seller.
A joint venture between Life Care Services and Aspect Investment Partners purchased the Continuing Care Retirement Communities, a six-property portfolio of 1,014 units in Dallas, from Fortress Investment Group. CBRE's Lisa Widmier represented LCS, and CBRE’s Imran Ahmed represented Aspect Investment Partners. CBRE’s Aron Will secured financing on behalf of the joint venture. The properties are:
- Autumn Leaves, 1010 Emerald Isle Drive in Dallas;
- Monticello West, 5114 McKinney Ave. in Dallas;
- Parkwood Healthcare, 2600 Parkview Lane in Bedford;
- Parkwood Retirement Community, 2700 Parkview Lane in Bedford;
- Signature Pointe on the Lake, 14655 Preston Road in Dallas; and
- Walnut Place, 5515 Glen Lakes Drive in Dallas.
CAF Capital Partners purchased The Ranch at Fossil Creek, a 274-unit multifamily property in Fort Worth, from Beachwold Residential. Institutional Property Advisors’ Will Balthrope, Drew Kile and Joey Tumminello represented the buyer and seller.
Bradford Commercial Real Estate Services completed 18K SF of DFW leases and lease renewals.
- Lundberg Enterprises LLC, dba Praesidium, leased 7K SF of office space in Arlington Downs Tower, 2225 East Randol Mill Road in Arlington, from J&F Investments GP. Bradford Commercial Real Estate Services’ Erik Blais and Richmond Collinsworth represented the landlord in the direct deal.
- Garcha Truck & Trailer Service Center leased 7K SF of industrial space at 915 Finn Road in Hutchins from Texas Ginger LLC. Bradford Commercial Services Richmond Collinsworth represented the landlord in the direct deal.
- Inline Network Integration LLC leased 3K SF of office space in Midway Atriums, 14275 Midway Road in Addison, from Saskawa Group L.P. Bradford Commercial Real Estate Services’ Jared Laake represented the tenant. JLL’s Ahnie Sheehy represented the landlord.
- Harish Dand signed a 1K SF renewal and expansion, adding 582 SF of office space in Arlington Downs Tower, 2225 East Randol Mill Road in Arlington. Bradford Commercial Real Estate Services’ Erik Blais and Richmond Collinsworth represented the landlord, J&F Investments GP, in the direct deal.
Transwestern completed five leases and lease renewals totaling 84K SF.
- National Checking Co. extended its lease for 59K SF of industrial space at 2001 Randol Mill Road in Arlington. Transwestern’s John Brewer represented the tenant. Proterra Properties' Chris Bly and Dan Lawson represented the landlord.
- Raymond Harris & Associates Architects renewed its lease for 8K SF of office space at 211 North Record St. in Dallas. Transwestern’s Sanders Thompson represented the tenant. Peloton Commercial’s Sarah Hinkley represented the landlord.
- Reed Wells Benson & Co. renewed its lease for 8K SF of office space at CBS Tower, 12001 North Central Expressway in Dallas. Transwestern’s Duane Henley and Nathan Durham represented the landlord, Catalyst CCT LLC. CBRE’s Clay Vaughn represented the tenant.
- Grandstream Networks Inc. renewed and expanded its lease for 6K SF of office space at Plano Corporate Center West, 2301 West Plano Parkway South in Plano. Transwestern’s David Besserer represented the tenant. Cushman & Wakefield’s Trey Smith and Rodney Helm represented the landlord, Griffin Partners.
- Gregory A. Echt MD PA leased 3K SF of office space at PlazaOne61, 7301 North State Highway 161 in Irving. Transwestern’s Nora Hogan, Tony Shallcross and Jordan Wade represented the tenant. JLL’s Ahnie Sheehy and Jay Bailey represented the landlord, American Fidelity Assurance Co.
NAI Robert Lynn completed two leases totaling 19K SF in DFW.
- MD Engineering L.P. leased 8K SF of office space at 1255 West 15th St. in Plano. NAI Robert Lynn’s Kent Smith represented the tenant. Holt Lunsford Commercial’s James Engels and Holden Lunsford represented the landlord.
- Southern Wealth Management LLP leased 11K SF of office space at 5005 LBJ Freeway in Dallas. NAI Robert Lynn’s Kent Smith and Nick Lee represented the tenant. Stream Realty Partners’ Chase Lopez, Sara Terry and JJ Leonard represented the landlord.
McLane Classic Foods broke ground on its 158K SF headquarters and food processing facility at HighPoint Business Park East.
McLane Classic Foods will be relocating its headquarters and manufacturing facility from Fort Worth, where it has been located since 1992, to Burleson, bringing 40 jobs to the Burleson community and $30M in capital investment. The project is to finish in Q1 2019.
The land just north of Bray Central Drive and Watters Road in Allen is planned to become Gatherings at Twin Creeks, a new senior independent living development with a full amenity center, a private dog park and a bocce ball area. Plans for this development were approved at the Jan. 9 Allen City Council meeting.
THIS AND THAT
The Building Owners and Managers Association announced the local winners of The Outstanding Building of the Year Awards. These buildings will go on to compete for the regional awards.
- Renovated Building – Lakeside Campus, managed by Cawley Partners and owned by Lakeside Campus Partners. Property manager: Teresa Shiller.
- Historical Building – Sharyland Building, managed by Hunt Office Management and owned by Hunt Ross Akard LLC. Property manager: Scott Schutz.
- Suburban Office Park Low Rise – International Business Park, managed and owned by Billingsley Property Services. Property manager: Katy Bennett.
- 100K – 249,999 SF – Legacy Center, managed by Cawley Management and owned by Legacy Hedgcoxe Office Partners. Property manager: Lisa Rutherford.
- 250K – 499,999 SF – Signature Exchange, managed by Americas Capital Partners and owned by Signature Exchange. Property manager: Susan Roberts.
- Over 1M SF – Bank of America Plaza, managed by Peloton Commercial Real Estate and owned by Dallas Main L.P. Property managers: Adam Bernhardt and Lisa Hall.
BOMA also recognized industry professionals who exemplify the highest levels of professionalism with the Dallas BOMA Lone Star Awards.
- Andrew Taylor, Woods Capital Property Management, 2018 Outstanding Member of the Year
- Mary Stocks, Rosewood Court Management and Janet Dempsey, American Restoration, President’s Award
- Bank of America Plaza Management Team, Award of Excellence
- Traci Devereaux, Holt Lunsford Commercial, Senior/Portfolio Manager of the Year
- Kim Telkamp, Billingsley Property Services, Property Manager of the Year
- Jessica Beltran, Cushman & Wakefield, Assistant Property Manager of the Year
- Bretley Roche, Granite Properties Inc., Administrative Assistant of the Year
- Bennie Miles, Cushman & Wakefield, Chief Engineer of the Year
- Isaac Segura, Crescent Real Estate Equities, Assistant Chief/Lead Engineer of the Year
- Gary Johnson, Granite Properties Inc., Building Engineer of the Year
- Charles Kellis, Landmark Protective Services, Allied Member of the Year
- Dan McLaughlin, Facility Solutions Group, Networking & Education Committees, Committee Member of the Year
- Christy Walters, Duke Realty, Industrial Committee, Committee Chair of the Year
- Gala Committee, Outstanding Committee of the Year