This Week's Dallas-Fort Worth Deal Sheet
Colleyville-based Urban Air Adventure Park is breaking ground on a 31K SF facility at Summer Creek Station, a 26-acre retail development in south Fort Worth at the southeast corner of Sycamore School Road and Chisholm Trail Parkway/Highway 121.
The indoor park, which will open this fall, will be an entertainment anchor for Summer Creek Station and serve as a prototype for the company's future expansion across the country. Transwestern Retail Managing Director Steve Williamson and Senior Vice Presidents Larry Jordan and Mason Bishop represented the developer, Wilson & Stonaker. Catherine Gibbons and Brad Struck of esrp represented Urban Air. An existing Walmart Neighborhood Market anchors Summer Creek Station, but there are opportunities on several outparcel pad sites for additional anchor tenants, retail and restaurants. The site is shovel-ready, with all utilities, cross-access drives and detention recently completed by the developer.
The Summer Creek Station trade area is seeing significant growth spurred by the completion of the Chisholm Trail Parkway, evidenced by Walton Homes purchasing 2,000 acres for 5,000 planned single-family homes. Other development in the area includes the 800-unit The Dylan apartment complex, a master-planned community on the 426-acre Pate tract and a new 80-acre campus of Tarleton State University.
Nathan Sims joined Burns & McDonnell as an aviation systems project manager as the company continues to grow its aviation team in Dallas-Fort Worth.
Sims will focus on systems integration, wireless networks, baggage handling program management and design services for airlines, airports and other aviation clients across the country.
Momentum Glass, a turnkey glass and glazing company formerly known as Momentum Exterior Systems, hired two DFW-based market executives, Kyle Gaskill and Jared Parker, and obtained dedicated warehouse and office space. Momentum's DFW facility will be at 8925 Sterling St. in Irving, just north of DFW Airport.
Gaskill, who was named general manager, has more than a decade of experience in all aspects of the glazing industry. Parker, who was named business development manager, has more than 12 years of experience in the glazing industry.
CIP II Renner LLC sold a 122K SF, two-story office building at 1410 East Renner Road in Richardson to B.H. Management. Stream’s Jamie Jennings, James Mantzuranis, Andrew Rabinovich and Tim Terrell represented the seller, an entity affiliated with Champion Partners in Dallas.
Westwood Group Development No. II L.P. sold its 7,800 SF building at Grapevine Station, 1058 Texan Trail in Grapevine, to JPA Capital. KW Net Lease Advisors' Kenneth Wimberly represented the seller. Stream's Hanes Chatham and Tyler Maner represented the buyer.
Reserve Capital Partners acquired its third office property in the last six months. The three-building Denari Office Park, at 15150 Preston Road, will be renamed Preston Grove. Reserve Capital Partners will manage the buildings and has hired Holt Lunsford to market and lease the building.
Darling Ingredients is trading locations in Las Colinas. After three decades in 59K SF at The Overlook, 251 O’Connor Ridge Blvd., it is moving to 95K SF in MacArthur Center I, making it the sole tenant at 5601 North MacArthur Blvd.
MacArthur Center I, recently renovated, was acquired in the fall of 2016 by Massachusetts-based private equity firm Brookwood Financial Partners as part of a $54.5M portfolio buy.
Darling Ingredients will relocate to MacArthur Center I in December. Transwestern principals Matt Hurlbut and Nathan Durham represented Brookwood Finance.
Camden Homes leased 12K SF of office space at 12801 North Central Expressway in Dallas. NAI Robert Lynn's Kent Smith and Justin Utay represented the tenant. Sooner Management's Mark Jordan and Scott Florsheim represented the landlord.
In Charge Electrical Services leased 14K SF of industrial space at 501 West Valley Ridge Blvd. in Lewisville. Lee & Associates Dallas/Fort Worth's Mark Graybill and Colton Rhodes represented the landlord, Denkmann Associates, and Colliers' Liam Logan represented the tenant.
PGM of Texas LLC leased 24K SF at 630 Avenue K in Grand Prairie. Luke Davis and Sarah Ozanne with Stream Realty Partners represented the landlord, DRA Advisors.
Lennox Industries Inc. leased 11K SF at Heritage Business Park 8, 1080 South Kimball Ave. in Southlake. Stream's Blake Kendrick, Ryan Boozer and Sarah Ozanne represented landlord Prologis. Anderson Commercial Real Estate Services' Andy Anderson represented the tenant.
Transcontinental Realty Investors Inc., Southern Properties Capital and Regis Property Management recently achieved 95% occupancy in Browning Place.
A Southern Properties Capital-owned office asset, Browning Place is at Lyndon B. Johnson Freeway and Luna Road. The Class-A office complex consists of four office buildings totaling 627,500 SF with amenities that include a restaurant, a bank, on-site management, a 24/7 courtesy officer and a jogging trail. The property is in the Mercer Crossing mixed-use development that will include office, single-family and multifamily residential, hotel and retail.
THIS AND THAT
Engineering firm JQ launched its second annual Day of Service initiative. Employees may sign up for a Day of Service each quarter, and, as a group, are able to choose the community organization that is important to them. JQ’s actual Day of Service varies by each nonprofit organization’s needs and typically occurs during February, May, August and November of each year. For May 2018, JQ’s community service committee selected the following nonprofit organizations:
- JQ/Austin office — Central Texas Food Bank
- JQ/Houston office — Casa de Esperanza
- JQ/Lubbock office — High Point Village
JQ’s other offices and corresponding Day of Service activities will occur in June.