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This Week's Dallas-Fort Worth Deal Sheet

A Pennsylvania manufacturer is opening its second national production facility, and it selected Greenville, north of Dallas.

This Week's Dallas-Fort Worth Deal Sheet
1001 Ed Rutherford in Greenville, Texas

Chelsea Building Products leased 131K SF at 1001 Ed Rutherford in Greenville.

“North Texas provides a perfect gateway for Chelsea Building Products to one of the fastest-growing regions in the U.S.,” said JLL’s Chris Stout, who represented both parties with colleague Craig Phelps. “A strong labor pool, competitive utility rates and pro-business local and state governments makes this an excellent location for their continued growth.”

The property will be Chelsea Building Product’s second production facility. The first is in Oakmont, Pennsylvania, where the company is headquartered. The property had previously been occupied by a plastic injection-molding company.

Dallas industrial has been booming. So far this year, 13.7M SF of industrial product has delivered in DFW, according to JLL’s Q3 industrial report. That might sound like a lot, but the sector has logged 15.2M SF of positive net absorption, and vacancy is only 6.4%. That healthy number is spurring demand for more, and 23.8M SF is under construction. Manufacturing space like that Chelsea is taking up is incredibly tight, with only 2.9% vacancy. Year to date, manufacturing space has positive net absorption of 713K SF, and 1.9M SF is under construction, JLL reports.

EXECS

Nick Wilhelmson joined Pollack Shores Real Estate Group as managing director of the Southwest region, based out of Dallas. He was previously development director at Alliance Residential and oversaw all aspects of the development of more than 4,000 multifamily units in DFW. Pollack Shores recently entered the Southwest region and is looking to expand throughout Texas. It is repositioning Flats at The Sawyer and Lofts at The Sawyer in Uptown Dallas, its first acquisition in Texas since opening the Dallas office last year.

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Jacqueline Byrd joined Reserve Capital Partners as managing director of property management. She has more than 25 years of real estate experience and was previously vice president of property management for DCT Industrial Trust.

SALES

SHOP Cos. closed the sale of two retail properties:

  • A 12K SF tract in Oak Lawn with a Smoothie King ground lease. SHOP Cos.’ Cameron Burk and Tommy Tucker represented the seller and found the buyer, an individual in Florida.

  • Midway Commons II, a 6,600 SF retail center in Farmers Branch. It is 100% leased. SHOP Cos.’ Tommy Tucker, Tim Axilrod and Cameron Burk represented the seller. Pacific Century Realty’s Alfred Goh represented the undisclosed buyer.

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EcoView Homes purchased 615, 617 and 623 West Commerce St. and 2319 and 2323 Yuma St., a combined 23K SF on 47K SF of land. Davidson Bogel Real Estate’s Scott Lake represented the buyer, and Mercer Co.’s David Guinn represented the seller, API Precision Machining.

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This Week's Dallas-Fort Worth Deal Sheet
9886 Chartwell Drive in Dallas

An undisclosed buyer purchased 9886 Chartwell Drive, a 35K SF industrial building in Dallas. TIG Real Estate Services' Matthew Hickey and Kristin Grammar represented the seller, and Beam Real Estate represented the buyer.

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Nadimi RPA purchased 1610 West Walnut Hill Lane in Irving, a 30,519 SF property. Mercer Co.’s Corby Hodgkiss represented the buyer, and Mercer’s Turner Petersen represented seller Spectra Properties.

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An undisclosed private investor purchased Park Vista Retail, a 17K SF property in Fort Worth. Marcus & Millichap’s Joe Santelli and Matthew Sheard negotiated.

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An undisclosed 1031 exchange buyer purchased South Gate Manor apartments, a 156-unit property in Fort Worth. It will extensively renovate the interior and exterior. Rowan Properties represented the seller.

LEASES

Transwestern signed the following transactions in the Dallas-Fort Worth area:

  • Centurion Service Group signed a new lease for 32,522 SF of industrial space at Prologis Stemmons 11, 151 Regal Row in Dallas. Transwestern’s Timothy Veler represented the landlord, Prologis. Lee & Associates’ Nathan Denton represented the tenant.

  • Nickson leased 20K SF of flex space at 148 Riveredge Drive in Dallas. Transwestern’s Timothy Veler represented the tenant, and Bates & Myers’ Richard Myers and Floyd Bates represented the landlord, Saffaire Investments Inc.

  • L3 Technologies Inc. leased 16K SF of office space at 2610 Observation Trail in Rockwall. Transwestern’s Joe Whitmer and Emily Rankin represented the landlord. JBC Land & Cattle Co.’s Alex Coe and Cresa’s Scott Bumpas represented the tenant.

  • UMC Energy leased 58K SF of office space at Sylvania Industrial Park, 3201 North Sylvania Ave. in Fort Worth. Transwestern’s Todd Hawpe represented the landlord.

  • RNL Consulting leased 25K SF of industrial space at 7300 North FM 51 in Springtown. Transwestern’s Todd Hawpe represented the landlord.

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Gordon Food Services leased 14K SF at 893 Freeport Parkway in Coppell. Lee & Associates’ Ken Wesson and Mark Graybill represented the landlord, GLP. Pinnacle Realty Services’ Ryan Sytsma represented the tenant.

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Progressive Packaging Inc. renewed 25K SF of industrial flex space in Marsh Business Park West, 1050 Venture Court in Carrollton. Bradford Commercial Real Estate Services’ Brock Wilson, Joe Santaularia and Susan Singer represented the landlord, NWP TX TT LLC. Cushman & Wakefield’s Adam Curran represented the tenant.

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Secure Collateral Management leased 22K SF at Lake Highlands Tower in Dallas. The firm is relocating from 9330 LBJ Freeway. JLL’s Blake Shipley, Jay Bailey and Ashley Curry represented landlord Malouf Interests. NAI Hiffman represented the tenant.

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Domtar Paper Co. renewed its 69,577 SF lease at 9001-9015 Sterling St. Holt Lunsford Commercial’s Canon Shoults represented the landlord, Brookfield.

DEVELOPMENT

This Week's Dallas-Fort Worth Deal Sheet
Rendering of University of Texas at Arlington's Science and Engineering Innovation and Research building

AECOM Hunt completed construction of The University of Texas at Arlington’s $125M Science and Engineering Innovation and Research building. The 229K SF building includes a research lab wing and a classroom wing with 900 teaching seats and 12 “research neighborhoods” for targeted research. Page and ZGF were the architects.

Hunt also topped out LVL29, a $100M apartment high-rise in Legacy West, making it Plano’s tallest tower. The 329-unit property will be done next year. Humphreys & Partners handled design.