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This Week's Dallas-Fort Worth Deal Sheet

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FoodHall at Crockett Row, set to open Dec. 7 at 3000 Crockett St. in Fort Worth, has signed new vendors.

This Week's Dallas-Fort Worth Deal Sheet
Rendering of FoodHall at Crockett Row

The 16K SF food hall is the first of its kind in Fort Worth. Its lineup includes:

  • Knife Burger from chef John Tesar. This will be centrally located in the food hall and will serve cocktails, wine and beer.

  • Butler’s Cabinet from chef Joshua Harmon, a deli and marketplace.

  • Abe Froman’s of Fort Worth from chef Victor Villarreal, a pizza and sausage concept.

  • Not Just Q.

  • Rollin’ n Bowlin’, Fort Worth’s first açaí bowl-focused establishment. It is transitioning from a food truck to brick-and-mortar.

  • Press Waffle Co.

  • EB2, serving Mexican street food.

  • The Dock, which started as a Dallas food truck serving seafood.

  • Shawarma Bar, with Mediterranean street food.

  • Aina Poke Co.

  • Gigi’s Cupcakes

EXECS

Tara Green joined OJB Landscape Architecture as principal of program development in a new division focused on activation of spaces. Green was formerly president of Dallas' Klyde Warren Park and has experience in programming spaces to make users feel engaged, and business plans for parks and civic projects.

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Tara Kempfer joined Pinnacle Financial Partners as a senior vice president and credit adviser for the firm’s Freddie Mac small-business loan program. She is based in Dallas. Kempfer was an underwriter with Freddie Mac Small Business Loans in Dallas.

SALES

This Week's Dallas-Fort Worth Deal Sheet
New Orleans Apartments, Carrollton, Texas

Greysteel’s Doug Banerjee, Boyan Radic, Andrew Mueller, Andrew Hanson, Scott Simon, Daniel Hartnett and Jack Stone arranged the sale and financing of New Orleans Apartments, a 68-unit multifamily property in Carrollton.

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Frontier Equity purchased six parcels totaling 60K SF on 21.2 acres off Bank Street in Southlake. Holt Lunsford Commercial’s Donnie Rohde represented the buyer. Glacier Commercial’s Steve Schrum and Andrew Beckman represented the seller, DARR Equipment.

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Fifth Corner purchased 2836 Bledsoe in Fort Worth. The 11K SF property is fully leased by the original Rodeo Goat restaurant and marketing firm Global Prairie. This is Fifth Corner’s fifth acquisition since closing its initial capital commitments in February; it bought 2800 Bledsoe (adjacent to this latest buy) in June. Combined, the buildings are 33K SF of improvements and 4,600 SF of patio space on 1.6 acres.

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Shelly Slater Strategies purchased an 11K SF property at 2403 and 2320 Farrington St. in Dallas. Peloton Commercial Real Estate’s Chris Wright represented the buyer, and Mercer Co.’s David Guinn represented seller Silverton Moon Real Estate Partners.

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An undisclosed buyer purchased Matlock Oaks, an 87K SF grocery-anchored retail center at 808 SW Greens Oak Blvd. Weitzman’s Kevin Bukus represented the seller, and The Michael Group’s Michael Uhm represented the buyer.

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American Landmark purchased Legends at Ridgeview Ranch, a 480-unit garden-style multifamily property in Plano. It will implement $3.7M in capital improvements. This is American Landmark’s third acquisition in the Dallas metro. The 19-year-old property was 96% occupied at time of sale.

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This Week's Dallas-Fort Worth Deal Sheet
Plano Crossing Building 2

SHOP Cos.’ Tim Axilrod and Tommy Tucker closed the sale of two retail properties:

  • Plano Crossing Building 1: A 12K SF retail center composed of all restaurant tenants at the intersection of Highway 121 and Ohio Drive in Plano. It was 100% leased at the time of sale. SHOP represented the seller, Black Lion Investment Group. The buyer was an undisclosed Texas limited liability company. SHOP is also marketing for sale Black Lion Investment Group’s Plano Crossing Building 2 in Plano and Woodmont Plaza North shopping center in Fort Worth.

  • Mansfield Commons: A 28K SF shopping center in Mansfield. The property was 100% leased at the time of sale. SHOP represented the buyer, an undisclosed Texas limited liability company. Matthews Real Estate Investment Services’ Scott Henard and Peter Smelko represented the seller.

LEASES

Stream Realty Partners completed the following leases:

  • Newsom Designs LLC extended its 119K SF lease at Valwood Park 9, 13780 Benchmark Drive in Farmers Branch. Stream’s Blake Kendrick represented the landlord, DRA Advisors. Landry Commercial represented the tenant.

  • CID Resources renewed its 114K SF lease at Freeport VI, 601 South Royal Lane in Coppell. Duke Realty Corp. represented the landlord, Texas Dugan L.P. Stream’s Ryan Boozer represented the tenant.  

  • Wilson Office Interiors extended its 56K SF lease at Space Center Industrial Park, 5017-5199 Pulaski St. in Dallas. Stream’s Drew Feagin and Hanes Chatham represented the landlord, DRA Advisors. JLL represented the tenant.

  • LeSaint Chemical Logistics leased 54,500 SF at 4650 Simonton Road in Farmers Branch. NAI Robert Lynn represented the landlord, Vivian Jones Mgmt. TR. Stream’s Eric Crutchfield represented the tenant.

  • Badger Paperboard Texas Inc. leased 39K SF at International Logistics Center, 3701 South 20th Ave. at DFW Airport.  Stream’s Blake Kendrick, Cannon Green and Sarah Ozanne represented the landlord, Cabot Properties. CBRE represented the tenant.

  • EON Express Cabinetry leased 26K SF at 1800 Northpark in Fort Worth. Stream’s Seth Koschak and Forrest Cook represented the landlord, 1800 Northpark LLC.

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Holt Lunsford Commercial completed the following leases:

  • Blue Shamrock Inc. leased 11K SF at 2707 Realty Road in Carrollton. HLC’s Andrew Gilbert, Josh Barnes and Ben Wallace represented the landlord, Stonelake Capital Partners. CBRE’s Michael Chiocca represented the tenant.

  • Spartan Manufacturing leased 10K SF at 715 North Glenville Drive in Richardson. HLC’s Josh Barnes and Ben Wallace represented the landlord, Circle Industrial.

  • Elite Fulfillment Solutions renewed its 43K SF lease at 5200 East Grand Ave. in Dallas. HLC’s Josh Barnes and Canon Shoults represented the landlord, Frontier Equity. Younger Partners’ Carter Crow represented the tenant.

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Tactical Fleet Services subleased 30K SF of industrial space at 4122 Billy Mitchell Drive in Addison. Whitebox’s Grant Pruitt and Evan Hammer represented the tenant.

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Betson Industries expanded by 4,425 SF to 26K SF at 1137 Conveyor Lane in Dallas. Mercer Co.’s Jeremy Mercer represented the tenant, and Paladin Partners’ Brett McMillan represented landlord Vantage Cos.

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Hartman Income REIT closed the following leases:

  • PSN Services leased 10K SF at 1707 Market Place Blvd. in Irving. Hartman’s Derek Alexander represented the landlord in-house, while Search Commercial H&O Real Estate’s Darryl Cothron represented the tenant.

  • Travel Group LLC renewed 14K SF at 8111 LBJ Freeway in Dallas. Hartman’s Jessica Cyphers represented the landlord in-house.

  • Yogesh T. Patel, D.D.S. PA renewed 14K SF and expanded by 1,537 SF at 12655 North Central Expressway in Dallas. Hartman’s Jessica Cyphers represented the landlord in-house. Rubicon Representation LLC represented the tenant.

DEVELOPMENT

This Week's Dallas-Fort Worth Deal Sheet
Rendering of Frisco Medical Pavilion

Caddis broke ground on the 35K SF multi-tenant Frisco Medical Pavilion in Frisco. The Class-A healthcare building will have nine suites at 12950 Dallas Parkway, due north of the under-construction 80-bed Texas Health Frisco Hospital. A Texas Health Physicians Group internal medicine clinic will be the anchor tenant when it delivers in the summer. Novel Builders and Corgan are the development team.

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JPI broke ground on Jefferson River East, a 400-unit multifamily property along the Trinity River in Fort Worth. The property is at Oakhurt Scenic Drive and East Belknap Street, adjacent to Riverside Park. The senior lender for Jefferson River East is Fifth Third Bank; CrossHarbor Capital Partners is serving as the preferred equity provider.

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Hunt Cos. and the city of Richardson are building an Art Park at Greenville and Alma. The park will be adjacent to new multifamily high-rise the Mallory, and will include an iconic piece by local artist Ed Carpenter named "Micro Macro Mojo," a 70-foot-high piece that celebrates the history of technology in Richardson. Its location will make it the gateway into Richardson. Hunt deeded the land back to the city and contributed another $200K in funding for the landmark art sculpture to enable the Art Park to happen. This public art installation corresponds to the goals set for the city's Public Art Master Plan adopted in 2015.

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Transcontinental Realty Investors Inc. and Abode Properties opened Terra Lago apartments in Rowlett. The 451-unit Class-A mid-rise multifamily community is along Scenic Drive in the far eastern portion of Rowlett and has water frontage along Lake Ray Hubbard.

FINANCING

Texas Municipal Retirement System approved the formation of a strategic relationship with Transwestern Investment Group, involving a $250M commitment to multiple real estate investments managed by TIG. The investments will include discretionary vehicles and separately managed accounts investing in core, core-plus and value-add strategies in major markets across the U.S. targeting industrial, multifamily, office, retail and healthcare.

THIS AND THAT

Texas Central named Spanish train operator Renfe as the Texas high-speed train project’s strategic operating partner.

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Kevin O’Neil and Mark Allyn, who each have more than 30 years of diverse commercial real estate experience, have launched Fidelis Healthcare Partners. Fidelis Healthcare Partners will focus on developing and acquiring medical properties on and off campus for preferred client relationships. As an affiliate of Houston-based Fidelis Realty Partners, the new venture will also leverage that firm’s retail portfolio to capitalize on the growing trend toward the “retailization” of healthcare. FHP has formalized an investment program with Bentall Kennedy for its projects.

Related Topics: Food Hall