This Week's Dallas-Fort Worth Deal Sheet: Arlington Shopping Center Gets $30M Makeover, New Retailers
The first part of a $30M glow-up for a nearly 20-year-old shopping center in Arlington has already attracted new retailers to the development.
Fairbourne Properties and AEW Capital Management completed the first phase of their renovation of the 715K SF Arlington Highlands open-air shopping center. Dallas-based leasing company Shop Cos. brought Kendra Scott and Pottery Barn Outlet to the center in March, while pottery studio Color Me Mine is slated to open in late spring.
The first phase of the renovation focused on adding walkability and a community gathering space through a new 48K SF public park with meandering pathways that connect the retail quads and a 5,000 SF canopy of lights.
The next phase of the renovation will bring wayfinding signage, additional park amenities and property upgrades by the end of 2025.
Development on Arlington Highlands began in 2007 at the northeast corner of Interstate 20 and Matlock Road in Arlington. Fairbourne and AEW bought the development in 2011.
PEOPLE
CP Group added Christopher “Tex” Cauthen as senior vice president. He will be based in Dallas and lead CP Group’s acquisitions, developments and operations in key Southwest U.S. markets. Cauthen has more than two decades of experience and was previously vice president of acquisitions and capital markets at Harwood International.
***
Logan Shrout was promoted to acquisition manager at ML Realty Partners. He will focus on investment opportunities and growing the company’s Dallas-Fort Worth portfolio.
SALES
Marcus & Millichap arranged the sale of the nearly 48K SF Storage Fit facility in Garland to a DFW-based private capital group. The 140-unit self-storage facility is located at 3701 Dividend Drive. Marcus & Millichap’s Danny Cunningham and Brandon Karr represented the seller, a private investor from the West Coast. The buyer was also secured by Cunningham and Karr.
***
Marcus & Millichap announced the sale of the 152-unit Ashton apartment community in Saginaw. Marcus & Millichap’s Ford Braly, Al Silva and Dylan York marketed the property on behalf of the seller, a private out-of-state investor, and procured the buyer, a local operator. The buyer plans to make select improvements to the property. The 15-building community was built in 1984 and features 15 buildings on 8 acres at 681 N. Saginaw Blvd. Amenities include a clubhouse, a swimming pool, a dog park and barbecue grilling stations.
LEASES
Gruns Nutrition Inc. leased nearly 38K SF of distribution center space at 215 Fairway Circle in Roanoke from Beacon Land Co. Bradford Commercial Real Estate Services’ Todd Lambeth and Luke Clardy represented the landlord, while JLL’s George Curry represented the tenant.
***
Westwood Contractors will leave its corporate headquarters near Fort Worth’s central business district, effective April 1. The company will move to the Chase Bank building at 2001 Beach St. in Fort Worth after nearly 20 years downtown. Westwood will occupy the entire fourth floor of the building, giving it a 60% increase in office space and allowing for future company expansion.
***
Gulf Highway Equipment LLC leased just over 46K SF of distribution center space at 7204 Burns St. in Richland Hills from Ackerson Holdings LLC. Bradford Commercial Real Estate Services’ Luke Clardy represented the tenant, while NAI Robert Lynn’s Todd Hubbard represented the landlord.
CONSTRUCTION AND DEVELOPMENT
Highland Homes and Tellus Group partnered to develop the 190-acre Mirabella residential community in Prosper. Along Custer Road between First Street to the north and Highway 380 to the south, the project is expected to break ground this summer, with home sales to begin in late 2026. Huntington Homes, a division of Highland Homes, will be among the builders for the estimated 285 homes planned for the community.
