This Week's Dallas-Fort Worth Deal Sheet: Former Holiday Inn Holidome To Get New Life In Desoto

A former Holiday Inn with a mini amusement park in Desoto will be reimagined as a boutique hotel.

Dallas-based Pickard Design Studio unveiled designs for the interiors of the forthcoming 148-room Radisson hotel, a reimagining of the former Holiday Inn Holidome. 

The design firm pulled inspiration for the Radisson from the Holidome as well as Desoto’s history and its strong sense of family and community, Pickard Design Studio founder Sarah Pickard said. 

“Throughout the design, our goal was to reimagine a retro landmark to create a warm and modern environment, that not only hotel guests will enjoy, but the local community will engage with using the amenity spaces as places to gather and connect,” Pickard said in a statement.

Amenities at the Radisson will include a bar, a private wine room, an Italian coffee shop, an indoor pool, a kids zone with an arcade area and a library area.

Pickard Design Studio also incorporated and partnered with local artists through Desoto’s residency artist program. 

The hotel most recently operated as the Magnuson Grand.

SALES

AptVest sold 228-unit apartment community The Flats at 183 in Irving. Located at 3328 Willow Creek Drive, The Flats at 183 was built in 1968 and spans nearly 128K SF across 19 buildings. The property has seen more than $4.1M in renovations since 2021, including interior unit upgrades, roofing, landscaping and parking lot resurfacing. Marcus & Millichap’s Nick Fluellen and Bard Hoover marketed the property on behalf of the seller. 

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CenterSquare acquired the 352-unit Sorrel Phillips Creek Ranch apartment community in Frisco. The transaction was the first investment in CenterSquare Value-Added Fund VI. The company plans a value-add renovation program that will include upgrading countertops and cabinets, adding laminate vinyl plank to upper floors and installing a technology package. It will also update the fitness center and tenant lounge area.

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ONM Living sold the Cottages at Summer Creek at 5401 Barlean Ranch in Fort Worth to Stockbridge Capital Group LLC. The Cottages at Summer Creek community is comprised of 196 cottage-style units located on more than 18 acres. The community was fully leased before the sale. All Pro Capital served as the investment partner in the Cottages at Summer Creek, while Berkadia brokered the sale. The gated community offers amenities such as a resort-style pool with cabanas, two pet parks, pickleball courts and walking trails.

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SPI Advisory bought the 416-unit garden-style community Encore 380 Apartments in Aubrey. The property, formerly known as Century 380 Apartments, was acquired as an individual asset from a larger portfolio sale. Eastdil Secured represented the seller. SPI plans to add washers and dryers to all units and make upgrades to the exterior, common areas and amenities of Encore 380, which was built in 2017.

LEASES

Dollar Tree leased a nearly 15K SF freestanding retail building at 5920 W. Park Boulevard in Plano. Weitzman’s Kevin Butkus and Corbin Tanenbaum oversaw negotiations for the landlord.

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Aircraft Custom Interiors LLC renewed more than 19K SF of office/warehouse space in the Quebec Business Center at 3020 Quebec St. in Dallas. Bradford Commercial Real Estate Services’ Brian Pafford represented the landlord, GKI Industrial Dallas LLC. JLL’s Michael Haggar represented the tenant in the deal.

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LLW Enterprises LLC renewed more than 17K SF of warehouse space in Mockingbird Place at 420 Mockingbird Lane in Dallas. Bradford Commercial Real Estate Services’ Pafford represented landlord GKI Industrial Dallas LLC in the direct deal.

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Stealth Monitoring Inc. renewed nearly 15K SF of industrial flex space in Marsh Business Park East at 15182 Marsh Lane in Addison. Bradford Commercial Real Estate Services’ Pafford represented landlord GKI Industrial Dallas LLC. Colliers International’s Grace Bower and Mike Cleary represented the tenant.

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Amaisem Holdings Group LLC leased nearly 15K SF of medical office space at 7150 Greenville Ave. in Dallas last month. Nack Realty's Kelly Lyons and Carley Keiser represented the tenant, while JLL's Austin Barrett and Chris Higbie represented landlord 7150 Dallas Stolley LLC. 

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The city of Richardson entered into a partnership agreement with KLOwen Orthodontics to relocate the headquarters of the digital orthodontic company to the city’s Innovation Quarter. KLOwen Orthodontics will occupy 25K SF at 1703 N. Plano Road in the Cardinal Park development. The company plans to invest nearly $2M in tenant improvements while retaining 46 existing jobs and creating 127 new jobs over the next five years.

As part of the partnership agreement, Richardson will provide a tenant improvement grant requiring a minimum capital investment by the company of $1.4M and a 5-year lease term.

CONSTRUCTION AND DEVELOPMENT

Pinstack opened a 53K SF entertainment destination at 3650 Parish Lane in Westlake. The newly constructed building is adjacent to Hillwood’s Front 44 retail and mixed-use hub at Circle T Ranch.

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JPI broke ground on Jefferson Morningstar, a 373-unit, garden-style multifamily community in The Colony. Jefferson Morningstar will offer amenities like a fitness center, a dog park, coworking spaces and a clubhouse overlooking a resort-style pool. The first homes at Jefferson Morningstar are expected to be available for lease in 2027. The project is JPI’s first partnership with Nomura Real Estate Development Co. JPI also partnered with Yoram Avneri, the original owner of the land. 

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Dallas-based Mycon General Contractors Inc. broke ground on the 203K SF Mesquite 80 Logistics Center industrial warehouse in Mesquite. The firm is collaborating on the project with Cavalry Real Estate Partners and a real estate fund advised by Crow Holdings Capital. Construction of the Mesquite 80 Logistics Center is expected to be completed by December. 

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Hillwood Multifamily broke ground on Harvest House, a 349-unit, luxury multifamily community, in Argyle. Harvest House will be situated adjacent to Harvest Town Center, the retail and commercial component of Hillwood’s 1,200-acre Harvest master-planned community. Community amenities include a resort-style pool, a 24-hour fitness center, automated package lockers, a dog park and electric vehicle charging stations.

The first units at Harvest House are anticipated to be available for lease in early 2026, and the full project is slated for completion by late 2026. The project is a joint venture between Hillwood Properties and Hillwood Communities, with financing provided by Comerica Bank.

FINANCING

Real estate debt platform Lightstone Capital originated a $12.2M loan to Altus Equity Group Inc. to acquire and lease up an industrial asset in Kennedale. The 160K SF property is located at 7406 Mansfield Highway. The six-building industrial asset sits on a 13-acre lot and features new metal buildings.

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IPA Capital Markets, a division of Marcus & Millichap Capital Corp., secured construction financing and a joint venture equity partner for the development of a 279-unit multifamily community in southern Dallas. The team worked on behalf of the sponsor, Corsair Ventures, to arrange the capital stack through an institutional partner and national bank.

Construction is already underway on The Grace at Creekside, which will be located along Old Hickory Trail. Completion and initial leasing is expected in spring 2026. IPA Capital Markets’ Justin Shuart and Travis Headapohl represented the sponsor.

THIS AND THAT

CBRE and the city of Richardson have released a notice soliciting proposals for the redevelopment of Dallas Area Rapid Transit’s Arapaho Center Station at 200 Woodall Drive in Richardson. City officials are seeking a private development partner to develop a transit-oriented, mixed-use development on the 14.5-acre property. The site is a single parcel of land with by-right entitlements that exceed 1M SF.

CBRE’s Josh White, Renee Castillo and Peter Jansen are representing Richardson in efforts to solicit, negotiate and engage a developer. 

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Billingsley Co. changed the name of its Plano office campus at 6111, 6201 and 6275 W. Plano Parkway to The Landing. With the change, Billingsley sold the older assets in International Business Park and transitioned its efforts to the three newest buildings. The campus includes a 10K SF amenity center with a fitness center, a 100-seat conference space and a full-service café, which is coming soon. Billingsley also has plans for three more buildings at the campus.