This Week's Dallas-Fort Worth Deal Sheet: Work Begins On Industrial Facility Near DFW Airport

Leon Industrial broke ground on 161 Airport Center, a Class-A industrial project on Highway 161 in Irving, a property it calls “the best piece of land in the world.”

The 118K SF building will feature 32-foot clear height, LED lighting, early suppression fast response sprinklers, outside storage availability and a 130-foot truck court. The project is scheduled to deliver in late summer. 

Leon Capital Group founder and CEO Fernando De Leon said in a release that it was investing in prime property “near the largest logistical hub in the world — DFW Airport.”

“We may be standing on the best piece of land in the world,” he said at the groundbreaking ceremony. 

Stream Realty Partners’ Sarah Ozanne and Mac Hall will handle leasing of 161 Airport Center.

Pross Design Group Inc. is the architect on the project, Peinado Construction is the general contractor, Kimley-Horn is the civil engineer, and American National Bank of Texas is the lender.

PEOPLE

Colliers added Jack Crews as executive vice president in its Dallas-Fort Worth office. Crews previously held senior roles at firms such as JLL, Trammell Crow Co. and HFF. 

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K2 Construction hired Mike Dement as director of business development. Dement brings more than 20 years of Dallas commercial real estate experience to the firm, where he will oversee K2’s strategic planning and client services efforts.

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Knightvest Capital appointed Madison Tappan its chief investment officer. Tappan will oversee Knightvest's acquisition strategy and lead efforts to expand the firm's multifamily portfolio in key Sun Belt markets. Tappan previously served as managing director of acquisitions for the firm. 

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Perkins & Will named Vandana Nayak managing director of its Dallas studio. Nayak previously led the firm’s education practice in the Southwest region. She succeeds Tom Reisenbichler, who will continue to oversee business strategy and performance as regional director for the Southwest. Nayak has more than 25 years of experience planning and designing education projects across North America.

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Suffolk hired Evan McKee as the new chief operating officer for the company’s Dallas-Fort Worth team. McKee will focus on expanding Suffolk’s portfolio across commercial, higher education, institutional and healthcare projects. McKee has more than 25 years of experience in the construction industry and joins Suffolk from The Whiting-Turner Contracting Co. 

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Hotel management company Remington Hospitality added Charlene Nigaglioni-Gang as its new vice president of sales for the Caribbean and Latin America. Nigaglioni-Gang will lead sales initiatives to drive market penetration, enhance brand partnerships and maximize revenue opportunities for Remington’s expansion into the region. Nigaglioni-Gang joins the company from Raffles Hotels & Resorts.

SALES

Marcus & Millichap announced the sale of a privately owned, REIT-managed storage facility in Carrollton. Built in 1996 and expanded in 2001, the more than 114K SF Extra Space Storage facility sits on two adjacent parcels at 2422 Marsh Lane. It includes 143 climate-controlled units, 448 drive-up units, six office suites and 101 uncovered parking spaces. Marcus & Millichap’s Brandon Karr marketed the property on behalf of the seller, a local mom-and-pop operator. He also procured the Dallas-based buyer.  

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Sagora Senior Living added six assisted living and memory care communities in the greater DFW area to its portfolio. The communities are:

• Buffalo Creek Assisted Living and Memory Care at 1329 Brown St. in Waxahachie.
• Laurel Glen at Stephenville Assisted Living and Memory Care at 2305 W. Lingleville Road in Stephenville.
• Martin Crest Assisted Living and Memory Care at 1818 Martin Drive in Weatherford.
• Santa Fe Trails Assisted Living and Memory Care at 402 S. Colonial Drive in Cleburne.
• Stonefield Assisted Living and Memory Care at 2701 Alma Road in McKinney.
• Walnut Creek Assisted Living and Memory Care at 2281 Country Club Drive in Mansfield.

CONSTRUCTION AND DEVELOPMENT 

Pearlmark, in partnership with Falcon Commercial Development, closed on a joint venture to develop the 321K SF Saginaw Distribution Center.

The industrial building in Saginaw will be designed to modern standards as a Class-A tiltwall facility. The facility will offer trailer parking on each end of the building, making it suitable as a single- or multitenant building. The space will be delivered with speculative tenant improvements, including office, lighting and dock packages. 

First United Bank, led by Brandon Brewer and Wes Kerr, provided construction financing arranged by JLL’s Will Mogk. Newmark’s Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Chloie Mercer arranged the equity capital for the development. NAI Robert Lynn’s Todd Hubbard, Michael Newsome, Jeff Jackson and Joe McLiney are leasing the project.

FINANCING

Anthem Development capitalized the development of the 256-unit Anthem Village multifamily community in Lewisville. Located at the intersection of Interstate 35 and Justin Road, the institutional joint venture will break ground in May. The project is scheduled to be completed within 24 months. Colliers International’s Jorg Mast represented Anthem and arranged the financing and joint venture common equity that will be used for the acquisition and development.