This Week's Dallas-Fort Worth Deal Sheet: Semiconductor Firm Brings $30M Research Hub To Richardson
Richardson’s hub of technology-focused industries and startups is adding a global semiconductor manufacturer.
Micron Technology plans to move its North Texas offices to the Richardson Innovation Quarter after signing a partnership agreement with the city.
The global semiconductor firm will occupy more than 60K SF of office space at Collins Crossing, located at 1500 N. Greenville Ave. Micron plans to spend around $30M on tenant improvements during its first two years in the space.
“By establishing our product development teams in the Richardson Innovation Quarter, we look forward to tapping into its strong ecosystem of innovation and actively participating in the Richardson community,” Scott DeBoer, Micron executive vice president and chief technology and products officer, said in a statement.
The move will bring 250 jobs to the city and will grow Micron’s research and development capabilities in Texas, DeBoer said.
“The IQ is a hub where engineers, entrepreneurs, and educators come together to collaborate and learn from one another within a shared ecosystem of innovation,” Richardson City Manager Don Magner said in a statement.
PEOPLE
Marcus & Millichap Capital Corp. hired John Brickson as managing director of its Dallas-Fort Worth capital markets advisory team. He will represent multifamily clients in addition to working closely with the company’s Texas investment sales team. Brickson has more than 13 years of financing experience, most recently with McKinney Realty Capital and Old Capital.
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Pond, Robinson & Associates named Michael Raybon and Justin Lia the firm’s new co-presidents. The duo will help the firm expand its asset management support offerings. Raybon has 25 years of experience, and Lia brings a background in transaction and asset management.
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Comunidad Partners appointed Ty Barnes as its new head of investments. Barnes will lead the firm’s acquisition, capital markets and portfolio management strategies.
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Architecture and design firm Corgan added Ian Zapata as director of design. Zapata will work to advance Corgan’s design philosophy while implementing data-driven and sustainable design principles. Zapata will also work to develop the next generation of architects and designers.
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Trademark Property Co. hired Marina Zuza as vice president of human resources. With more than 15 years of experience, Zuza will lead human resources for the company. She was most recently vice president of human resources at Caregiver Inc.
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Trammell Crow Co. promoted Adam Nims to chief investment officer and named Billy Hart chief strategy and underwriting officer. Nims will lead the firm’s investment strategy and oversee its capital markets and strategic development solutions initiatives. He has been with Trammell Crow since 2006. Hart joins the company from CBRE. He will oversee strategic planning and growth initiatives, underwriting and risk management.
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LeaseLock hired Greg Willett as its chief economist. With more than 30 years of experience, Willett will continue assisting owners and operators of rental housing by revealing shifting conditions and their impact on markets. Before joining LeaseLock, Willett was with Marcus & Millichap.
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Remington Hospitality appointed Randy Jones as its chief accounting officer. Jones will oversee the company’s comprehensive accounting and financial reporting operations at both the corporate and property levels. Jones was previously vice president of accounting and corporate controller at Dave & Buster’s.
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Everest Group named Jimit Arora its new CEO, effective Feb. 1. Existing Everest Group CEO Peter Bendor-Samuel will transition to the role of founder and executive chairman while contributing to the firm’s strategic vision and evolution. Bendor-Samuel’s primary focus will be on working with clients to navigate the global sourcing and technology landscape. Arora has been with Everest Group for nearly 20 years and has served as managing partner since January 2024.
SALES
Rosewood Property Co. and Pillar Commercial bought a two-building industrial asset in Plano. The buyers struck a deal with seller and developer Provident Realty Advisors to purchase the 201K SF rear-load facilities. MetLife provided financing for the transaction, though the sale price wasn't disclosed. The buildings at 3700 and 3712 E. Plano Parkway were more than 71% occupied at the time of the sale.
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Investment firm Comunidad Partners acquired the 302-unit Lakeshore at Preston Apartments property at 3700 Preston Road in Plano. The three-story property is a gated community of more than 260K SF for workforce residents earning 80% to 100% of the area’s median income. Its amenities include a lake, pickleball courts and beach volleyball courts. CBRE represented both Comunidad Partners and seller Waterton.
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Serac Capital Partners sold retail center Cooper Oaks Crossing in Arlington to Ledbetter Holdings LLC. The nearly 87K SF Cooper Oaks Crossing was 96% leased at the time of the sale. Cushman & Wakefield’s Kris Von Hohn represented Serac Capital Partners.
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Worldwide Commercial announced the sale of a more than 57K SF value-add medical office building in Plano. Built in 1986, the multitenant property is at the intersection of Independence Parkway and Spring Creek Parkway.
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NorthBridge Realty Holdings sold the 520-unit Yellow Door Storage Northgate in Denton to Extra Space. The nearly 66K SF self-storage facility was completed in 2022 and was nearly 56% leased at the time of the sale. JLL Capital Markets marketed the property on behalf of the seller and procured the buyer. JLL’s Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler represented the seller.
LEASES
Law firm Jackson Walker LLP expanded and extended its lease at KPMG Plaza in Dallas’ Arts District. The expansion gives Jackson Walker an additional floor, bringing its footprint to nearly 148K SF over six floors. Stream Realty Partners’ Matt Wieser, J.J. Leonard and Marissa Parkin represented building ownership, while Jackson Walker was represented by CBRE’s Phil Puckett and Jeff Ellerman.
CONSTRUCTION AND DEVELOPMENT
Plano-based Maranello will build a lifestyle venue for luxury sports car owners. Conceived by Dallas real estate developer and motorsports enthusiast Michael Holigan, the venue will be open year-round to its members and host car shows and special events. The 200K SF facility will be on more than 11 acres at the northeast corner of Ohio Drive and Maple Shade Lane in Plano.
The project will break ground later this year and is expected to be done by spring 2026. The auto garage will feature 79 garage-condo glass doors that open into the facility’s interior. The facility will feature a 13K SF, two-story lounge and a 60K SF open-air space located in the middle of the building for events.
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College preparatory school Fort Worth Country Day completed construction on the $25M Annie Richardson Bass Lower School building. The nearly 33K SF building was designed by architecture firm Lake/Flato, with Hocker Design handling landscape architecture and Linbeck as the general contractor.
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France-based Fonroche Lighting opened its U.S. headquarters at Campus Industrial Park in Fort Worth. The 20K SF facility was designed and built by Fort Worth-based Empire Holdings.
FINANCING
NexPoint Diversified Real Estate Trust and its partner Alamo Manhattan refinanced the 255-key Marriott Dallas Uptown hotel in the Uptown area of Dallas. The $95M financing includes $87.5M in initial loan proceeds used to replace the property's outstanding debt as well as two future-funded earn-out facilities that could provide access to $7.5M in capital. The financing was provided by KKR through its opportunistic real estate credit strategy.
Through interest expense savings, the transaction resulted in around $19M in cash proceeds for NexPoint and Alamo Manhattan. The 14-story hotel, majority owned by NexPoint through AM Uptown Hotel LLC, is located at 3033 Fairmount St. It offers around 13K SF of meeting space and amenities such as a rooftop pool and a ground-floor restaurant.
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Tower Capital arranged $29.5M in construction financing for a 118-unit build-to-rent community in Melissa being developed by a Dallas-based multifamily investment firm. The community will be on about 15.5 acres and feature amenities such as a swimming pool, a fitness center and pickleball courts. Tower Capital’s Kyle McDonough, George Maravilla, David Stull and Noah Schott arranged the financing on behalf of two sponsors.
THIS AND THAT
Dallas-based multifamily developer Price Development Group announced it would become Price Partners. The transition reflects its shift from a long-term hold model to a merchant-build platform designed to drive growth and expansion.
