The Deal Sheet
We were on hand last night as Urban Armadillos (a non-profit group of civic-minded pros who want to create and maintain an urban walking trail in Downtown Dallas) finally launched its app that'll guide visitors to the area's unique landmarks, parks, and urban treasures. (You'll need a separate app if you're looking for actual treasure.)
At The Joule, we snapped Downtown Dallas Inc top dog John Crawford, Dallas City Councilman Adam Medrano, Urban Armadillos co-founder Skyler Baty (IA Interior Architects), Preservation Dallas prez David Preziosi, and Urban Armadillos co-founder Mike Wyatt (Cushman & Wakefield). (Are you looking at this picture... or is it looking at you?) The app is called Pegasus Urban Trails and can be downloaded for free through the App Store. Skyler says the pedestrian walking trail will add to DDI's efforts of creating a live, work, and play environment downtown. Next step is to evaluate skyscrapers, add plaques, and hopefully expand to Uptown.
Venture Commercial’s John Zikos and Chris Booras brokered the lease-sale and assignment of a 52k SF building that has brought a new Studio Movie Grill to the Town Center of Colleyville. The duo repped American National Bank Special Assets in the sale and assignment of two leases on the building to Studio Movie Grill Holdings. Venture’s Larry Leon and Ross McCook assisted in the transaction. The new Studio Movie Grill opened in late May after the completion of extensive renovations to the former Colleyville Cinema.
The State of Texas sold 926 acres along the Chisholm Trail toll road in Fort Worth. Transwestern’s Matt Bilardi and Lester Day represented the undisclosed seller. The duo also repped FWFW Holdings in its purchase of 737 acres off I20 and Hwy 3325 near Aledo/Fort Worth.
New York-based Iliad Properties purchased the 136-unit The Lodge apartments at 6500 Oakland Hills Dr in Fort Worth from William Migneault. CBRE’s Chris Deuillet coordinated the sale.
KDF Independence Properties purchased two acres at the southwest corner of Lebanon Road and Independence Parkway in southeast Frisco for the development of a Primrose Daycare. Henry S. Miller Brokerage’s Tom Grunnah and Kyle Ward represented the buyer. Christie Real Estate’s Doug Ashley and Jen Han Realty’s Jen Han represented the seller, The Independent 121 Partnership.
The Montessori School of Cypress Waters purchased two acres at 2700 Ranch Trail in Irving. Venture’s Clay Mote and Charlotte Cooper represented the seller, Billingsley Co. The buyer was self-represented.
SRC Lumley Road sold 101 acres in Mesquite on I-20 and Lumley Road to Bloomfield Homes. Stratford Group’s Andrew Prine represented the seller and Davey Davis represented the purchaser.
SSJH Mansfield purchased an almost eight-acre site at the southeast corner of Debbie Lane and Matlock Road in Mansfield from Rattikin Exchange Services. The Retail Connection’s Michael Thum and Jeremy Zidell repped the buyer. Reilly Brothers Property Co’s Tommy Reilly repped the seller.
Trammell Crow Hancock joined The Weitzman Group as a VP with the commercial retail division. He will specialize in landlord and tenant rep, with a focus on chef-driven and concept-driven restaurants. Prior to joining Weitzman, he was director of retail development for Billingsley Co.
CONSTRUCTION & DEVELOPMENT
Park Place Dealerships broke ground on a two-story, 91k SF Mercedes-Benz dealership in Arlington on a 16-acre site at I-20 and Beltway Place. The project is expected to be completed in summer 2015. Mercedes-Benz of Arlington will feature a showroom that can showcase up to 16 new vehicles. The multi-million dollar project also will feature a shop with 35 service bays and 10 make-ready bays. This will be the 18th dealership for Park Place Dealerships, which just opened a new Maserati store in Fort Worth earlier this month. Good, Fulton & Farrell has been named the architectural firm for the project with Hill & Wilkinson handling the general contractor duties.
Construction is underway for the new pre-owned auto dealership for Classic of Denton at 4991 S I-35E in Denton. Speed Fab-Crete and its design-build architectural partner, Callahan & Freeman, are performing construction and design services for the project, which includes a new, 13k SF sales and service facility on 10.5 acres. Completion is slated for August.
Transwestern’s Steve Williamson was elected to serve as president of the North Texas Land Council. He is an SVP, managing director of retail services and has been a North Texas Land Council Member for 25 years. The North Texas Land Council was formed in 1987 and covers the seven counties that make up the Dallas/Fort Worth Metroplex. Its membership consists of 50 top land brokers with various specialties within the land discipline. The council meets monthly to discuss market trends and intelligence.
Site Selection magazine named the Fort Worth Chamber of Commerce one of the Top 10 Economic Development Groups in the US for 2013. The Chamber had made the Top 20 list seven times in the last nine years, but due to several large deals in 2013, made the Top 10 list for the first time. The Chamber was honored for securing 14 economic development projects that represent more than 4.9M SF of real estate, $517.5M in new capital investment, and 7,000 jobs. The Dallas Regional Chamber also earned the kudos.