The Deal Sheet
HFF Dallas arranged $2.6M in financing for the 36k SF Village at Timarron neighborhood/specialty center in Southlake. Loan proceeds were used to place first-lien debt on the property, which was acquired in April by Timarron Venture.
Working exclusively on behalf of Timarron Venture, a Dallas-based Ltd. assembled by Cencor Realty Services, HFF associate director Travis Anderson placed the seven-year, fixed-rate loan with First National Bank & Trust Co. of McAlester. Located at the southeast corner of Southlake Boulevard and Byron Nelson Parkway, the property is in Southlake's main retail corridor.Tenants include Frost Bank, Spa D'Aroma, Studio A, Nelson's, Adventure Kids, Salon DeMello, Hexter Fair Title Co., Duncan Cleaners and K&C Tailor.
The HFF Dallas office also closed the sale of an 18k SF MOB fully leased to US Oncology Holdings in Lewisville. HFF director Coler Yoakam and managing director Mark West led the investment sales team on behalf of the seller, CC Lewisville MOB LP. A healthcare REIT purchased the property free and clear of debt. The property is located at 2790 Lake Vista Dr. close to I-35 East and State Hwy. 121 in Lewisville. Completed in 2000, the property is leased to Physician Reliance (US Oncology Holdings) on a NNN basis.
Healthcare Management Systems bought the 223k SF Corporate Point office building at 5615 High Point Dr. in Irving to relocate its corporate HQ from New York to Irving. Transwestern's Mike Hardage and Steve Simon represented the buyer.
An undisclosed medical practice purchased a 7k SF office building in Arlington. Colliers International's Eric Goldberg, Matt Thompson, and Phil Rosenfeld in collaboration with Cassidy Turley out of St. Louis, represented the seller, H&R Block. Mohr Partners represented the buyer. The building is located on West Green Oaks in a high-traffic area with surrounding retail such as Kroger, Starbucks, Bank of America, CVS, and Albertsons.
Rudolph Foods Co. sold a 10k SF light industrial building at 2015 Wall St. in Dallas to a local partnership. Bradford Commercial Real Estate Services VP Brian Pafford negotiated the sale.
First Call Pharmacy purchased a 5k SF office building in the Capital Hills Business Park at 2900 W. Story Rd. in Irving. The sale was handled by Laughlin Commercial Realty Group's Matthew Perry-Miller and Harry B. Lucas Co.'s Andy Folmer.
Shahi Group completed its purchase of the former Bedford Plaza Hotel, which sits on four acres on the north side of Airport Freeway at Murphy Drive in Bedford. The 243-room five-story, 128k SF hotel is vacant and has been closed for nearly three years. The Shahi Group is working to renovate the hotel and hopes to re-open it under a national brand.
Three new businesses—Opulent Cakes, Posh Hair Studio, and The Lodge Gentlemen's Barbershop— inked leases at Realty Capital Corp.'s The Village at Colleyville. Realty Capital director of sales and leasing Mark Boone finalized all three.
Transwestern inked three leases including La Familia Distributing's at 1810 Kelly Blvd for 158k SF. Bill de la Chapelle and Brant Landry represented the tenant. IB Roof Systems signed a new lease for 24k SF with Brett Owens and John Fulton repping the landlord, National Real Estate Management. Lee & Associates' Mark Graybill represented the tenant. Fluor Enterprises renewed its lease for 18k SF at Providence Towers with Kim Brooks and Justin Miller repping Fluor. Cushman & Wakefield's Chris Bosley represented the tenant.
Holding firm to Class A penthouse space, McCathern Mooty renewed its 12k SF lease and expanded by 2k SF at Uptown's Regency Plaza in a direct deal with the landlord, Gaedeke Group. The 16-attorney firm is marking its seventh year as the 16th floor tenant at 3710 Rawlins St. Negotiations produced a five-year expansion lease.
Gaedeke VP Brenda Dabliz's latest leasing round also resulted in two long-term renewals for Banner Place at 12770 Coit Rd. Eric A. Liepens & Howard Marc Spector PC and Newman Jackson Bieberstein renewed with Stream Realty Partners' Parker Handlin as its broker.
Bradford Commercial Real Estate Services worked three leases totaling 29k SF.
Regency Centers leased office space in The Shops at Highland Village to H&R Block and Genesis Exploration. H&R Block was represented by Capstone Commercial's Harry Wynne II and Regency was represented by Integrity Commercial's Jennifer Grey.
The Greater Irving-Las Colinas Chamber of Commerce moved its offices and marketing center to the former Bank of America Tower in Williams Square, effective July 26. Located on the northeast corner of O'Connor Boulevard and Las Colinas Boulevard, the new offices will have visitor parking spaces in the front of the building and parking in the adjacent Williams Square west parking garage.
TIG's Michael Grant and Ryan Wolcott represented the landlord, CBREI, in two leases of office/warehouse space:
Michael and Ryan also repped landlord RREEF in an almost 10k SF lease of office/warehouse space at 885 E. Collins, Suite 108, in Richardson to New Life Ministries. Spencer Consulting represented the tenant.
People in the News
Regency Centers names Kelly Smith as consumer marketing manager at The Shops at Highland Village. Prior to joining Regency Centers, Kelly worked for Extra Space Management. She also served for five years as a marketing professional for commercial real estate corporations including GGP and The Rouse Co. at Collin Creek Mall.
The Dallas CityDesign Studio was awarded a $100k grant by the National Endowment for the Arts. Totaling $3M, the 21 grants were given through the Arts Mayors' Institute on City Design 25th Anniversary Initiative (MICD25), which focuses on supporting creative spaces that contribute toward the livability of communities with the arts at their core. Each of the MICD25 projects takes a problem such as isolated neighborhoods or a neglected waterfront and uses the arts to solve that problem. The Dallas CityDesign Studio was created through a donation given to the city in October of 2009 by Deedie and Rusty Rose through The Trinity Trust Foundation. The Dallas CityDesign Studio is focused on connecting the city back to the Trinity River. The design studio is focused primarily on West Dallas and communities near Martin Luther King Boulevard.
Texas was named America's Top State for Business, according to a recent CNBC study that scored each state based on 40 different measures of competitiveness including the cost of doing business, workforce, economy, education, quality of life, technology and innovation, transportation, cost of living, and access to capital. The ranking adds to a growing list of accolades for Texas' business climate. No other state is home to more Fortune 500 companies and Texas is the nation's leading exporting state for the eighth year in a row. Additionally, Texas was recently named the Best State to Do Business by CEO Magazine for the sixth year in a row, and six of Texas' metro areas, including the Metroplex, were listed as America's Recovery Capitals by Forbes and Moody's Economy. Texas has created more private-sector jobs than any other state in the nation over the last 10 years.