This Week's Dallas-Fort Worth Deal Sheet
LISD is expected to sell 251 acres of surplus land, delivering the product as either one complete portfolio or individual assets, Cushman & Wakefield said.
The sale includes 11 properties, ranging from 3.5 to 80 acres, within the school district. One of the major pieces of land sits adjacent to Medical City Lewisville Hospital and houses a 23K SF building, while additional land sits in the city of Flower Mound.
The land comes with a range of uses — from residential to commercial and mixed-use.
Cushman & Wakefield’s Maureen Kelly Cooper, Chris Harden, Ryan Duffie and Michael Thomas are representing Lewisville Independent School District in the sale.
General contractor MYCON named Lou Arrieta vice president of estimating. Arrieta joined MYCON in 2010 and brings more than 30 years of commercial construction experience to his new role. He has handled more than $800M in projects in his career, including retail deals involving IKEA, Tanger Outlets in Fort Worth, Walmart Supercenters, Kroger Grocery Stores, Gander Mountain, LA Fitness and Cinemark Theatres.
Schmidt & Stacy Consulting Engineers Inc. named Matthew Deeke director and corporate secretary. Deeke has been with the firm since 2005.
The 17K SF McKinney Marketplace at 9241 Virginia Parkway and Custer Road in McKinney traded hands. The owner, Malouf Interests Inc., sold the property to a Plano-based LLC. The Class-A retail center is anchored by Sprouts Farmers Market and LA Fitness. Weitzman’s Derek Schuster and Kevin Butkus handled negotiations for the purchaser, while STRIVE’s Jason Vitorino represented the seller.
Minnie’s Food Pantry purchased a 28K SF facility in Plano at 651-661-671 East 18th St. for the nonprofit’s food distribution, volunteer center and resale boutique. Peter Kosley with Henry S. Miller’s retail division represented Minnie’s Food Pantry and Cawley Partners, while Rubican Co. represented the unnamed seller.
Younger Partners announced that Dallas’ iconic Stemmons Towers is on the sales block. The 13-acre property at 2700 Stemmons Freeway features 290K SF across four buildings near the Dallas Medical and Design districts. Younger Partners’ John St. Clair and Trae Anderson represent the seller.
The Roy F. Gaddis Family Trust sold 13,500 SF at 9106 Chancellor Row in Dallas to Maddox Real Estate Holdings LLC. Mercer Co.’s Jeremy Mercer and Turner Petersen represented the seller, while JWJ Investments’ Jim Jones represented the buyer.
Range Road Co. sold 118K SF at 201 Range Drive in Garland to Far East Land Ltd. Charles Lester Realty Advisors handled negotiations for the buyer, while Mercer Co.’s David Wilganowski and Tucker Cason represented the seller.
SJ Irving Property sold three buildings totaling approximately 10K SF at 310 Rogers Road in Irving to Bill McGee and McGee Electrical Services. Henry S. Miller’s Lane Kommer represented the seller.
KBS renewed JP Morgan Chase as a tenant in its Preston Commons office building in Dallas. The leases cover 42K SF. Preston Commons is a three-building, Class-A office development owned by KBS Real Estate Investment Trust III. JLL’s Russell Cosby and Torrey Littlejohn represented JP Morgan Chase Bank.
Iron Horse Flooring, dba PDL Floor Design, leased 14K SF of warehouse space at 4313-4321 Lindbergh Drive in Addison from Kennington Commercial. Bradford Commercial Real Estate’s Brian Pafford and Susan Sing represented the landlord, while Rich Young Co.’s Rich Young represented the tenant.
Legacy Place One at 5800 Tennyson Parkway in Plano inked a lease agreement with First Guaranty Mortgage for approximately 27K SF of office space. Cushman & Wakefield’s Ward Eastman, Trey Smith and Johnny Johnson represented the landlord. The tenant was self-represented.
Ferguson Fire & Fabrication Inc. renewed its 13K SF lease at 10990 Petal St. in Dallas. Holt Lunsford Commercial’s Josh Barnes and Ben Wallace handled negotiations for the landlord, Rialto Capital Management.
CORRECTION, MARCH 6, 6:32 P.M. CST: A previous version of this story incorrectly stated that 62 acres of Lewisville ISD’s land for sale is located in the city of Flower Mound. This 62-acre figure is incorrect. The story has been updated to reflect this change.