A speculative industrial and flex development aims to bring much-needed Class-A commercial space to one of North Texas’ most supply-constrained markets.

Shoal Creek Capital and CamberMark are building the more than 83K SF The Park development in Colleyville. The project is designed to meet growing demand from small businesses, expanding companies, service providers and showroom users seeking flexible industrial space in the Mid-Cities area of the metro.

The Park is scheduled for delivery in the fourth quarter at 6521 Colleyville Blvd. It will feature three buildings with flexible suites designed to accommodate a variety of industrial, showroom and flex users.

“The Park represents a rare opportunity for businesses to secure new Class A light industrial, office and retail space in one of the region's most established and underserved markets,” Citadel Partners partner Mac Morse said in a statement. “With very little new product available in Colleyville, we expect strong interest from companies seeking high-quality, flexible space in an exceptional location.”

Preleasing is underway, with Morse and Citadel Partners’ Paul Clarkson leading the efforts.

SALES

A joint venture between PCCP and RPM Living Investments acquired the 358-unit Truman at Arlington Commons multifamily community at 505 E. Lamar Blvd. in Arlington. The four-story property was built in 2021 and features nearly 5K SF of ground-floor retail occupied by Nehemiah Coffee Co.

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Fogelman Properties acquired the 288-unit The Ovilla multifamily community at 241 N. Overlook Drive in Red Oak. Built in 2023, The Ovilla is 95% occupied and will be managed by Fogelman. The firm will also complete a capital improvement plan that will include clubhouse and exterior amenity updates.

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Investment firm 90Ten acquired two retail properties in Dallas' Bishop Arts and Lower Greenville neighborhoods. The nearly 27K SF property at 2908-2937 Greenville Ave. is anchored by concepts such as Sister, Café Duro and Goodwins, while the nearly 9K SF site at 301-321 N. Bishop Ave. features tenants like Hunky's, Palmieri Café and Simply Bella. 

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Preston Forrest Capital sold the nearly 55K SF industrial flex property at 1518 Navo Road in Aubrey to Masina Investment Partners. Built in 2022, the industrial flex park includes 20 suites on 4.5 acres. Marcus & Millichap's Cole Collins, Adam Abushagur and Davis Cagle marketed the property on behalf of the seller and procured the buyer. 

LEASES

QT Dog LLC renewed its lease for 20K SF of manufacturing and distribution space at 4415-4435 Mint Way in Dallas’ Redbird submarket. Partners Real Estate’s Hanes Chatham Jr., Graham Dressel and Jax Whittington represented the tenant in the five-year renewal. WPI Mint LLC owns the property.

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StreetLevel Investments signed Dick’s Sporting Goods to a 60K SF lease at its 152-acre Village at Gateway mixed-use development in Forney. An opening date for Dick’s Sporting Goods hasn’t yet been announced. Edge Realty Partners’ David Copeland and Ryan Griffin secured the lease and are handling retail leasing and sales at the property. 

CONSTRUCTION AND DEVELOPMENT

Clarion Partners and Falcon Commercial Development broke ground on the third phase of work at Northlake 35 Logistics Park. The new 1.2M SF facility is being built on 67 acres at the northwest corner of Harmonson Road and McPherson Drive in Northlake. Shell delivery is scheduled for October 2027.  

The new building will bring the park to more than 3.4M SF. NAI Robert Lynn’s Todd Hubbard, Rick Medinis and Joe McLiney are handling leasing of the new facility. 

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April Housing, Blackstone Real Estate’s affordable housing portfolio company, closed on its latest resyndication to preserve affordability for an additional 30 years for residents of the 232-unit Skyway Villas affordable housing community at 2000 Skyline Drive in McKinney. 

Through the resyndication process, a communitywide renovation plan totaling more than $19.3M will be completed. Icon Builders will serve as the general contractor, and Benton Design Group will serve as the architect. 

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W Properties plans to build a 252-unit garden-style multifamily community in Melissa on around 12 acres adjacent to Everbloom, the company's 343-unit build-to-rent community. The company expects the project to go vertical by mid-2027.

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A partnership between Admiral Legacy Investments and Foundry Commercial began development of a nearly 153K SF Class-A office building on a 5-acre site in the Mansfield Innovation District. The five-story building will feature Class-A office space alongside flexible coworking environments.

The building’s project team includes BOKA Powell as architect, Wier & Associates Inc. as civil engineer, Moss as general contractor, Stream as leasing representative and Foundry Commercial as property manager.

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The city of Cedar Hill transformed a vacant 2.7-acre site known as the Phillips Property at 104 S. Broad St. in its downtown area into an interim community park designed to generate activity while showcasing the property’s potential for future development. Owned by the Cedar Hill Economic Development Corp., the property will serve as a temporary community gathering space while the developer seeks a permanent mixed-use development.  

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Alliance Residential opened The Breckyn multifamily community to residents at 6300 County Road 124 in McKinney. Managed by Greystar, the project is on track for final completion in January.

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Frisco Station sold 23 acres to Toll Brothers for the mixed-use development’s first luxury single-family residential community. Development is anticipated to begin in spring next year, with the community slated to open for sale in fall 2028.

FINANCING

Susser Bank provided financing for the redevelopment of the former City Inn & Suites property adjacent to Dallas’ Halperin Parks. Demolition of the hotel at 223 S. Ewing Ave. began Aug. 13 to clear the way for Henley Capital to redevelop the site into a mixed-use community incorporating multifamily housing, retail and other uses. 

Susser Bank’s Ben Ray worked closely with Henley Capital to structure and complete the financing. 

PEOPLE

Dallas-based NewcrestImage named Gary Mills to lead its acquisition strategy in the newly created position of senior vice president, acquisitions. He brings more than 45 years of experience in hotel real estate, including a previous stint as vice president, real estate with NewcrestImage from 2015 to 2020.

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Steel Peak, an investment firm focused on industrial outdoor storage properties, hired Eli Ray as acquisitions director to support its expansion into the Texas commercial real estate market. Ray will be based in Dallas and will lead acquisitions and leasing across Steel Peak's IOS platform in Texas. Ray joins Steel Peak from Dalfen Industrial.

THIS AND THAT

Shams Merchant launched Commercial Real Estate Law Group, a firm dedicated to representing investors, developers and private equity firms in their commercial real estate investments and developments in Texas. Merchant previously worked in the Fort Worth office of Jackson Walker and brings more than five years of commercial real estate investment and development law experience to the new firm.

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Stockdale Capital Partners established a new office in Dallas at Crescent Court in Uptown. The expansion marks the Los Angeles-based real estate investment firm’s sixth U.S. office. The Dallas office will serve as a regional hub for Stockdale's investment, development and operating activities as it works to grow its portfolio throughout Texas and the Sun Belt.