Cushman & Wakefield facilitated the sale of two Dallas-Fort Worth distribution centers for the same client in recent weeks.
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Scannell Properties sold the 701K SF Denton Crossing industrial property in Denton and the 335K SF 820 Crossing distribution center in Haltom City in separate deals.
NorthPoint Development bought the Denton Crossing distribution facilities, which include a 281K SF building and a nearly 420K SF building situated on 44 acres. The 820 Crossing facility was sold to Washington Capital Management.
While 820 Crossing generated strong investor interest, Cushman & Wakefield said the Denton Crossing deal offered a rare opportunity for the buyer to acquire a recently delivered, Class-A industrial product with in-place cash flow and immediate upside potential due to existing vacancies.
“The property’s strategic location proximate to I-35 and several significant demand drivers further reinforces the long-term strength of the investment,” Cushman & Wakefield associate Trevor Berry said in a statement. “The transaction also reflects continued investor confidence in the Denton submarket and the depth of demand in both the leasing and capital markets.”
Denton Crossing was completed in 2023 at 600 and 620 S. Western Blvd. The development was 90% leased at the time of the sale.
The 820 Crossing facility at 5301 Denton Highway in Haltom City was also completed in 2023 on 26.7 acres. It was 100% leased at the time of the deal.
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Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke and Emily Brandt represented Scannell Properties in both deals, while Berry also assisted with the Denton Crossing transaction.
SALES
Invesco Real Estate acquired the 122-unit Horizon at Premier build-to-rent multifamily property in Plano. Completed in 2017 on nearly 11 acres, Horizon at Premier is a gated residential community with detached homes. Institutional Property Advisors’ Joey Tumminello, Michael Ware, Drew Kile, Taylor Hill and Jack Windham represented the undisclosed seller and procured the buyer.
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Buchanan Capital Partners purchased the more than 277K SF Churchill Tower at 12400 Coit Road in Dallas' Park Central area. The 12-story office tower was built in 1999 and renovated in 2025. Churchill Tower was 93% leased at the time of the deal to a diversified roster of roughly 50 tenants.
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A joint venture partnership of Hopewell Development and MBK Industrial Properties sold the nearly 106K SF Tristar Business Park Building 2 at 7810 Jetstar Drive in Irving to Blue Ocean TX Industrial LLC. Developed by the JV, the facility features 32-foot clear heights, 140 parking spaces, 10 dock-high doors, two grade-level doors and more than 2,500 SF of office space. Colliers’ Greg Cannon represented the seller, while NAI Robert Lynn’s Mark Miller represented the buyer.
CONSTRUCTION AND DEVELOPMENT
Walmart opened its newest neighborhood market store last week at 3100 E. Cartwright Road in Mesquite. The 45K SF store is the first newly built neighborhood market the company has opened in Texas in almost a decade.
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Greystar opened the Birchway Sanger apartment community near Interstate 35 and Chapman Drive in Sanger. Birchway Sanger features 306 residences, including apartments and cottage-style homes with attached two-car garages.
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Adolfson & Peterson Construction, Barker Rinker Seacat Architecture and the city of Greenville completed construction of two major community recreation projects: the new Greenville SportsPark Center and the expansion and renovation of the Reecy Davis Sr. Recreation Center.
The more than 120K SF Greenville SportsPark Center at 6705 Monty Stratton Parkway features four wood gymnasium courts, two indoor synthetic turf courts and a fitness center with a group fitness studio, locker rooms and an indoor leisure pool.
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Adolfson & Peterson also renovated the 18K SF Reecy Davis Sr. Recreation Center at 4320 Lee St. and added nearly 14K SF with the addition of a new gymnasium, a game room and flexible multipurpose spaces. The renovation also added a new weight room plus enhanced the aerobics room, game room and office spaces. Adolfson & Peterson partnered with BRS Architecture on the projects.
FINANCING
JLL’s Capital Markets group arranged $406M in financing for the 1.2M SF Trammell Crow Center in the Dallas Arts District. JLL worked on behalf of the borrower, Regent Properties LLC, to secure the five-year, fixed-rate, single-asset, single-borrower loan through Wells Fargo and Morgan Stanley.
The trophy office tower was 92% leased to a diverse roster of creditworthy tenants, including major corporations such as Goldman Sachs, Baker & Botts LLP and Prudential, at the time of the transaction. The JLL Capital Markets debt advisory team representing the borrower included Greg Napper, Jordan Buck and Rett Daugbjerg.
PEOPLE
Ward Richmond joined CBRE’s Dallas office as a vice chair with its industrial and logistics occupier leasing team. Richmond has more than 20 years of real estate experience. CBRE also added Cole Hooper and James Ewing as senior vice presidents and Amanda Richards and Keller Strauss as associates. The team previously worked together at Colliers in Dallas.
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Tangram Interiors completed an ownership and leadership transition. Nick Meter, Tangram’s president, led a management buyout, acquiring a significant stake in the commercial interiors firm from the Lozowski family, which will retain a minority interest. Meter was also named president and CEO, succeeding Joe Lozowski, who led the company for 25 years. Lozowski will serve as an executive adviser during the transition, and Lozowski family members remain actively involved in the business.
THIS AND THAT
Plano-based Accelerate Infrastructure Opportunities, an infrastructure site investor backed by CBRE Investment Management, closed on a $450M asset-backed securitization. It’s the company’s second institutional asset-backed securitization issuance in less than two years.
The notes are backed by a diversified portfolio of infrastructure sites supporting digital infrastructure, renewable energy and transportation sectors across 39 states. Accelerate engaged Cantor Fitzgerald as sole structuring adviser and joint placement agent, TD Securities as joint placement agent and Katten Muchin Rosenman LLP as legal counsel.
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Dallas-based Tanenbaum Equity Partners announced the recapitalization of TEP Government Holdings LLC, its nationwide government-leased real estate portfolio. The recapitalization consists of senior debt from Centennial Bank, a preferred equity investment from Eagle Point Credit Management LLC and existing common equity controlled by TEP’s principals, resulting in a total portfolio value of approximately $450M.
The portfolio comprises 98 properties totaling around 1.6M SF across 24 states, leased primarily to 30 federal government agencies. TEP Government Holdings will continue to be managed by TEP, which oversees acquisitions, asset management and investor relations for the platform.
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