Fort Worth City Council voted 7-1 to approve a $20M economic incentive for the development of The Outlets of Alliance, a JV between The Woodmont Co and AIL Investment, an affiliate of Ross Perot Jr.’s Hillwood Properties.
The 300k SF shopping mall (rendered here) is planned for the east side of I-35 in north Fort Worth.The incentive is a grant of 85% of the city's one-cent sales tax if the project reaches $100M in investment.
EXECS
Paul Wittorf will take over in June as executive managing partner of Transwestern’s Dallas-Fort Worth office. He is currently serving in the company’s Houston office.
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Monogram Residential Trust appointed Keven Sticher SVP of information technology and Sally Matheu as regional VP.
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NewQuest Crosswell promoted Terry Parker to EVP.
LEASES
Marine Harvest leased 104k SF of industrial cold storage at 1049 Ave H in Arlington. Lee & Associates’ Mark Graybill repped the landlord, GLP. Colliers International’s Ward Richmond repped Marine Harvest.
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Respiratory Sleep Solutions leased 24k SF in O’Connor Ridge at 4545 Fuller Dr, Suite 100, in Irving. Hudson Peters Commercial's Cincha Kostman repped the landlord. Rubicon Representation's Kyle Jacobs and Daniel Miller repped the tenant.
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Bollore Logistics leased 27k SF of new, Class-A industrial at the DFW Airport at 1200 Mustang Dr in Grapevine. Bollore Logistics was repped by Cushman & Wakefield’s Blake Anderson and Chris Hillman.
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Alleare Consulting renewed its lease in Park Creek Place at 3625 North Hall. Rubicon's Charlie Ott repped the tenant. Cushman & Wakefield’s Clint Madison repped the landlord, Park Creek Place LLC.
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Condon Thornton Sladek leased 10k SF of office space at 8080 Park Lane (pictured) in Dallas. Cushman & Wakefield’s Mike Wyatt, Billy Gannon, Trey Smith and Ward Eastman negotiated.
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The Dallas Firefighter’s Museum leased 10k SF at 1606 S Barry Ave in Dallas. Lee & Associates’ Corbin Blount negotiated with Holt Lunsford Commercial’s Josh Barnes.
SALES
KP-Krypon purchased a 48k SF industrial building at 5151 Mercantile Row. Mercer Co’s Jeremy Mercer and Bates & Myers’ Floyd Bates brokered.
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Goff Capital partnered with Long Wharf Real Estate Partners to purchase the Awalt Building, a historic building in Dallas’ West End entertainment district.
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Stockdale Investment Group sold a 10k SF retail center at 2633 McKinney Ave in Dallas. The buyer was an institutional investor. DuWest Investment Services’ Will Walters brokered the sale.
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Investor Villa Creek Drive LLC snapped up a 161-unit apartment complex at 2835 Villa Creek Dr in Farmers Branch. CBRE’s Chris Deuillet brokered.
DEVELOPMENT
A new 15-story, 295-room Hyatt Regency Hotel will be built at Frisco’s Stonebriar Centre. Frisco City Council approved an agreement April 5 to purchase the hotel’s 50k SF conference center for $10.5M.
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Carrollton-based Atlantic Hotels Group and Civitas Capital proposed a new 256-room Marriott on 3.6 acres just east of the Dallas Galleria.
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DataBank selected Alliance Architects to perform shell and interior design services for the expansion of the company’s facility in Richardson. It is one of the few multi-tenant, top-tier co-location data center facilities in the state. The 16k SF expansion will feature technical areas, offices and customizable storage space.
FINANCING
NJ-based Silver Arch Capital Partners loaned Geyer Morris Co, a Dallas-based development group, $12.6M for the development of an 81-acre retail development in Mansfield.
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Old Capital provided a non recourse $1.6M bridge loan to assist a local ownership group rehabilitate its recent purchase of Villa Creek Apartments in Farmers Branch. Old Capital also provided a bridge loan for the rehabilitation of the Shady Creek Apartments in Azle.
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