SWBC Real Estate will bring a new multifamily development to Craig Ranch in McKinney. The 550 apartments will serve the wave of employees filling the region.
Central Park at Craig Ranch will sprawl over nearly 10 acres in the 2,200-acre master planned community. The area, the Highway 121 Corridor, is projected to produce about 50,000 new jobs in the next 18 months.
EXECS
Centennial Real Estate Co, a national owner and operator of regional malls and shopping centers, named Andrew Galvin SVP and CIO, Jim Davis managing director of national leasing, and Denise Browning and Clay Walton SVPs of national leasing.
LEASES
Professional Packaging Systems leased 101k SF of warehouse space at 1905 110th St in Grand Prairie. Stream Realty Partners’ Cannon Green and Luke Davis negotiated the lease with CBRE.
***
Hail Restore Inc signed a lease for 20k SF at 4834 Reading St in Dallas. Mote & Associates’ Sarah Zafarano repped the tenant while Mercer’s Jeremy Mercer and Landon Broach repped the landlord, 1352 Crampton LLC.
***
Wesco Aircraft Holdings leased a 309k SF industrial warehouse in Northlake. Construction is expected to be complete in Q3 2016. E Smith Realty’s Brad Struck and Jim Hazard repped the tenant.
***
Holiday Warehouse renewed its lease for 31k SF of retail at 2819 W 15th St in Plano. Structure Commercial’s Jeremy Cummings and Eric Deuillet negotiated.
***
Frisco City Council approved a lease for a food truck park at First and Main streets called Frisco Rail Yard. The food truck park, which will have a rail yard theme, is expected to be open by the end of June.
***
MHBT, a division of the Marsh & McLennan insurance brokerage, signed an eight-year lease renewal at 8144 Walnut Hill Lane. The new lease includes a full floor expansion to accommodate the firm’s recent growth. Colliers International's Jim Graham and Tyler Howarth repped MHBT.
SALES
Greysteel arranged the sale of Casa Del Mar, a 59-unit multifamily property in Garland to Casa Del Mar I LLC on behalf of a local private investor. Greysteel’s Boyan Radic and Doug Banerjee repped the seller.
***
Criswell Properties purchased a 31k SF building at 3521 Ave E, East in Arlington. NAI Robert Lynn’s Patrick Embry, Todd Hubbard and Michael Stanzel brokered the sale.
***
Lucky 7 Plaza sold to an undisclosed buyer. Henry S. Miller’s Max Tsai and Peter Kosley brokered the sale of the 51k SF shopping center.
***
A private investor sold Hawthorn Suites, a 98-room hotel to another unnamed private investor. Marcus & Millichap’s Chris Gomes and Allan Miller repped the seller.
***
Silverado Irving sold Silverado, a 184-unit apartment community in Irving to Elmstone Group OP1 for an undisclosed price. CBRE’s Chris Deuillet repped the seller. LS Realty Advisors’ Carolyn Putney repped the buyer.
***
A private partnership affiliated with Orangestar Properties purchased a 56k SF building at 4500 W Eldorado Pkwy in McKinney. Stream Realty Partners’ Jamie Jennings and James Mantzuranis brokered the sale.
THIS AND THAT
Woods Capital Management awarded CBRE an assignment to lease Thanksgiving Tower. The 50-story, 1.4M SF office tower is undergoing a $37M renovation.
***
Vista Ridge Mall's owner, Rouse Properties, defaulted on its $64M loan, and has turned the property over to the lender.
MEA CULPA
Yesterday, EastGroup's new industrial project was incorrectly identified as being in the $5B Mile. The development is in Lewisville.
