Dallas-based Younger Partners bought a fully leased power center in Terrell last week.
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Younger Partners Investments, through affiliate Terrell Younger LLC, acquired the nearly 261K SF Crossroads at Terrell from RealtyLink LLC in a deal that closed Oct. 21. Financial terms of the deal were not disclosed.
The center sits on 29 acres at Interstate 20 and Spur 557, next to a Buc-ee’s.
“Crossroads at Terrell works with today’s financing based on rent growth, stabilized occupancy and controlling expenses,” Younger Partners Managing Director Micah Ashford said in a statement. “Everything else is upside.”
Built between 2019 and 2024, the center’s tenants include Academy Sports and Outdoors, Hobby Lobby, Marshalls and Petco.
Younger Partners’ Kathy Permenter and Moody Younger represented the buyer. Institutional Property Advisors’ Philip Levy and Marcus & Millichap’s Chris Gainey represented the seller. IPA’s Adam Mengacci and Travis Headapohl arranged acquisition financing, which included a senior loan from a regional bank and preferred equity from a national REIT.
SALES
Contract manufacturer Firstex Industries Inc. bought a 22K SF office/warehouse building at 2329 Solona St. in Haltom City through the entity Solona Street LLC. The seller was First Sunday Prop MGMT Group. Firstex plans to move there from Grand Prairie. Bradford Commercial Real Estate Services’ Luke Clardy represented the seller, and Mercer Co.’s Nick Fulton represented the buyer.
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Brixton Capital bought the nearly 121K SF Oak Grove Plaza shopping center at 5190-5250 Highway 78 in Sachse from Nuveen for an undisclosed price. CBRE’s Jim Batjer and Harrison Tye represented both sides, and CBRE’s Michael Cosby and Tom Burns arranged financing for Brixton.
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TruAmerica Multifamily bought the Pavilions, a 636-unit garden-style community in Dallas’ Lake Highlands. TruAmerica did not disclose the seller in the transaction, but Dallas County property records show The Pavilions was previously owned by Bel Vantage Point LLC. The new owner plans to upgrade units, common areas and exteriors at the late 1990s property. JLL’s Greg Toro and Caroline Novak brokered the deal, and JLL’s Annie Rice arranged acquisition financing.
LEASES
SAP leased more than 50K SF at the recently renovated Spectrum Center at 5080 Spectrum Drive in Addison. Colliers’ Billy Vahrenkamp and Dylan Smith represented the software company. HPI Real Estate Services & Investments’ Ben Cuzen and Caroline Hix represented the owner, Acram Group.
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Dallas litigation firm Lynn Pinker Hurst & Schwegmann is leaving downtown for Deep Ellum after signing a nearly 52K SF lease at The Epic, 2550 Pacific Ave. The firm expects to move into its two-floor space in late 2027. Cushman & Wakefield’s Matt Schendle, Zach Bean and Carrie Halbrooks represented owner Westdale, and Stream Realty’s Dan Harris, John Ellerman and Will Langenbahn represented the firm.
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Accounting firm BDO leased more than 25K SF at Harwood No. 14, located at 2801 N. Harwood St. in Dallas, bringing the building to 92% leased, according to owner Harwood International.
CONSTRUCTION AND DEVELOPMENT
Hunt Realty Investments and Prologis formed a joint venture to develop Terrell 20 Business Park, a 780-acre logistics campus in Terrell. The fully entitled site can support up to 11.5M SF of build-to-suit development.
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M&A DevCo bought 50 acres in Prosper for The Reserve at McCasland Farm, a planned community of 96 single-family homesites. Drees Custom Homes and Shaddock Homes are the builders.
FINANCING
JLL Capital Markets arranged a $13.1M acquisition loan for Perceptive Real Estate Equities Inc.’s purchase of Allen Corporate Center, a nearly 83K SF office campus at 740-800 N. Watters Road in Allen. The five-year, fixed-rate, nonrecourse loan came from a life insurance company.
The campus was built between 2005 and 2017 and was nearly 98% leased at closing. JLL’s Todd Sugimoto, Chad Morgan, Luke Rogers, Jalynn Borders and Jenny Barger represented the borrower.
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Affinius Capital originated a $94M loan to Hillwood to refinance three buildings totaling 1.2M SF at Crossroads Logistics Park in Midlothian. The warehouses were built in 2023, and proceeds will support continued leasing. JLL Capital Markets’ Trey Morsbach, John Rose, Jarrod McCabe, Ryan Pollack, Chad Lisbeth and Scott Harbert arranged the loan.
PEOPLE
Matthews hired Michael Tran as senior vice president in Dallas. Tran, who spent more than six years at Colliers, focuses on industrial investment sales, especially small-bay and shallow-bay flex properties.
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Kidder Mathews hired Chris Howard as vice president in its valuation advisory services group in Dallas. Howard, previously a senior account executive at Cost Segregation Authority, has more than 20 years of experience in cost segregation and tax strategy.
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Dallas-based law firm Munsch Hardt Kopf & Harr added Josh Pleitz as a shareholder in its corporate and securities and M&A practices in Dallas. Pleitz has more than 16 years of experience advising public and private companies, private equity funds and institutional investors.
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