The Week in Deals
NEW BUSINESS
Jackson-Shaw started construction on the first phase of the 30-acre, 512k SF Parc Royal. It is scheduled for a Q4 completion. Jackson-Shaw partnered with GID Investment Advisor on the project. Texas Capital Bank provided the construction financing, Mycon General Contractors served as the GC. GSR Andrade Architects is the architect and Halff and Associates as the engineer. Stream’s Blake Kendrick will assist with leasing.
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Stream Realty Partners broke ground on a two-building, 603k SF industrial development in Grand Prairie called RiverPoint Commerce Center. It’s scheduled for a Q4 opening. Stream partnered for this venture with J.P. Morgan Asset Management, advising on behalf of an institutional investor. Stream’s Cannon Green and Matt Dornak will oversee the leasing.
LEASES
Car Wrap City leased 13k SF at 2145 Chenault Dr in Carrollton. 3L Realty Group’s Tim Strandberg negotiated the lease with Capstone Commercial’s Larry Robbins.
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API Systems leased 37k SF at 10575 Vista Park in Dallas. Stream’s Seth Koschak and Ryan Wolcott represented the landlord, DRA Advisors. The tenant was represented by Transwestern’s Joe Whitmer.
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Liquidity renewed its 97k SF lease at 2701 S Shiloh in Garland. Stream’s Seth Koschak and Eric Crutchfield represented the landlord. The tenant was represented by NAI Robert Lynn’s Stephen Cooper and Tom Lynn.
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Williams-Sonoma selected Exeter Property Group’s 822k SF Arlington Commerce Center at 4900 Sherry St as its new DFW regional distribution center. Colliers International’s Tom Pearson and Chris Teesdale represented the tenant. CBRE’s Dave Anderson represented the Exeter Property Group.
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GM Financial leased 22k SF at 220 E Las Colinas Blvd in Irving. The tenant was represented by Red Oak Realty’s Rick Hopwood. Cassidy Turley’s Rodney Helm and Chris Taylor represented the landlords, Parmenter Realty Partners and American National Insurance Co.
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A few weeks ago we got the scoop on the American Eagle Airlines HQ relo. Transwestern principals Alan Harrington and Steve McCoy, along with Troy Baron of Weston Commercial, represented American Eagle. The subsidiary of American Airlines is consolidating seven facilities into a single location at 4301 and 4401 Regent Blvd., in Irving, where it will occupy 150k SF. Cassidy Turley’s Johnny Johnson and Rodney Helm represented the building’s current tenant, Epsilon Data Management. Epsilon will relocate to an office building at 6021 Connection Dr to make room for American Eagle, which is being rebranded as Envoy.
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Fresh Market plans to open at West Bend, the Trademark Property Co mixed-use development on University Drive, which is scheduled to open in early 2015. Fresh Market will be 21k SF.
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J & G Trybus Corp leased 86k SF on Redbird Center Dr in Dallas. NAI Robert Lynn’s Craig Jones and Matt Elliott represented the landlord. E Smith Realty’s Brandt Landry and Sharon Morrison represented the tenant.
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PBI Supply leased 50k SF at 3951 La Reunion in Dallas. NAI Robert Lynn’s Craig Jones represented the tenant. Holt Lunsford Commercial’s John Gorman represented the landlord.
THIS & THAT
NTCAR’s YPF group volunteered at the North Texas Food Bank last weekend. The group of 13 attend handled more than 16,128 pounds of food (which equals 13,440 meals created).
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Cushman & Wakefield partnered with Urban Towers owner, Parallel Capital Partners, to show off the vacant space on the 21st and 22nd floors with a putting challenge. Here’s Jack Fancher and Sarah Savage caddying for Grant Pruitt and Cribb Altman. On the back 9 is Mike Wyatt and Matt Schendle. Luckily, we heard no one yell “Fore!” and we did see the beer girl come by on a golf cart.
FINANCING
HFF announced arranged $34M in financing for West Village working exclusively for the borrower, Phoenix Property Co and Urban Partners. The 10-year, fixed-rate loan through Cornerstone Real Estate Advisers, acting on behalf of an institutional client, will be used to refinance maturing debt on the 124k SF retail portion of the property. The HFF team representing the borrower was led by senior managing director John Rose.
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Metropolitan Capital Advisors arranged a $13M non-recourse refinance loan on the 240k SF Oak Cliff Tower and bank pad in Oak Cliff for a partnership of Dallas-based investors that has owned the property since 2004. The loan proceeds will pay off the existing loan, return equity to the partnership, and fund the expansion of a tenant space. The MCA team of Scott Lynn, Brandon Miller, and Brandon Wilhite arranged the financing with a locally based regional bank.
SALES
Boswell Realty Management purchased 35k SF at 11880 S Shiloh Rd in Dallas. Stream Realty’s Ryan Wolcott and Seth Koschak represented the seller, Al-Sorayai USA. The buyer was represented by KW Commercial’s Robert Creamer.
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Byrd Jessup purchased 69k SF at 1550 Regal Row in Dallas. Stream’s Jason Moser represented the seller, Allied Marketing. The buyer was represented by Bates and Myers Co’s Floyd Bates.
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Inland Real Estate Income Trust acquired the 149k SF Mansfield Pointe Shopping Center in Mansfield for $28M. IREIT Business Manager & Advisor SVP Lou Quilici and Inland Real Estate Acquisitions VP Matthew Tice facilitated the purchase. The center was 97% occupied at closing.
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LA-based Shayan Holdings purchased the 29k SF Lebanon Ohio Center at 4681 Ohio Dr in Frisco from from LandPlan Development Corp. The center is 90% occupied. CBRE’s Jennifer Pierson and Beth Pierson represented the seller.
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J&J Leasing purchased a 30k SF building at 1021 Handley Dr in Fort Worth. NAI Robert Lynn’s Michael Newsome represented the seller. MJT Holdings purchased a 12k SF building at 4200 Murray Ave in Fort Worth. Michael represented the buyer. Transwestern’s Todd Hawpe represented the seller.
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Henry S. Miller Brokerage’s Grant Brodeur represented Children’s Lighthouse Learning Center in the acquisition of an approximately 59k SF building at the northwest quadrant of the Stacy Road and Alma Road in McKinney. This Children’s Lighthouse Learning Center franchise will be operated by Emily Fernando. CBRE’s Marty Neilon represented the seller, McKinney 18.
EXECUTIVE PEOPLE
Robert Aycock joined UCR as EVP. UCR also added Andrew Lehner as SVP and Robert’s son, Andrew Aycock as VP. Prior to joining UCR, the trio worked for Princeton Partners where Robert served as principal.
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Clay Sublett is now the southwest regional manager for Keybank Real Estate Capital’s income property group. He will be responsible for bank originations in the southwest region including offices in Dallas, Denver, and Phoenix.
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Cushman & Wakefield DFW market leader Steve Everbach was named leader of US agency leasing. He will be responsible for leading C&W’s agency leasing service platform in the US.
