Deal Sheet
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| The Dallas office of Holliday Fenoglio Fowler closed the sale (for an undisclosed price) of Westover Village, a 114k SF neighborhood shopping center in the Westover Hills area of Fort Worth. HFF senior managing director Doug Hazelbaker and managing director Ryan Shore led the investment sales team exclusively on behalf of the seller, Amegy Bank. Summit Realty Ventures purchased the site (pictured), more than 41 acres at the NEC of Green Oaks Road and SH 183, adjacent to Shady Oaks Country Club. The property is partially complete and includes 100k SF of shop space and three pad sites totaling 13k SF. The 45% leased property is anchored by a separately owned Target. For Sale Cannon Commercial tapped Jones Lang LaSalle's capital markets division to market Galleria Towers I, II, and III for sale. The more than 1.4M SF trio of Class A office towers is expected to fetch in excess of $300M. Leading the team are managing directors John Alvarado, Jack Crews, and Evan Stone. Built in the 1980s and early 1990s, the Galleria towers range from 24 to 26 stories tall and adjoin the Galleria shopping mall and the Westin Galleria Hotel. The towers are located at 13355 Noel Rd. on the NEC of LBJ Freeway and The Dallas North Tollway. The buildings are 87% leased. Acquisitions Wells Real Estate Funds purchased Royal Ridge V, a 120k SF office property in the Las Colinas submarket, from Brookfield Properties. CBRE's Gary Carr, Russell Ingrum, Eric Mackey and Jonathan Napper represented the seller. *** TA Associates purchased 377k SF of industrial space at 9001-9015 Sterling St. and 5301 Alliance Gateway in DFW Airport from Invesco Real Estate. CBRE's Jack Fraker and Josh McArtor represented the seller. The pair also repped TIAA-CREF in the sale of approximately 2.5M SF of seven multi-tenant Class A core bulk distribution facilities from its national industrial portfolio to CBRE Realty Advisors. *** RMD Property purchased 2007 E. Lamar Blvd. at Governor's Row Offices in Arlington. The two-story more than 5k SF office building is part of a 10-building office complex. SCM Real Estate Services senior leasing specialist Beaux Riley represented the seller. | |
Leases Securus Technologies Holdings leased 59k SF of office space at 14651 Dallas Pkwy. in Dallas from Princeton Partners. CBRE's John Woolsey, Jeff Ellerman, Robert Blount, Searcy Ferguson, and Mike Davis represented the tenant. *** Exco Resources leased 45k SF of office space at 12377 Merit Dr. in Dallas from YPI Park Central Properties. CBRE's Burson Holman,Celeste Fowden, and Blake Shipley represented the landlord and JLL?s Kacy Jones, Steve Thelen, and Jeff Staubach represented the tenant. *** Regus Group - North Dallas leased 19k SF of office space at 5605 North MacArthur Blvd. in Irving from Equastone MacArthur. CBRE's Steve Rigby, Peter Danna, Baron Aldrine, Mike Kay, and Mike Cleary represented the tenant. *** Fresenius USA Manfacturing leased 90k SF of industrial space at 5201 Regent Blvd. in Irving from Prologis Texas III. CBRE's Corbin Crews represented the tenant. *** RPM-TEC LLC leased 67k SF of industrial space at 200 Northpoint Dr. in Coppell from Cabot II - TX1LO1. CBRE's Ryan Keiser represented the tenant. | |
| New Business | |
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| Harbert Management Corp. hired Stream Realty Partners' Ramsey March and Ryan Evanich to lease and manage 5000 Quorum, Quorum Place, and Quorum North (pictured). The three-building portfolio totals more than 450k SF. Kudos The Arlington Landmark Preservation Commission dedicated a plaque Sunday at the Vandergriff Building commemorating the site?s designation as an important local landmark significant to Arlington's history. Located at 255 N. Center St., the site is considered to be the only intact, pre-1930 commercial building in Arlington. Its original use was a Chevrolet dealership before its ownership changed hands from the Vandergriff family to the City of Arlington in 1994, then the Downtown Redevelopment Corp,, to developer Ralph Shelton and lastly to SCM prez Gary Walker in 2003. On July 27, the Texas Historical commission also recognized the site with a Texas Historical Marker. Infrastructure Texas Sterling Construction Co. was awarded a $91.2M construction project—expected to begin in Q2 '11 and be completed in second half of 2013—in Tarrant County. The project includes a 1.7-mile section of eight lanes of tollway, 20 bridges and 15k linear feet of water and storm drainage infrastructure. The project is part of the $1.4B Southwest Parkway/Chisholm Trail Parkway being developed by the North Texas Tollway Authority from I-30 near downtown Fort Worth southwest to U.S. 67 in Cleburne. Names in the News Frank Kittredge was named director of HKS?s Clinical Solutions & Research team, a group dedicated to optimizing day-to-day hospital workflow and operations within the design process. For more than 30 years, Frank has worked in both healthcare architecture and consulting, providing advice to hospitals and academic medical centers. Tom Harvey, former director of CS&R, is now serving as managing partner of the firm's research division, Center for Advanced Design Research & Evaluation. |
