Deal Sheet
SALES
LAB Holdings sold the 66k SF III Hillcrest Green at 12740 Hillcrest Rd in Dallas to a local investor. Structure Commercial's Eric Deuillet represented the seller. Trinity Interests' Beverly Heflin represented the buyer.
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Phase One Equities purchased nine acres from Aslan II Lincoln Square West at Lincoln Square West in Arlington. Transwestern's Larry Jordan and Steve Williamson repped the seller and buyer.
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Black Hawk Management purchased the 12k SF 5740 Prospect Ave from KLA Realty. Henry S Miller's Jim Turano repped the seller.
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The Torley family sold a 38k SF tract at Chinn Chapel at Justin Road, in Double Oak for a Bahama Bucks location. Hudson Peters Commercial's Scott Jackson repped the seller. The buyer was represented by Vintage Realty's Rich Muller.
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Henry S. Miller Brokerage EVP Dan Spika completed the disposition of two industrial properties in Lewisville. CADG Mill Street purchased about five acres at the southwest corner of Elm and Mill in the Old Town Center area. MetroCom Properties' Robert Maxey repped the buyer, who plans to redevelop the site. Dan repped an undisclosed seller. In another deal, Dan repped Britestar Group in the disposition of its 24k SF office warehouse on more than one acre at 1210 Metro Park Dr. Lee & Associates' Mary Graybill repped the buyer, Team Taylor Investments.
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Two LLCs, HB Clubview NW and HS Cluster, sold a three-property 622-unit multifamily portfolio to Green Street Partners. The northwest Dallas properties are: the 206-unit Clusters Apartments at 3130 Webb Chapel Extension; the 192-unit Clubview Gardens Apartments at 3333 Webb Chapel Extension; and the 224-unit Northwest Crossing Apartments at 9680 Timberline Dr. Cantrell Co & Partners partner Sam Pettigrew represented seller and buyer. The buyer plans to invest $2M into renovating the trio of properties. United Apartment Group of Grapevine will oversee the upcoming construction, focusing on exterior cosmetic improvements and roofs at all three properties. Arbor Commercial's Anthony Tarter arranged the financing for the 1031 Exchange buyer. Sam also repped the buyer and the seller in the disposition of the 108-unit Oak Creek Apartments at 2710 W Walnut St in Garland to Scott Lagrone Holdings.
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An undisclosed LLC purchased the 31k SF Ennis Plaza and Chili's ground lease at 1012 E Ennis Ave in Ennis from an unnamed partnership. Marcus & Millichap investment specialist Vincent Knipp repped the seller. Marcus & Millichap investment specialist Philip Levy repped the buyer.
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Modjarrad & Abusaad law firm has purchased 11k SF at 212 Spring Valley Rd in Richardson. NAI Robert Lynn's Kent Smith represented the buyer. Hudson Peters' Janice Peters and Michelle Hudson represented the seller.
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Access Logistics sold 80k SF on eight acres at 2001 Timberlake Dr in Arlington to Linron Properties. JLL's Nathan Orbin and Melissa Holland repped the seller. CBRE's Stan McClure repped the buyer.
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Advenir acquired the 256-unit Class-A Advenir@Walnut Creek (formerly named Spyglass) in Mansfield from Kaplan Management Co. Advenir represented itself. Financing was secured by Braden Harmon of Berkeley Point Capital. Institutional Property Advisors' Drew Kile and Will Balthrope represented Kaplan.
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CBRE's Marty Neilon and Jim Whitten worked two sales. Lennox Industries sold eight acres on Waterview Parkway in Richardson to Contour Land Partners. CBRE repped the buyer. The Haines Co's Terry Haines Jr repped the seller. The duo also repped McKinney 18 in the sale of 14 acres at Stacy Road and Alma Road in McKinney. Huffines Communities' Robbie Patman repped the buyer.
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Bright Realty's Britton Lankford and Tim McNutt repped an undisclosed seller in the 1.8-acre purchase for a new RaceTrac in Lewisville at the southwest corner of Hwy 121 Business and FM 544.
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Trident Commercial Partners III purchased a 20k SF building at 1610 111th St in Grand Prairie from Grand Prairie Ventrues. Lee & Associates' Mark Graybill repped the buyer. The seller was repped internally by Sarah Hart.
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SkyWalker Property Partners purchased a vacant 42k SF single-story building at 1715 E. Lamar Blvd in Arlington to add to the Hangover Opportunity Fund portfolio from Iskander & Sons. ReMax Associates Commercial's Mike Nix repped the seller. SCM Real Estate Services' Renee Efimoff is the buyer's broker and property's new leasing agent along with colleague Chris Mendez.
LEASES
Canon Solutions America leased 11k SF at 14241 Dallas Pkwy in Carrollton. Transwestern's Kim Brooks and Fletcher Cordell represented the landlord.
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Alliance Operating Services and Supply Chain Logistics leased 27k SF at 1840 W Airfield Dr in DFW Airport. NAI Robert Lynn's Todd Hubbard represented the tenant. CBRE's Bryan Graham represented the landlord.
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Rudolph Foods Co leased 26k SF at 3615 Pipestone Rd in Dallas from the Billingsley Co. Lee & Associates' Scott Alexander and Ken Wesson represented the tenant. Younger Partners' Carter Crow represented the landlord.
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Southern Shingles leased 46k SF at 1420 S Forum Way in Fort Worth. Holt Lunsford Commercial's Donnie Rohde and George Jennings repped the landlord, Nussbaum Properties. Avison Young's Buddy Turner represented the tenant.
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Ozburn-Hessey Logistics leased 419k SF at 3700 Pinnacle Point Dr in Dallas from MEPT Gateway/Pinnacle Park. CBRE's Ann Huntington repped the landlord. Hillwood's Bates Arnot repped the landlord. The lease is an expansion in an existing building with the tenant now occupying the entire 1M SF building.
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Mimaki USA leased 13k SF in Tristar Tech Center at 8080 Tristar Dr in Irving from Tristar Tech Center. Bradford's Joe Santaularia and Brock Wilson represented the landlord. Bradford's Brendan Smith represented the tenant.
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Cushman & Wakefield worked multiple leases including an 18k SF lease for Frost Bank at 7501 Esters Blvd in Irving. Bob Edge and Mike Gossle represented the tenant and negotiated the lease with the landlord, Operating Engineers Funds. Life Account leased 12k SF at 3102 Oak Lawn Ave in Dallas from Centrum Plaza. Charlie Beck represented the tenant and negotiated the expansion with the landlord. In the last deal, Onasset Intelligence leased 14k SF at 3080 Story Rd in Irving. Charlie and Shannon Johnston represented the tenant. Colliers International's Kevin Brookmole represented the landlord, 3100 Emery.
NEW BUSINESS
Trademark is planning a major expansion of its WestBend mixed-use development in Fort Worth with a four-story office-retail building and a freestanding retail building with construction slated to start Q1. Expansion will complete the 278k SF infill mixed-use project in the University District, directly across from University Park Village. WestBend will include several restaurants on the Trinity Trail with large trailside patios, new public spaces and specialty retailers, and will add a walkable urban experience to the district's existing conventional retail. It will feature 84k SF of additional retail space including a newly signed anchor and 58k SF of Class-A office space. Grand opening is scheduled for spring 2015. Partner in the project is RP Partners.
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HFF sourced a $105M secured credit facility for N3 Real Estate backed by a portfolio of more than 50 net-leased retail assets. The financing comes from a bank syndicate including KeyBank Real Estate Capital, Regions Bank, and Comerica Bank. Key Bank served as the administrative agent and lead arranger with Regions serving as syndication agent. The transaction included a $60M term loan and a $45M revolver. The initial portfolio is fully occupied with an average remaining lease term of more than 11 years. The HFF was led by Travis Anderson and De'On Collins.
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Parmenter Realty Partners awarded Cushman & Wakefield of Texas the exclusive agency leasing assignment for the 1.3M SF Class-A Tower at Cityplace. Ownership recently acquired the trophy property as part of its Parmenter Realty Fund IV portfolio. Cushman's Bill Brokaw, Matt Schendle, and Cynthia Cowen will oversee leasing immediately. The tower is 70% leased.
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CASE Commercial Real Estate Partners merged with Emersons Commercial Management, bringing the combined management portfolio to almost 4M SF of retail centers, office buildings, and industrial properties in 15 states. Emersons Commercial Management creator Richard Webb will oversee the management of the commercial real estate portfolio encompassing property management operations, leasing, and acquisition/dispositions. He joined CASE as a managing director to head the enhanced property management division.
