FROM BIG D TO DC; THE DEAL SHEET
| WDG Architecture Dallas teamed up with its DC office on the Capitol City's largest construction project since the Pentagon in the '40s: the first phase of the GSA-owned St. Elizabeths West Campus, featuring 1.2M SF for a US Coast Guard HQ. | |
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| While we figured the Coast Guard for a water-based roof, its going with a green roof and series of landscaped courtyards. The National Capital Planning Commission approved Perkins & Will's concept design last month. As the architect of record, WDG is working with the construction team led by Maryland-based Clark Construction on Phase 1, touting a $435M price tag. Occupancy is expected in 2013. | |
Sales Transactions Monmouth Real Estate Investment Corp. purchased a 184k SF industrial space at 2000 Luna Road, free and clear of debt, for an undisclosed price. The facility is fully leased to Carrier Corporation, for 10 years under a net lease structure, as its regional distribution building. It’s on 10 acres and was completed in 2009 within the Valwood Industrial Park. HFF managing director Jud Clements and director Robby Rieke marketed the property exclusively on behalf of the seller, Langford Property Company.
Lease Transactions Orion Financial Group renewed 9k SF of office space at 2860 Exchange Blvd. in Southlake. Glacier Commercial Realty’s LeAnn Brown repped the landlord and Bradford's Todd Lambeth repped the tenant. *** Presidential Corporate Campus inked 60k SF in renewals from two tenants in back-to-back lease signings keeping occupancy at 63% for its 135k SF four-building office/warehouse campus, owned by Acquiport DFWIP. Bradford Commercial Real Estate Services SVP Susan Singer repped the Chicago-based owner of the property.
*** Banowsky & Levine leased 5k SF in North Central Plaza III, 12801 N. Central Expressway in Dallas, from Younan Properties Inc. Bradford’s SVPs Melanie Hughes and Sharon Friedberg represented the landlord. Jackson & Cooksey’s Trace Elrod represented the tenant. *** Town Square Financial renewed and expanded its lease for a total of 6k SF at 2601 Network Blvd for its corporate HQ at Hall Office Park in Frisco.
Construction & Development Boston-based idGroup opened a new location at 5215 North O’Connor Blvd. in Irving to meet the needs of the firm’s rapidly growing data center design practice. This office will provide integrated architecture and MEP engineering services, as well as interior design and project management for its clients. In the past 18 months, idGroup has been awarded multiple data center projects across the country including contracts with Thomson Reuters, Digital Realty Trust, UC-Santa Barbara, and the Church of Jesus Christ of Latter Day Saints.
Financing By successfully recapitalizing its Ashford Perimeter asset and selecting JLL as its leasing agent in Atlanta, Behringer Harvard is repositioning its 1.3M SF Atlanta office portfolio to promote enhanced performance in a challenging economy. The portfolio consists of three office properties including Ashford Perimeter, Paces West, and Resurgens Plaza. JLL will assume leasing responsibilities for these properties, which will continue to be managed by Behringer Harvard. JLL’s leasing team includes Kay Younglove, Glenn Aspinwall, and Brooke Dewey. *** The Dallas and Miami offices of HFF arranged $9M in financing for Alta Surf Apartments, a 216-unit multi-housing complex in Myrtle Beach, SC. HFF directors Brian Carlton and Ike Ojala worked on behalf of the Miami-based borrower, Tate Capital Real Estate Solutions, LLC, to secure the seven-year, fixed-rate loan through HFF's Freddie Mac Program Plus Seller/Servicer relationship. The loan was made under Freddie Mac's Capital Markets Execution program and Freddie Mac intends to securitize the loan in the near future. One of Tate Capital's entities acquired the property all-cash in late 2009. Completed in 2007, Alta Surf Apartments is 88% occupied *** The Dallas office of HFF secured $6M in financing for three ground leases totaling 255 acres in California, Indiana and Pennsylvania. Working exclusively on behalf of the borrower, an affiliate of The LCP Group, HFF managing director Mark West placed the 38-month, fixed-rate permanent loan with a Texas-based life insurance company. LCP, headquartered in White Plains, NY, is a private real estate investment banking firm. The three parcels of land are improved with warehouse and distribution facilities leased to an international food company. The Pennsylvania property is situated on 86 acres at 555 Nestle Way in Breinigsville; the Indiana property is located on 118 acres at 2909 Pleasant Center Road in Fort Wayne; and the California property is situated on 50.8 acres at 2 Nestle Way in Lathrop.
Executives on the Move Travis Ewert joined Transwestern’s Tenant Advisory Services team in the Central region. Travis, formerly of PM Realty Group, will specialize in tenant rep in the greater Dallas area. *** Westmount Realty Capital Dallas office relocated to Renaissance Tower, 1201 Elm St. Suite 4242
Awards & Recognitions Frisco Square was selected as the Developer of the Year at the Frisco Chamber of Commerce awards banquet Jan. 29, for its retail and office leasing successes. The project also delivered 282 additional multi-family units. Frisco Square is a mixed-use facility at the southeast corner of the Dallas North Tollway and Main Street, directly across from Pizza Hut Park. |
