Parc 114 Nabs HQ Relo; The Deal Sheet
| Jackson-Shaw shared exclusive news with us on the relocation and expansion of ATM manufacturer Nautilus Hyosung?s US HQ. The firm plans to move from Coppell to Parc 114 in Irving, inking a 94-month, 60k SF lease for office and warehouse space. They'll move in before year's end so maybe a nice poinsettia for the housewarming? | |
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| The proximity of Parc 114 (above) to DFW International Airport and its visibility from SH 114 make the development a perfect location, says JLL VP Forshey Hoobler, who repped Nautilus Hyosung. The site will be used as a primary distribution point for Nautilus? ATMs and for light assembly. On land bordering DFW, Parc 114 is a multi-phased, flex-warehouse development that will ultimately include nine buildings containing nearly 600k SF of space. Earlier this year, Jackson-Shaw broke ground on a spec building to accommodate a 30k SF lease for the US General Services Administration. Parc 114 is a joint partnership development of Jackson-Shaw and ORIX Capital Markets. GSR Andrade served as project architect. The development is exclusively represented for leasing by Stream Realty's Chris Jackson, Blake Kendrick, and Jeremy Kelly. | |
| New Assignments Capital Commercial Investments selected Grubb & Ellis to lease the 228k SF Gateway Corporate Center I and II campus in the DFW Freeport/Coppell submarket. Grubb & Ellis SVPs Chris Wright and Trae Anderson will serve as the leasing agents. Built in 2008, Gateway Corporate Center I and II offer approximately 112k SF and 116k SF of space, respectively. Signage opportunities, visible from I-635, are available. *** Hallett & Perrin selected Jones Lang LaSalle as exclusive tenant advisor to evaluate market options for its future office space needs. JLL prez Paul Whitman and managing director Brad Selner will lead the effort. Currently, Hallett & Perrin occupies 21.5k SF at 2001 Bryan St. in downtown Dallas and is seeking approximately 25k SF for its new location. Hallett & Perrin is considering office space in the downtown market to Northwest Highway. | |
| Acquisitions | |
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| Champion acquired two Richardson office buildings in separate transactions, along with a defaulted bank loan on a Las Colinas building. Champion's principals Jeff Swope and Steve Modory teamed-up with investment partner Fidelity Real Estate Group on all three acquisitions. No purchase cost was disclosed. The Richardson buildings total 516k SF in the Galatyn Park mixed-use development. The former Nortel Networks building, a seven-story, 282k SF office building, had been foreclosed on by a special servicer. The property has been rebranded as 1011 Galatyn Parkway (pictured). Champion is directly handling marketing and has started a renovation of the building's lobby and common areas, with completion scheduled in early December. *** | |
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| O?Reilly Automotive, which is expanding with 150 stores nationwide this year, purchased a former Hollywood Video Store at 1600 Beltline Rd. in Mesquite to renovate for an O?Reilly Auto Parts store. No price was disclosed. The video store closed in spring 2009. The 7k SF building at the SWC of Beltline Road and Cartwright sits on a 50k SF parcel of land. The size of the building is consistent with O?Reilly?s retail stores, says Brand Capital Partners Jeff Brand. O?Reilly has a history of adaptive reuse of commercial space, he says. Movie Gallery Inc., the parent company for Hollywood Video, filed for Chapter 11 protection in February and announced plans to close more than 800 stores, including several throughout the DFW area. Jeff repped the property owner, Barton Investments. *** Wilkerson Properties purchased a 104k SF warehouse at 2895 113th St. in Grand Prairie. NAI Robert Lynn?s Michael Stanzel and Robert Blankinship repped the buyer. Lee & Associates? Mark Graybill and Donnie Rohde repped the seller. *** FFZ Corp. purchased an 11k SF building at 11111 Walnut Hill in Dallas. NAI Robert Lynn?s Tom Heraty represented the seller, Leisy Brewing Co.,, and The Michael Group's Jay Song repped the buyer. | |
| Leases Family Video leased a six-store package of former Movie Gallery locations in Texas, Oklahoma, and Tennessee. The Retail Connection?s Andrew Sudderth and Jeremy Zidell repped the tenant and the landlord, Southern Development of Mississippi. The size of the deals was not disclosed. *** Dallas Nursing Institute leased 24k SF of office space at 9451 LBJ Frwy. in Dallas from Mindlin Cos. CBRE's Burson Holman and Clay Gilbert represented the landlord. Dominus Commercial's Steve LaMure represented the tenant. *** Iron Mountain Information Management extended its lease of 288k SF of industrial space at 1800 Columbian Club in Carrollton from LIT Industrial Texas LP. CBRE's Steve Trese and Adam Hammack represented the landlord. JLL?s Michael Swaldi and Rob Kingsbury represented the tenant. *** Leggett & Platt leased 55k SF of industrial space at 615 Westport Pkwy. in Grapevine from International Airport Center. CBRE's Steve Koldyke and Dave Anderson represented the landlord. Mohr Partners' Christopher Leonard repped the tenant. *** Tire Center leased 52k SF of industrial space at 3221 E. Arkansas Ln. in Arlington from Forum 303 Crossing. CBRE's Stan McClure and Steve Koldyke repped the landlord. *** | |
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| Samsung Electronics leased an additional 130k SF in Point West VII in Coppell adding to its 261k SF already leased in the building late in 2009. Located at 240 Dividend Dr., the site is Samsung Mobile's largest cell phone distribution facility in the US. With Samsung's expansion, Point West VII is now 100% occupied. CBRE's Dave Anderson and Pat O'Keefe represented Samsung. Duke Realty VP Randy Wood represented Duke, the landlord. *** Red River Warehouse leased 106k SF of warehouse/distribution space at the Parkway Distribution Center at 607-807 Parkway Dr. in Grand Prairie. Lee & Associates? Mark Graybill represented the landlord, First Industrial Texas. Grubb & Ellis SVP Blake Anderson repped the tenant. *** | |
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| Prosperity Bank signed a new, five-year lease for its almost 6k SF banking facility and an almost 11k SF land lease for its drive-through ATM and teller facilities at 6801 Gaylord Pkwy. at Hall Office Park in Frisco. Hall Office Park director of leasing Kim Butler and leasing associate Tammy Lomonaco handled negotiations for the owner, Hall Financial Group. *** Emergency Staffing Solutions leased 14k SF of office space at 17304 Preston Rd . in Dallas. NAI Robert Lynn?s Dan Jardine represented the tenant and Peloton?s Trevor Franke represented the landlord. *** Dealer Industries leased 26k SF of office/warehouse space at 1601 Wallace Dr. in Carrollton. NAI Robert Lynn?s Todd Hubbard repped the tenant and Holt Lunsford?s Scott Moore represented the landlord. *** Mortgages USA leased 21k SF of office space at 4455 LBJ Frwy. in Dallas. NAI Robert Lynn?s Dan Jardine represented the tenant. *** Prodigy Oil & Gas inked a more than 10k SF lease at Waterway Tower, located at 433 E. Las Colinas Blvd. in Las Colinas. Transwestern's Matt Hurlbut represented the landlord. JLL EVP Russell Crosby and associate Rachel Brown repped the tenant. | |
| Kudos | |
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| Gaedeke Group's One McKinney Plaza, which is undergoing more than $5M of renovations, earned the portfolio's first LEED for Existing Buildings' certification. The 257k SF One McKinney Plaza at 3232 McKinney Ave. in Uptown is 91% leased. |
