The Deal Sheet
| Dallas-based private equity real estate firm Phoenix Capital Partners provided equity capital to Southern California-based M&A Real Estate Partners to acquire the 192-unit/564-bed, Class A Campus Park Apartments in Denton for an undisclosed sum. | |
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| Home to UNT and TWU, Denton has a student population of about 45,000. The project is among the newer Class A properties in the marketplace, which positions the property for strong future rent growth, a Phoenix spokesman tells us. The project is nearly 100% occupied this fall and is expected to produce double-digit current cash flow for the partnership. | |
| Sales Amanacar sold an 18k SF building at 4608 Fairlane Ave. in Fort Worth to an adjacent property owner, Premium Frac Pumps. Bradford Commercial Real Estate Services market director Nick Talley negotiated the transaction. *** | |
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| Colorado-based Corinthian Real Estate purchased a 7k SF former Blockbuster store at 6380 N. Beach St. in the southeast quadrant of North Beach Street and Western Center in Fort Worth. Built in 1995, the former Blockbuster building offers a Papa John's next door, .62 acres of land, significant street frontage along the heavily trafficked North Beach Street, and more copies of Marley and Me than anyone really needs. Henry S. Miller Brokerage's SVP Daniel Harris and Byron Seamands repped the seller, Kauikeolani LLC. Corinthian was repped by Fischer & Co.'s Steve Hanlock. *** Crescent Oaks, a 220-unit apartment community at 3001 W. Normandale St. in Fort Worth, was sold to G8 Capital. Transwestern's Armand Charbonneau, Mark Freeman, and Taylor Snoddy represented the seller. *** John Bowles Co.'s Mike Cagle and Taylor LeMaster repped the seller in the 10k SF retail strip center anchored by Good Year Tire at the NEC of Beltline and Plano Road in Richardson. Glacier Commercial's Shannon Owens repped the buyer. | |
| Leases Jones Lang LaSalle's Fort Worth landlord leasing team secured five leases totaling 37k SF in Fort Worth for several landlords. At Carter Burgess Plaza, JLL SVP Whit Kelly negotiated 26k SF for Crescent Crown Greenway Plaza with Texland Petroleum for 16k SF with CBC Worldwide J. Searcy repping the tenant; and with Sproles Woodard for 7k SF with CBC Worldwide J. Searcy, also repping the tenant. At University Centre I, JLL SVP Frank Taylor negotiated on 9k SF at U Centre I Real Estate with a more than 5k SF lease to Woodard Insurance and more than 3k SF to GE Fort Worth Group with GVA Cawley's Bob Acuff repping the tenant. *** Impartial Services Group committed to a 23k SF lease in Crestview Tower occupying the third floor at 105 Decker Ct. in Irving. This brings the building to 65% leased. Stream Realty Partners' Tim Terrell, Sarah Payne, and Rebecca Rambie represented the landlord, TA Associates Realty. Bradford Commercial Real Estate's Dave Besserer and Curt Linn represented the tenant. *** Treadstone Management signed a new lease of almost 6k SF on the 42nd floor at Trammell Crow Center. Crescent's Katy Cleary represented the owner, CW-#11 Ltd. Pillar Commercial's Manny Ybarra represented Treadstone. *** Holt Lunsford Commercial completed multiple deals for more than 26k SF including an office lease renewal and expansion with Green Mountain Energy for 11k SF at Pitman Atrium Tower at 1255 W. 15th St. HLC's Byron McCoy negotiated the lease with JLL's Brooke Armstrong and Elysia Holt Ragusa. *** Anytime Fitness inked a 4k SF lease at 1029 N. Saginaw Blvd. in Saginaw from Madison North Town Co-Tenancy. The Retail Connection's Andrew Sudderth and Matt Wilson repped the tenant. *** Gary Riggs design firm signed a five-year early renewal of its 33k SF lease at 505 Century in Richardson. Allen Baseball Holdings will add its 10th training facility in the Dallas area by becoming a new tenant at the property, signing a five-year, 28k SF lease. CB Richard Ellis Realty Trust inked the deals. *** Pacific Century Realty handled several deals in August including:
*** US Courier & Logistics leased a 32k SF office/warehouse in Regal Business Center at 4560 Leston Ave. in Dallas. Bradford Commercial Real Estate Services VP Brian Pafford represented the landlord, Regal Business Center. CBRE first VP David Easterling represented the tenant. Brian also negotiated a direct renewal deal for the same landlord with Acoustical Services Interiors for its 7k SF space at Regal Business Center at 4656 Leston Ave. *** Kirkland 's will open new locations at The MGHerring Group's Uptown Village at Cedar Hill and The Village at Allen. The 10k SF Uptown Village at Cedar Hill location will open in November on the upper level of the shopping center. A 7k SF store will open at The Village at Allen in April next to TJ Maxx. | |
| New Projects | |
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| BOKA Powell is near completion on the adaptive re-use project of the new Frisco Discovery Center at 8004 North Dallas Pkwy. The project converted a former manufacturing warehouse into an arts, education and cultural center in Frisco. The firm provided full architectural services for adapting 25k SF of empty warehouse space —part of a 150k SF building once occupied by rocket maker Beal Aerospace— into a cultural destination for Frisco. The open space is now the new home for Frisco Arts, a 100-seat Frisco Black Box Theatre, a Frisco Art Gallery, and the Sci-Tech Discovery Center, a hands-on science and technology learning center for students.Balfour Beatty Construction built the project, which is funded by the Frisco Community Development Corp. *** Balfour Beatty Construction, in partnership with Florida-based James A. Cummings, was awarded a $100M contract to manage construction for the Terminal 4 Gate Replacement at Fort Lauderdale-Hollywood International Airport. In a JV known as BARC, the company was also awarded pre-construction and construction services for DFW International Airport's seven-year,$900M terminal development program. *** | |
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| Illinois-based TopGolf USA plans to build a three-story driving range in Allen, making it the seventh TopGolf facility worldwide, including one in Dallas. The Allen facility will be part of the recently completed Village at Allen and Fairview, a retail development by the Dallas-based MGHerring Group containing more than 2M SF of occupied retail space. *** Beck Technology released of the latest version of DProfiler, the company's flagship macro BIM software integrating modeling, cost estimating, energy analysis, and now, site topography analysis. Proposed site plans can then be rapidly created in DProfiler and the cut and fill quantities and costs are calculated on the fly. The new module makes it possible to review construction cost, site cost, and energy cost simultaneously in a single application and study many different prototypes across all disciplines very quickly. *** Stewardship Commercial Management Real Estate has been assigned leasing and management of Cordovan Park Business Park at I-20 West near Little Road making renovations a priority. Because Cordovan Park was built in 1986, the property was due for upgrades. New HVAC units in Building B, new lines for security, fire, elevator monitoring, and landscaping are a few of the items on the $300k list of planned upgrades to Cordovan Park. | |
| Financing 1st Service Solutions facilitated a $6.7M CMBS loan assumption for two institutional-owned self-storage facilities located in Allentown and Bethlehem, Pa. On behalf of the buyer, a regional self-storage provider, 1st Service Solutions worked with special servicers and the lenders' reps to assume the two conduit loans for $3M and $3.7M, respectively. The 1st Service Solutions team was led by portfolio manager Andy Dunlap. The acquisition makes the buyer the largest owner of self-storage properties in the region. People on the Move Steve Dawkins rejoins SRS Real Estate Partners as EVP. He now leads the company's lease administration sector, which includes the management of clients' real estate portfolios. He also focuses on company-wide business development and serves on the SRS executive leadership team. Steve returns to SRS after serving at the company's executive level from 2002 to 2008. *** PageSoutherlandPage promoted Mary Miano-Sleeper to VP, director of business development. Mary will continue to work closely with brokers, developers, and owners to identify project opportunities for the firm. Mary's focus is to assist the brokerage community during the deal process. | |
| Kudos | |
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| Corgan earned a design award from the Precast/Prestressed Concrete Institute (PCI) for its work on the John A. Dubiski Career High School in Grand Prairie. Corgan completed the design in August 2009 for the career and technology high school, which focuses on equipping students with the skills they need for the workplace. The school features a precast concrete exterior that simulates blocks of veined, chiseled natural shell stone. Precast components were supplied by Gate Precast Co. of Hillsboro. Partnerships Dallas-based CCIM Technologies signed a strategic partnership agreement with LA-based AuctionPoint to integrate AuctionPoint's online auction engine with the CCIMREDEX platform. AuctionPoint is an online auction solution built specifically for brokers, which gives them the ability to sell commercial properties within a defined time frame. This will give CCIM Institute members access to AuctionPoint educational webinars and discounts on AuctionPoint services via CCIM TECH promotions. |
