The Deal Sheet
| The University of Texas at Arlington, the City, and First Baptist Church-Arlington launched a new 20-acre $80M College Park residential and retail development from UTA Boulevard to Mitchell Street, to create an urban area for students and residents to gather. | |
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| Three projects— The Green at College Park, College Park Center, and a residential and retail development—are key elements of $300M in capital improvements underway at UTA. The university also will open a $126M, 234k SF Engineering Research Building later this year. The $78M College Park Center is a 6,500-seat events venue;The Green at College Park is an outdoor space for students and the community designed with sustainability in mind; and the residential and retail development is expected to open summer 2012. It will provide housing for about 600 students, wrapped around parking structures with space for 1,800 vehicles. SRS Real Estate Partners and Cypress Equities are marketing the retail space. | |
| Financing Quadrant Realty Finance secured debt and equity financing for Las Palmas Marketplace in El Paso on behalf of Dunhill Partners. The debt was provided by a European lender and the equity from a combination of a US and a Canadian REIT. Randy Fleisher and Jason Piering placed the fixed-rate, non-recourse loan. The proceeds were used by the borrower to acquire the community shopping center. Las Palmas Marketplace is a 98% occupied, 638k SF community shopping center. Sales BRoy Investments purchased 8850 MacArthur Blvd., a 5k SF office building in Irving, from Valley Ranch Office Investors. Grubb & Ellis Co.’s Charlie Beck and Kimberly Martinez brokered the transaction with Wynmark Commercial’s Mark Pittman. *** Le-Mar Holdings purchased the 16k SF industrial building at 950 W. Crosby Rd. in Carrollton. Structure Commercial’s Bob Kent negotiated the sale. Seller and price were not disclosed. *** USA Eagle Carports acquired a 75k SF industrial building 5700 E. Belknap St. and leased 20k SF to the seller, Stevens Technology. Bradford Commercial Real Estate Services SVP Todd Lambeth repped the buyer and Bradford EVP Karen Simon and market director Nick Talley represented the seller. *** Centennial Real Estate Co., in partnership with Corinthian Apartment Investments and equity partner Praedium Fund, acquired The Élan at Bluffview, a mixed-use multifamily and retail development in Dallas. The purchase price and seller were not disclosed. At 3850 W. Northwest Hwy., the 181-unit complex is 95% leased. The 70k SF of retail is 30% leased. *** Centennial, in partnership with Gideon Interests, also purchased Cross Pointe Center in Saginaw. The purchase price and seller were not disclosed. The 45k SF neighborhood center at Business 287 & Bailey Boswell Rd. was constructed in 2005 and is more than 80% leased. Approximately 8k SF of space is available for lease. The center will be managed by Centennial Real Estate Management. Leases | |
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| Heritage Health Solutions leased 14k SF of office space at 300 Parker Square in Flower Mound. Vintage Realty's Phyllis Garcia represented the tenant. Annandale Real Estate’s Hugh Wall and Jay Annand represented the landlord. *** McJunkin Red Man Corp. signed a 95k SF lease at 841 Heinz Way in Grand Prairie. Transwestern’s Brant Landry, Jim Hazard, Brad Struck, Alan Harrington, and Steve McCoy represented the tenant. *** Pinnacle Interior Elements signed a 40k SF lease at 1434 Patton Place in Carrollton. Transwestern’s Bill de la Chapelle, Brett Owens, and Emily Candee represented the tenant. *** Heritage Capital Corp. signed a 18k SF lease at 1518 Slocum St. in Dallas. Transwestern’s Nora Hogan and Robert Deptula repped the tenant. *** Total Plan Services signed a 10k SF lease at Millennium Tower, 15455 N. Dallas Pkwy. in Addison. Transwestern’s Kim Brooks and the late Matt Didyk represented the landlord. *** Bradford Commercial Real Estate Services market director Nick Talley was on a role, inking some 53k SF in deals:
*** GrandHomes leased 17k SF of office space at Millennium Tower located at 15455 Dallas Pkwy. Stream Realty Partners’ Todd Noonan and David Cooke repped the tenant. David also repped LPB Energy Management in its 20k SF lease at Two Richardson Center at 1130 E. Arapaho Rd. *** Sewell Village Cadillac Co. renewed its 16k SF lease at Bluffview Towers West at 3860 W. Northwest Hwy. CAPSTAR Commercial Real Estate Services’ Clint Madison and Rodney Helm repped the landlord. Clint, along with Trey Smith, also repped the landlord in CBeyond’s 21k SF lease at Heritage Square I-4835 LBJ Fwy. CBRE’s John Roper repped the tenant. *** Jones Lang LaSalle managing director Carl Ewert and EVP Jeff Staubach represented Houlihan Lokey Howard & Zukin in a 6k SF office lease at 200 Crescent Ct. in Uptown. Tony Click repped the landlord, Crescent Real Estate Holdings. At Frisco Square, JLL SVPs Jeff Eckert and James Esquivel negotiated three deals totaling 10k SF for Behringer Harvard Funds and Fairways Frisco Square. *** Crescent Processing and Gerber Technology inked deals at 3 Park Central. Grubb & Ellis Co. SVP Russ Johnson and senior associate Sean Dalton represented the owner, McKnight Realty Partners, in both transactions. Crescent Processing leased 24k SF(an 8k SF expansion) and worked the deal with in-house representation. Gerber Technology took 8,000 SF, repped by Jackson & Cooksey’s Michael Quint. *** Texas Wasatch Insurance Services is relocating from Colleyville to 100 E. Royal Ln. in Las Colinas in November occupying 23k SF for seven years. TWG was represented by JLL’s George Curry and Steve Thelen. *** TXU Energy renewed its lease for 190k SF for five years in Irving's Las Colinas Urban Center at 200 W. John Carpenter Frwy. TXU was represented by JLL’s Jon McNeil, Terry Darrow, Brad Selner, and Brooke Armstrong. Representing the property owner was Argent Property’s Doc Cornutt. | |
| New Business | |
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| Bright Realty was awarded the management and leasing assignment for the 102k SF National Health Insurance building at 1901 N. Hwy. 360 in Grand Prairie. The six-story building will be leased by Bright Realty associate Tony Albanese. The building has 22k SF of contiguous space available on the second floor. *** Structure Commercial has been awarded the leasing of the 53k SF former Tom Thumb at 2810 E. Trinity Mills in Carrollton; the 725k SF Plymouth Park Shopping Center at the four corners of Irving Blvd. and Story Rd. in Irving; the 54k SF Cottonwood Creek Shopping Center at 109 N. Greenville Ave. in Allen; 55k SF industrial building at 4650 Simonton Rd in Dallas; and the 20k SF industrial building at 8400 Directors Row in Dallas. *** | |
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| Following a September property sale by a local bank to a new ownership, SCM Real Estate Services will continue as management and leasing agent for the 78k SF Cordovan Park office building in Arlington. The two-story, two-building garden office complex at I-20 between Green Oaks and Little Road in South Arlington has 20k SF available. SCM will implement a capital improvement program to update the interior and exterior common areas over the next 12 months. SCM senior leasing specialist Beaux Riley assisted in the sale negotiations and will be responsible for leasing the project. People on the Move Cohen Financial appointed Joe Greenhaw as EVP of the loan administration department. With an executive team, he will lead the strategic expansion of the firm's asset management and special servicing business from Cohen Financial's Dallas office. *** Henry S. Miller Brokerage promoted Missy Hodges to director of marketing and public relations. Missy is responsible for the company’s day-to-day corporate communications. *** Colliers International DFW appointed Creighton Stark as SVP in its office investment sales division. Stark will specialize in the sale of office and medical investment properties for institutional, private, and special-asset clients. *** The International Economic Development Council elected Fort Worth Chamber of Commerce Economic Development EVP David Berzina to its board of directors for a two-year term starting Jan. 1. *** Brady Scott joined ML Realty Partners as SVP. He will oversee the firm’s interests throughout Texas. | |
| Openings Starplex Cinemas’ Lake Worth Movies 14 opened Oct. 15 at 6600 NW Loop 820 in Lake Worth. It is an all-digital theatre featuring Real D 3-D digital projection and an expanded concession menu including hand-dipped Blue Bell ice cream, pizzas, and mini corn dogs. | |
| Kudos AIA Dallas's 2010 Design Awards winners in a variety of categories include Laguarda Low Architects for National Bank Expansion and Pangyo Dome; HKS for cliff_hanger hotel, University of Texas Center for Brain Health and Lear HQ; Morrison Seifert Murphy for Northaven Residence; Buchanan Architecture for House on the Park; Nimmo American Studio for Progressive Architecture for Rusk Residences; Cunningham Architects for Wimberley Residence; Perkins+Will for Lancaster Public Safety Facility and Round Rock Independent School District’s Cedar Ridge High; Oglesby Greene for A House on White Rock Creek; Quimby McCoy Preservation Architecture for Esplanade Fountain Restoration; and building community WORKSHOP for Ella's House. James Pratt will receive a lifetime achievement award and Oglesby-Green Architects will receive the firm award. A reception will be 6-8 p.m. Oct. 28 at the Dallas Center for Architecture. *** | |
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| Blue Cross and Blue Shield of Texas’ Richardson HQ received LEED Silver certification. The project includes a 15- and a seven-story office tower, as well as a 3,500-car parking structure. Corgan designed the office complex, while Chicago-based ZPD+A performed tenant interior design. KDC was the developer and McCarthy Building Cos. was the general contractor. *** Wier & Associates ranks No. 88 on the 2010 The Zweig Letter Hot Firm List, up from last year's ranking of 198. The Zweig Letter researches and recognizes the fastest-growing architecture, engineering, and environmental consulting firms in the US and Canada. Firms are ranked by comparing their change in revenue and earnings over the trailing three years in terms of real dollars and percentage change. *** The Congo Street Green Initiative by the building community WORKSHOP was selected for the Community-Informed Design Award by the AIA Housing and Custom Residential Knowledge Community, in conjunction with HUD. The project focuses on a tight-knit community of 17 single-family and duplex houses, all built before 1910, which needed re-development. Through a series of conversations with the residents, a plan was developed to restore and/or reconstruct six owner-occupied homes. The idea is centered around the concept of creating a temporary home, or “holding house,” to house the family whose home was currently under renovation. To date, three resident homes have been completed and the fourth is under construction. | |
