The Deal Sheet
| If only there was a dating site for buildings: Historic Oilwell Supply Building in the trendy West End. Looking for an investor willing to take a chance on an REO asset and cash in. | |
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| Marketed by the Cushman & Wakefield of Texas Capital Markets Group led by Stephannie Mower (with help from office sales specialists Susan Gwin Burks and Barney McAuley), the 65k SF five-story office building has ground-floor retail located at 2001 N. Lamar. C&W is repping the special servicer. Built in 1923 and home to the Oilwell Supply Co. for 60 years, Brook Partners renovated and repurposed the property while maintaining the historic building shell after 15 years of vacancy. The building was purchased as a stabilized asset by Oilwell Supply LP and is now being offered as an REO asset. Current office tenants in the 54% occupied building include Turner Construction, D2 Architecture and 360 Architecture. Stephannie tells us the building represents the kind of unique opportunity for investors who have the cash to take advantage of this moment in the real estate market cycle. No price tag was disclosed. | |
Auction Carlton Exchange was retained to auction approximately $140M of performing and non-performing loans and REO assets secured by office, retail, hospitality, commercial, land, and residential properties located primarily in northern Texas. The assets include cash-flowing office buildings and stand-alone retail buildings located in infill locations with a close proximity to major thoroughfares and regional transportation corridors. The assets are being offered on a competitive real time-bid basis. Prospective bidders may bid on individual assets, smaller pools, or on the entire portfolio. Among the properties to be auctioned is a two-story, 50k SF office on a nearly four-acre parcel which has frontage on the area's major north-south thoroughfare in Allen. New Business L&B Realty Advisors selected the Grubb & Ellis Dallas Agency leasing team to lease 5500 Preston Rd., a 77k SF office building in the Preston Center submarket. Grubb & Ellis managing director Kathy Permenter, VP Heather Densmore Shover, and senior associate Sean Dalton will serve as the leasing agents. The three-story Energy Star building is located within close proximity to the Dallas North Tollway and Highway 75. Built in 1987, the building is 100% leased. *** UrbanAmerica Advisors and Green River Capital created a JV MBE called UrbanAmerica Res Services. With HQ in Dallas and offices in Salt Lake City, Atlanta, and NYC, the firm combines a network of 7,000 professionals. Leases | |
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| Evolution Packaging inked a 51k SF lease in Trinity West Business Park at 2450 and 2550 114th St. in Grand Prairie. The industrial complex offers close proximity to DFW International Airport and access to SH 360, I-30 and SH 183. Evolution Packaging moved into suite 290 of Trinity West Business Park?s east building. Handling transaction arrangements for the landlord were Bradford Co.?s Jim Ferris and Michael Spain. The tenant was represented by Henry S. Miller Brokerage?s Mark Hull and Brett Heinen. *** Toys "R" Us leased 35k SF of retail space at 362 S FM 1382 in Cedar Hill from KRG Cedar Hill Plaza LP. CBRE's David Copeland and Jeff Kittleson represented the landlord. *** Oracle America, Associated Network Providers, and SEMbio Partners leased space in Duke Bridges III, a 160k SF Class A office building at 7460 Warren Pkwy. in Frisco. Oracle will occupy 49k SF; Associated Network Providers and SEMbio Partners will occupy a total of 8k SF. Oracle is relocating its operations from Duke Realty's 5556 Tennyson building in Plano, while ANPI and SEMbio Partners are new customers. RESA Partners' Greg Langston, Bret Hefton, and John Flack represented Oracle; and Peloton Commercial Real Estate's Dale Ray and Joel Pustmueller represented Duke Realty on all three new leases. *** Queens Beauty Supply leased 10k SF of retail space at 3030 N. Josey Lane in Carrollton. Structure Commercial's Eric Deuillet negotiated the transaction. *** Domino?s Pizza Distribution renewed its 100k SF lease at its pizza dough production facility in Grand Prairie. The company's Grand Prairie location is one of its major pizza dough production and distribution hubs for Domino?s restaurants throughout the Midwest and the South. Heller VP/PM Frederick Kurtz repped landlord, Heller, while Cushman & Wakefield's Jean Russo repped the tenant. *** Anthropologie signed 9k SF lease at Watters Creek opening last month. *** PVR Midstream, a subsidiary of Penn Virginia Resource Partners, leased 24k SF at Williams Square, 5125 N. O?Connor Blvd. in Las Colinas. JLL?s Brad Selner, Chelby Sanders, and Brooke Armstrong repped the tenant. Cousins Properties' Mark Dickenson and Bill Brokaw represented the landlord, TIAA Realty. *** Rackmount Solutions leased 16k SF of flex industrial space in Jupiter 190 Business Park Building 1, 2805 E. Plano Pkwy. in Plano from RREEF. Bradford Commercial Real Estate Services market director Chris Stout repped the landlord. McNeff Cos.? Greg Fail represented the tenant. *** Matek Performance renewed 10k SF of industrial space in Mark IV Industrial Park, 4920 Rondo Dr. in Fort Worth. Bradford SVP Todd Lambeth represented the landlord, Rondo Mark IV. *** CAPSTAR?s Chris Taylor and Ward Eastman repped the landlord in a new 145k SF lease at Royal Ridge I for Verizon, which was repped by Mohr Partners' David Abell and Tanya Pratt. *** Bull & Bear signed an 8k SF lease at 18020 N. Dallas Pkwy. The Retail Connection?s Dennis Leibovitz repped the tenant. | |
Sales | |
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| Henry S. Miller brokerage?s broker brothers, SVP Pete Richardson and associate Andrew Richardson negotiated the sale of 4.5 acres at 8001-8113 U.S. Hwy. 287 on the NEC of 287 and Turner Warnell Road just south of Shady Lane in Arlington. The site offers visibility from Hwy. 287 and access from both thoroughfares. Assured Self Storage owner Don Valk purchased the acreage from Rose Investments to build his third Arlington location. This will be Assured?s 23rd overall DFW location. Assured plans to expand with plans to build two new facilities annually. Assured Realty's Shawn Valk repped the buyer. Pete and Drew repped the seller, Bill Rose of Rose Investments. *** Jamex sold 17778 Preston Rd. located in the Georgetown Office Park. Stream Realty Partners' Charlie Otte and Russ Webb repped the seller, Jamex and Grubb & Ellis? Charlie Beck, Kimberly Martinez, and Bo Estes represented the buyers, ACE Data Group. *** Centric Capital Partners purchased two net-leased properties in Snider Plaza: the Wells Fargo Bank building at 6900 Snider Plaza and the Dive Restaurant building at 3404 Rankin St. in University Park. The seller was 3404 Rankin LP. The properties were purchased for long-term investment purposes. S.C. Cos.? Clay Evans represented the seller and Fountain Capital's Stephen Swann represented Centric Capital Partners. *** TIG?s Ryan Wolcott and Michael Grant negotiated the sale of the almost 8k SF 10925 Alder Circle, a stand-alone building in Dallas. TIG represented the building owner, Twix Distributing Corp. and Artulux Inc.?s Henry Knapek represented the buyer Infrastructure The Regional Transportation Council allocated $9M of a $78M Kaufman County transportation package for the construction of the new Forney Parkway. Coupled with the City of Forney and owners of adjacent property Meadow Ridge Farms, the public funding portion of the public/private partnership will help fund the project to a 2012 completion. The Forney Parkway will be a multi-lane thoroughfare connecting FM 548 on the north to FM 1641 on the south. The road will serve as the entrance to The Village of Meadow Ridge Farms, a 450k SF retail development, scheduled to break ground in 2011 with a 2013 targeted opening. | |
Kudos AHI Facility Services received CIMS and CIMS-Green Building Certification with Honors as part of ISSA's Cleaning Industry Management Standard (CIMS) Green Building (GB) Certification program. The award has been presented to fewer than 40 facility service providers nationwide. AHI Facility Services is the first Texas-based commercial company to achieve certification for its entire scope of operations since the designation was introduced last year. People in the News | |
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| Integra Realty Resources? Keri Redford (right, with Debbie Fulwiler, at the Fort Worth CREW anniversary party this summer) received a national award recently as one of ?20 Under 40? recognized at the CREW Network Convention in San Francisco. Fort Worth CREW also recently approved its 2011 board of directors: Lori Polson Branscum as prez; Karen Kroh as prez elect; Cynthia Bailey and Barbara Fife as co-past presidents; Joy Norton as secretary;Debbie Fulwiler as treasurer; Scott Welmaker as director-at-large for sponsorship; Norma Crow as director-at-large for programs; and Amanda Martin as director-at-large for communications/PR. *** Perry Jones joined the commercial retail division of The Weitzman Group as a VP. Perry specializes in general commercial brokerage including retail tenant rep, retail project rep, and project acquisitions and sales. Prior to joining The Weitzman Group, he was co-founder of J&B Commercial, a retail tenant rep firm. *** Rick Besse joined Grubb & Ellis as VP for hotel, golf, and leisure. He comes from Horwath HTL, a hospitality consulting firm, where he spent five years as managing director of the Dallas office. *** Marijke Lantz joined Boxer Property in acquisitions and portfolio management. Marijke was the SVP of Valencia Capital Management before coming to Boxer. |
