The Deal Sheet
| The Crescent Office Towers in Uptown Dallas received LEED Silver certification from the US Green Building Council, adding to Crescent Real Estate Holdings' LEED cert for the Trammell Crow Center in the Arts District. | |
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| Crescent managing director of asset management Jim Wilson says Crescent's portfolio of 35 properties (17M SF) is either registered or already certified for LEED EB (existing buildings), and he anticipates most properties to be awarded certifications by the end of next year. Crescent has invested close to $28M in capital improvements, portfolio-wide toward sustainability, says John Zogg, managing director of leasing for its Dallas portfolio. The Crescent Office Towers (pictured) is owned by Crescent TC Investors, a JV of Crescent Real Estate Equities, institutional investors advised by JP Morgan Asset Management, and other institutional investors. Crescent is one of only six US CRE companies and one of only two in Texas to be recognized by EPA for improving energy efficiency more than 10%, they add. To hear from more of your green peers, don't forget to register for the Bisnow Dallas Sustainability Summit breakfast on Dec. 15 at the Westin Galleria. | |
Leases Securus Technologies Holdings renewed its 59k SF lease at The Princeton Building at 14651 North Dallas Pkwy. in Dallas. Crown Sterling Properties' Tom Dyer and Brian Griggs repped the landlord. *** 401K Plus renewed its almost 7k SF lease in the Cordovan Park Office building in Arlington. SCM Real Estate Services senior leasing specialist Beaux Riley represented the landlord. *** Protection One Alarm Monitoring inked an almost 54k SF renewal at 4221 W John Carpenter Frwy. Stream Realty Partners Corporate Services' David Cooke and Melanie Eidson repped the tenant. *** Queens Beauty Supply leased 10k SF of retail space at 3030 N. Josey Ln. in Carrollton. Structure Commercial's Eric Deuillet negotiated the transaction. *** Gaedeke Group inked a handful of leases totaling about 18k SF, including the fifth-floor lease at 9001 Airport Frwy in North Richland Hills by State Farm. Studley's Ric Kanatzar repped State Farm. *** Masonite inked a 108k SF lease at 11990 Shiloh Rd. in Dallas. TIG Real Estate Services' Tom Smolik, Michael Grant, and Ryan Wolcott represented the landlord, Kennedy Associates Real Estate Council. Cushman and Wakefield's Dan Cook and Mark Becker represented the tenant. *** | |
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| Cumulus Media's four DFW radio stations will be moving to Victory Park. Cumulus has signed a 20k SF lease in the Victory Plaza office building. Among the stations are KTCK-AM 1310 The Ticket and KPLX-FM 99.5 The Wolf. Cousins VP Bill Brokaw repped Victory Park UST Joint Venture I and CBRE's Jeff Ellerman and Phil Puckett repped Cumulus Media, Inc. *** Duke Realty Corp. entered into a long-term lease agreement with SP Richards Co. for 213k SF in its Freeport VII building, a 384k SF warehouse/distribution building in Coppell. SP Richards, an office supplies and furniture distributor, will consolidate 130k SF from two distribution facilities in Carrollton into Freeport VII, and lease an additional 82k SF to meet its expanding space needs. Freeport VII is located at 631 South Royal Ln. in Coppell. With SP Richards' lease, Freeport VII is 55.4% occupied, leaving 171k SF available for lease. Duke Realty VP of industrial leasing Randy Wood represented ownership. *** Prime Therapeutics expanded its space at 2901 Kinwest Pkwy. in Irving by 25k SF to a total 107k SF of office space. CBRE's Jeff Ellerman, Ann Huntington, Scott Hobbs, and Robert Blount repped the tenant. Cousins Properties' Mark Dickenson repped the landlord. *** Chain Link Services dba In Step Foodservice leased 128k SF of office/warehouse space in Railhead IV at 4675 Railhead Rd in Fort Worth. Bradford Commercial Real Estate Services EVP and managing partner Karen Simon represented the tenant. JLL's George Curry represented the landlord, Zephyr Rail Industrial. *** Raw Materials Corp. renewed 19k SF of distribution space at 2729 W. Airport Frwy. in Irving from Teachers Insurance and Annuity Association of America. Bradford Commercial Real Estate Services VP Jim Ferris represented the tenant. | |
| Kudos | |
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| Texas Regional Medical Center at Sunnyvale (pictured) celebrated its first birthday Sept. 28 with various celebrations throughout the month. TRMC-Sunnyvale is the Town of Sunnyvale's first hospital and was designed by Arlington-based Ascension Group Architects. Acquisitions College Properties purchased an eight-acre former auto dealership at 400 E. Airport Frwy in Irving from Ford Leasing Development Co.Bob Ginsburg of CBRE represented the seller. | |
Financing 1st Service Solutions arranged an $11.9M DPO agreement on the CMBS loan for the owner of a 225k SF office building in Texas. The DPO agreement reduced the amount on the borrower's under-performing CMBS loan by 56%, down from the original loan amount of $27M. It also resulted in a third-party purchase and closing of the building, simultaneous with the borrower's DPO. The 1st Service Solutions team was led by managing partner Brock Andrus. *** NorthMarq Capital's Dallas office arranged permanent financing of $10.9M for Grand Estates at Keller, a 160-unit multifamily property at 500 N. Tarrant Pkwy. in Keller. Built in 2006 and 96% occupied, the financing was based on a 10-year term with a 30-year amortization and was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. NorthMarq was able to work with AmeriSphere and provide the necessary loan proceeds so that the borrower didn't require additional equity to pay off their construction lender. SVP Stephen Whitehead arranged the deal. *** NorthMarq also arranged first mortgage financing of almost $4M for 502 Fountain Pkwy, a 216k SF industrial property in Grand Prairie. Financing was based on a 7-year term with a 20-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with State Farm Life Insurance Co. Northmarq SVP Ronald Reese arranged the deal. He says this transaction is an extension of a previous loan with State Farm. | |
New Business In-N-Out Burger will open at The Village at Allen in mid-2011 as one of the first locations in DFW. In-N-Out VP of planning and development Carl Van Fleet says the surrounding retail and entertainment venues will drive new customers to the restaurant, making it a good launching spot for the DFW expansion. *** | |
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| A new McDonald's opened in Irving's Heritage Crossing at 302 West Irving Blvd. The $2.8M facility, the largest built by the company in 20 years, was built on the site of the original 34-year-old restaurant and it will house almost 8k SF of floor space with seating for 180. *** Baylor Medical Center at Frisco is opening an urgent care facility in FieldhouseUSA. Still in the design stages, it will feature an onsite physician and several treatment rooms. CASE Healthcare Real Estate Advisory Group director of landlord services David Dees represented SportsVillageUSA and CASE Healthcare Real Estate Advisory Group principal and managing director Chris Barnet represented Baylor Medical Center at Frisco. People on the Move CB Richard Ellis Group promoted Mark Fewin to executive managing director and global leader of project management services, effective Jan. 1. He succeeds Ken Loeber, who was named to global leader of business development for CBRE's global corporate services business line. Most recently, Mark was CBRE's market leader for DFW, where he directed more than 950 employees. *** Will Walters joined Westwood Financial Corp. as acquisitions manager focusing on retail strip center acquisitions in the $1M to $5M range. He comes from Cushman & Wakefield, where he spent two years on the capital markets team. *** TDIndustries has appointed Phil Claybrooke VP of special projects for the North Texas region. Phil will serve as liaison with building owners and oversee the firm's energy upgrade programs, including optimization of mechanical and control systems. In this role, he will help building owners and managers optimize their facilities' performance to reduce operating costs through retrofits, upgrades, and expansions. *** Walter Dahlberg was named one of seven Outstanding Alumni for 2010 by Texas A&M College of Architecture for achievements and excellence in professional leadership. Other 2010 honorees are David Applebaum, David Bomba, Helen Keaton, Bill Swango,Bill Wilson, and David Zatopek. *** Weaver promoted Trish Fritsche, Carrie Hardison, and Tony Rocha to senior management roles. Trish is now senior manager of forensic services; Carrie is senior manager of tax and strategic business services; and Tony is senior manager of state and local tax services. *** LEO A DALY promoted Larry Keen to director of operations for the Dallas office. He previously served as senior associate. He will be responsible for overseeing the office's business operations for both architecture and interior design. *** Scott Muller joined CBRE as SVP in the DFW retail services business. His focus will be on account management and business development for local and national retailer accounts. Scott was a founding partner and principal of Falcon Realty Advisors where he focused on tenant rep, site selection, development, and management for clients including Container Store, Williams-Sonoma, and Talbots. |
