The Deal Sheet
| American Locker Group is relocating and expanding its corporateHQ and primary manufacturing operation from Grapevine to its new100k SF DFW Airport location at 2701 Regent Blvd. | |
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| American Locker Group signed a long-term deal for its domestic manufacturing operation, says Transwestern SVP Brett Owens, who repped the tenant along with Jim Graham. NAI Robert Lynn?s Tyson Erwin repped the landlord, GE Real Estate. ALG prez Paul Zaidinssays the larger facility will be more efficient and give the firm the ability to grow business and improve customer service with the ideal location in the heart of Dallas-Fort Worth with easy access to DFW airport and surrounding highways. | |
NEW BUSINESS Mill Creek Residential Trust and Rockwood Capital formed a newJV to invest in multifamily development, construction, and acquisitions throughout the US. The partnership includes an investment of $200M by Rockwood Capital and Crow Holdings in Mill Creek Residential Trust, which will target core markets. The senior management team includes former Trammell Crow Residential veterans Charles Brindell Jr. (CEO); Michael Collins (executive managing director, West); William MacDonald (executive managing director, East); Mark Dempsey (CFO); and Michael Melaugh(executive managing director, national capital markets). *** TDIndustries is rolling out its new web-based ServiceLINKmaintenance program to its 1,700 customers after completing its pilot program last year. The new online service enables customers to place service requests, review maintenance activities and history, and communicate with TDIndustries? service reps. *** Dallas-based Mohr Partners opened its newest office in Charlotte, NC, appointing Keith Bell, Scott Dumler, and Jack Glasgow as managing partners. | |
FINANCE | |
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| Quadrant Realty Finance secured financing for Linden In Town Apartments in Dallas. Curtis Jaggars, Randy Fleisher, and Jason Piering placed the non-recourse bridge loan. The proceeds were used by the borrower to acquire the asset and fund capital improvements to bring property performance in line with the market. Linden In Town is a 93%-occupied, 170-unit apartment complex built in 1998. *** HFF arranged $17.7M in financing for a five-property industrial portfolio totaling almost 668k SF in northern Dallas working exclusively on behalf of Crow Holdings to secure the fixed-rate loan through MetLife Real Estate Investments. Loan proceeds were used to acquire the properties. The portfolio consists of multi-tenant office/warehouse and distribution facilities that are 92% leased to tenants including Xerox, Freed's Furniture, Bunzl Distribution, Tohatsu America Corporation, and All American Flooring. The HFF team representing Crow Holdings was led by managing director John Rose. Crow Holdings has raised $3B of equity in real estate ventures since issuing the first of its five investment funds in 1998. | |
LEASES | |
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| Heller Industrial Parks signed a 297k SF renewal with Wagner Industries split between two properties: 850 West Freeway and 310 SW 14th St. The lease totals 107k SF at the 310 address and 190k SF on West Freeway. Wagner provides distribution warehousing, fulfillment, packaging and/or transportation services for the food services industry. The company has been a tenant in the properties for more than 15 years. Fred Kurtz repped Heller and worked directly with representatives at Wagner. *** Grubb & Ellis SVPs Chris Wright and Russ Johnson and senior associate Sean Dalton repped the building owner in three lease transactions totaling 40k SF of office space at 3500 Maple Ave.
*** Stream Realty's office leasing group's Tim Terrell and Rebecca Rambie inked a 12k SF lease for Southern Star Concrete at 8500 Freeport. *** | |
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| Stonebriar Centre inked a list of big-name retailers set to open this year including Michael Kors, Vera Bradley, and Naartjie Kids. Additionally, several long-time retailers are planning expansions and moving to new locations. Finish Line is expanding and Spencer Gifts is moving to a new spot in the mall. The food court is also adding a Panda Express, Sarku Japan, Tin Star Taco Bar, and a larger Charley's Grilled Subs. The Frisco mall is owned and managed by General Growth Properties. *** Konica Minolta Business Solutions USA leased more than 22k SFat The Landmark at 14800 Landmark Blvd in Addison. Cushman & Wakefield's C. L. Baskin Jr. repped the tenant. Cassidy Turley'sRobert Powell and Ward Eastman repped the landlord. *** TRI leased almost 19k SF of light-manufacturing space at 8717 Forum Way in Fort Worth from Randall Management. Bradford Commercial Real Estate Services SVP Todd Lambeth represented the tenant. Randall Management's Randall Haefli represented the landlord. *** | |
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| Crescent Real Estate Holdings added five new leases totaling more than 41k SF at Fountain Place. Commerce Street Capital andMercury Financial Group both are relocating within downtown, whileFifth Third Bank and a land management and development company have made moves from uptown. Additionally, Freight Shuttle International has chosen downtown Dallas for company HQ. Banking consulting and investment firm, Commerce Street Capital, (HQ-ed in Dallas with a second office in Atlanta) is scheduled to relocate this month taking almost 23k SF. Crescent's Kirby Whiterepresented the owner, Crescent Fountain Place, while The Amend Group's John Amend and B.D. Amend represented Commerce Street Capital. | |
KUDOS The Dallas-based Huntington Hotel Group tells us its newest hotel, the Hilton Garden Inn Arlington/Shirlington in Virginia earned LEED Silver designation making it the first LEED certified hotel in Arlington County, Va.
SALES Illinois Mutual Life Insurance Co sold a 52k SF office building at 8615 Freeport Pkwy in Irving to Capital Commercial Investments. Bradford Commercial Real Estate Services SVP Leigh Richterrepresented the seller. Roger Shipp, the buyer's VP of acquisitions, sourced and negotiated the transaction. *** Eclipse Electronics Systems acquired a 47k SF two-story office building at 17111 Waterview Pkwy in Dallas from Foxworth-Galbraith Lumber Co. Bradford Commercial Services SVP Sharon Friedberg and UGL Services SVP Nick Rossini represented the buyer. Hudson Peters Commercial's Janice Peters represented the seller. PEOPLE IN THE NEWS American Legend Homes named Forrest Hartley as land acquisition manager. Forest joins American Legend after 19 years at Highland Homes and its two sister companies, Huntington Homes and Sanders Custom Builders. He was the original sales counselor for Huntington Homes, launching the company in 1991, and during his tenure there was ranked as a top seller annually. Prior to Highland Homes, Forrest was sales manager for Perry Homes and project manager for General Homes. *** Boxer Property promoted Alex Kakhnovets to director of leasing. Previously the regional leasing manager of Dallas, Alex will now be overseeing leasing throughout all Boxer Property markets. Additionally, Alanna Vlad Vinson was promoted to regional leasing manager of Dallas. She had been a broker liaison and senior leasing associate. She will manage all leasing and marketing for Dallas. |
