The Deal Sheet
Yanyee International expanded and relocated within Twin Creeks Business Center in Allen inking a new lease for 22k SF of Class-A industrial space and extending its term. Yanyee is more than doubling in size as it marks its second year in the development. | |||
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Bradford Commercial Real Estate Services SVP and managing partner Susan Singer and market director Chris Stout represented the landlord, Twin Creeks Warehouse Venture. Coldwell Banker Real Estate Solutions repped the tenant. Yanyee is exchanging almost 10k SF in Building 100 at 1303 N Watters Rd for 22k SF in Building 300 at 1305 N Watters Rd where there's 10k SF left to fill in the 64k SF warehouse. Chris tells us the dealmaking has just begun; a backfill tenant is already eyeing Yanyee's soon-to-be-vacated space to return Building 100 to 100% occupancy. "We're also working a couple deals on Building 200," he adds, crediting the uptick in activity to the city's limited Class-A office/warehouse space and temporary moratorium on new industrial construction. | |||
LEASES Thompson Coe leased 69k SF of office space in Plaza of the Americas at 700 N Pearl St in Dallas. Cushman & Wakefield of Texas? Rick Hughes and Craig Wilson represented the tenant. Peloton?s Joel Pustmueller represented the landlord. *** Aircanopy Internet Services leased a 15k SF office/warehouse 1200 Gambrel Dr in Arlington, just east of Collins. Aircanopy recently merged with Skybeam. SCM Real Estate Services? Gary Walker andRenee Efimoff represented the tenant. Dunn Commercial's David Dunn represented the landlord. *** Facility Interiors leased 56k SF of industrial space at 5019 Pulaski St from Weingarten Realty Investors. Grubb & Ellis? Daniel Ruddand Billy Vahrenkamp represented the lessee. The lessor represented itself. The duo also repped Buffet Partners in its almost19k SF of office space at 2701 E Plano Pkwy from RREEF America. CBRE's Teri Garcia repped the lessor. *** | |||
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Trane US leased 49k SF of industrial space in City Warehouse at 5200 E Grand Ave from City Warehouse. Grubb & Ellis? Gary Lindsey represented the lessee. Jim Brice of Holt Lunsford Commercial repped the lessor. *** Nickey Warehouses renewed and expanded more than 58k SF of industrial space at 1312 West Crosby Rd in Carrollton from Crosby Valwood. CBRE's Ann Huntington represented the tenant. *** Exeter Finance leased more than 22k SF of office space at 222 W Las Colinas Blvd in Irving from SP Millennium Center. CBRE's Bill Lokey Jr and John Fancher represented the landlord while the tenant was represented by Swearingen?s Jim Montgomery. *** Whataburger Restaurants leased 50k SF of land at 2515 Airport Frwy in Irving from SLJ Company. CBRE's Jeff Kittleson and David Copeland repped the tenant. *** | |||
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Tootie Pie Co plans to open its second Tootie Pie Gourmet Cafin Dallas at the corner of Preston and Royal in Preston Hollow. The Frisco caf (pictured) is doing well and has generated many fans in the Dallas area making the opportunity to locate in the upscale Preston Hollow area ideal, says company prez/CEO Don Merrill. *** Mail Presort expanded its lease to 50k SF of office/warehouse space at 3401 Quorum in Fort Worth. NAI Robert Lynn?s Todd Hubbard repped the tenant. Todd also repped Creative Stitches in its 18k SF renewal of office/warehouse space at 578 N Beach St in Fort Worth. *** MATRIX Printing & Graphics has leased 24k SF of office/warehouse space at 8401 Chancellor Row in Dallas. NAI Robert Lynn?s Jim Svidron repped the tenant and Mercer Co's Jeffand Jeremy Mercer repped the landlord. *** Accent Food Services leased 32k SF of office/warehouse space at 2350 Crist Rd in Garland. NAI Robert Lynn?s Stephen Cooper andDave Peterson repped the landlord, Dalfen America Corp. *** Special Distribution DFW renewed its almost 90k SF industrial lease at 600 109th St in Arlington from BHP Sale Builders Hardware. CBRE's John Brewer and Steve Koldyke repped the landlord while Dunn Commercial's David Dunn represented the tenant. *** | |||
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LG Electronics USA leased 270k SF of industrial space in the former Home Depot distribution center at 501 Henrietta Creek (aka Alliance Gateway 53) in Roanoke from AT Industrial Owner 5. CBRE's Dave Anderson represented the tenant. Dave also reppedGeneral Electric Co in its 50k SF lease of industrial space at 4330 Beltway Pl in Arlington from RCI Westway. CBRE's John Brewerand Steve Koldyke repped the landlord. Dave also repped Deep Sea Aquatics in its almost 26k SF lease of industrial space at 2054 Forest Ln in Garland from Teachers Insurance and Annuity. CBRE'sJohn Hendricks repped the landlord. *** Uline leased 60k SF of industrial space at 1111 Executive Dr in Coppell from Primera Coppell Properties I. CBRE's Dave Andersonrepresented the tenant. Primera?s Pat Anderson represented the landlord. *** Lee & Associates completed a 15k SF office lease for YSTA Services. at 2320-2330 Gravel Dr in Fort Worth. Tyler Baucom, Nick Holbeck and Donnie Rohde represented the landlord, S&K Management. | |||
SALES Fort Worth Community Credit Union purchased a 4,000 SF North Richland Hills bank building on .95 acres of land on Davis Boulevard, west of a Target-anchored shopping center. The site was previously occupied by Washington Mutual Bank. The FWCCU branch is expected to open by mid-fall of this year. Venture Commercial Real Estate's Christopher Gibbons represented the buyer. The Retail Connection?s David Levinson represented the seller, Inland Western North Richland Hills. *** Prism Electric purchased a 54k SF building at 2985 Market St in Garland. NAI Robert Lynn?s Stephen Cooper and Jim Strublearranged the sale of the facility. *** A local investor purchased a 46k SF building at 1451 Wycliff. NAI Robert Lynn?s Robert Blankinship represented both the buyer and seller. *** LBA Realty purchased 210k SF of industrial space at 5931 Campus Circle Dr in Irving from 5631 Campus Circle Partners. CBRE's Jack Fraker, Josh McArtor, Gary Carr, and Russell Ingrum. CBRE'sSteve Berger represented the seller. *** Mullapudi Ventures purchased 15 acres of land, located at the SW corner of Panther Creek Parkway and Dallas Parkway in Frisco from BankFirst Financial Services. Grubb & Ellis? Jim Riggertrepresented the seller. Weston Land Co's Scott Balch repped the buyer. | |||
PEOPLE ON THE MOVE | |||
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Republic Title?s general counsel Peter Graf with Cathy Moeller, who won the 2011 Commercial Spirit of Republic Title Award, which is given annually to an exemplary commercial employee. Cathy began her career in the title business as an escrow assistant in 1986 with a competitor. She began closing transactions in 1999 as assistant VP. *** Kyle Robertson joined Bright Realty as SVP of investment services. Kyle will provide advisory, consulting and brokerage services to private equity firms, institutional investors and developers. He also sources new development opportunities and acquisition/disposition of income producing properties. He has more than 25 years of CRE experience and has worked with national retailers such as Starbucksand Walmart, and recently completed assignments with investors on the disposition of Albertson and Kroger's locations. *** Marcus & Millichap Capital Corp named Brian Adams as anassociate director in the firm's Dallas office. Brian has more than 10 years of CRE finance experience. Prior to joining MMCC, he was a loan acquisitions team leader with Beal Bank. He also served in originator and real estate analyst positions with Bridger Commercial Funding where he participated in the origination and closing of more than $600M in real estate financings. | |||
FINANCE FelCor Lodging sold 27.6M shares of its common stock at $6 per share. The shares sold include 3.6M purchased by the underwriters. FelCor received net proceeds of $159M from the offering with plans to use the cash to fund the $140M purchase of two hotels in Midtown Manhattan (the Royalton and Morgans, which we told you about last week), to repay existing debt, including its line of credit, and for general corporate purposes. BofA Merrill Lynch, JP Morgan, Citi, Deutsche Bank Securities, and Goldman, Sachs & Co, acted as joint book-running managers. Credit Suisse and Scotia Capital acted as co-managers. The sale was completed on April 1. |
