The Deal Sheet
A 15k SF lease for SCSI Stuff's HQ and operations hub brought the 1.3M SF Heritage Business Park in Grapevine to 100% occupied. (Sort of the way we felt after we left Phil Romano’s Potato Flats in Trinity Groves this weekend.)
The technology company searched the market for its new location, but ultimately selected the 800 Industrial Blvd site because of the rates, says Bradford’s Michael Spain, who repped the owner, KTR Capital Partners of New York. NAI Robert Lynn’s Tyson Erwin repped the tenant.
GRAND OPENING
Forget the big ribbon and giant scissors, Whole Foods Market Colleyville opened at 4801 Colleyville Blvd last week with a breadbreaking ceremony. City of Colleyville economic development director Marty Wieder tells us the 44k SF grocer is having a great impact on the Colleyville Boulevard corridor. Petco will open later this month immediately south of Whole Foods in the balance of the original grocery box space (almost 14k SF). Einstein Brothers is taking over a former Arby’s, and Aaron Brothers Framing is coming on board soon, too. Zoe’s Kitchen will be moving into a new end cap space.
LEASES
Fitness International inked a 37k SF lease for LA Fitness in the newest phase of the Water Tower Place development at the southwest corner of Custer Road and Virginia Parkway in McKinney. United Commercial Realty’s Jean Smith repped the landlord, Malouf Interests. Venture Commercial Real Estate’s John Zikos and Jonathan Cooper repped LA Fitness working with Diversified Partners’ Walt Brown Jr and Tim Dollander.
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Gulf Coast Sales & Marketing renewed 35k SF at 14289 Welch Rd in Farmers Branch from TA Associaties. Holt Lunsford Commercial’s J Scott Moore repped the landlord. Spire Commercial’s Campbell Henry repped the tenant.
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Direct Mail leased 27k SF at 1601 Wallace in Carrollton. Holt Lunsford Commercial’s J Scott Moore repped the landlord. Jackson Cooksey’s Louis Passcuzi repped the tenant.
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Whataburger leased a 41k SF pad site at the corner of FM 148 and Crossroads Parkway in Terrell with a summer 2015 targeted opening. UCR’s Thurston Witt Jr repped Whataburger. UCR’s Andrew Lehner repped the developer, Oakridge Investments.
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Global Experience Specialists signed an 11k SF lease at 1425 Greenway Dr in Irving from Klabzuba. Altschuler & Co’s Mike Dement and Katie Chu repped the landlord. Cushman & Wakefield’s Maschera Usrey repped the tenant.
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Medigain leased 21k SF at Willow Bend Park in the Far North Dallas submarket. Fults Commercial Real Estate’s Bob Buell, Tracy Fults, and Gini Russell repped the owner. Mohr Partners’ Kurt North repped the tenant.
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Fee, Smith, Sharp & Vitullo renewed 20k SF at Three Galleria Tower. Fee Smith was repped by CBRE’s Chelby Sanders, Josh White, and Jeff Ellerman. Colliers International’s Chris Lipscomb repped the landlord, GT Dallas Properties.
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XPS Solutions signed an 18k SF lease at 2703 Telecom Pkwy in Richardson. NAI Robert Lynn arranged the lease.
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Digitek Computer Products inked a 35k SF lease at 3901 W Miller Rd in Garland from First Industrial Realty Trust. Lee & Associates’ Nathan Denton repped the tenant. The landlord was repped by NAI Robert Lynn’s Stephen Cooper.
EXECUTIVE MOVES
Mohr Partners appointed Eric Beichler as managing principal to manage the Dallas brokerage office. His responsibilities involve growth plans for the Dallas office, business development, and oversight and assistance for Dallas brokers. He joined the firm more than 21 years ago and was promoted to managing partner in 1998.
Before we continue The Deal Sheet, a quick word from Bisnow events:
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SALES
Virtus Real Estate Capital purchased two multifamily housing communities, Bayou Bend (pictured) and Pecan Square, in a strategic JV with a local partner and property management company. The properties are within walking distance of each other in northwest Dallas. Virtus will spend $2.2M in upgrades to the existing properties beginning immediately. The Class-B properties have 748 units.
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An LLC purchased the 160-unit Holly Park apartment property at 9710 Military Pkwy in Dallas from a partnership. Marcus & Millichap VP John Barker repped both buyer and seller.
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Big Dog Investments sold an 11k SF retail space at 7105 Golf Club Dr in Fort Worth. Transwestern’s Sarah Everett and Larry Jordan repped the seller.
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City Office REIT purchased the 163k SF Lake Vista Pointe in Lewisville for $28M.
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South Texas Parts Addition purchased a one-acre parcel on FM 407 in Flower Mound. Silver Oak Commercial Realty’s Russ Webb repped the buyer. Stewart-Rose Properties’ Larry Rose repped the seller.
CONSTRUCTION & DEVELOPMENT
Toyota selected KDC to develop its new North American HQ campus in the Legacy West development in Plano. Toyota recently finalized the purchase of its HQ site and expects to begin occupying the campus in late 2016 or early 2017.
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Ironclad Performance Wear Corp is relocating its corporate HQ from El Segundo, Calif, into 13k SF in the 1900 block of Hutton Ct in Farmers Branch later this summer. The HQ should open by Sept 1.
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Tonti Properties plans to break ground Sept 1 on a new 345-unit multifamily project called Origin at Frisco Bridges in Frisco. The property was designed by Womack+Hampton and Balfour Beatty has been hired as the GC.
BUSINESS
Metropolis Investment Holdings selected Peloton Commercial Real Estate to oversee the property management of the 1.8M SF Bank of America Plaza at 901 Main St. Peloton currently leases the 72-story high-rise office building. Adam Bernhardt will lead the onsite property management team. Peloton will relocate its HQ to Bank of America Plaza, too.
THIS & THAT
Four critters went to their furever homes Friday as part of the Walnut Glen Tower annual Paws in the City adoption and ice cream social event on Friday. It’s the second year that the building’s property managers, Prescott Realty Group's Jamie Shea and Annette Steele, organized the event. Tenants also contributed $100 for the pet rescue.
