The Deal Sheet: Part 2

Frisco is becoming the sports mecca of the Metroplex. Performance Indoor Training (PIT) plans to break ground next week on a new 56k SF indoor soccer facility. (Now you can yell at the officials while enjoying air conditioning.)

The facility—7255 Meadow Hill Dr near the home of FC Dallas at Toyota Stadium—should open in the spring. It includes three indoor FIFA certified turf fields, three futsal fields (two indoor, one outdoor), one full-size outdoor field, two outdoor sand soccer pits, and an indoor training simulator (first of its kind in the US). A group of local soccer parents and investors coordinated an LLC (called Frisco Indoor Plex) to organize the $6M project, Frisco EDC prez Jim Gandy tells us. The City of Frisco is contributing $200k toward infrastructure costs through an economic incentive agreement.

Jim says the PIT will join a long list of Frisco sports facilities, including the Texas Rangers AA affiliate (pictured), the Dallas Stars corporate HQ and practice facility, and the FC Dallas stadium. This fall, a competitive swim facility is opening, and coming in 2016 will be the City of Frisco/Frisco ISD-owned, multi-use event center (hosting concerts, sports, and school events), which will also be the training facility for the Dallas Cowboys and include a high school football stadium.

Men’s Journal named the city the best place to raise an athlete. Jim (here at the Dallas Cowboys world HQ groundbreaking) says the soccer facility will not only help city residents, but will bring in tax dollars from the visiting athletes and tournaments. DesignWorks of Arlington is the project architect, Schmoldt Construction from Celina is the contractor, and Texas-based Carrihan Creative is managing marketing consulting and design. First National Bank Southwest is the project’s financing partner.

LEASES

With the 50k SF lease of Richardson Mercantile at Dal-Rich Village (southeast corner of Coit and Beltline roads) comes a rebranding of the center to Dal-Rich Towne Square. The Weitzman Group’s Michelle Caplan and Joey Keffler repped the shopping center in cooperation with Cencor asset managers David McNeil and Joe Lea. North Central Texas Realty’s Ryan Shafer repped the tenant.

***

Panda Energy and Panda Power Funds are moving their combined HQ to Providence Towers at 5001 Spring Valley in Dallas after more than three decades at 4100 Spring Valley Rd in Dallas. Cushman & Wakefield’s Robbie Baty, Charlie Beck, and Bill McClung repped Panda Energy and Panda Power Funds. Transwestern’s Kim Brooks, Scott Walker, and Justin Miller repped the owner, KBS Realty Advisors.

***

First Industrial Realty Trust signed a long-term, full-building lease for 377k SF with a food and beverage company at its First Pinnacle Industrial Center development in Dallas. The lease is expected to commence in Q2. First Industrial’s Royal Pratt, Robert Allen, and Chad Parrish are heading up the First Pinnacle development. CBRE’s Seth Kelly repped the tenant. First Industrial was assisted by JLL’s Terry Darrow and Nathan Orbin.

***

MedeAnalytics signed an 18k SF lease at 501 W President George Bush Tpk in Richardson. CBRE’s John Roper repped the tenant. Cassidy Turley’s Trey Smith, Ward Eastman, and Alexandra Jennings repped the landlord.

***

HomeZone inked a 20k SF lease at the southwest corner of Round Grove Road and MacArthur Boulevard in Lewisville from Kimco Lewisville. The Retail Connection’s Terry Syler and Scott Rose repped the tenant along with Martinelli Co’s Bill Martinelli. TRC’s David Levinson repped the landlord.

***

Fit Supply renewed a 50k SF lease at 1421-1425 Avenue R in Grand Prairie. Lee & Associates’ Mark Graybill and Scott Giordano repped the tenant. Proterra Properties’ Dan Lawson repped the landlord.

***

Spirit Halloween Super Stores signed a 15k SF lease at 3880 W Emporium Circle in Mesquite from Greenbrier Emporium. The Retail Connection’s David Levinson repped both tenant and landlord.

***

Allied Building Products signed a 30k SF lease at 1900 E Division St in Arlington. Lee & Associates’ Nathan Denton, Mark Graybill, and Scott Giordano repped the landlord, Sutherlands Lumber & Home. CBRE’s Brian Gilchrist repped the tenant.

SALES

Eldorado McKinney purchased the 208-unit Parkview Legends Apartments in McKinney as part of a 1031 exchange. JLL’s Jeff Price and David Fersing repped the seller, Sherman Residential.

***

Industrial Mancave purchased a 79k SF industrial building at 745 W Hurst Blvd in Hurst from Hurst Texas RE. Hudson Peters Commercial’s Shane Strickland repped the buyer.

***

Cawley Partners purchased the 240k SF Toll Hill Office Park (southeast corner of the Dallas North Tollway and Harvest Hill Road). Cawley plans $3M in project upgrades including renovations to the lobby, restrooms, parking, and landscaping. Cawley Partners’ Jeremy Duggins and Addie Ludwig are handling the leasing for the project. Cawley Partners also recently acquired The Overlook at Las Colinas.

***

David Stout sold 20k SF at 1101 Commerce St in Richardson. Stream’s Ryan Wolcott and Seth Koschak repped the buyer, Ro’s Village. Mark V Commercial’s Mike McCarten and Jeff White repped the seller. The duo also repped the buyer in the 55k SF sale at 2601 W Kingsley Rd. CBRE’s Corbin Crews represented the seller, CRP Holdings Kingsley.

***

3B Developers sold 11k SF on an acre at 123 E Sandy Lake Rd in Coppell to Montecito Real Estate Investments. CBRE’s Stroud Arthur and Ryan Byrne repped the seller. 

***

Montecito Real Estate Investments purchased a 22k SF industrial property at 1115 Duncan St. Axis Realty Group’s Alex Payne repped the seller. 

***

Axis Realty group repped GymCats Cheer in its 10k SF lease at 1210 Duncan St.

THIS & THAT

The North Texas Food Bank opened Our Community Pantry, a food pantry modeled on a grocery store, at 1502 Pennsylvania Ave in South Dallas and adjacent to St. Philip's School & Community Center. Trammell Crow Co and its consultants provided pro bono services, and the GC, Fast Trak, provided construction services at a reduced rate. Design and function were influenced by Kroger, which provided expertise to retrofit the space from a former liquor store. NTFB set a goal of distributing more than 25,000 pounds of food to more than 240 families through Our Community Pantry.

***

Jackson-Shaw, the developer of Parc Royal, challenged GSR Andrade Architects and Mycon Construction to see who could donate the most backpacks full of school supplies. As a group, 1,333 filled backpacks were collected. Jackson-Shaw and Mycon donated their packs to Community Partners and GSR donated to West Dallas Community Center.

***

FLIGHT young professionals organization recently mulched the playground for Vogel Alcove, a preschool for homeless children ages 6 weeks to 5 years old who are in Dallas shelters. FLIGHT young professionals prez Chrystal Morgan (SHOP Companies) says the next event will be the Flight for the Alcove Urban Race on Sept. 27 benefiting Vogel Alcove. It's a scavenger hunt across downtown Dallas. There are only 200 available spots and all proceeds go to the homeless children of Dallas who attend Vogel Alcove.