The Week in Deals
Commercial real estate types have a heart for charity. Here's Cushman & Wakefield's Maureen Kelly, J. Michael Gosslee, and Mari Hinojosa Jones with Bank of America/Merrill Lynch's Regina Bruce at the 2013 Treasure Street event to benefit Texas Scottish Rite Hospital.
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Colliers and the Red Cross YPA partnered up to promote philanthropy at a young age. Here's Bank of Texas' Mattson Uihlein (YPA networking chair and event chair), MAPP Construction's Caroline Hurley (YPA founder and prez), Colliers International's Mary Stoner Yost (YPA liason), and the two event speakers Morgan Stanley Private Wealth Management's David Yost, and Colliers' Allen Gump.
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Fults Commercial Real Estate associate Gini Russell assumed the title of Tough Mudder, running the race in honor of her brother, a US Air Force fighter pilot scheduled for his fourth deployment next summer. The Tough Mudder organization supports the Wounded Warrior Project and Gini tells us she competed alongside a team of wounded warriors who defined what a bad-ass really is. Along with colleague, Tracy Fults, the duo was awarded the leasing of Regal Center at 8828 N Stemmons and Atrium at Campus Circle at 5800 Campus Circle.
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The Tribute Shoreline Nature Trail, a 4.4-mile loop alongside an area of the Old American Golf Club and through The Tribute peninsula, officially opened in The Colony. The project was developed through a public private partnership with the US Army Corps of Engineers, Texas Parks & Wildlife Department, the City of The Colony and developer, Matthews Southwest. The trail was designed as an environmentally sensitive project, with materials and routes carefully selected to minimize the impact on the surrounding natural environment. Here's Matthews Southwest prez Jack Matthews, The Colony councilman David Terre; and The Colony mayor Joe McCourry.
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Prescott Realty Group employees spent an afternoon at the North Texas Food Bank sorting through almost 22k pounds on 18 pallets providing 18,000 meals to hungry North Texans in need. Prescott employees annually volunteer at charitable organizations, but this is the first time at the food bank.
LEASES
Cassidy Turley repped the landlords in a pair of deals including CRC Insurance, which leased 25k SF at 13737 Noel Rd in Dallas. The tenant was repped by Cushman & Wakefield's Matt Heidelbaugh. Cassidy Turley's Chris Taylor and Trey Smith repped the landlord, Franklin Street Properties. In the second deal, One Network Enterprises leased 23k SF at 4055 Valley View Ln in Dallas. The tenant was repped by Cushman & Wakefield's Mike Wyatt. Trey repped the landlord, CREA / MacFarlan.
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Maniscalco Stone inked a 38k SF lease at 2330 Alberta Dr in Dallas from Prologis. CBRE's Nathan Lawrence repped the tenant. Prologis self-repped.
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Texas Family Fitness signed a 21k SF lease in space that currently houses Aaron's and Big Lots! at the Main Street and South Colony Boulevard in The Colony with a Q1 opening targeted. Retail Realty's Dan Avnery represented both Texas Family Fitness and the landlord.
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American Hotel Register leased 214k SF at 2828 Trade Center in Carrollton. JLL senior VP Nathan Orbin and VP Melissa Holland represented the tenant. CBRE first VP Steve Trese and senior associate Adam Hammack represented the landlord, PPF Industrial 2828 Trade Center Dr.
EXECUTIVE MOVES
Jarod Jaggers joined Whitestone REIT as a senior leasing agent. He comes from Pillar Commercial.
FINANCING
Beech Street Capital closed a Fannie Mae conventional loan for the off-market acquisition of the 416-unit Marbletree Apartments in Irving. SVP Larry Sneathern originated the transaction. The firm secured a 12-year loan at maximum leverage and 80% LTC, and three years interest only to provide capital for immediate repairs. About 95% of the units were updated within the last five years with new appliances, plumbing fixtures, lighting, and refinished cabinets, and countertops.
NEW BUSINESS
ML Realty Partners and Frontier Equity will start construction in January on a 15.5-acre site in the Valwood submarket at the corner of West Crosby Road and Hutton Drive. The Crosby Trade Center will include two industrial buildings totaling 296k SF. Holt Lunsford Commercial partner Jim Brice has been charged with overseeing the leasing of the development. The project will be leased and managed by Holt Lunsford Commercial.
SALES
5814 EK purchased a 48k SF industrial building at 5814 Everman Kennedale Rd in Kennedale. JLL's Jamie Galati repped the seller, Town North Bank. Transwestern's Jeff Givens repped the buyer.
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Hillwood Properties will build its 1M SF Alliance Center North and the 310k SF Gateway 57 industrial complex. Announced previously as a speculative build, Alliance Center North 1 will be completed as a build-to-suit. Construction on both Alliance Center North buildings will be complete by the end of May, and Gateway 57 will be complete in June.
