The Week in Deals
NEW BUSINESS
Prime A Investments, the new owner of a 187k SF Dallas Medical Center Office Plaza on the hospital campus of Dallas Medical Center at LBJ Freeway and Webb Chapel, tagged CBRE’s healthcare services group for management and leasing. Kelley Ahrens and Austin Barrett are the leasing agents and Nancy Edwards will be the property manager. The seller of the portfolio was Metrocrest Hospital Authority. The medical office buildings are 60% occupied.
LEASES
JW Logistics leased 16k SF at 2833 Eisenhower Dr in Carrollton from CW Lane Co. Bradford SVP Brian Pafford repped the landlord in the direct deal. Brian also repped Global OEM Parts (along with VP Jason Miller) in the 11k SF lease at 2701 Market St in Garland from DCT-TX 2004 RN Portfolio I. NAI Robert Lynn’s Stephen Cooper repped the landlord.
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99 Cents Only Stores Texas leased 19k SF at 401 E Camp Wisdom Rd, just south of I-20 in Duncanville. Venture Commercial’s Clay Mote and David Schnitzer repped the tenant. The Weitzman Group repped the landlord, BH Properties. In another Venture Commercial deal, Pier 1 Imports signed a lease to open a 12k SF space in the Shops at Vista Ridge at 500 E FM 3040 in Lewisville. Venture’s Larry Leon, Susan Ridley, and Ross McCook repped the tenant. Kimco Realty’s John Carter repped the landlord. The store is expected to open in Q1.
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Voguebay leased 19k SF at 2200 Big Town Blvd in Mesquite. NAI Robert Lynn’s Stephen Cooper repped the landlord. CBRE’s Travis Sapagh and Nathan Lawrence repped the tenant. Stephen (with Dave Peterson) also repped the landlord in a 24k SF lease with the City of Garland at 2350 Crist Rd. Transwestern’s Joe Whitmer repped the tenant.
SALES
Trammell Crow Co and JV partner Prudential Real Estate Investors purchased a 314-acre property at the northwest corner of I-35W and Eagle Parkway in northeast Fort Worth and started construction. The project, named Trammell Crow 35/Eagle, includes 1.6M SF of spec industrial space, making it the largest project of its kind in TCC’s 65-year history in DFW. The project is expected to be completed this year. Full build-out of the park will include more than 4.2M SF of office, retail, and industrial product.
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CAF Capital Partners purchased the 338-unit Arboretum Estates in Richardson. JLL managing director Jeff Price and SVP Bill Simmons repped the seller, The Connor Group. The project was 95% leased at time of sale.
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William R. Jackson Real Estate purchased a 15k SF office building at 14348 Proton Rd in Dallas. NAI Robert Lynn’s John McDaniel and Tom Lynn repped the seller.
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Preferred Power Coatings purchased a 60k SF building on 14 acres at 100 FM 148 in Terrell. Henry S. Miller Brokerage’s Scott Axelrod repped both buyer and seller.
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Boxer Property purchased The Centre office portfolio. It’s an 11-building, 817k SF campus at the corner of Alpha and Midway roads just off LBJ Freeway in Farmers Branch. Boxer is exploring the redevelopment of some of the property.
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2GR Equity JV'd with Dominus Commercial to buy an 82k SF five-story professional office building on Pioneer Parkway in Arlington. Dominus Commercial will provide leasing and management duties as well as oversee approximately $700k of capital improvements planned at the property.
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Legacy Texas Bank told a 21k SF industrial building at 1301 E Plano Pkwy in Plano to the Richardson Vietnamese Baptist Church. Lee & Associates’ George Tanghongs and Brett Lewis repped the seller.
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Retirement Realty Equities sold a 31k SF parcel of land with 3,000 SF of improvements at 8111 E RL Thornton to Waffle House. (We’re on our way for some covered and chunked hashbrowns as soon as it opens.) Centennial Real Estate Co assistant VP Daniel Rivas repped the buyer.
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Henry S. Miller Brokerage SVP Tom Grunnah and associate Kyle Ward repped Creekside South Apartments in the purchase of 17 acres of land at the northeast corner of McMillen and McCreary roads in Wylie from Creekside Development. This raw land is the last multifamily site of any size in Wylie and it is planned for a 252-unit development, which should start Q1.
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In another Henry S. Miller Brokerage deal, Dan Spika repped Altronic (the seller) in the disposition of its 17k SF industrial facility in Garland to A-1 Powder Coat. JLL’s Chris Stout repped the buyer.
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A private investor purchased the 62-unit Ambassador apartments at 511 Tierney Rd in Fort Worth from another private investor. Marcus & Millichap’s Stephen Crittenden repped both seller and buyer.
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McGray Group II sold a 20k SF office building at 2605 Northaven Rd in Dallas to Environmental Logistics. Lee & Associates’ Nathan Denton represented the seller. ReMax DFW’s Tracy Peterson repped the buyer.
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An LLC sold a 15k SF net-leased property (occupied by Walgreens) at 2774 E Eldorado Pkwy in Little Elm to a 1031 Exchange. Marcus & Millichap senior associate Geoff Ficke repped the seller and buyer.
