The Week in Deals Part 2
SALES
SkyWalker Property Partners acquired the 108k SF Chase Bank Center at 1301 S Bowen Rd in Arlington from Rosemont Realty. SkyWalker acquisition director Clint Holland and managing member Gary Walker negotiated the off-market acquisition.
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Encore Land, a division of the Encore Enterprises, purchased 23.5 acres for development in the second phase of the Jordan Run Estates subdivision of Midlothian one mile west of the intersection of FM 663 and FM 875. This is the second site Encore has acquired in the last 90 days. The project adds 20 new one-acre estate lots to the community. J Houston Custom Homes was selected as the home builder for the project.
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Megatel Homes III purchased a 13-acre tract at 3755 Carbon Rd in Irving from Jang’s Choice. Hudson Peters Commercial’s Sanober Syed repped the seller. J. J. Singh reppped the purchaser.
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Strategic Storage Trust purchased five self-storage properties in the DFW and Midland markets. All five facilities will be rebranded under the SmartStop Self Storage trade name. The Southwest portfolio totals nearly 400k SF and 2,800 units and was acquired for $28M. Among the portfolio are facilities at 810 S. Denton Tap Rd in Coppell, 1925 S Bowie Dr in Weatherford, 1712 W Randol Mill Rd in Arlington; and two in Midland.
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A Texas investment group purchased the 152-unit Sienna Palms apartments along Audelia Road in Dallas from Cash Investments of El Paso for $3.7M. Marcus & Millichap VP of investments Al Silva repped both buyer and seller. The property was on the market for just two days before an agreement was reached, and closed 26 days later.
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LMB Partnership sold two acres at the northeast corner of FM 54 and Westgate Way in Wylie to Cross Development CC Wylie. Henry S. Miller’s Tom Grunnah repped the seller. CBRE’s Daniel Taylor and Michael Meaden repped the buyer. In another CBRE deal, Paramount Growth Fund CH sold 32k SF at 1100, 1102, and 1012 Road to Six Flags St in Arlington to Ken Cox. CBRE’s Jim Whitten and Marty Neilon repped the seller.
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An institutional investment firm from California purchased the 60k SF Dilido Warehouse at 3680 Dilido Rd in Dallas from a partnership. Marcus & Millichap investment specialists Roger Hendricks and Myles Ytem repped both buyer and seller.
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Leon Capital Group closed on its purchase of a 12-acre site at the intersection of President George Bush Turnpike/SH 161 and North MacArthur Boulevard in Irving. The site will be home to a gourmet grocery-anchored development. Negotiations are ongoing with a nationally branded, gourmet grocery tenant, and an agreement is expected within the next few months with a goal of finalizing the architectural plans and engineering drawings by mid-2014, and breaking ground in the fall.
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2GR Equity JV’d with Legacy Capital on a 73-acre land investment including the northwest, northeast, and southeast corners of Chisholm Trail Parkway and Sycamore School Road, in addition to the northwest and southwest corners of Summer Creek Drive and Sycamore School Road. The property is currently zoned for commercial and retail uses, as well as mixed-use zoning that allows for high density multifamily. Legacy Capital originally assembled the land in 2006 and 2007 with an out-of-state equity partner which 2GR Equity negotiated directly with to acquire its interests in the property. With the new 27-mile Chisholm Trail Parkway nearing completion in spring 2014, interest in the property has already began to pick up and several offers are being negotiated by Transwestern retail services group.
LEASES
iGPS Logistics inked a 106k SF lease at 2200 Danieldale Rd in Lancaster. Colliers International’s Allen Gump and Allyson Gump along with Detroit Colliers reps Robert Badgero and Steven Badgero repped the tenant. JLL’s Nathan Orbin repped the landlord, PACGWL, an entity of Prologis.
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Savoya signed a 15k SF lease at 1845 Woodall Rogers Frwy in Dallas from 1845 WR Frwa. Savoya was repped by CRESA’s Pamela Mullins and Avison Young’s Kim Phillips. Colliers International’s David Quisenberry repped the landlord.
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Johnstone Supply leased 12k SF at 1307 N Watters Rd in Allen from Watters Road Investors. Bradford EVP Susan Singer and SVP Michael Grant, repped the landlord. Mohr Partners’ Mitch Kumin repped the tenant.
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Forever Gifts leased 13k SF at 2005 108th St in Grand Prairie. NAI Robert Lynn’s Michael Stanzel repped the tenant. CBRE’s Steve Koldyke repped the landlord.
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Dave & Buster’s leased 31k SF at 10796 N Stemmons in Dallas. NAI Robert Lynn’s Jim Svidron repped the tenant. Stream Realty repped the landlord.
KUDOS
Lee & Associates Dallas-Fort Worth principal Trey Fricke was one of the recipients of the 2013 Leaders of Lee award at the Lee broker’s summit, which was held recently in Las Vegas. The award was created to give recognition to those who have made exceptional contributions to the firm and the industry.
EXECUTIVE PEOPLE
Ryan Boozer joined Stream Realty Partners as SVP of the firm’s Dallas industrial division. In his new role, he will manage and direct all industrial tenant rep initiatives as well as providing project leasing, dispositions, acquisitions, and development services. He comes to Stream from a six-year tenure at Mercer Co, where he was VP.
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William Sale and Roy Reis joined Transwestern as VPs in its tenant advisory services practice in Dallas. Will focuses on lease negotiation and administration, strategic planning, and project management. He comes from CNL Commercial Real Estate. Roy will focus on strategic portfolio planning and management for local and national corporate clients. Prior to joining Transwestern, he was an account executive with the National Commercial Real Estate Co.
NEW BUSINESS
PrimaCare hired SRS Real Estate Partners to assist in expansion plans in the Metroplex. Currently, PrimaCare has 11 locations and is looking to add several more in the coming year. SRS will assist in identifying ideal locations in their targeted trade areas.
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Capridge Partners selected Stream Realty Partners to manage and lease its newly acquired 256k SF Gramercy Center I and II at 18583 & 18451 N Dallas Pkwy. Stream’s Matt Wieser and Ryan Evanich will be the leasing agents.
