The Deal Sheet
Another fast-casual restaurant chain is coming to Dallas from Austin; this one will serving German street food. VERTSKEBAP is opening this month in Addison, with two more DFW sites slated to follow close behind.
Verts co-founder Dominik Stein (pictured here from a German blog post) tells us by the end of the year, Verts will have 20 stores, having opened three new Austin locations (the Mueller site in Austin is pictured below), six in Houston, and the three in the Metroplex. The firm will continue Texas expansions in Dallas, Houston, and San Antonio in 2015, too. Dominik says Dallas is not only a huge and attractive market, but is also the place to be for modern food concepts. “If we can be successful in Dallas, we can grow our concept in other parts of the US,” he says.
Verts co-founder Michael Heyne says the Addison and Walnut Hill locations are both hubs for higher-end fast casual and are in the heart of business districts and close to residential areas. The Lewisville store provides a more suburban market, which the chain has successfully done in both Austin and Houston, Michael says. The new locations include: Village on the Parkway (5100 Beltline Rd in Addison) opening in October; exterior loop of Vista Ridge Mall (859 SH 121 in Lewisville) in October; and Preston Hollow Village (northwest corner of 75/Walnut Hill in Dallas) in November. CBRE’s John Heffington, Andrew Wiley, and Michael Medean repped Verts.
LEASING
JPMorgan Chase signed a 23k SF lease at 545 E. John Carpenter Freeway in Las Colinas from Rosemont Realty. Rosemont Realty’s Kirby White repped the landlord. Transwestern’s Steve McCoy, Alan Harrington, and Breck Besserer repped the tenant.
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The Five Star Institute signed 13k SF lease at 1234 Medical District in Dallas. Lee & Associates’ Robert Miller repped the tenant. The Mercer Co repped the landlord.
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Half Price Books leased 10k SF at 100 South Central Expressway in Richardson. SRS Real Estate Partners' Tyler Isbell repped the landlord, Hartman Income REIT.
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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 with Martinelli Co’s Bill Martinelli. TRC’s David Levinson repped the landlord.
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YouFit Health Clubs signed a 20k SF lease at the southeast corner of MacArthur Boulevard and FM 3040 in Lewisville from Kimco Realty. The Retail Connection’s David Levinson repped the landlord. CBRE’s Michael Meaden and Zach Ballenger repped the tenant.
SALES
An affiliate of Fidelis Realty Partners purchased the 162k SF Eldorado Market Place at the corner of Eldorado Parkway and the Dallas North Tollway in Frisco from WD Eldorado & Tollway, an affiliate of Duggan Realty Advisors, and Waitt Investments. HFF’s Doug Hazelbaker and Ryan Shore repped the seller.
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Rosebriar Properties sold a site at Caruth Haven and US 75 to In-N-Out Burger. Rosebriar also signed IHOP on a build-to-suit lease in the development. Rosebriar’s Bill Hanks and Ryan Stewart negotiated the lease and sale transaction with In-N-Out.
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Southern Hills bought a 5.4-acre tract at the southeast quadrant of Custer Road and Collin McKinney Parkway at Craig Ranch in McKinney to develop office condos. UCR’s W. Thurston Witt and Tey Tiner repped both buyer and seller.
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Madera Residential sold the 192-unit Lakeside apartment property at 2500 Brown Blvd in Arlington to The Lighthouse Group (a 1031-exchange buyer). Marcus & Millichap’s Bard Hoover, Nick Fluellen, Will Balthrope, and Drew Kile repped the seller and the buyer.
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AADFW Properties purchased a 27k SF building at 1350 Westpark Way in Euless. NAI Robert Lynn’s Michael Newsome repped the seller. Providential Realty Partners’ Kevin Archer repped the buyer.
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Ugotem purchased a 2.04-acre tract at 3400 US Hwy 67 in Midlothian. NAI Robert Lynn’s Tom Heraty repped the seller. KW Commercial’s Shelley Green repped the buyer.
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An LLC purchased the 21k SF Legacy Marketplace at 9650 Legacy Dr in Fort Worth from a private investor. Marcus & Millichap’s Philip Levy repped both buyer and seller.
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Developer MQ Development Partners sold a 2.2-acre pad site at the Roanoke Gateway development on the northwest corner of SH 170 and SH 114 in Roanoke. The buyer plans to build an On the Border Mexican Grill & Cantina. Venture’s Ken Reimer, Edward Bogel, and David Davidson Jr repped the seller. HGA Holdings’ Kyle Anz repped the buyer.
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A private investor sold the 332-unit Ridgmar Square apartments at 2508 Ridgmar Blvd in Fort Worth to an investment group. Marcus & Millichap’s Al Silva repped both buyer and seller.
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A local investor purchased the 15k SF Carpenter Business Center MOB at 1340 Main St in Grapevine. Realty Capital Management’s Mark Boone repped the seller.
NEW CONSTRUCTION
Stoneleigh Cos re-branded its 20-story mixed-use luxury high-rise currently under construction at the northwest corner of McKinney Avenue and Routh Street to One Uptown. When completed in mid-2016, it will feature 198 luxury apartments, 19k SF of retail and restaurant space, and a 475-car underground parking garage. The project received its full building permit in September and began construction with excavation for the parking garage. Fogo de Chấo Churrascaria has leased space in the development, joining another premium restaurant, Style & Grace.
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Cawley Partners started construction on Legacy Center, an office building on 12 acres at the northwest corner of Legacy Drive and Hedgcoxe Road in Plano. The 175k SF building was designed by Morrison Dilworth + Walls architects and is being constructed by Spring Valley Construction Co. It should be ready for tenant move-in August 2015. Construction financing has been provided by American Bank of Texas. Cawley Parnters’ Randy Shipman and Addie Ludwig are handling the leasing.
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High Street Residential (the residential subsidiary of Trammell Crow Co) announces plans to build a 20-story, 271-unit, Class-A residential tower at 3230 McKinney Ave ( currently the site of a 5,500 SF Café Express). Along with residential units, the building will feature approximately 13k SF of ground floor retail that will anchored by a new Café Express.
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Construction started on the 72k SF Christian Care Centers senior center with 32 assisted living units and 36 memory care units near Hwy 5 and Bethany Drive in Allen. It will also include 22 independent living cottages, to be completed under separate contract. Adolfson & Peterson is building the project and REES Architects is designing it. Completion is scheduled for August 2015.
EXECUTIVE PEOPLE
Kara Rafferty joined Trademark Property Co as director of leasing. Most recently, she was VP for JLL.
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Wayne Burgdorf joined Coldwell Banker Commercial Alliance DFW as VP. He was previously at Burgdorf Realty Group and is bringing 30 land listings, as well as several properties for sale.
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Whit Kelly joined Transwestern’s Fort Worth office as principal. He comes from JLL, where was SVP. He’s spent most of his career specializing in leasing office space in Fort Worth for building owners, with assignments including 777 Main St. and 550 Bailey Ave. in Fort Worth.
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Paul Jankovsky joined Walker & Dunlop as SVP.
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Peloton promoted Aarica Mims to SVP; Jeff Wood to SVP; and John Dickenson to VP.
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Andrew Jones joined Hines as director of property management. He will manage One Victory Park, lead the DFW Metroplex property management team, and be responsible for client relationships as well as development of third-party property management business. Prior to joining Hines Interests, he was a VP at Cassidy Turley.
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David Pratt joined Trademark as VP for mall and lifestyle leasing. He will be responsible for leasing the company’s lifestyles centers and malls. He joins Trademark after 15 years with General Growth Properties, where he was senior director and VP of leasing.
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Henry S. Miller Cos promoted Darrell Hurmis to EVP/principal of the investments/land division and Dan Spika to EVP/principal of the industrial division at Henry S. Miller Brokerage. Darrell has worked with the company for more than 30 years. Dan joined Henry S. Miller in 1994.
