The Deal Sheet
Could Top Golf be coming to Alliance? (Our near 90-degree slice could certainly use it.) Hillwood chairman Ross Perot Jr hinted that there's some discussions in the works. He promises a cool line-up of new restaurants coming along with 100k SF of new retail under construction. We're already salivating after seeing the Raising Cane's location going up.
Ross (center between BNSF economic development director Michael Devine and Freese & Nichols CEO and Fort Worth Chamber of Commerce chairman Bob Pence at the Fort Worth Chamber luncheon Tuesday) says Alliance is still acquiring land all around the industrial airport with plans for expansion. Alliance hit 100% warehouse occupancy in 2013, which Ross says is "great, but we always want space available for new or expanding clients." There’s a new hotel breaking ground in the next week or two and 3M SF of spec industrial space under construction. He’s anticipating an announcement on a second hotel soon, as well. A little trivia: Ross loves to fly helicopters and was the first to complete a round-the-world flight by helicopter in 1982. The helicopter he used is on display at the Smithsonian.
SALES
Behringer Harvard Opportunity REIT II acquired the 435-unit Lakewood Flats multifamily community in the Lakewood submarket. Behringer’s opportunity platform CEO Michael O’Hanlon says Lakewood Flats provided an attractive opportunity to acquire a recently constructed, stabilized and cash-flowing asset in a desirable infill market with strong fundamentals and high barriers to entry.
***
HFF closed the sale of and arranged financing for Summit Office Park, a two-building, 243k SF Class-A office complex at 1200 and 1300 Summit Ave in Fort Worth. HFF marketed the property on behalf of the seller, Prescott Group. Pennybacker Capital purchased the asset and HFF assisted in securing acquisition financing on behalf of the buyer. The seven-year loan was provided by ViewPoint Bank. The HFF debt placement team was led by senior managing director Travis Anderson and managing director Steve Heldenfels.
***
Mannat Properties purchased a 24k SF office/flex property at 1303 and 1307 N Glenville in Richardson. Hudson Peters Commercial’s Debi Carter repped the buyer. Pacific Century Realty’s Alfred Goh repped the seller.
***
Trademark Property Co, in partnership with Sarofim Realty Advisors, closed on the acquisition of 63 acres of infill land located on the Trinity River at Bryant Irvin Road and Arborlawn Drive that will be home to Waterside, a new, mixed-use development. Phase I construction starts this week and will include anchor tenant Whole Foods Market, retail, restaurants, and 375 high-end, multifamily rental homes built by Transwestern Development Co. Phase I is slated to open spring 2016. Trademark purchased the land from Bryant Irvin Recreation Complex, formerly Lockheed Martin Recreation Association, which owned 81 acres at the future location of Waterside. Trademark has partnered with San Francisco-based Field Paoli as lead architect and Denver-based Stantec Vibe in charge of placemaking, environmental graphics and landscape. Additionally, Fort Worth-based Kimley Horn & Associates will lead the civil engineering efforts with EMJ Construction building the project.
***
Encore Retail acquired land to develop a 20-acre Class-A neighborhood retail development at the northeast intersection of Custer and Stacy Roads in Craig Ranch. The project will be known as Marketplace at Craig Ranch and will be anchored by a grocer with inline retail space, as well as five outparcel pad sites along Custer and Stacy Roads.
***
FTK Construction Services bought a 40k SF building on 3.8 acres in Allen with the help of Citadel Partners co-managing partner Scott Morse and advisor Alex Reedy. The site will be converted into FTK’s new HQ, with portions leased out to other businesses. FTK sold a portion of property to 9 Band Brewery.
***
Vesgro Corp purchased a 48k SF industrial building at 2514 National Dr in Garland. Lee & Associates’ George Tanghongs and Brett Lewis repped the buyer. The seller was repped by Colliers International.
***
A group of private local and international investors purchased the 235k SF Belo Building in downtown Dallas from Gannett Co. Cushman & Wakefield’s Grant Pruitt and Maureen Kelly repped the buyers.
***
Zena Land Development recently purchased 182 acres of raw land and 31 finished lots in the Seventeen Lakes subdivision in North Fort Worth. Stratford Group repped the seller, Seventeen Lakes, a partnership led by Pete Moore and Jeff Ledyard at Windridge Real Estate.
***
Panther FW Investments, in partnership with a local multifamily investment group, purchased the 256-unit Kensington Park Apartments at the corner of Beltline Road and Country Club Drive in Irving. Panther plans to increase rental revenue through interior and exterior upgrades.
***
Copaken Brooks purchased two buildings of the four-building industrial portfolio at 4555 Excel Pkwy and 16750 Westgrove Rd in Addison. The buildings are 100% leased. The purchase was sponsored by Copaken Brooks Private Capital.
EXECUTIVE PEOPLE
The LaSalle Group appointed Brenda Abbott-Shultz as the company’s VP of healthcare. She will oversee healthcare operations in the company’s Autumn Leaves communities. Most recently, she served as CEO for Velacare in Boston providing clinical and operational consulting to small to mid-sized senior housing organizations.
***
Mitch Owen joined Citadel Partners as director of project management. Prior to joining Citadel, Mitch served as president and owner of Tri-Tex Construction.
***
Jeanette Rice joined CBRE Group as Americas head of investment research to lead its research efforts focused on the investment market in the Americas. She will manage the investment and strategy team within CBRE’s research group, developing analysis and insight on investment opportunities across the region.
***
Marcus & Millichap named Geoff Ficke associate VP investments in the Dallas office. Geoff joined the team in October 2008 and specializes in single-tenant office and industrial property sales, and he is currently an associate director in Marcus & Millichap’s national office and industrial properties group.
KUDOS
The Stream Dallas office hosted its annual Pink Out event for National Breast Cancer Awareness Month.
***
SRS Real Estate Partners and Cypress Equities participated in the Walk to End Alzheimer’s in Dallas raising more than $5,000 for Alzheimer’s research.
***
Savills Studley’s Dallas office joined in the firm's national Denim Days as part of Breast Cancer Awareness Month. The Dallas office is specifically devoted to these efforts because two of their employees are survivors, Judy Habel and Jeanine Kinlaw. For a $5 donation, staffers could slip on their jeans for work. Employee donations have raised almost $12k so far this year, which the company will match to donate to the American Cancer Society.
LEASES
Lewis Brisbois Bisgaard & Smith leased 30k SF at 2100 Ross in Dallas. Cassidy Turley’s Randy Cooper, Craig Wilson, Frank McCafferty, and Jonathan Larsen repped the tenant. The landlord, Cousins Properties, was repped by Cushman & Wakefield’s Cynthia Cowen and William Brokaw.
***
Freedom Powersports of Carrollton leased 20k SF at 13700 Stemmons Frwy in Farmers Branch from Dove Creek Investment. Bradford’s Susan Singer repped the landlord in the direct deal.
***
Samsung Telecommunications leased 44k SF at 1100 Klein Rd in Plano. Lee & Associates’ George Tanghongs and Brett Lewis repped the landlord, Cobalt Capital Partners. The tenant was repped by CBRE.
***
Navistar leased 360k SF at 4038 Rock Quarry Rd in Dallas. Holt Lunsford Commercial’s John Gorman repped the owner, TA Associates. JLL’s Nathan Orbin repped the tenant.
***
Noble Logistics leased 46k SF at 8101 Tristar Dr in Irving. Holt Lunsford Commercial’s Canon Shoults repped the owner, AEW. Bradford’s Brock Wilson and Joe Santaularia repped the tenant.
***
Premier Install Movers leased 48k SF at 1002 Avenue T in Grand Prairie. Holt Lunsford Commercial’s Canon Shoults repped the owner, Mayfield. Biel Partners prez John Bielamowicz (formerly of Henry S. Miller Brokerage) repped the tenant.
