This Week's Dallas-Fort Worth Deal Sheet
Venture X coworking is ready to open another Dallas-Fort Worth location, this time in the suburb of Lewisville.
Developer Bright Realty confirmed Venture X is moving into the nine-story Offices at The Realm in Lewisville.
The building is part of a 324-acre, mixed-use lifestyle destination that will eventually feature a combination of office, dining, retail, entertainment and multifamily offerings.
Venture X plans to occupy 30K SF, the entire third floor of the building at State Highway 121, the Sam Rayburn Tollway and Josey Lane in Lewisville.
“Offices at The Realm is attractive to us for several reasons,” Venture X franchisee Ese Aihie said in a statement. “We appreciate its mixed-use design, with first-floor restaurant and retail; its location near DFW International Airport; the building’s advanced technology; and its proximity to employment hubs in nearby areas. We are excited to be here and look forward to everything The Realm community has to offer.”
The Venture X site will open in early 2020, offering members a café, a lounge, event space, networking events and coffee along with a fitness center, a conference center, rooftop deck seating and access to Crescent Park.
Bright Realty plans to move its headquarters to Offices at The Realm in October.
EXECS
Younger Partners hired Jerry Averyt in July. Averyt comes from Henry S. Miller Brokerage, where he served as senior vice president in the office and industrial division. Averyt has experience dealing with office, industrial and land sales, as well as investment properties. He has negotiated more than 550 lease transactions with a value of approximately $100M.
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Bright Realty hired Cole Claiborn as senior vice president to oversee projects related to the financing of special districts and the capital markets. Claiborn has spent 10 years in capital markets focusing primarily on municipal bonds. Before joining Bright Realty, he worked as an associate director for ORIX USA’s Municipal and Infrastructure Group.
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Kamecia Mason joined McCarthy Building Cos. as diversity director, Southern region. Mason is stepping into a new regional role for the company, which continues to expand upon its mission to promote diversity within the company and the greater construction industry.
Mason previously worked with organizations such as Parkland Hospital District, Dallas County, Trammell Crow, Houston Independent School District and DFW International Airport.
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Fischer & Co. hired Craig Jones and David Mickool as senior vice presidents over account management. Mickool will be based in Stamford, Connecticut, while Jones is based in Dallas-Fort Worth.
SALES
Transwestern Investment Group sold a 122K SF office building on behalf of Diversified International Partners Fund. The building is at 550 Bailey Ave. in Fort Worth. Transwestern’s Jim Sager represented the buyer. CBRE’s Gary Carr, John Alvarado and Robert Hill provided disposition services.
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ML Realty Partners acquired two fully leased buildings in Plano and Grand Prairie, bringing another 79K SF of leasable space into the company’s portfolio.
The first building acquired is 1001 Progress St. in Plano — a single-tenant, 50K SF industrial building leased by Coleman American Moving Services. The second facility is 918-920 Ave. N in Grand Prairie. This is a two-unit, 29K SF industrial building near Highway 360 and Highway 161.
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S2 Capital acquired Cypress Club Apartments at 2004 Sherry St. in Arlington. JLL Managing Director Mark Brandenburg obtained Freddie Mac financing to acquire the property.
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Clean Living RV Park, a gated recreational vehicle community in Azle, Texas, is up for sale with a price tag of $4.3M. The 10-acre property is in Parker County, Texas. Coldwell Banker Residential Brokerage’s Josh Winkler is handling the commercial listing.
FINANCING
JLL Capital Markets' Griffin Guthneck, CW Sheehan and Wes Wallace secured $6.2M in construction debt on behalf of Austin-based Central Southwest Texas Development to build Sachse Self-Storage.
The three-story Class-A facility will include 906 climate-controlled units with 91K SF of net rentable space. The site is at 7970 Woodbridge Parkway in Sachse.
Fidelity Bank provided the five-year nonrecourse loan. Construction will begin in the coming months.
CONSTRUCTION
The Trade Group selected Bob Moore Construction to build the company’s new headquarters in Grapevine.
The marketing and design firm intends to move to the new site on Genesis Way in Grapevine from its current location in Carrollton. Construction launched mid-July and will be complete sometime in mid-2020.
LEASES
Tiff’s Treats and Lambeau’s America Kitchen & Taps are joining the shopping center at 1701 Shoal Creek in Highland Village. JLL’s Austin Speni and Brenda Ford handled negotiations for the landlord, while Peloton’s Chris Wright represented Tiff’s Treats.
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Optimum Packaging renewed a 12K SF lease in DeSoto for warehouse space at 1707 Falcon Drive in Falcon Centre. Bradford Commercial Real Estate Services’ Michael Spain and Brian Pafford represented the landlord, OMO Bros. Enterprises.
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Mister Guns leased 10K SF of retail space at 2540 and 2560 East Plano Parkway in Plano. Structure Commercial’s Jeremy Cummings negotiated the lease.
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Nutravative Inc. leased 21K SF at 1305 North Watters Road in Allen. Holt Lunsford Commercial’s Josh Barnes and Ben Wallace represented the landlord, Link Industrial, while Lee & Associates’ Brett Lewis represented the tenant.
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Rehrig Pacific Co. signed a lease renewal for 127K SF at 613-625 Mockingbird Lane in Dallas. Holt Lunsford Commercial’s Canon Shoults represented landlord Alpha Industrial, while JLL’s Craig Jones represented the tenant.
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Guinco renewed a lease for 13K SF at Village Creek Business Park in Fort Worth. Holt Lunsford Commercial’s George Jennings and Thomas Grafton represented the landlord, TX Circle 182. NAI Robert Lynn’s Michael Newsome represented the tenant.
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The Hill, a mixed-use development at North Central Expressway and Walnut Hill Lane in Dallas, just added five retail tenants: F45 Training fitness site, Hello Dumpling, Kibble Pet Grooming, Pop Factory and Shine Hot Pilates + Sculpt.
