This Week's Dallas-Fort Worth Deal Sheet
Braniff International Airways hasn’t been an active airline in decades, but its training center for flight attendants in Dallas remains a vibrant real estate play.
The 59K SF Braniff Hostess College at 2801 Wycliff Ave. in Dallas is now in the hands of Centurion American, the developer behind The Statler hotel remodeling project in Dallas.
Marcus & Millichap’s Joe Santelli and Matthew Sheard held the exclusive listing for the building, and Davidson Bogel Real Estate's Jake Milner, David Davidson and Edward Bogel represented the buyer, Centurion American.
The building, constructed in 1968, functioned as a training center and dormitory for Braniff Airways’ flight attendants until it was converted into a retirement community known as Park Gate. Park Gate closed in 2015.
“We are seeing an influx of investors, both locally and on a national scale, purchasing infill Dallas properties due to the strong fundamentals and increasing density,” Sheard said. “Investors are targeting properties like the Wycliff asset, to be strongly positioned to capitalize the rising market trends in the urban core of Dallas.”
ACQUISITIONS
Cardinal Strategies Holdings purchased 1.25 acres at 2770 Capital St. in Wylie. Structure Commercial’s Don Wass negotiated the sale.
LEASES
Furniture maker Kimball is moving to The Union Dallas at 2300 North Field St. The company plans to lease 6K SF, bringing the 22-story building to 93% leased. The move-in date will be in early 2020.
CBRE’s Mike Cleary represented Kimball, while Peloton Commercial Real Estate’s John Brownlee and Gini Rounsaville represented the landlord.
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Closeout merchandise and excess inventory retailer Ollie’s Bargain Outlet is betting on the Fort Worth retail market with its recent decision to lease 39K SF inside Camp Bowie West Center.
The retail shopping center, located at 7909 Camp Bowie West Blvd. in Fort Worth, allows the national retailer to expand its Texas footprint.
The property’s owner, Sutherland Building Material Centers, hired NAI Robert Lynn’s Todd Hubbard, Jon McDaniel and Bobby Montgomery to represent it during the negotiations.
The shopping center is undergoing renovation.
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Mid-American Supply Corp. leased 45K SF at 10430 Shady Trail in Dallas from ICON Owner Pool 1 Texas LLC. Mercer Co.’s Tucker Cason represented the tenant, while CBRE’s Trevor Atkins and John Hendricks represented the landlord.
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Noetic Inc. leased 11K SF of warehouse space in Royal Freeport in Irving from Royal FP LLC. Bradford Commercial Real Estate Services’ Michael Spain and Jason Finch represented the landlord, while Stream Realty Partners’ Jeff Rein represented the tenant. The property is located at 4343 West Royal Lane in Irving.
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RMD Kwikform North America ground-leased 2.94 acres at 4700 Irving Blvd. in Dallas from landlord Trans Freight Inc.
Mercer Co.’s Jeremy Mercer and Turner Peterson represented the landlord.
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Keystone Tape & Supply of Texas leased 20K SF at Mercantile Distribution Center in Fort Worth. Holt Lunsford Commercial’s Thomas Grafton and George Jennings represented the tenant, while Mercantile Partners’ Andrew Ward represented the landlord.
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Real estate firm The Woodmont Co. helped negotiate a lease that will bring New Jersey-based Italian restaurant Strumolo’s into the Dallas suburb of Roanoke.
The Woodmont Co.’s Derek Anthony represented Strumolo’s, while landlord Newstream Commercial represented itself.
The restaurant will be situated inside 3K-plus SF at 310 North Oak St. alongside Roanoke’s Restaurant Row.
The restaurant serves Italian entrees from owner Vinnie Strumolo's list of family recipes.
