This Week's Dallas-Fort Worth Deal Sheet
Tile installation system supplier Schluter-Systems is the latest distribution center tenant to move into AllianceTexas.
The company announced plans for a 500K SF regional distribution center at Alliance Northport 1 in Northlake.
The facility, which is the company's first site in AllianceTexas, is located at the intersection of Interstate 35 West and State Highway 114.
Once the building opens in the first quarter, the site is expected to employ 300 associates.
“Schluter-Systems is the largest supplier of tile installation systems around the world, and Hillwood is proud to welcome them to AllianceTexas after a comprehensive search of the entire Dallas-Fort Worth market to find the best location for their new facility,” Hillwood Senior Vice President Tony Creme said.
Schluter-Systems hired Colliers International's Tom Pearson and Chris Teesdale to handle site selection and negotiations.
ACQUISITIONS
An undisclosed buyer purchased Lyles Industrial Park, a 48K SF industrial property in Garland. Marcus & Millichap's Adam Abushagur and Sam Martin had the property's exclusive listing and marketed it on behalf of the seller.
LEASES
Tennyson Office Center in Plano finalized a series of leases totaling 107K SF this past week, leaving the development with only 22K SF of leasable space left.
Located at 6100 and 6200 Tennyson Parkway in West Plano, the 250K SF development inked a 52K SF lease renewal with NCR Corp.; JLL's Doug Carignan and the late Steve Thelen represented the tenant.
CBRE's Clay Vaughn represented Nationwide Debt Direct in its procurement of 21K SF of office space for the company's Skybridge Financial debt settlement program.
Tech firm Critical Start signed a new 33K SF lease with the help of Henry S. Miller's Dan Polanchyk.
Sunwest Real Estate Group's Doug Hanna and Tabitha Layne represented Tennyson Office Center in all three deals.
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Emergent Cold signed a long-term lease for Hunt Southwest Real Estate Development's 300K SF speculative cold storage building at Carter Industrial Park in Fort Worth.
Located at 8200 Will Rogers Blvd. in South Fort Worth, the facility —known as DFW ColdSpot — offers access to Interstate 35 West and I-20.
CBRE's Food Facilities group brokered the deal with David Norrie representing Emergent Cold while David Sours and Kevin Kelly represented Hunt Southwest.
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Flexible office solutions provider WorkSuites signed a 10-year lease for nearly 20K SF in Allen Place I off Central Expressway.
The company expects to open this site this quarter at 450 Century Parkway in Allen.
Landlord Allen Place Office Building I LLC hired Bradford Commercial Real Estate Services' Richmond Collinsworth, Susan Singer and Jared Laake to lease the 89% occupied building. ESRP's John Pelletier represented the tenant.
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After completing a $2.5M renovation project, Sunwest Real Estate Group finalized a series of leases totaling 30K SF at its Preston Park office development in Plano.
Located at 1800 and 1820 Preston Park Blvd., the two-building development offers a total of 201K SF of leasable space.
Sunwest Real Estate Group, in partnership with Libitzky Property Cos., purchased the buildings in March 2018 and revamped the facilities' common areas, tenant lounges and conference center.
The buildings' newly signed tenants are:
- ConvergeOne Holdings, which signed a 6K SF lease with the help of CBRE's Noreen Mehdi.
- Catapult Staffing, which inked a deal for 7K SF in a direct deal.
- Infinitude Creative Group, which signed a 6K SF lease with the help of JWA Real Estate Advisors' Jeff Anderson.
- TMS Neuro Solutions, which grew its existing lease to a total of 10K SF.
- Texas Therapy Space, with a 3K SF lease. It was represented by JP & Associates Realtors' Mindy Neihaus.
Sunwest's Doug Hanna and Tabitha Layne represented the building owners on all five deals. Preston Park now has 30K SF of leasable space left for future tenants.
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Gergef Auto Parts leased a 111K SF warehouse at 4012 West Illinois Ave. in Dallas from Illinois Avenue Capital Partners LLC. Bradford Commercial Real Estate Services' Jim Ferris represented the tenant, while NAI Robert Lynn's Matt Elliot represented the landlord.
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Case Paper Co. renewed a lease for 25K SF at 2555 114th in Grand Prairie from landlord Michigan Texas Corp. Cushman & Wakefield's David Esekee represented the tenant, while Mercer Co.'s Corby Hodgkiss represented the landlord.
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Window World of Baton Rouge LLC inked a deal to renew a 28K SF lease at 2555 114th in Grand Prairie from landlord Columbia Texas PP Industrial L.P. Mercer Co.'s Corby Hodgkiss represented the tenant.
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JPI Multifamily Investments L.P. renewed its lease at 600 East Las Colinas Blvd. in Irving, expanding its lease by another 15K SF. In total, the company inked a deal for 47K SF. Cushman & Wakefield's Matt Heidelbaugh and Emily Hoffman represented the tenant, while Transwestern's Duane Henley represented landlord JCI 600 Las Colinas Inc.
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Burleson, Pate & Gibson renewed a lease for 11K SF in Founders Square at 900 Jackson St. in Dallas. Cushman & Wakefield's Bill McClung and Robbie Baty represented the tenant, while Fidelity Commercial Realty Management Co.'s Brent Steward represented the owner, Jackson Wood Ltd.
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Aerotek inked a deal for 11K SF of renewed space at 860 West Airport Freeway in Hurst. Cushman & Wakefield's Randy Cooper, Craig Wilson and Travis Boothe represented the tenant, while TXRE's Kolby Dickerson represented landlord HRE Liberty LLC.
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Quality Custom Distribution signed an 11K SF lease in Hall Park at 2801 Network Blvd. in Frisco. Cushman & Wakefield's Billy Gannon and Chon Kantikovit represented the tenant, while landlord Hall 2801 Network Associates was self-represented by Brad Gibson and Cynthia Cowen.
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Source One Spares LLC renewed and expanded its lease at 4302 Buckingham Road in Fort Worth by 15K SF for a total of 58K SF of leasable space. Cushman & Wakefield's David Eseke and Clay Balch represented the tenant, while Lincoln Property Co.'s Gil Stroube represented the landlord, Denali Texas Diplomacy Inc.
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Matheson Trucking Inc. signed a 47K SF lease in Freeport Corporate Center 12 at 3193 Bass Pro Drive in Grapevine. Cushman & Wakefield's Mark Collins and Dean Collins represented the tenant, while Prologis' Michael Flower represented landlord Prologis IV LLC.
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Stork H & E Turbo Blading Inc. leased 67K SF at Carter Distribution Center in Fort Worth. Holt Lunsford Commercial's Matt Carthey and Thomas Grafton represented the owner, Cabot, while Transwestern's Todd Hawpe represented the tenant.
CONSTRUCTION & DEVELOPMENT
A 90K SF, four-story office development is now in the works for West Plano's Mustang Square mixed-use development.
Thakkar Developers and Heady Investments revealed plans for the office product, known as HQ Center, this past week. The site is already 25% pre-leased.
Thakkar Developers also released plans for an upscale movie theater inside Mustang Square along with other dining and entertainment options. The entertainment and dining venues are already 50% pre-leased.
THIS OR THAT
Prepare for a sweet combination of vintage shopping and tasty treats with Brittany Cobb's Flea Style retail and food concept coming to The Star in Frisco.
Launched in 2009, Flea Style is about to offer Collin County shoppers vintage retail and flea market finds.
On Nov. 8, Flea Style will open a Frisco location with an accompanying eatery known as Heirloom Haul.
Heirloom Haul, located at 6765 Winning Drive in Frisco, is expected to offer a variety of casual dining options along with tea, beer and coffee.
