This Week's Dallas-Fort Worth Deal Sheet
A three-story healthcare facility sitting in the heart of West Plano with $22M in renovations underway is now on the sales block.
The property, 5120 Legacy Drive in Plano, offers potential buyers 101K SF and comes with a mainstay tenant in Denver-based Eating Recovery Center.
The tenant, which specializes in the treatment of eating disorders, has an 18-year lease.
The building sits on 7.25 acres inside Legacy Business Park not far from the J.C. Penney and Toyota headquarters.
Cushman & Wakefield's U.S. Healthcare Capital Markets team — Gino Lollio, Travis Ives, Scott Niedergang and Chris Barnet — is representing the seller, Cawley Partners.
Once renovations are complete, the tenant will have 72 inpatient hospital beds for eating disorder patients, making it the only provider in Texas with licensed inpatient beds held exclusively for the treatment of these diseases.
“This trophy property is essentially brand-new,” said Lollio, a managing director with Cushman. “The investments being made by the landlord and tenant in this mission-critical facility makes this an attractive opportunity for the right buyer.”
LEASES
Oil and gas company Pony Oil is moving its headquarters after inking a nearly 12K SF lease for office space inside 3100 Monticello Ave. in Uptown Dallas.
The building is owned by Prescott Group and recently underwent renovations.
Pony Oil is moving from 4245 North Central Expressway in Dallas. The company has been growing exponentially since its founding in 2012 and finally outgrew its Uptown location.
Pony Oil hired Cushman & Wakefield's Robbie Baty and Shannon Nehrig to search for a new site and to handle negotiations. Cushman's Kyle Bramlett and Wes Combs were chosen to oversee construction of the office.
Pony Oil plans to move early next year.
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Jetset Interiors leased 26K SF at 10410-10420 Miller Road in Dallas from landlord 10410-10420 Miller Road LLC. Mercer Co.'s Tucker Cason represented the tenant.
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Mansfield-based mixed-use development The Shops at Broad just added two tenants.
Located at the northeast corner of Highway 287, the 430K SF mixed-use development is now home to a Belk department store and a TJMaxx, both of which opened last month alongside a new Starbucks.
In addition, several new restaurant leases were signed with tenants including the 54th Street Grill, McAlister’s Deli, First Watch and Torchy’s Tacos.
CBRE's Andrew Lehner and Claire Galpern are marketing the development on behalf of Geyer Morris Co.
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Foam Packaging leased 27K SF at 1170 109th St. in Grand Prairie from 109th Mercer Properties. Mercer Co.'s David Guinn, Evan Webb and Corby Hodgkiss represented the landlord.
EXECS
Dosch Marshall Real Estate is expanding its Texas footprint with the opening of a North Texas division office in Dallas.
Trey McGhin joined the firm as vice president to lead the North Texas Division's buyer representative team.
Before joining Dosch Marshall Real Estate, McGhin served Marcus & Millichap as a senior associate in DFW, where he primarily focused on multifamily transactions.
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Law firm Peckar & Abramson P.C. hired Ian Fullington, who joins the practice with a focus on construction litigation, commercial dispute resolution and construction defect litigation.
THIS OR THAT
Craig Hall received the Vision Award from the North Texas District Council of the Urban Land Institute, which honored Hall at its Fifth Annual Impact Awards event held in Dallas Oct. 10.
More than 500 real estate leaders gathered in Dallas to celebrate Hall's career, which has spanned several decades.
Hall's many creations include Hall Office Park in Frisco and his innovative developments in the Dallas Arts District.
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The Shark Club sports grill in Plano — the brainchild of Dallas Stars owner Tom Gaglardi — is now open and offering patrons scrumptious dishes and panoramic TV screens. The club is connected to the Sandman Hotel.
