This Week's Dallas-Fort Worth Deal Sheet
Demand for healthcare in Dallas-Fort Worth is pushing healthcare systems to build new hospitals and expand existing ones.
Methodist Richardson Medical Center is expanding by 104K SF with the build-out of two floors on top of the existing hospital.
Richardson-based Skiles Group oversaw the $85M build-out, which includes the addition of 150 new acute care beds, a ninth operating room, seven pre-op rooms and two post anesthesia care beds.
Execs
Transwestern Development Co. hired Denton Walker this month to serve as regional partner and part of the firm's national logistics group.
Walker will oversee the company's logistics development projects in the Southwest, with Texas being one of his primary areas of focus.
Walker comes to Transwestern from Trammell Crow — a firm he served for three decades, overseeing industrial, office and retail development.
“Texas has experienced tremendous demand from a variety of industrial users, and there remains untapped opportunity in Texas and the Southwest region to create value for our partners and stakeholders,” Walker said in a statement.
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Legacy Partners hired multifamily expert Matt Brendel, naming him senior managing director of the Southwest this month.
Prior to joining Legacy Partners, Brendel served JPI as a divisional president and management partner and led the firm in numerous multifamily acquisition and development projects.
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Ryan Chambers joined Transwestern Commercial Services as a director within the firm's consulting services group.
Chambers will support the firm's data analytics projects and functions while working on the firm's national data projects to help drive Transwestern's business using analytics and quality intelligence.
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Jill Bayne, who has spent three decades in commercial real estate, just joined Vision Commercial Real Estate.
Bayne has extensive experience in dealing with income-producing assets, including office, medical, dental and retail properties, according to Vision Commercial.
Bayne previously served Alliance Commercial Real Estate Group, William C. Jennings Co., Tandy Corp. and The Shidler Group, among others.
Acquisitions
Los Angeles-based real estate investment firm BH Properties bought a 60K SF office building in Richardson. The property — 2021 Lakeside Blvd. — borders U.S. Highway 75 and has a prominent signage opportunity for a future tenant.
BH Properties leaned on its managing director of acquisitions in the Dallas office, Scott Henry, and Citadel Partners' Mac Morse to handle the transaction. The seller was represented by JLL's Jeff Wood.
Avison Young's Chuck Sellers is handling leasing activity for the property.
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Bemisal Enterprises purchased a 25K SF retail center at 5629 Texoma Parkway in Sherman, Texas, from Sangha Enterprises LLC.
Lee & Associates' Matt Thompson and Phil Rosenfeld represented the buyer.
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Commercial real estate brokerage Vision Commercial Real Estate opened a corporate headquarters in Grapevine after purchasing a 15K SF professional office center at 1340 South Main St.
The office center was brought into Vision Commercial's control with an 86% occupancy rate and is now 100% leased.
Vision Commercial operates in the Dallas-Fort Worth area and has more than 340 property listings across the metroplex.
Leases
Daylight Golf leased nearly 15K SF at 2505 East Grapevine Mills Road in Grapevine.
Henry S. Miller Vice President of Retail Andy Anderson represented the tenant while the landlord, CJK Grapevine Properties, hired The Woodmont Co.'s Derek Anthony.
The virtual golf facility will open with a full-service sports bar and restaurant in July.
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ETak Worldwide LLC leased 76K SF at 1010 East Ave. J in Grand Prairie from landlord Peak Capital Co. Lee & Associates' Robert Miller represented ETak, while NAI Capital represented the landlord.
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Rush Truck Leasing Inc. leased nearly 30K SF at 1900 East Division St. in Arlington from landlord Sutherland Lumber & Home Center. Lee & Associates' Mark Graybill and Colton Rhodes represented the landlord and the tenant.
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Landlord ATCAP Partners leased out 48K SF to Fulton Technologies at 1430 Bradley Lane in Carrollton. Holt Lunsford Commercial's Andrew Gilbert represented the landlord, while Mohr Partners' Brad Lipton represented the tenant.
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Beacon Sales Acquisition expanded to a full 19K SF at 1700 Tech Centre Parkway in Arlington. Holt Lunsford Commercial's Canon Shoults and Maddy Canty represented landlord Brookfield, while Mohr Partners' Steve Perkins represented the tenant.
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AGS Labs signed a 17K SF lease renewal at 4851-4871 Sharp St. in Dallas. Holt Lunsford Commercial's Canon Shoults and Maddy Canty represented the landlord, AEW Capital Management.
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Veolia ES Technical Solutions renewed a 20K SF lease at 208 Sentry Drive in Fort Worth. The landlord, Steppingstones/WCJ Investments, hired Holt Lunsford Commercial's George Jennings to represent it during negotiations.
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Red Door Corp. leased 15K SF at Fort Worth's Riverbend Business Park. Holt Lunsford represented the landlord, Riverbend Properties.
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Graybar Electric renewed a 14K SF lease at Carter Business Center in Fort Worth. Holt Lunsford's George Jennings represented the landlord, AEW, while Pinnacle Corporate Real Estate's Michael Voelker represented the tenant.
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Green Guard leased nearly 11K SF at Riverbend Business Park in Fort Worth. Holt Lunsford Commercial's Keaton Duhon and Jake Neal represented landlord Riverbend Properties while Transwestern's Jeff Givens negotiated for the tenant.
Financing
Berkadia procured $18.5M in financing to assist with the purchase of Mercer Park Apartments in Arlington, Texas.
Berkadia Director Josh Finley helped the buyer obtain a Freddie Mac loan offering four years of interest-only payments. With this financing, EB Real Estate Group completed its purchase of the multifamily property at 2014 Remington Drive in Arlington. EB Real Estate Group now has 1,300 DFW units under its umbrella.
Construction And Design
Gensler Dallas is the designer of record for Gaedeke Group's Two Legacy West office tower in Plano.
The tower, which will be delivered in 2022, sits next to One Legacy West, which is close to running out of leasable office space.
Gensler is tasked with creating a project that is environmentally connected to the area and focused on the wellness of tenants and visitors alike.
This Or That
The Homestead at Grandscape in The Colony is welcoming an eclectic vintage and handmade goods shop known as Magic Hour.
The brick-and-mortar retailer is expected to bring a unique shopping experience to The Colony's Grandscape development and follows on the heels of the store's previous opening and success in Dallas' Bishop Arts District.
“Our vision for Grandscape has always been to cultivate a mix of shops and experiences unlike any other, and by adding local businesses like Magic Hour, we are doing just that,” Grandscape President Jeff Lind said. “By featuring unique, handmade, artisan pieces, they offer a shopping experience that is truly one-of-a-kind."
