This Week's Dallas-Fort Worth Deal Sheet
The coronavirus slowdown is not halting office leasing or construction activity at Billingsley Co.'s Cypress Waters mixed-use development in Dallas-Fort Worth.
Billingsley Co. partner Lucy Burns announced four new tenants for office buildings at the site.
The development firm has three office buildings under construction at Cypress Waters: 3401, 3501 and 3200 Olympus.
The firm finalized construction on a fourth building, 3121 Olympus, last month.
Goosehead Insurance intends to occupy 12K SF on the fourth floor of 3401 Olympus Blvd., Artisan Design Group LLC will occupy more than 9K SF inside 3401 Olympus, Northstar Builders Group signed up for close to 6K SF inside 3401 Olympus, and Robert Half intends to occupy roughly 6K SF inside the existing building at 3121 Olympus Blvd.
Marijke Lantz represented Billingsley in each of these transactions, while CBRE's Ryan Buchanan, Josh White and Chelby Sanders represented Goosehead, Transwestern's Nathan Durham represented Northstar, JLL's Fiona Forkner represented Robert Half, and CBRE's Chelby Sanders and Ryan Buchanan represented Artisan.
“Billingsley is finishing two new buildings at Cypress Waters and leasing activity for 3401 and 3501 Olympus has been very strong over the last few months, with several deals still expected to sign soon," Burns said.
Billingsley Senior Vice President Marijke Lantz said the latest two buildings are on track to meet their intended completion dates despite the national coronavirus crisis.
"3401 Olympus is scheduled to deliver in May and 3501 will be right behind it delivering in June," Lantz said in a written statement. "Leasing will look a little different as well — we will be launching virtual tours soon and can currently do Facetime or Zoom tours with brokers and prospects.”
EXECS
Russell Ingrum is joining CBRE's Dallas office to lead the firm's institutional investment sales segment for the Texas capital markets division.
Ingrum is returning to Texas after serving as a senior leader for CBRE's Northern California Capital Markets division in the San Francisco Bay Area. In his time at CBRE, Ingrum has closed more than 850 equity sales across the country with a combined value of $36B.
SALES AND ACQUISITIONS
SkyWalker Property and Keller Williams jointly purchased the Waxahachie Daily Light building in Waxahachie from GateHouse Media Texas Holdings II.
The 12K SF building, located at 200 West Marvin Ave., previously served as home to GateHouse Media's newspaper management operations. GateHouse Media inked a 90-day sale-leaseback agreement to give the media company time to renovate and relocate to a new location.
Once GateHouse Media moves, the building will serve as Keller Williams' operations base in Ellis County. This is the second time Keller Williams has relied on SkyWalker Property's tenant-partnership program to acquire an office site in North Texas.
The official buyer of record is Second Hand News LLC. The buyer relied on SCM Real Estate Services' Renee Efimoff during negotiations, while the seller hired BellCornerstone's Greg Cleghorn.
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Skywalker Property sold a 20K SF office building at 3001 North Skyway Circle in Irving. The buyer is Dexperts Inc., which will be moving its cybersecurity headquarters to the site.
Hudson Peters Commercial's Michelle Hudson and Tom Hudson represented the seller, Life Is A Skyway LLC. Texas Key Real Estate Group's Lisa Linford negotiated for the buyer.
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The 352-unit Olympus on Main apartment community at 1011 South Main St. in Carrollton has been sold.
Nimes Real Estate purchased the property from Trammell Crow subsidiary High Street Residential and its partner Olympus Property.
The community comes with 4K SF of retail space leased by Barrel and Bones on the ground floor and is part of the transit-oriented Union at Carrollton Square development.
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A developer acquired 65 acres east of Oak Point in Denton County for a future development. The transaction was completed by Younger Partners land brokers Ben McCutchin and Michael Ytem.
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The city of Grand Prairie purchased more than 12 acres at 1901 South State Highway 161 in Grand Prairie. The site has easy access to the President George Bush Turnpike and Interstates 20 and 30. Stream Realty's Todd Noonan represented the seller, while Texas Lone Star Realtors' Pat Watson-Capps represented the buyer.
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The MedExpress at 3700 South Cooper St. in Arlington has been acquired by a 1031 exchange buyer. CBRE's Jared Aubrey, Michael Austry and Brad Benjamin helped arrange the all-cash sale.
LEASES
ISC Building Materials of Houston leased 51K SF of industrial space at 7900 Ambassador Row in Dallas from landlord ESOR Group Partners.
The tenant previously leased space at 1400 West Commerce St. in Dallas. CBRE's David Easterling represented the landlord, while Henry S. Miller's Dan Spika represented the tenant.
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TenantBase signed a new office lease at Northwood Tower at 5757 Alpha Road in Dallas to serve as the firm's Dallas headquarters.
TenantBase’s Shawn Hall and Brad Beutel handled negotiations on the tenant's behalf, while JLL's Trevor Franke and Andrew Scudder represented the property's ownership group, RTG Capital and Gault Co. on behalf of AMT Redevelopment LP.
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SCP Distributors renewed a 138K SF lease at Lakeside Trade Center in Flower Mound. Brett Owens with Transwestern represented the tenant, while CBRE's Steve Trese and Wilson Brown represented the landlord, Clarion Partners.
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Geodis inked a lease for 280K SF of industrial space at 5450 Kiest Blvd. in Dallas. CBRE's Ann Huntington represented Geodis while CBRE's Kacy Jones and Trapper Graff represented the landlord, Kiest Blvd LLC.
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Sealy Mattress leased 586K SF of industrial space at 2650 Rental Car Drive in Irving. CBRE's Steve Koldyke and Steve Trese represented the landlord, TCC Passport Park 2 LLC.
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AmerCareRoyal leased 390K SF of industrial space at 2401 Petty Place in Fort Worth. CBRE's Nathan Lawrence, Scott Moore and Krista Raymond represented the landlord, SPCH Fort Worth I, while Newmark Knight Frank's Garrett Gibbons and Lucas Kay represented AmerCareRoyal.
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Synnex Corp. leased 117K SF of industrial space at 1601 South Shiloh Road in Garland. CBRE's Trevor Atkins represented the tenant.
CORRECTION: APRIL 30, 5:00 P.M. CT: A previous version of this story misspelled the company name, AmerCareRoyal, and left out one of the representatives involved with the AmerCareRoyal transaction. The article has been updated.
