This Week's Dallas-Fort Worth Deal Sheet
As hospitality tries hard to make a comeback from the coronavirus shutdown, at least three new hotels are opening their doors in Dallas-Fort Worth.
On the heels of Sam Moon Group's Hyatt Regency Frisco hotel at Stonebriar Centre opening to the public June 1, NewcrestImage is opening its 150-room Canopy by Hilton hotel at Frisco Station in North Dallas and TI Group Inc. and Hotel Equities opened the Hampton Inn & Suites by Hilton-Keller Town Center.
The Canopy by Hilton is the third facility in NewcrestImage’s lifestyle hotel campus, which already opened two hotels in 2019: an AC Hotel and a Residence Inn.
“The opening of this Canopy symbolizes the story of hospitality’s comeback around the country and around the world,” NewcrestImage Chairman and CEO Mehul Patel said.
“Our company’s commitment to serve travelers is not a victim of coronavirus, and we have many hygiene procedures in place so guests can feel safe, comfortable and special.”
TI Group Inc.’s Hampton Inn & Suites is at 200 Town Center Lane in Keller right across from Keller City Hall. The hospitality venue is surrounded by shopping, dining and entertainment at Bear Creek Parkway and Rufe Snow Drive.
TI Group Inc. owns the property, while Hotel Equities is the property manager.
EXECS
BOK Financial has promoted Mandy Austin to market president in Dallas for Bank of Texas.
Austin joined the bank as part of its management training program in 2006 and continued to ascend through the ranks of the corporate banking group, recently holding the position of corporate banking manager. She is a graduate of the Cox School of Business at Southern Methodist University where she received both bachelor's and master's degrees.
BOK Financial also named Mark Wade executive director of the bank’s commercial banking division.
Wade, who is based out of Dallas, will oversee the commercial banking division after holding several executive roles within the company.
Wade joined BOK Financial in 2001 as a corporate banking manager and then launched the healthcare banking division for Texas and created the heavy equipment group, now known as the commercial finance group.
Twelve years ago, he was named president and chief operating officer.
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Brent Bosworth and Ross Farance joined Paladin Partners, with Bosworth serving as vice president overseeing business development and client services and Farance named vice president of space optimization.
Prior to joining the firm, Brent served Landry Commercial. Ross spent a decade in the material handling industry with a specialization in the handling of equipment and space savings solutions.
ACQUISITIONS
Market Space Capital purchased 6.1 acres that were once part of the Dallas Medical Hospital Campus on the north side of LBJ Freeway at Webb Chapel in Farmers Branch. The site will be used to develop age-restricted apartments called The Spot at Myra Lane. Transwestern’s Tom Clarke represented the buyer.
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Wireline Properties LLC sold a 10K SF industrial building at 3020 Wichita Court in Fort Worth to 3228 Halifax LP. Focus Service Group’s Weldon Davis represented the buyer, while Stream Realty Partners’ Jeff Rein represented the seller.
LEASES
Japanese lifestyle retail brand Teso Life will open its first store outside of New York in Dallas-Fort Worth, with Carrollton Town Center serving as its landing spot. The retailer leased 14K SF of retail space inside the 154K SF retail center at the President George Bush Turnpike-Old Denton Road intersection in Carrollton.
NewQuest Properties’ Heather Nyugen handled negotiations for the landlord, while NewQuest’s John Nguyen and Grace La represented the tenant.
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Heritage Auctions moved its headquarters from Maple Avenue in Dallas to 2801 West Airport Freeway in Dallas, where it will occupy a 160K SF building adjacent to Dallas-Fort Worth International Airport.
Transwestern’s Nora Hogan, Robert Deptula and Jordan Wade represented the tenant, while HPI Real Estate Services and Investments’ Mark Hayes represented the landlord, Bandera Ventures.
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Plant Interscapes Inc. renewed its 10K SF lease at Mañana I-35 Business Center, 10730-10768 North Stemmons Freeway in Dallas. The landlord, DRA Advisors, relied on Stream Realty Partners’ Drew Feagin and Todd Poticny, while Whitebox Real Estate represented the tenant.
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Arizona Tile renewed its 100K SF lease within the International Commerce Park at 2701 Regent Blvd. in Irving. Stream Realty Partners’ Blake Kendrick, Jeremy Kelly and Sarah Ozanne represented landlord Link Industrial Properties. Newmark Knight Frank represented the tenant.
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CKS Packaging leased 50K SF at 2829 Merrell Road in Dallas from landlord Gillis Thomas LP. Stream Realty Partners’ Ryan Boozer and Lena Pierce represented the tenant.
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Ace Hardware leased 18K SF of retail space at 2110 South Cooper St. in Arlington. Structure Commercial’s Troy Morgan negotiated the lease terms.
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Bittano Boutique leased an undisclosed amount of space at 4350 Lovers Lane in University Park from Northside Lovers Lane Ltd. Bradford Commercial Real Estate Services’ Kyle Espie represented the tenant, while Benton Rutledge of Concord Capital Partners represented the landlord.
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RPMxConstruction inked a nearly 13K SF lease extension at 5208 Tennyson at Tollway North Office Park in Plano. Transwestern’s Justin Miller and Kim Brooks represented the landlord, while Morrow Hill’s David Balogun represented RPMxConstruction.
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Flint Group Packaging Inks North America Corp. leased 29K SF at Dallas Corporate Center, 11625 Columbia Center Drive in Dallas. Newmark Knight Frank’s Cole Collins and Gary Lindsey represented the tenant, while Prologis represented the landlord, PLDAB LLC.
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Planet Home Lending LLC expanded its lease and entered into an extension for 35K SF at Riverside Commons Building 3, at 5020 Riverside in Irving. Newmark Knight Frank’s John Wolf represented the tenant while Cushman & Wakefield represented the landlord, BSREP Riverside LLC.
THIS OR THAT
The 16-story luxury condo tower known as Lakeside Tower overlooking Lake Grapevine in Flower Mound is now open. The site is the product of Lakeside master developer Realty Capital Management LLC and has 48 condo units, four villas at the ground level and two bungalows.
Realty Capital Partners and Colorado-based Real Capital Solutions offered up the equity for the project while Trez Capital and Prosperity Bank provided the debt to cover the development's financing.
