This Week's Dallas-Fort Worth Deal Sheet
The Offices at The Realm at Castle Hills just signed three new tenants, pushing the development's occupancy to 80%.
Inside the site featuring nine buildings, Global Medical Response leased 60K SF, or two full office floors, while CSC Corptax leased 15K SF and Texas VA Mortgage leased 4K SF.
Multiple brokerages were involved in the transactions: Lincoln Property Co.'s Worthey Wiles, Jake Young and Dalton Stogner represented Bright Realty, while brokers with Swearingen Realty Group, JLL and Cushman & Wakefield represented the three tenants.
EXECS
Kim Parker Schwimmer has launched Dynamic Commercial Real Estate in Dallas-Fort Worth. Schwimmer will serve as the new company's president while leading its focus on land acquisitions, sales and affordable housing development.
Joining Schwimmer is Director of Real Estate Keith Pomykal, who will oversee site selection, transactions, closings and all marketing functions.
Prior to forming DCRE, Schwimmer was president of RKS Group, leading brokerage and investment services. During her time there, she closed 128 land deals and co-developed nine affordable housing projects.
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Colliers International has added Jorg Mast and Chris Paul as executive vice presidents to form a team that will offer investment sales and capital markets services to clients. Before joining the firm, Mast spent six years at JLL. Mast brings with him Danny Miller, formerly of JLL, who will serve as a senior associate.
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Patricia Addington has joined The Real Estate Council as chief development officer. Addington has more than 22 years of experience in fundraising and previously served Southern Methodist University in Dallas, overseeing fundraising for the Annette Caldwell Simmons School of Education and Human Development.
SALES/ACQUISITIONS
A multifamily property portfolio featuring the Windham Chase apartments in Richardson and the Pinyon Point in North Dallas has been acquired by an undisclosed Dallas exchange buyer from a family office out of New York.
Rowan Multifamily Advisors handled both sides of the transaction, with Matt Waskow, Coleton Burch and Rowan Burch overseeing negotiations. Pinyon Point has 36 units, and Windham Chase has 236 apartments. The buyer plans to add value through interior and exterior renovations.
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A 39K SF site in Lewisville sold to accommodate construction of the future Castle Hills Auto Service. The shop will be near Old Denton and Parker roads. The buyer relied on Jordan Realty Advisors' Todd Stein, while Bright Realty's Nick Miller and Britton Lankford represented the seller, 2300 Parker LLC.
The sale leaves approximately 1 acre left for purchase near the Castle Hills Corner retail center. The site is close to the 140-acre Crown Centre corporate campus development.
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Generation Y bought a 114K SF industrial building at 2801 Summit Ave. in Plano. Stream Realty Partners' Jason Moser and Ridley Culp represented the buyer. CBRE's Kacy Jones and John Hendricks represented the seller, AIPH LLC.
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Eustorgio Trejo acquired an 18K SF industrial building at 2830 Ladybird Lane in Dallas. Stream Realty Partners' Hanes Chatham represented the buyer, while Lang Real Estate Services' Hans Moller represented the seller, Stemmons Industrial Partners LLC.
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An undisclosed buyer acquired 1200 Pioneer Road in Mesquite, a 92K SF space near Interstate 635. Vision Commercial Real Estate's Ked Cole handled negotiations for the buyer, while the seller was self-represented.
The property is zoned for a new retail center.
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MAG Capital Partners acquired a 139K SF industrial portfolio in a sale-leaseback transaction. The eight-building property sits at 5998 Eden Drive in Haltom City. The seller is San Francisco-based private equity firm P4G Capital.
SAB Capital's Bryan Huber represented the seller, while MAG Capital Partners was represented by Andy Rogers of Kelly Hart of Kelly Hart & Hallman LLP's Fort Worth office and Mary Garnett of Barnes and Thornburg LLP's Los Angeles office.
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The 85K SF Richland Commons, formerly a Havertys Furniture Store in North Richland Hills, has been sold. The site sits alongside Loop 820 on 4.26 acres.
Younger Partners’ Michael Ytem and Robert Grunnah represented the undisclosed seller, while Ready Real Estate’s Debbie Mullins represented the buyer.
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Enterprise America bought 2 acres at Ennis Crossing, I-45 and East Ennis Avenue, in Ennis. The 7-acre site will eventually become home to a 95-key Marriott Fairfield Inn.
Stream Realty Partners' Demian Salmon represented Enterprise America, while Segovia Retail Group's Jim Jamerson and Foremark's Chad DuBose handled the transaction on behalf of seller DA Ennis 45 Partners LP.
LEASES
Two Dallas office locations tied to the Frost Brown Todd law firm are being consolidated into one office location inside the Rosewood Court in Uptown Dallas. The firm will occupy a total of 30K SF on the ninth floor of the building.
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Istation has renewed a 50K SF lease for its headquarters at Campbell Centre in Dallas. E Smith Advisors' Emmitt Smith helped facilitate the lease renewal.
Newmark Knight Frank's John Wolf and Sara Fredericks represented Istation during the renewal process. The landlord and building owner is Haberman & Haberman.
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Kit Composites leased 49K SF at 119 Regal Row in Dallas from Lakawana Realty Development. Mercer Co.'s Jeremy Mercer represented the tenant.
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Gilbert Exposition Management Services leased 17K SF at 12684 International Parkway in Dallas from landlord Knopf Family Two LP. Mercer Co.'s Jeremy Mercer and Turner Petersen represented the landlord.
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Adonis Auto has leased nearly 16K SF at 8045 E R. L. Thorton in Dallas from landlord SBDAC LLC. Mercer Co.'s Corby Hodgkiss represented the tenant.
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Bradford Commercial Real Estate Services' Brock Wilson and Joe Santaularia handled a slew of leases:
- Curtis Specialized Moving & Storage signed a new expanded lease for nearly 84K SF inside the South Stemmons industrial submarket. The firm renewed a 43K SF lease at 460 West Mockingbird Lane and another 40K SF in Mockingbird Place. The Bradford team handled the leasing assignment for Mockingbird Place, which is owned by NWP TX TT LLC. CBRE's David Easterling represented the tenant.
- The same Bradford Commercial team represented Auzmet Architectural LLC in its renewal of a 22K SF lease at 1444 North Cockrell Hill Road in Dallas' Pinnacle Park. Lincoln Property Co.'s Gil Stroube represented the landlord, CAM Pinnacle Industries.
- Abel's Fine Furniture Movers Inc. renewed a 12K SF lease in Quebec Business Center at 4828 Lakawana St. in Dallas. The Bradford team assisted the landlord, NWP TX TT LLC.
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Everrich Industries Inc. renewed a 10K SF lease in Marsh Business Park West at 1050 Venture Court in Carrollton. NAI Robert Lynn's Chad Albert represented the tenant, while Bradford Commercial represented the landlord.
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Ministry Brands renewed its nearly 10K SF lease at 5000 Quorum Drive in Dallas. Stream Realty Partners' Ryan Evanich, Chase Lopez and Brandon Terrell represented the landlord, G&I VIII 5000 Quorum LP. ESRP Advisory Dallas represented the tenant.
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JHCC Texas Holdings LLC renewed its 20K SF lease at Northgate Distribution Center at 440 North Town East Blvd. in Mesquite. Stream Realty Partners' Matt Dornak and Adam Jones represented the landlord, DRA Advisors.
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Solutions413 renewed its 11K SF lease at 1355-1371 North Glenville Drive in Richardson. Holt Lunsford Commercial represented the landlord, Atlas 35-75 Industrial LP. Stream Realty Partners' Ryan Boozer and James Mantzuranis represented the tenant.
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The Blum Firm inked a 14K SF lease extension at 777 Main St. in Fort Worth. McLeod-Zei represented the firm, while Transwestern’s Whit Kelly and Dallas Margeson represented the landlord.
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Karen Samuelsohn inked a 10K SF lease with Dallas JDM Motors in Arlington. The site is located at 630 112th St. Transwestern’s Joe Rudd represented the landlord.
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4040 Forest Lane Partners renewed a 16K SF industrial lease with tenant C&R Trailer Repair Inc. at 810 Easy St. in Garland. The tenant was represented by Jim Struble Realty, while the landlord hired TIG Real Estate Services' Matt Spellman and Matthew Hickey.
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A new office concept, Cityscape Studios, is now leasing in Downtown Fort Worth. The 15 office suites range up to 570 SF and were developed by Charter Investments. Rates begin at $565 per month.
THIS OR THAT
Lincoln Property Co. is leaning on virtual office tours offered through Swivel AgileView to ensure brokers and tenants can view commercial spaces before signing new leases and returning to the office.
The tech tool offers 3D virtual tours and allows Lincoln Property Co. to keep tours going even as potential tenants remain wary of returning to public worksites.
