This Week's Dallas-Fort Worth Deal Sheet
The 200K SF One Bethany West Class-A office property in Allen is 40% leased a month before it's set to officially open.
Developed by Kaizen Development Partners, the property offers speculative office suites and 100K SF of contiguous block space on the fourth through seventh floors. On-site amenities include a tenant lounge, a conference center, a fitness center, men's and women's locker rooms, shower facilities, a putting green and a golf simulator.
Kaizen has signed more than 45K SF in new leases in just the last three weeks.
“It’s a privilege, to continue our collective vision of bringing employers of the highest regard to the city of Allen and more specifically to our campus at One Bethany,” Kaizen Development Partners' Derrick Evers said in a press statement. “We believe we are delivering a type of product that is very much needed and the market is fortunately proving our investment thesis to be right.”
JLL’s Blake Shipley and Chris Doggett are leading the marketing and leasing efforts for One Bethany West and One Bethany at Watters Creek.
EXECS
Jason Young joined Conor Commercial Real Estate as vice president of multifamily and Dallas market officer. He will oversee Texas multifamily efforts for Conor.
“Expanding into the Dallas multifamily market is something we’ve been planning for quite some time,” President David Friedman said.
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Architecture, interior design and engineering firm BKV Group named Tracey Bush director of business development for the Dallas office. Bush will oversee the Dallas studio as it handles more projects tied to the market-rate housing, student housing, commercial and hospitality sectors. Bush brings more than 25 years of experience in the business.
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Ethan Garner has joined JLL to lead its healthcare initiatives. In the position of South Central healthcare lead, Garner intends to expand into healthcare leasing and tenant representation in Dallas, Fort Worth, Austin, San Antonio and Kansas City.
ACQUISITIONS
A two-story Caliber Collision headquarters in Lewisville has been sold. The 80K SF office location is surrounded by major corporate headquarters. Marcus & Millichap's Alvin Mansour and Kevin Mansour represented the seller and found the buyer, an entity out of California that executed a 1031 exchange.
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Gene McCutchin purchased a 103-acre site on Farm-to-Market 455, east of FM 1385, in Pilot Point, Texas. The sellers, Ron Berlin and Eric Berlin, hired Davidson Bogel Real Estate’s Grant Brodeur to handle negotiations, while Younger Partners’ Ben McCutchin represented the buyer.
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Monitpora bought a 15K SF industrial building at 2505 Farrington St. in Dallas. Stream Realty Partners' Hanes Chatham negotiated the terms of the transaction.
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The 280-unit multifamily community known as River Park in Fort Worth has been sold to Westmount Realty Capital.
The apartment community is at 3309 River Park Drive in southwest Fort Worth. The 35-year-old property sits on 9.8 acres.
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Primos Unlimited Inc. bought a 33K SF office building at 10379 Plano Road in Garland. Stream Realty Partners' Ryan Wolcott and Adam Jones represented the buyer, while Cooper Commercial's Marshall Cooper represented the seller.
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Ricardo Rivera State Farm bought a Haltom City office building at 3525 Denton Highway. Stream Realty Partners' Vic Meyer and Jeff Rein represented the seller, the estate of Bill Carter.
LEASES
Ameriprise Financial announced plans to move its Dallas office location to The Terraces at Douglas Center, where it will lease close to 11K SF, occupying an entire penthouse floor.
The space chosen for the new office overlooks Preston Center and is near restaurant and retail outlets. The landlord, Lionstone Investments, was represented by JLL's Jeff Wood and T.D. Briggs, while Cushman & Wakefield's Mike Wyatt and Travis Boothe represented Ameriprise Financial.
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Investment manager and office building operator Accesso signed a new lease with tenant Concentra for 19K SF at 1849 Legacy Drive in Plano.
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Enagic USA leased 10K SF at Jupiter Business Park, an office building at 1111 Jupiter Road in Plano. Stream Realty Partners' Ryan Wolcott and James Mantzuranis represented the landlord, MoxieBridge.
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JMV Transport leased 52K SF at 2910-2920 East Avenue F in Arlington. Stream Realty Partners' Luke Davis, Sarah Ozanne and James Mantzuranis represented the landlord, Alpha Thirty LLC, while the tenant was represented by Wells CRE LLC.
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West Shore Home leased 22K SF at 13701 Hutton Drive in Farmers Branch. Stream Realty Partners' Jeremy Kelly and Jeff Rein represented landlord Entrada Partners, while Campbell Commercial Real Estate's Art Campbell represented the tenant.
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Perry's Steakhouse & Grille is moving from 2000 McKinney Ave. to 2100 Olive St. in Dallas. The new site will open on July 16 as Perry's Park District, occupying a two-story space inside the Residences at Park District at the corner of Woodall Rodgers Freeway and Olive Street with views of Klyde Warren Park and Downtown Dallas.
The new restaurant location received its look and feel from Aria Group Architects.
THIS OR THAT
Van Tuyl Cos. opened a business devoted to land acquisition deals known as VTLandGroup.
The division, which is based out of Phoenix, will target regional markets across the U.S., including Dallas. The purpose of the entity is to find, buy and develop raw land for a variety of uses.
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The Downtown Mesquite Development program is receiving national accolades for its downtown revitalization program.
The National Main Street Center recognized Mesquite for implementing major downtown improvements, including the $5.5M Front Street Station project that will create an event area, parking and numerous investments in downtown building facades and the creation of public events to activate the area.
Mesquite is the only first-year Main Street program to receive the designation.
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Experiential entertainment company Kilburn Live is bringing Cinema Pop-Ups, a new drive-in theater concept, to The Star in Frisco. Cinema Pop-Ups will set up in the Gaylord Lot at The Star, offering special movie features from July 1-5 and July 8-12.
