This Week's Dallas-Fort Worth Deal Sheet
A Las Colinas office building with the potential to serve as a landing pad for large corporate tenants is undergoing extensive renovations.
Sunwest Real Estate Group acquired the 160K SF 2901 Kinwest Parkway property in Las Colinas this year and partnered with Entos Design to revamp the site, turning it into a modern corporate campus. Once renovations are complete, the site will feature an indoor-outdoor courtyard, an arcade-inspired lounge and cafe, a renovated lobby, upgraded conference facilities and improved exterior facades.
The property is located between LBJ Freeway and Highway 114, with easy access to Dallas-Fort Worth Airport. The revamped office building is set to go to market in late 2020.
The property is slated to come online as DFW brokers and market experts envision more companies shopping North Texas for potential corporate campus relocations.
SALES/ACQUISITIONS
Two buildings with long-term net leases to Xplor Preschools in Mansfield and Carrollton have sold.
STRIVE represented the Dallas-based seller and also found the buyer. The Mansfield site is in a market where the population has increased 85% since 2010. The Carrollton location is adjacent to President George Bush Turnpike, and its nearby population has grown by more than 34% in the past decade.
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As the used car market expands, existing facilities designed for automobile uses are rapidly becoming acquisition targets, according to Henry S. Miller Brokerage.
Henry S. Miller's Bill Bledsoe handled two closings related to auto service centers and showrooms in the past month. The first sale involved Garland Road Holdings LLC, dba Auto Liquidators of Dallas, purchasing a 10K SF building on 1.45 acres at 12180 Garland Road. Bledsoe represented the seller, Verde Investments Inc., as well as the buyer. Auto Liquidators will use the site for auto sales.
Kayi Realty, dba ADL Auto Sales out of McKinney, also acquired an auto showroom that sits on 1.78 acres at 8312 Camp Bowie West in Fort Worth. Bledsoe represented the seller, Allen Samuels Realty, along with the buyer.
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A dental office sitting on heavily trafficked Preston Road in Frisco is about to become a retail site. Linrfa LLC acquired 7680 Preston Road from Leon Capital Group and intends to transition it to a retail asset. The seller is LCP Preston Rd VB Frisco LLC.
Younger Partners' Elaine Xu and Nan Li represented the buyer, while Leon Capital Group's Daniel Morales represented the seller.
LEASES
A Class-A industrial building at 1901 Lakeside Parkway in Flower Mound has a new 198K SF tenant, telecom asset management firm Teltech Group. The building is now 100% occupied.
Huntington Industrial Partners developed the site in the Lakeside Business District to create a high-quality industrial asset near Dallas-Fort Worth International Airport.
Transwestern's John Fulton and Brett Owens represented the building owner, Black Creek Group, during negotiations with the tenant.
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Perdure Petroleum LLC leased 17K SF of office space at the Office Campus at Allen for its expanding headquarters in North Texas. The oil and gas firm plans to relocate to the site in the fourth quarter of this year.
The move to 1101 Central Expressway South in Allen is part of the organization's plan to consolidate its Houston and Dallas offices and expands its corporate office by about 10K SF.
The landlord, 1101 SCE LLC, relied on Bradford Commercial Real Estate Services' Susan Singer and Jared Laake, while the tenant was represented by JE Commercial Realty LLC's Jan Elwell.
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Commerce Bank signed on as a tenant at The Crescent in Dallas and plans to occupy just under 10K SF within the 200 Building.
CBRE’s Phil Puckett, Neal Puckett and Harlan Davis represented Commerce Bank, while Tony Click and Marissa Parkin represented the institutional ownership group. Commerce Bank is moving from Harwood No. 4 in the Harwood District of Dallas.
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Cintas renewed a 12K SF lease at Arlington Industrial at 751 109th St. in Arlington. Transwestern’s John Brewer and Riley Maxwell represented the landlord, while CBRE's Travis Sapaugh and Reid Leinbaugh represented Cintas.
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Cavalry Construction Co. signed a 10K SF lease at Royal Ridge Business Park at 8105 North Belt Line Road in Irving. JLL represented the landlord, Hay and Jones, while Stream Realty Partners' Mac Hall represented the tenant.
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Home Delivery of Houston leased more than 11K SF at Perimeter Distribution Center, 12591-12623 Perimeter Drive in Dallas. Stream Realty's Adam Jones represented the tenant, while CBRE represented landlord WPI Perimeter LLC.
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Texas Wholesale Computers leased 81K SF at 2755-2975 Miller Park North in Garland. Holt Lunsford Commercial's Josh Barnes and Ben Wallace represented the landlord, TA Realty. Citadel Partners Andy Goldston represented the tenant.
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Coats Natural Technology LLC leased 38K SF at 640 International Parkway in Dallas. Holt Lunsford Commercial's Josh Barnes and Ben Wallace represented the landlord, DSP Partners. Coats Realty's Noelle Coats represented the tenant.
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Roger Ward leased 27K SF at 10350-10390 Brockwood Road in Dallas. Holt Lunsford Commercial's Josh Barnes and Ben Wallace represented the landlord, Cabot Properties, while Lee & Associates' Brett Lewis represented the tenant.
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Finetechwin renewed a 21K SF lease at 1201-1299 Commerce Drive in Dallas. Holt Lunsford Commercial's Josh Barnes and Ben Wallace represented the landlord, ATCAP Partners.
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AAxion renewed a 14K SF lease at 3630 West Miller Road in Garland. Holt Lunsford Commercial's Josh Barnes and Ben Wallace represented the landlord, TA Realty. Lee & Associates' Taylor Stell represented the tenant.
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TNT Cosplay Supply leased 12K SF at 3225 Garden Brook in Carrollton. Holt Lunsford Commercial's Andrew Gilbert, Josh Barnes and Ben Wallace represented the landlord, Stonelake Capital Partners, while NAI Robert Lynn's Tyler Tillery represented the tenant.
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Texas Fire & Sound Inc. renewed its 10K SF lease at 10451 Brockwood in Dallas. Holt Lunsford Commercial's Josh Barnes and Ben Wallace represented the landlord, Taurus Investment Holdings, while NAI Robert Lynn's Stephen Cooper represented the tenant.
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Method Pharmaceuticals leased 20K SF at Southlake Business Park in Southlake. Holt Lunsford Commercial's Matt Carthey and George Jennings represented the landlord, Southlake Business Park, while Transwestern's Frank Jester represented the tenant.
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Security Dealer Funding renewed its lease of 10K SF at Riverbend Business Park in Fort Worth. Holt Lunsford Commercial's Keaton Duhon and Jake Neal represented the landlord, Riverbend Properties.
