This Week's Dallas-Fort Worth Deal Sheet
Renovations on a three-story redeveloped Dallas Can Academy in Old East Dallas are now complete, allowing the developer, M2G Ventures, to sign its first tenant: the Savrick, Schumann, Johnson, McGarr, Kaminski & Shirley LLP law firm.
Developer M2G Ventures officially brought the Bogart mixed-use development at 4621 Ross Ave. to market this year.
The new office destination, which used to be an educational facility, comes with 50K SF of Class-A mixed-use office space adorned with public art and linked to a coffee shop that overlooks Ross Avenue.
To revitalize the building, M2G Ventures added a sculpture garden, modern glass stairways and contemporary art throughout the building while filling it with an exercise facility, an employee lounge, an outdoor terrace and a Zen library. Savrick, Schumann, Johnson, McGarr, Kaminski & Shirley leased nearly 3K SF after deciding to relocate to the Bogart from North Central Expressway.
JLL's Chris Doggett and Ashley Curry are handling leasing efforts for the Bogart. The newest tenant relied on Edge Realty Partners' Rena Padachy.
SALES/ACQUISITIONS
Arlington Investment Properties bought a 54K SF industrial building at 1200 Gambrel Road in Arlington from seller 109th Street LP. LanCarte Commercial's Sarah LanCarte and David Corle represented the seller, while Stream Realty Partners' James Mantzuranis represented the buyer.
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CKS Packaging acquired 2.07 acres at 2850 Dairy Milk Lane in Dallas. Stream Realty Partners' Ryan Boozer and Lena Pierce closed the transaction.
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Triten Real Estate Partners purchased a nearly 30-acre industrial services site at 7240 North I-35 East in Waxahachie.
The site comes with a 33K SF industrial service facility, a trailer maintenance bay, 18 acres of trailer storage and parking, and direct access to I-35. The property is 85% leased to USA Trucking.
Triten Real Estate Partners' Ross Graves and Charles Lintakoon handled the transaction for the buyer and seller.
EXECS
Real estate development and investment firm Trademark Property Co. hired former Neiman Marcus client experience leader Chuck Steelman to serve as its vice president of experience. Steelman will help Trademark's numerous retail and mixed-use development projects by bringing his knowledge and experience in the world of experiential retail to Trademark. Trademark is working on the renovation of the Galleria Dallas.
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The Woodmont Co. hired Kendall Graff as a brokerage and finance associate. Graff served the firm as an intern while in college. He will handle retail leasing, tenant representation and financing for Woodmont's 27-state portfolio.
Graff recently graduated from Texas Christian University with a B.A. in Business Administration with an emphasis in real estate finance.
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Flagship Capital Partners welcomed Trent Brown as director of investments and leader of the firm's Dallas office. Brown brings years of experience in banking and commercial real estate finance.
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Quine & Associates has promoted David Lisner to senior vice president. He joined the firm in 2002 and has spent a total of 25 years in real estate, specializing in acquisitions, dispositions, retail asset property management and landlord/tenant representation.
LEASES
Veritex Community Bank inked a sublease for 26K SF inside the 12750 Merit Drive high-rise office building in Dallas near the intersection of I-635 and U.S. 75. Through this new lease the community bank is expanding its footprint while also finding a place to house 150 of its existing 700 statewide employees.
NAI Robert Lynn's Kent Smith and Dan Boyles represented Veritex Bank.
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TriGate Capital has selected Stream Realty Partners to oversee leasing for Comerica Bank Tower in Downtown Dallas. Stream's Rhett Miller, Matt Wieser and J.J. Leonard will oversee leasing efforts and management of the office tower.
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LUX Salon Suites leased nearly 12K SF at Shops at Three Eighty, 2281 East University Drive in Prosper. RESOLUT RE's Chris Flesner and Brian Sladek represented the landlord. J2 Commercial Real Estate's Greg Strawn represented the tenant.
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The University of Texas Southwestern Medical Center renewed a 48K SF lease at 3000-3030 Waterview Parkway in Richardson. Stream Realty Partners' Matt Wieser and Ramsey March represented the landlord, GI Partners.
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Method Pharmaceuticals grew its space at 419 Bank St. in Southlake from 13K SF to 19K SF. Transwestern's Frank Jester represented the tenant, while Holt Lunsford's Matt Carthy, Hogan Harrison and George Jennings represented the landlord.
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Evolve Scholastic leased 12K SF at 8920 Premier Row in Dallas from 462 Thomas Family Properties LP. Bradford Commercial Real Estate Services' Richmond Collinsworth represented the tenant, while Gillis Thomas Co.'s Kevin Conlon represented the landlord.
FINANCING
The 264-unit The Franciscan at Bear Creek apartment complex in Euless obtained a $38.4M refinancing loan through the U.S. Department of Housing and Urban Development's 223(f) mortgage insurance program with the help of Paragon Mortgage.
The loan comes with a low interest rate on a 35-year fully amortized, nonrecourse loan and will be used to fund property repairs while also restructuring the property's overall debt.
THIS OR THAT
JLL's senior housing capital markets team in partnership with Capital Senior Living and Brookdale Senior Living raised more than $40K to help deliver meals to workers at nine Dallas-area senior housing complexes. The meal delivery program for healthcare workers and first responders is run by the CaterCares program.
The JLL team turned the fundraiser into the JLL Feeding Heroes program, an initiative that helped produce roughly 15,000 meals for Feeding America through JLL CaterCares.
