This Week's Dallas-Fort Worth Deal Sheet
Westmount Realty Capital and a fund managed by DRA Advisors just sold the 1.13M SF Dallas Food Center, a cold storage facility at 2600 McCree Road in Garland.
The center sits on 61 acres and contains four distribution buildings, two warehouses and trailer storage. The sale comes as DFW industrial property, including cold storage, is in vogue and in high demand.
CBRE's Jonathan Bryan and Randy Baird represented the seller.
EXECS
Tim Baker has joined Weitzman as executive vice president and managing director of acquisitions.
The retail brokerage hired Baker as part of its plan to expand the firm's focus on equity fundraising, investor relations, investment strategy and deal sourcing. Baker will source purchasing opportunities across DFW and the entire state of Texas.
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KAI named Eduardo Ponce senior project architect inside the firm's Dallas-Fort Worth office. Ponce will handle the development and implementation of projects from beginning to end.
He brings more than two decades in architecture to the position. Ponce previously served KAI as project designer and was previously an architect for Pfluger Architects in San Antonio. He also worked at SkB Architects in Seattle and Carson Design Associates and Merrick & Co. in San Antonio.
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HALL Group hired Brian Martinelli as vice president of development. Martinelli brings a background in management, engineering and development services to the role.
Prior to joining HALL, Martinelli worked as the development director for Woodbine Development Corp. and managed Woodbine's hospitality projects across South Texas. He also spent more than a decade as a senior project manager for Austin Commercial LP.
LEASES
A major law firm has decided to remain in the central business district.
Thompson Coe inked a deal to renew 69K SF inside Plaza of the Americas and plans to continue occupying floors 23 through 25. The firm has leased the same two floors for the past 18 years.
Located at 700 North Pearl St. in Downtown Dallas, Plaza of the Americas is a mixed-use development made up of two 25-story office towers. The buildings are owned by a partnership of M-M Properties and Invesco Real Estate.
The firm, which signed a multiyear lease, has the ability to modernize the building.
CBRE's Harlan Davis, Phil Puckett and Jeff Ellerman represented Thompson Coe during negotiations, while Transwestern's Kim Brooks, Justin Miller, Paul Wittorf, Laney Underwood and Ford Childress represented the building's owners.
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Avyna Cosmetics Inc. leased 10K SF at Berry Business Center in Fort Worth from landlord Circle Industrial. Stream Realty Partners' Jeff Rein represented the landlord.
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AVI-SLP leased 52K SF at CreekView 121 - Building 8 in Lewisville. Stream Realty Partners' Bob Hagewood and Eric Crutchfield represented the landlord, EastGroup Properties. JLL's Randy Touchstone and Caleb Lewis represented the tenant.
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Dot It Restaurant Fulfillment inked a long-term lease for 135K SF at 4200 Empire in CentrePort, just south of Dallas-Fort Worth International Airport. The company previously housed its facility at 2001 East Randol Mill in Arlington, where it occupied only 60K SF.
Transwestern's John Brewer and Riley Maxwell handled negotiations for Dot It. Stream Realty Partners' Luke Davis and Matt Dornak represented the landlord, ML Realty Partners.
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Huitt-Zollars Inc. inked a lease agreement for an undisclosed amount of space inside Three Lincoln Centre in Dallas. The design firm hired Newmark's JR Tomlinson to handle tenant negotiations, while Cushman & Wakefield's Matthew Schendle and Clint Madison represented the landlord, Nuveen.
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Single Source Inc. leased 11K SF at 1245 Viceroy Drive in Dallas from landlord Hord Street Properties Inc. Mercer Co.'s Jeremy Mercer represented the tenant.
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The recently renovated six-story Arlington Downs Tower has secured five lease deals within the last 30 days, two of them for lease expansions and three involving office space renewals.
The 87K SF office tower at 2225 East Randol Mill Road in Arlington executed leases totaling nearly 18K SF last month.
One of the new tenants is Creator Age Inc., which relied on Sheryl Pickens of PickensRidnour LP to handle negotiations, while Bradford Commercial Real Estate Services' Richmond Collinsworth and Erik Blais represented the building landlord.
Lease renewals and expansions also were signed with the following tenants: PDMS Design Group Inc. (nearly 10K SF), Stride Staffing (more than 2K SF), The Parks Group Ink. (more than 1K SF) and Mechanical Contractors Association of Dallas Inc. (just under 1K SF).
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Top Line Partners LP inked a new lease deal for 20K SF from 356 Midway Venture LLC at 7348-54 Tower St. in Richland Hills. The tenant hired Transwestern's Brent Landfried to handle negotiations.
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Cisco Equipment Rentals inked a new lease deal for nearly 13K SF at 4840 Mark IV Parkway in Fort Worth. Transwestern's Grant Huff represented the tenant. DFW Realty Partners' Marty Rader represented the landlord, Mark Forward Property 1 LLC.
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North Texas Amusement renewed a 10K SF lease at Halawa View Apts., located at 2670 Gravel Drive in Fort Worth. Transwestern's Brent Landfried represented the tenant.
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Condumex Inc. leased nearly 37K SF of industrial space at 900 Avenue S in Grand Prairie. NAI Robert Lynn's Michael Stanzel represented the tenant, while First Industrial's Robert Allen represented the landlord.
ACQUISITIONS/SALES
Dallas-based Encore Restaurants LLC has acquired 27 Five Guys Burgers and Fries stores from Five Guys Operations. The stores are located across Texas, one of Five Guy's strongest states in terms of locations and sales.
