This Week's Dallas-Fort Worth Deal Sheet
A hidden retail asset sitting inside a Dallas-Fort Worth opportunity zone hit the market this month.
Once known as the "big outlet mall" in Gainesville, the 315K SF Liberty Crossing mall is up for sale.
Offering future buyers 42 acres alongside Interstate 35, the property comes with six buildings, 4K SF of former restaurant space, 25 RV spaces and parking spots for 1,900 vehicles.
Younger Partners' John St. Clair is marketing the value-add play.
“With creative redevelopment, there are many great ways to reposition this property,” St. Clair said in a statement.
“The property can remain as a tenant-based project or it can be sold to one or multiple users. The improvements are in excellent condition and there are advantageous sales and property tax incentives in place. It is also located within a designated Opportunity Zone and the New Market Tax Credit should play a major role in optimizing the property’s uses.”
EXECS
The Dallas West End Association named Phillip Honoré its newest executive director.
Honoré will help the growing and redeveloping community to shape its future as various retail, entertainment, residential and office redevelopment projects draw in new tenants.
Honoré attended Bowie State University and the University of North Florida and is a graduate of three law enforcement agencies.
Honoré also is a U.S. Coast Guard and Coast Guard Reserves veteran and once served as a special agent/criminal investigator at the Pentagon Building in Washington, D.C. He brings extensive experience in public safety, a critical issue in the redevelopment of the West End District.
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Downtown Dallas Inc. named Scott Goldstein the organization's chief of communications and policy, effective Nov. 30.
Goldstein will oversee the voice and positioning of the organization while working on corporate, business-to-business, economic development and government initiatives. Goldstein previously served the Dallas Regional Chamber as senior vice president of communications.
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Hotel Drover and Stockyards Heritage Development Co. named Grant Morgan as executive chef and Brian Richards as executive director of food and beverage for the Hotel Drover, a Marriott Autograph Collection hotel in the Mule Alley district of Fort Worth.
CONSTRUCTION/DEVELOPMENT
The 242-acre Frisco Station development continues to grow its 30-acre programmed park system, with Phase 2 underway and slated to open in the second quarter of next year.
Phase 2, which involves the Canyon East portion of the station's park system, will add another acre of urban trails and development connectors inside Frisco Station, allowing retail and office tenants access to numerous green spaces and walkable pathways.
The latest phase of the development will help link the 1.3-acre The Bend Park.
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A new student housing development is heading to Texas Wesleyan University. Panteras Development Partners and Miyama USA Texas signed a long-term ground lease agreement with the Fort Worth-based university to spearhead the development of The Rosedale student housing complex.
The development, located at 3228 East Rosedale, will offer housing units to more than 100 students starting in the fall of 2022.
Miyama USA Texas provided equity for the 56-unit facility.
SALES/ACQUISITIONS
SOTO Fleet Service Inc. bought 4.75 acres in Lancaster from Robert G. Brown. The site is located at 2002 Wheatland Road. Bradford Commercial Real Estate Services' Kyle Espie represented the seller.
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The 204-unit Heritage Park apartment complex has sold in Arlington, Texas.
Constructed in the 1980s, the asset sold after a series of upgrades and renovations. The seller, American Landmark, sold the asset to WAK Management Co. The brokers working up the transaction included Marcus & Millichap's Institutional Property Advisors' Will Balthrope, Joey Tumminello and Grant Raymond, as well as Marcus & Millichap's Bard Hoover and Nick Fluellen.
LEASES
Dickey's Capital Group, the holding company for Dickey's Barbecue Restaurants, renewed its corporate headquarters lease inside the Dallas Knox-Henderson District.
The firm inked a deal for 164K SF of office space inside 4514 Cole Ave. in Highland Park Place. NAI Robert Lynn's Justin Utay represented Dickey's.
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A 0.76-acre site at 801 East Loop 820 in Fort Worth has sold to CooperMaze Electric. Vision Commercial Real Estate's Scott Lowe represented the buyer, and C21 Mike Bowman's Heather Konopka represented the seller.
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National Joint inked a nearly 25K SF lease at 7,000 West Plano Parkway with Healthpeak Properties in Plano. Transwestern's Jeff Smith represented the landlord.
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Intelligent Mexican Marketing renewed a 25K SF lease at Pioneer 360 Business Center in Arlington. Stream Realty Partners' Matt Dornak and Luke Davis represented the landlord, Black Creek Group, while the tenant hired Avison Young.
