This Week's Dallas-Fort Worth Deal Sheet
Ventas, a real estate investment trust, is now the owner of Parkside on Legacy, a nearly 102K SF healthcare facility in Plano.
Travis Ives and Gino Lollio of Cushman & Wakefield’s US Healthcare Capital Markets Team were among a group of agents who represented Cawley Partners in the $58M sale, according to a Dec. 3 news release from Cushman & Wakefield.
“Ventas is one of the largest and most respected ownerships of healthcare real estate in the world,” Ives said in a statement. “Historically, behavioral health facilities have been considered somewhat of a 'niche' asset within healthcare real estate, but this transaction may be a watershed moment for the industry as others take notice of Ventas’ entry into the space.”
Denver-based Eating Recovery Center is the sole tenant of the building at 5120 Legacy Drive in Plano. The eating disorder treatment center uses the building for inpatient and outpatient services, according to the release.
PEOPLE
Newmark announced the hiring of Duane Henley and Nathan Durham as executive managing directors. Both join Newmark from Transwestern.
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The Rainier Cos. hired Lindsay Endicott and Mar-Louise van der Merwe as property manager and senior REIT analyst, respectively. Endicott formerly worked for Weitzman. Van der Merwe brings nearly a decade of accounting experience.
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NewPoint Real Estate Capital hired Rob Wrzosek as managing director and head of non-agency affordable strategies. He comes to NewPoint from Blue Fin Capital Management.
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Legacy Partners announced multifamily development expert Brian McNally as its new vice president of development and acquisitions. McNally was previously the director of development at Crescent Communities.
SALES
STRIVE announced the sale of a more than 19K SF new retail center called Custer Ridge Plaza on Custer Road in McKinney. The center is 100% occupied.
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Institutional Property Advisors, a division of Marcus & Millichap, sold The Jameson at the Bluffs, a 387-unit multifamily property in Fort Worth, to an undisclosed buyer.
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Marcus & Millichap arranged the sale of Dollar Tree Plaza, a more than 24K SF retail property in Crowley. The undisclosed buyer is a private investor.
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Marcus & Millichap announced the sale of Whitestone Mobile Home Park, a 37-unit manufactured home community located in Azle. Brad Dorsey and Robert Denninger of Marcus & Millichap listed the property on behalf of an undisclosed private investor.
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Bellevue Living announced the sale of Bellevue Terrace in Dallas, The Reserve at Bellevue, Bellevue Chase, The Park at Bellevue in Fort Worth and Bellevue Heights in Mesquite. The five apartment communities total 1,319 units.
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Two multifamily properties in Northwest Dallas — the 440-unit Pecan Square at 3535 Webb Chapel Road and the 308-unit Bayou Bend apartments at 3353 Lombardy Lane — were acquired by Florida-based ZMR Capital.
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Bolos & Associates purchased a nearly 38K SF two-building office property at 14330 Midway Road in Farmers Branch. The property was sold by David Shutler of Proton Partners LP. It will serve as the new headquarters for Bolos Foundation Ministry, the company’s philanthropic endeavor. Randy Blankenship with Biel Partners represented Bolo & Associates. Blake LeGrow, Justin Owen and Stephen LaMure with Dominus Commercial Inc. represented the seller.
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Hodges Ward Elliott announced the sale of Hyatt Regency DFW International Airport, an 811-room hotel located adjacent to Terminal C. John Bourret, Austin Brooks and David Auer of Hodges Ward Elliott represented the seller.
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Marcus & Millichap announced the sale of Medical Professional Building, a close to 11K SF office property at 541 West Main St., Lewisville. Garrett Wolfe and Joseph Jacques of Marcus & Millichap Dallas office listed the property for the seller, a limited liability company. The buyer, who was secured and represented by Marcus & Millichap’s Richard Robson and Tommy Lovell III, was also a limited liability company.
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Marcus & Millichap announced the sale of Plano Pediatric, a close to 78K SF office property at 7000 West Plano Parkway in Plano. Ron Hebert and Joseph Jaques procured the buyer. The seller was a healthcare institutional owner.
LEASES
Holt Lunsford Commercial executed two new leases in Fort Worth’s Carter Distribution Center and Everman Trade Center. RSI SmartCap has leased close to 392K SF in the Carter Distribution Center. Matt Carthey and Thomas Grafton represented PGIM Real Estate, and Grant Pruitt with Whitebox Real Estate represented RSI Pruitt. DCI Hollow Metal signed a 43.7K SF lease at the Everman Trade Center. Matt Carthey and Thomas Grafton represented the landlord, Cabot Properties. DCI Hollow Metal was represented by Bob Luttrell with Newmark.
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Lee & Associates Dallas-Fort Worth completed a lease transaction for a nearly 49K SF industrial space at 12880 Valley Branch, Farmers Branch. Nathan Denton of SIOR and Adam Graham of Lee & Associates represented the landlord, GID Commercial. Richard Carlson of Carlson Commercial represented the tenant, Aero Composites.
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Lee & Associates completed a lease transaction for a 12K SF industrial space at 10502-10590 King William Drive, Dallas. Adam Graham and Ken Wesson represented the landlord, EastGroup Properties.
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Lee & Associates Dallas-Fort Worth completed a lease transaction for a 13.7K SF industrial space at 3310 Matrix Drive, Richardson. Brett Lewis and George Tanghongs of Lee & Associates Dallas-Fort Worth represented the tenant, Corporate Magic. The landlord is Exeter Property Group.
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JAH Realty announced it signed a lease with Planet Fitness for a 32K SF space in Keller Crossing Shopping Center in Keller. William Rosatti represented JAH Realty, and Tyler Grisham with Edge Realty Partners represented Planet Fitness.
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Burke’s Outlet leased more than 18K SF at Ennis Crossroads, 1011 East Ennis Ave. in Ennis. Chris Flesner and Brian Sladek of RESOLUT RE represented the landlord, while Jennifer Reynolds of Winc Retail represented the tenant.
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PNC Bank extended terms on its existing lease of close to 17K SF at The Crescent in Uptown Dallas. It also expanded its space to a total of 55.5K SF. Billy Gannon and Howard Watkins of Transwestern represented PNC Bank. Tony Click and Jordyn Allen of The Crescent represented The Crescent.
CONSTRUCTION AND DEVELOPMENT
Kalterra Capital Partners announced the groundbreaking of The Hamilton, a 175-unit multifamily development in Waxahachie. The Class-A active adult living community is located on close to 8 acres with more than 134K SF of net rentable area. It is expected to open in the fourth quarter of 2022.
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Prism Health North Texas announced the opening of its administrative and executive office headquarters at 3900 Junius St. on the Baylor Medical Center Campus. Its patient services center, Worth Street Health Center, will be located across the street at 4004 Worth St. The office space and patient services center were designed by DLR Group. Eliza Solender of Solender/Hall represented Prism Health North Texas in the brokerage process for both spaces.
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CBRE’s Marty Neilon and Carter Kendall will market close to 77 acres of land for mixed-use development near the intersection of US-380 and the Dallas North Tollway in Frisco. The site was originally planned for a mixed-use project called Lesso Mall.
