This Week's Dallas-Fort Worth Deal Sheet
Galderma will relocate its headquarters from Fort Worth to the Trammell Crow Center in Downtown Dallas next summer.
The dermatology company best known for its Cetaphil products will occupy 50K SF across two floors in the center, located at 2001 Ross Ave. The building recently underwent a $35M renovation at its location in the Dallas Arts District, per a release.
The company looked at several national and local options for its new headquarters, but it settled on the Arts District because of its walkable amenities, which Head of Galderma Global Real Estate and Facilities Michael Shires said will help with employee recruitment and retention.
“We are so happy to be able to continue the next chapter of growth for Galderma U.S. in Texas,” Shires said.
The addition of Galderma puts Trammell Crow Center at more than 90% leased, according to Ramsey March, managing director and partner at Stream Realty.
Galderma’s Dallas headquarters will house 400 employees, according to the release. The company’s distribution center will remain in Fort Worth.
PEOPLE
NewPoint Real Estate Capital announced the acquisition of certain assets of Housing & Healthcare Finance, including its FHA multifamily and health care original business and its loan servicing portfolio. HHC Finance founders Erik Lindenauer and Rich Lerner will join NewPoint as co-presidents of the FHA Housing Business Unit and will lead the integration of HHC Finance’s team of approximately 50 professionals into Newpoint’s existing FHA origination and servicing business.
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Rubicon Representation announced Chris Barnet as its new executive vice president. Barnet will focus on servicing clients in the healthcare industry. He comes to Rubicon from Cushman & Wakefield, where he served as executive director of the Healthcare Advisory Group.
SALES
Houston-based multifamily investment firm Barvin closed on the purchase of Elan Crockett Row, a luxury multifamily property located in Fort Worth. The property consists of 380 units with 7.2K SF of fully leased retail.
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Colliers announced the sale of Carrollton Office Tower, a five-story multi-tenant office property at 1925 Belt Line Road, Carrollton. Cody Payne, senior vice president for Colliers International Fort Worth, is marketing the property on behalf of the seller, a private investor. The buyer is also a private investor.
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CanTex Capital acquired Sylvania Industrial Park, 3201 North Sylvania Ave. in Fort Worth. The 800K SF manufacturing campus is the largest crane- and rail-served facility in DFW. NAI Robert Lynn Managing Principal and Fort Worth President Todd Hubbard represented the buyer in the transaction.
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Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Elan City Centre, a 330-unit multifamily property in Farmers Branch. The three-story property has an average unit size of 771 SF.
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CBRE announced the sale of Trinity Pines, a 60-unit multifamily community at 3815 Stuart Road, Denton. LvDGI Asset purchased the property from Irving-based K. Stephanie Baker. Chris Deuillet and William Hubbard with CBRE Capital Markets’ Dallas Multifamily team represented the seller.
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CBRE announced the sale of Dallas Light Industrial Portfolio, which consists of nine Class-B infill assets totaling more than 300K SF of industrial space in Addison and Carrollton. Birtcher Anderson & Davis and Belay Investment Group purchased the portfolio as a joint venture from Kennington Commercial for an undisclosed price. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.
LEASES
Crayon Software Experts signed a full-floor lease at 12221 Merit Drive in Dallas. The software company will occupy 21K SF of Class-B office space on the 14th floor of Three Forest Plaza, which is owned by Hartman Income REIT Management. The company plans to move in next year.
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Community Hospital Corp. leased its new headquarters at 7950 Legacy Drive, Plano. NAI Robert Lynn Executive Vice President Dan Jardine and Chairman and Office Division President Tom Lynn represented the tenant in this transaction. The company plans to move into the space in December.
CONSTRUCTION AND DEVELOPMENT
Presidium, a Texas-based real estate development, investment and management firm, broke ground on Presidium Frisco Square. The 337K SF multifamily property will include 368 units and is expected to open in June 2023.
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KWA Construction finalized building The Truman, the second phase of Arlington Commons, located at 505 East Lamar Blvd., Arlington. Developed by The Nehemiah Co., The Truman is a four-story, 358-unit luxury urban community comprising approximately 289.5K SF of rentable space.
THIS AND THAT
511 EJC, a Las Colinas property owned by Codina Partners and managed by Crescent Property Services, was awarded The Outstanding Building of the Year Award by the Building Owners & Managers Association. The award recognizes quality in commercial buildings and excellence in building management. The seven-story, multi-tenant building is home to McDonald’s Corp. and the national headquarters for Mothers Against Drunk Driving.
CORRECTION, DEC. 16, 10:41 A.M. CT: An earlier version of this story contained incorrect information to describe CanTex Capital. It has been updated.
