This Week's Dallas-Fort Worth Deal Sheet

Vehicle Accessories Inc. is moving its headquarters to DFW, according to developer Jackson-Shaw.

The automotive accessories manufacturer will consolidate its operations in Buffalo, New York; Toronto; Sunnyvale, Texas; and Magog, Quebec into a new 311K SF build-to-suit facility in Mesquite’s Alcott Station Industrial Business District, according to RE Business Online. The move is expected to generate 315 manufacturing jobs and $30M in capital investment.

“We chose this site for many reasons, including Mesquite’s investment in corporate growth, the location near Mesquite Metro Airport, the corporate campus design, innovative architecture and collaborative outdoor space,” VAI CEO J Pearson said in a prepared statement.

The 180-acre Alcott Station is a master-planned project by Urban Logistics Realty that at full build-out will include 2M SF of industrial space and a 5-acre city park, per Jackson-Shaw’s release.

“Adding Vehicle Accessories to our community would be a win on its own, but welcoming their corporate headquarters and bringing 315 new manufacturing jobs as the first project within this Class-A industrial campus is an incredible blessing,” Mesquite Mayor Daniel Aleman Jr. said in a prepared statement. 

For the VAI project, Cabot is the equity partner, Peinado Construction is the general contractor, Halff is the architect, GSR is the civil engineering firm and Veritex Community Bank is the lender. CBRE’s John Hendricks and Trevor Atkins are managing the leasing assignment.

VAI’s new HQ is expected to be complete by the fourth quarter of this year.

SALES

Dalfen Industrial acquired a two-building, 408K SF industrial park via a sale-leaseback in Forney. The opportunity was sourced off-market with the help of Matt Dornak of Stream Realty. In addition to the existing building, this acquisition provides about 4.85 acres of undeveloped land that could be used for an outdoor storage yard or an approximately 200K SF expansion of the western building. 

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Bill Bledsoe, senior vice president in the Land and Investments Division at Henry S. Miller Brokerage, brokered the transaction for a 15.46-acre development site assembled from two separate and undisclosed sellers. The developer, Committed Industrial, plans to construct a 181K SF, Class-A, industrial building on the site, located at 3737 Airport Freeway in Bedford.

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Dezine News Accessories completed a 109K SF sale-leaseback at 4051 La Reunion Parkway, Dallas. Transwestern's Collin Rock and Robert Deptula represented the seller.

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Sterling Management Company of New Mexico LLC sold a 21K SF medical office building at 812 West Morphy St. in Fort Worth. Transwestern’s Jim Sager facilitated the transaction.

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AKOE sold 106 acres of land at 200 West Cleburne Road in Fort Worth, to DBK Industries. Transwestern’s Larry Jordan and Ben Coffee facilitated the transaction.

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Total E&P USA Real Estate sold 1630 Rogers Road, an 8-acre site in Fort Worth, to Pearson Grove LLC. Transwestern’s Gibson Duwe and Kyle Poulson facilitated the transaction.

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Western Wealth Capital acquired Bel Air K Station Apartment Homes in Plano. The 245-unit multifamily apartment community is WWC’s 19th multifamily acquisition in the DFW market.

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A partnership between HN Capital Partners LLC and McCourt Partners LLC acquired a 40-acre portfolio in the Design District. The portfolio includes 800K SF of leased showroom, retail and flex office space. HN Capital founder Vipin Nambiar will be the day-to-day local lead for the partnership in managing the portfolio.

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A venture between San Juan Capistrano, Birtcher Anderson & Davis Inc. and Belay Investment Group closed on a $42M purchase of an industrial portfolio in Dallas. The portfolio comprises nine buildings of more than 300K SF that are home to 57 tenants. The seller was represented by CBRE National Partners. 

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Savlan Capital purchased three medical buildings in Dallas and Richmond, Virginia. The acquisitions, valued at $26M, include Texas Health Resources’ medical office building at 9250 Amberton Parkway in Dallas. The three buildings, totaling more than 163K SF, were sold by California-based Modiv. The Institutional Property Advisors team of Joe Massa, Anthony Lunceford, Thomas Fakharzadeh and Michael Grenaway represented Modiv in the transaction.

LEASES

Crescent Real Estate LLC signed nine lease deals totaling 43.6K SF at The Crescent in Uptown Dallas. BBAM Aircraft Leasing and Management, Cinctive Capital LLC and Cain Capital Management signed new leases. Six office expansions at The Crescent include Harbert Fund Advisors, Bluescape Group, BTIG, WindMass Capital, West Texas National Bank and an undisclosed financial firm. Crescent Vice President of Leasing Tony Click and Jordyn Allen represented The Crescent on lease negotiations. 

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City Wide Mechanical Inc. signed a new 16K SF industrial lease at Addison Tech Center, 4555 Excel Parkway, Suite 300, in Addison. Barrett Bufkin and Jake McMillon of ESRP represented the tenant, and Josh Barnes and Blake Toriani of Holt Lunsford represented the landlord in lease negotiations.

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IES Residential Inc. signed a new 11K SF industrial lease with Minsprings LLC in Arlington. Transwestern’s Lyndon Todd represented the tenant.     

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Biagi Warehousing Inc. renewed its 180K SF industrial lease with Mapletree Investments at 605 110th St. in Arlington. Transwestern’s John Brewer and Riley Maxwell represented the landlord.

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Morgan Development and Supply renewed its 60K SF industrial lease with Gillis Thomas Co. located at 3715 East Ave. E in Arlington. Transwestern’s John Brewer and Riley Maxwell represented the tenant.

CONSTRUCTION AND DEVELOPMENT

District 121, a $250M mixed-use development adjacent to Craig Ranch, signed its first restaurant tenants. Bob’s Steak & Chop House will take a more than 7K SF standalone building, and Mi Cocina will occupy more than 6K SF in a standalone location. District 121 is anchored by Kaizen Development’s 200K SF, Class-A, eight-story office tower, which recently topped out. Thomas Glendenning, partner with SHOP Cos., is leasing the retail and restaurant spaces along with Landry Kemp of SHOP. Texas Bank and Trust is the loan originator for the project.

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OHT Partners broke ground on the 270-unit Lenox Cooper community in central Arlington near the University of Texas at Arlington campus. The 7-acre community will serve as a catalyst for the community-supported revitalization of the 5-mile South Cooper Street Corridor. It is scheduled to open by the end of this year.

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At Home, The Home Décor Superstore opened its first store in Dallas on Feb. 19. The store, located in the Timber Creek Crossing development at 6051 Skillman St., is the 12th location in DFW. The company is headquartered in Plano.

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Construction on the mixed-use development Weir’s Plaza was completed on Feb. 17 at the corner of Knox and Travis streets in Dallas. The former Weir’s Furniture building was redeveloped by GFF and Four Rivers Capital. JE Dunn Construction was the general contractor. The project, which included the preservation and adaptive reuse of the Highland Park Soda Fountain, will be home to a new, two-story, 28K SF Weir’s, 12K SF of restaurant space and 250K SF of Class-AA office space. 

FINANCING

Culby Culbertson with Terrydale Capital arranged several loans, including:

• A $4.8M loan for an undisclosed borrower for the refinance of a multifamily community in Denton. The loan was arranged through one of Terrydale Capital’s correspondent lending relationships.

• A $1.7M loan for an undisclosed buyer for the purchase of a multifamily property located in Dallas. The loan was arranged through one of Terrydale Capital’s correspondent bank relationships.

• A $12.6M loan acquisition for the purchase of a multifamily portfolio located in Dallas.