This Week's Dallas-Fort Worth Deal Sheet
Huffines Communities kicked off construction on its $300M luxury 90-acre resort-style Hebron 121 Station apartment community in Lewisville. This is the third phase.
GC KWA Construction teamed up with Huffines for the project, which includes three additional four-story buildings with 242 luxury one- and two-bedroom units at 880 Union Station Pkwy, just across I-35E from Vista Ridge Mall and north of Sam Rayburn Tollway. The community’s amenities include a 10k SF clubhouse, sand beach, 236,000-gallon pool with swim-up bar, cabanas, fire pits, and other outdoor entertaining and leisure spaces. When complete, the $300M development will include 1,700 units, as well as a restaurant and fitness center. Construction is expected to be complete in summer 2016.
EXECUTIVE PEOPLE
Ken Walter joined Fults Commercial Real Estate as SVP, where he will focus on hotel and multifamily development.
SALES
Olympus Ventures purchased the 75k SF NBCUniversal regional HQ office in The Campus @ CenterPort from KDC. CBRE’s Eric Mackey, Gary Carr, John Alvarado, Robert Hill and Pete Van Amburgh repped the seller.
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Terre Verde Group, the developer of Windsong Ranch, sold 26 acres near the development to Atlanta-based Davis Development for a 300-unit townhome-style luxury apartment development. Venture Commercial Real Estate’s Ken Reimer, Edward Bogel and David Davidson Jr. repped the seller. Edward and David also repped the buyer.
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Health Care REIT purchased five on-campus MOBs, surgery centers and did a sale-leaseback of additional on-campus development sites in the Metroplex with Rainier Medical Investments. Lincoln Harris CSG’s Webber Beall, Brian Bacharach and Rhodes Baker repped the buyer. The stabilized Class-A portfolio contained 196k SF, as well as approximately seven acres that was leased back by Rainier for future on-campus medical and hospitality developments.
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Walden Family Partnership sold a 25k SF industrial building at 5704 Airport Freeway in Fort Worth to Tarrant Tierra Partners. Transwestern’s Todd Hawpe and Leland Prowse negotiated the transaction.
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Traylor Investments Ozona sold a 45k SF industrial building at 801 Ozona Ave in White Settlement to Kuba-Tech Industries. Transwestern’s Todd Hawpe and Davy Wright repped the seller.
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Riverbend Complex purchased the 188k SF four-building Riverbend Center from Klabzuba Realty. Transwestern SVP Steve Rowland, principal Jeff Givens and associate Tracy George repped the seller. Colliers International’s Todd Lambeth repped the buyer. The industrial/flex property at 2301–2435 Gravel Dr and 7401–7445 Pebble Dr in Fort Worth were purchased for an undisclosed price.
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1207 Crosby Partners I purchased a 74k SF industrial building at 1207 Crosby Rd in Carrollton from Thackeray Partners. Lee & Associates principal Nathan Denton repped the buyer. The seller was repped by Holt Lunsford Commercial’s Scott Moore. Nathan also repped the buyer, Sorensen Properties, in its acquisition of a 17k SF facility at 4203 Beltway Dr in Addison from Alahonal Dentex. The seller was repped by CBRE’s Michael Chiocca.
LEASES
Greenberg Traurig renewed its 35k SF lease at Chase Tower in Downtown Dallas. Landlord is Hines REIT. Colvill Office Properties’ W. Blaine Hale and Cameron Colvill repped the landlord. CBRE’s Phil Puckett, Jeff Ellerman and Harlan Davis repped the tenant.
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Iron Mountain leased 70k SF at Mercer Business Park from the Billingsley Co. The Iron Mountain lease will begin in Q4. JLL’s Ed Soriano and Michael Haggar repped the tenant.
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The Retail Connection’s Scott Rose repped the landlords in two deals. Scott repped RPI Parker Town Center in its 31k SF lease to Prime Overstock Surplus in Parker Town Center at the northeast corner of Parker Road and Avenue K in Plano. EKH + Partners’ Earl Harris also repped the landlord. Scott repped RPI Green Oaks in its 55k SF lease to Burlington Coat Factory in Ridgmar Town Square at I-30 and Green Oaks in Fort Worth. Earl assisted with the landlord repp and Eleven Eleven Commercial Realty repped the tenant.
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Crescent Electric Supply Co leased 42k SF at 1620 Rafe St in Carrollton from Colony Financial. DTZ’s Blake Anderson and David Eseke repped the landlord.
THIS & THAT
CoreNet hosted an office tours event at Imagine Communications Corp. Here are Imagine's chief people officer Sean Huurman and director of real estate Jim Hurless, IA Interior Architects managing director Frances Bruns and CBRE’s Baron Aldrine. IA designed the space for Imagine.
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Palm Beach Tan earned the first LEED Silver certification from the USGBC for a tanning salon (located at 1855 Payne St in Dallas). PBT execs say this store will be a model for additional environmentally friendly salons throughout the PBT system. PBT director of development Jason Neely says the salon includes products and materials that use less energy and recycled goods. JL Architects designed the store.
NEW DEVELOPMENT
Cinepolis USA will open an eight-screen, 700-seat luxury theater in Victory Park at the northwest corner of Victory Park Lane and High Market Street. The theater will be part of a multi-level, mixed-use building that also will include residential and retail components and additional parking. This is the theater chain’s first Texas location. The 44k SF cinema is projected to open in 2017. The Cinépolis building will also include a 640-space structured parking garage located above the ground-floor retail to accommodate residents, retail customers and moviegoers. In addition, construction of a new 250-space parking facility at the south end of the district at Victory Avenue and Lamar Street is underway.
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Victory Real Estate Group acquired a 14-acre tract at the corner of Lakeridge and Camp Wisdom in Grand Prairie with plans to build Victory at Lakeridge, a grocery-anchored site with six pad sites, a retail center and a gas station. Construction should be completed by the end of 2016.
