This Week's Dallas-Fort Worth Deal Sheet
A little over a year after Urban Armadillos launched its free Pegasus Urban Trails app, the group of around 450 members is starting to physically mark the sites along the trail.
The Pegasus Urban Trails app has more than 4,000 downloads. The trail will be marked with brass plaques at each site. The 18-inch plaques feature the name of the site and that it is part of the Pegasus Urban Trails. The idea for the app was born from Urban Armadillos co-founder Skyler Baty (of IA Interior Architects) and Mike Wyatt of Cushman & Wakefield (pictured, far right with Cushman & Wakefield’s Grant Pruitt and Champion Partners’ Steve Modory at an Urban Armadillos meeting last week at 400 S Record). It promotes walking Downtown and sightseeing. 400 S Record is being leased by Cushman & Wakefield’s Rena Chapell and Matt Schendle. The owners, the Hartland Mackie Family, have committed to reviving and repositioning the building. Grant Pruitt repped the family in the acquisition.
LEASES
Softlayer Technologies, an IBM company, expanded its lease by 22k SF at 14001 Dallas Pkwy for a total of 145k SF. Henry S. Miller VP Jerry Averyt repped the landlord, TCI Stanford. CBRE’s Clay Vaughn, Steve Rigby and Mike Cleary repped the tenant.
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What a Good Dog! extended a lease for 16k SF at 10550 John W. Elliott Dr in Frisco. Stream’s Bob Hagewood repped the landlord, Crow Holdings. Henry S. Miller’s Dan Spika repped the tenant.
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Motion Industries renewed 16k SF at 1101 N Union Bower Rd in Irving. Stream’s Ryan Boozer and Todd Poticny repped the landlord, Quadrant Union Bower. Colliers International’s Allan Gump repped the tenant.
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NAI Partners, in conjunction with NAI Robert Lynn, represented GEICO with the relocation and leasing of its regional office at 2280 North Greenville Ave in Richardson in the former Fossil HQ. The 233k SF will house 1,600 GEICO associates. NAI Partners’ Griff Bandy and Jon Silberman, along with NAI Robert Lynn’s Tom Lynn and Nick Lee, repped GEICO. Peloton’s Chuck Sellers and Lauren Perry repped the landlord, CNL Commercial Real Estate.
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Whataburger Real Estate leased 51k SF at the southeast quadrant of US 287 and Avondale Haslet in Fort Worth. Transwestern managing director Steve Williamson and SVP Mason Bishop repped the landlord.
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Ricky Rustics leased 19k SF at 1234 Medical District Dr in Dallas from Barry Graham. Mercer Co’s Corby Hodgkiss repped the tenant. Mercer Co’s Jeremy Mercer and Brent Landfried repped the landlord.
RENOVATIONS
Buckingham Plaza, one of the oldest shopping centers in Garland, just completed renovations and a re-tenanting program that has added new small shops and a new anchor retailer. The 93k SF center, at the northwest corner of Buckingham Road and North Garland Avenue, added dd’s DISCOUNTS, which will occupy 22k SF for a store set to open this month. The retailer is a member of the Ross Stores family. The Weitzman Group’s Steve Gray and Phillip Hooks are exclusive leasing agents for Buckingham Plaza. The Tapp Co’s Jim Tapp repped dd’s DISCOUNTS. The renovation at Buckingham Plaza added new signature tenant elements, including raised facades, as well as a new, warm color palette and other physical improvements. Bernard Shaw, asset manager with Cencor Realty Services, directed efforts to reposition Buckingham Plaza, including the renovation of the shopping center.
EXECUTIVES
Biel Partners added Cindy Burkett, who will specialize in the leasing of office space for property owners as well as tenant representation. She was most recently at Ebby Halliday and was co-owner of several Subway franchises.
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Coldwell Banker Commercial Alliance DFW is expanding into healthcare brokerage and development, adding a 25-year veteran of the industry, Cindy Dao.
SALES
Cityspace Real Estate purchased a 29k SF industrial/flex building in Arlington from Praktek Associates Brookhollow Associates. The seller was repped by Younger Partners’ Zane Marcell and Hahn Franklin-Mitchell.
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An affiliate of 3L Realty Group purchased the 52k SF Allen Business Center at 8 Prestige Circle in Allen. Stream’s Jamie Jennings, James Mantzuranis, Caitlin Clinton and Bob Hagewood repped the seller, Vintage Allen, an affiliate of Vintage Interests.
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Coherent Metal sold 22k SF to Double V at 1210 East Avenue J in Grand Prairie. Stream’s Ryan Boozer repped the buyer. JLL repped the seller.
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Venture Commercial’s Clay Mote and Davidson Bogel Real Estate’s David Davidson Jr. closed a land sale. The duo repped the seller, Merritt Capital Partners. CBRE/UCR’s Stan Lotridge repped the purchaer, Aldi. The property is on the northeast corner of Providence Boulevard and Highway 380 in Little Elm.
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An affiliate of Tailwind Real Estate Equities purchased a 45k SF office building at 15001 FAA Blvd in Fort Worth. Stream’s Jamie Jennings, James Mantzuranis, Caitlin Clinton and Tim Terrell repped the seller, a private partnership.
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CBRE Strategic Partners US Value 7, a fund sponsored by CBRE Global Investors, acquired BLVD, a Class-A 417-unit mid-rise apartment community in Dallas. The five-story asset also includes approximately 9k SF of fully leased ground-floor retail space. It was built in 2012 at 5600 SMU Blvd near a DART station and SMU. The team plans to upgrade the management, add amenity and service upgrades, and rebrand the community as a preferred rental option for young professionals. Upgrades will include reformatting the community amenity space as well as enhanced utilization of currently unused common area space.
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American CAN! Academy purchased a 30k SF building at the southeast quadrant of Altamesa Boulevard and McCart Avenue in Fort Worth. The building has been both a church and a Bally’s in the past. Vision Commercial’s Roger Smeltzer and JT Shifflette repped the buyer. Elizabeth Solender repped the seller.
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Hard Six Holdings purchased a four-building package totaling 113k SF of office/warehouse at 2310-2334 Apollo Circle in Carrollton. NAI Robert Lynn’s Chad Albert and Mark Miller repped the purchaser. Colliers International’s Phil Rosenfeld, Matt Thompson and Jacob Goodman repped the seller.
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Stanley Tool renewed 15k SF of industrial space at 1300 N I-35 in Carrollton. The tenant was repped by DTZ’s David Eseke and Chris Hillman.
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Tenet Healthsystem Medical purchased 4.31 acres at 245 S Collins Rd in Sunnyvale. Hudson Peters Commercial’s Debi Carter repped the seller.
