This Week's Dallas-Fort Worth Deal Sheet
Twenty-four years after its opening, retail center Grapevine Towne Center is embarking on a massive renovation project.
The 330K SF shopping center is at State Highway 113, between SH-26 and William D. Tate, in the city of Grapevine.
The renovation is happening at a time when shopping centers nationwide face stiff competition from e-commerce channels, forcing them to enhance on-site shopping experiences for local pedestrians.
Weitzman, which is representing the owner, said the renovation of Grapevine Towne Center is a way to enhance the loyalty of existing consumers and build on its past success in the area.
“Thanks to dedicated leasing and management, Grapevine Towne Center has always been a strong performer,” Weitzman Asset Manager Jennifer Chandler said. “This renovation is adding modern lifestyle elements and pedestrian-friendly features, as well as an updated facade, to ensure that the center’s next two decades are as strong as its first.”
The shopping center is anchored by Ross, Big Lots, Bealls, Office Depot, Jason’s Deli, eatZi’s, Haltom’s Jewelers, Merle Norman and several others.
Hodges & Associates will serve as architect for the remodeling project, and Chandler is handling renovations on behalf of the center’s owners. Kathy Detrick — also of Weitzman — is set to handle construction.
The property is managed by Weitzman’s Debra Hays, while Blane O’Banion and Matt Luedtke handle leasing.
EXECS
Developer Craig Hall, chairman and founder of HALL Group, will be honored with the Urban Land Institute of North Texas’ 2019 Vision Award at the fifth annual Impact Awards Gala in October.
Hall formed HALL Group in 1968 when he was only 18 years old and moved the company to Dallas in the early 1980s. HALL Group operates in numerous disciplines — from real estate development, management and ownership to financial lending, and his portfolio now includes properties HALL Park in Frisco and HALL Arts in the Dallas Arts District and companies HALL Structured Finance, HALL Wines, WALT Wines and BACA Wines in California.
Craig Hall individually is known for his contributions to the arts, education and the development of entrepreneurs.
Prior Vision Award recipients include Ross Perot, Ross Perot Jr., Trammell and Margaret Crow, Herbert Weitzman and Roger Staubach.
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Hoefer Wysocki announced three promotions in its Dallas office. The architecture, interior planning and design firm promoted Christy Murphy to vice president, Marty McIntire to principal and director of Clinical Technology Solutions, and Peter O’Connor to associate principal and director of technology design.
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McKinstry named Michael Grabham vice president of Energy & Technical Services for its South Region. Grabham will lead McKinstry’s efforts in curbing client operating costs and saving energy in the built environment. He helped establish the company’s Dallas office in 2008.
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Commercial real estate firm Greystone is expanding its full-service multifamily investment and sales advisory capabilities in North Texas with the addition of a team led by Todd Franks. The group will operate as the joint venture Greystone Investment Sales Group and is expected to include 12 advisers with experience in multifamily, single-family rental portfolios, senior housing, student housing and land sales.
LEASES
Team ProMark leased 24K SF of office/warehouse space at 5001 North Freeway in Fort Worth from 5001 North Freeway LLC. Bradford Commercial Real Estate Services’ Nick Talley handled negotiations for the tenant, while Transwestern’s Jeff Givens and Todd Hawpe represented the landlord.
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DFD Movers Inc. secured a lease of 22K SF of industrial space at 2306 Sherwin St. in Garland from Don and Sherrie Bellows. Bradford Commercial Real Estate's Jason Finch and Brian Pafford represented the tenant.
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Status Systems leased 15K SF from Markison Vista Joint Venture at 10490 Vista Park Road in Dallas. Mercer Co.’s Chandler Mason represented the tenant, while Roy Greenberg at Momentum Commercial Realty represented the landlord.
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TW Food Equipment leased 184K SF at Meachum Crossing in Fort Worth. Holt Lunsford Commercial's Donnie Rohde and Matt Carthey represented the landlord, Maplewood. CBRE’s Bob Scully handled negotiations for the tenant.
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Worth Food Solutions leased 23K SF at 629 Mony St. in Fort Worth from landlord Vaquero Mony Street Partners. Holt Lunsford Commercial’s Donnie Rohde and George Jennings represented the tenant, while LanCarte Commercial’s Sarah LanCarte represented the landlord.
THIS AND THAT
Corner stone concept Foxtrot is expanding to Dallas with a storefront opening in Uptown on McKinney Avenue this summer. This is Foxtrot's first market outside of Chicago. The shop offers morning coffee, lunch and mid-day treats and focuses on curated products and brands.
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TEXO, which is the North Texas joint Associated General Contractors and Associated Builders and Contractors association, awarded Bob Moore Construction the Distinguished Building Award for its work on General Motors’ Arlington Automotive Logistics Center. The award was given in the Industrial / Warehouse 2 (Over $5M) category.
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Younger Partners Property Services received two new management assignments, including 61K SF at Forest Central 1 in Dallas and 142K SF at 800 West Airport Freeway in Irving. Younger is now managing six buildings for the same owner, including Empire Central, Chase Bank Building in Garland, and the 221K SF Promenade Tower in Richardson.
