This Week's Dallas-Fort Worth Deal Sheet
The industrial renaissance continues in Dallas-Fort Worth with private equity real estate investment firm MoxieBridge buying approximately 168K SF of industrial space in Dallas, Fort Worth and Grand Prairie in July.
The company already owns 1.3M SF of industrial, residential and office space throughout Dallas and Houston. The acquired portfolio includes seven buildings on 35 acres inside the DFW Metroplex.
Buildings in the portfolio are relatively new with all of the industrial assets constructed between 2006 and 2009. The sold sites include a total of 560 trailer spaces and 34 fully leased tenant suites.
The recently purchased properties also come with an abundance of trailer parking, buildings with 14-foot overhead doors, and a large infill land presence within industrial parks.
"This type of industrial space with the parking component is in high demand in the DFW market, and is a trend that shows no signs of slowing down. North Texas is delivering more than 20M SF of new warehouse space each year, creating a lot of new demand for the trucking business as well," MoxieBridge principal Travis Ward said. "In acquiring this portfolio, MoxieBridge distinguishes itself from the competition, the majority of which has only one or the other — trailer parking or building space."
The portfolio includes the Mañana Drive property, which sits inside the Stemmons Freeway industrial market near Interstate 35. This property has three buildings totaling 67K SF and 346 trailer storage spaces.
Then there is the Mark IV property, which includes two buildings totaling 67K SF and 116 spots for trailers.
Finally, the High Prairie property in Grand Prairie near DFW International Airport offers 33K SF and 98 trailer parking spaces.
EXECS
Engineering and professional services consultancy firm WSP USA named Bill Keyes assistant vice president and senior rail systems manager.
Keyes will be overseeing transportation technology system projects through the engineering design, construction management and contract administration phases. He brings three decades of experience in rail system design, construction management and program management.
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Developer, builder and multifamily housing manager The NRP Group promoted Jason Arechiga to senior vice president of development.
Arechiga has been with the company since 2012 and will continue leading the affordable housing initiatives of NRP. The company is in the process of developing up to 4,000 affordable and market-rate apartment units. In his new position, Arechiga will oversee the firm’s partnerships with public finance corporations that help create high-quality affordable housing across Texas.
CONSTRUCTION
With a population of roughly 25,000 people, the Dallas suburb of Sachse is getting in on the mixed-use development craze. PMB Capital Investments broke ground last week on The Station, a $250M mixed-use development that will bring multifamily units, single-family homes, restaurants, retail, office and entertainment outlets to Sachse.
The development, which is surrounded by Sachse’s 34-acre Heritage Park, is funded by a public-private partnership between PMB Capital Investments and the city.
SALES
A 20K SF Town & Country Self Storage facility at 591 Pinson Road in Forney sold to a limited liability company. Marcus & Millichap’s Roger Hendricks had the exclusive listing for the property and marketed the site on behalf of a private investor. The buyer chose the self-storage property for its potential as a high-return self-storage investment.
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J&Y Cycles purchased an 8K SF retail building inside the Great Southwest Industrial District to serve as the location for Pioneer Powersports. The property is 1.74 acres and is at 1290 West Pioneer Parkway in Grand Prairie. Bradford Commercial Real Estate’s Josh Meraz and Jim Ferris represented the buyer.
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Country Inn & Suites hotel in Fort Worth sold to a private investor. The 62-room hotel property is at 2730 Cherry Lane in Fort Worth. Marcus & Millichap’s Joseph Jaques, Allan Miller and Chris Gomes exclusively listed the property on behalf of an LLC. Miller and Gomes also secured the buyer, a private investor.
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Marcus & Millichap announced the sale of 2229 Ave. J, a 11K SF office property in Arlington. Marcus & Millichap’s Ron Hebert and Wayne Bares maintained the exclusive listing for the property and helped sell it to an all-cash buyer out of Canada.
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Two industrial properties in Dallas and Lancaster sold to new buyers. The first property — 4343 Sigma Road — is a 66K SF industrial property in Dallas. The seller also disposed of Stericycle Inc., a 126K SF industrial property in Lancaster. Marcus & Millichap’s Adam Abushagur worked up both transactions. NAI Robert Lynn’s Chad Albert assisted in the Stericycle deal.
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Snyder’s Lance Inc. renewed an expanded lease at 4051 La Reunion Dallas, expanding its space to 92K SF. Holt Lunsford Commercial’s John Gorman represented the landlord, AEW Capital Management, while Strategic Realty Consultants’ Eric Glusing and Clint Dansby represented the tenant.
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TTC Equipment and Supply grew its leased space to 30K SF at 800 Industrial Blvd. in Grapevine. Holt Lunsford Commercial’s Clay Balch represented the tenant.
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Cage Inc. renewed a 15K SF lease at 6440 North Belt Line Road in Irving. Holt Lunsford Commercial’s Canon Shoults, Clay Balch and Josh Barnes represented landlord KFG Investments, while CBRE’s Mike Cleary represented the tenant.
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Floors renewed its 12K SF lease at the 405 State Highway 121 Bypass in Lewisville. Holt Lunsford Commercial’s Andrew Gilbert and Clay Balch represented the landlord, Adler Real Estate Partners.
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WorkSuites signed a 30K SF lease for 4131 NCX. Holt Lunsford Commercial’s John Dickenson and Brandon Avedikian represented the landlord, while ESRP’s John Pelletier represented the tenant.
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First Chemical leased 21K SF at 2217 Santa Anna Ave. in Dallas from landlord CJM2 Properties LLC. Mercer’s David Wilganowski and Tucker Cason represented the landlord.
CORRECTION, AUG. 8, 10:50 A.M. CT: The Adam Abushagur transactions have been updated, including revising the address and reflecting Chad Albert only worked on the Stericycle deal.
