This Week's Dallas-Fort Worth Deals

More than 120 commercial real estate folks went “Over the Edge” by rappelling down Las Colinas Towers last Thursday raising more than $200k for nonprofit Shatterproof to raise awareness of the disease of addiction. 

Parmenter hosted the event asking participants to raise $1k each in exchange for the opportunity to rappel down the side of its 16-story building. Team Parmenter raised more than $11k with 12 team members. Here’s part of their squad: Parmenter SVP/asset management Josh Hedderich, Husch Blackwell partner Joseph Kidwell, Staffelbach business development’s Jim Rainbolt-Bailey and Promise Total Service account manager Ryan McCrady.

Here’s Dallas Cowboys mascot Rowdy, who rappelled three times. Josh tells us Parmenter has a partnership with Over The Edge, a rappelling company, which partners with nonprofits to raise money.

NEW BUSINESS

Frisco Station Partners named the initial development and strategy team that will consult with them on the development of the 242-acre mixed-use Frisco Station to the west of the Dallas North Tollway and to the north of Warren Parkway surrounding the new Dallas Cowboys HQ complex. The team includes RTKL, Kimley-Horn, Retail Street Advisors, BOKA Powell, HKS Architects and MRA International. Frisco Station Partners consists of The Rudman Partnership, Hillwood Properties and VanTrust Real Estate. 

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Oakridge Investments completed infrastructure work for the Terrell Market Center development at I-20 and US Hwy 80 in Terrell, including the expansion of FM 148 to four lanes and a new frontage road and off-ramp for westbound I-20. The completed infrastructure makes way for a 62k SF Buc-ee’s, which will have 84 gas pumps on 19.5 acres. It should open this summer. Along with Buc-ee’s, 52.5 acres is slated for future medical use by Baylor Scott & White; Starbucks; Dairy Queen;and Whataburger. CBRE/UCR’s Andrew Lehner and Robert Aycock represent Oakridge Investments in marketing 10 pads site for retail, restaurant and hotel users.

KUDOS

The Environmental Protection Agency recently recognized the North Central Texas Council of Governments as one of seven recipients of a SmartWay Affiliate Challenge award for support of policies and practices that reduce truck emissions and improve freight efficiency. The SmartWay Affiliate Challenge is a national campaign developed by the EPA to acknowledge organizations that do an exceptional job supporting the partnership’s freight sustainability goals. Ten DFW area counties are in non-attainment for ozone and have until 2018 to meet the EPA’s standard. The freight industry is crucial to the region’s efforts to clean the air; regionally, 18-wheelers account for 52 tons of nitrogen oxides per day, or about 30% of all on-road transportation sources, despite representing only 5% of the vehicle miles traveled in the region.  

SALES

Westwood Financial Corp acquired the 95k SF Legacy Ranch neighborhood shopping center at 4851 Legacy Dr in Frisco. The property was acquired from Folsom Cos. Cushman & Wakefield executive director Tom Salanty repped the buyer.

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Ross & Bill Investments purchased a 46k SF building at 3121 Pinewood Dr in Arlington. NAI Robert Lynn’s Patrick Embry repped the buyer. Transwestern’s John Brewer repped the seller.

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Leon Capital Group acquired five acres at the southwest corner of I-35W and SH 114 in Fort Worth, directly across from Texas Motor Speedway. Venture Commercial Real Estate’s Edward Bogel and David Davidson Jr. repped the buyer.

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Timberview Golf Club sold 120 acres at 4274 Timberview Dr in Fort Worth to Cary Brown Family Foundation. Transwestern’s Jack Huff, Kyle Poulson and Kelly Whaley repped the buyer.

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Rooker Properties purchased  an 18k SF building at 3016 N Sylvania Ave in Fort Worth from Taurean East. JLL’s Jamie Galati repped the buyer. Colliers International’s Kevin Brookmole and Wade Smith repped the seller.

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Kruse Farms sold a 102k SF net-leased warehouse in Brookhollow Industrial Park to Caddo Industrial Fund I. The single-tenant property at 1011 Regal Row is Guard-All Building Solutions’ HQ and primary manufacturing site, which has term left on its triple-net lease. Coldwell Banker Commercial Alliance DFW’s Gary Walker, Renee Efimoff and Shane Benner repped the seller in the direct deal. The buyer of record is CIF 1011 Regal, a locally based single-asset entity.

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Jackson-Shaw purchased more than 50 acres at Northern Crossing West in Fort Worth. NAI Robert Lynn’s Todd Hubbard and Michael Newsome repped the seller.

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Texas B2 Investments sold 17k SF of retail showroom space at 9938 Plano Rd in Dallas to Freedom Powersports Real Estate. Transwestern’s Trey Neville and Larry Jordan negotiated the transaction.

THIS & THAT

Combining work and pleasure, we caught this group of industrial brokers sharing comps (and adult beverages) at Katy Ice Trail. Here’s Colliers International’s Jacob Goodman and Allyson Gump, Cushman & Wakefield’s Shannon Johnston, Lee & Associates’ Corbin Blount, Transwestern’s Trapper Graff and Stream Realty’s Todd Poticny.

FINANCING

HFF’s Brian Carlton led a debt placement team in securing acquisition financing for the 536-room Westin Dallas Park Central at 12720 Merit Dr. HFF marketed the property for a JV of FelCor Lodging Trust and Starwood Hotels & Resorts Worldwide.  A partnership between Building and Land Technology and AWH Partners purchased the offering free and clear of debt.