This Week's Dallas-Fort Worth Deal Sheet
You know the old saying — when one trampoline facility closes, another one opens.
Jumpstreet sold 62K SF along with a 4.5-acre parking lot in Allen. The trampoline chain found a buyer that intends to bring another trampoline concept, Jumping World, to the same location.
The transaction reflects the trend of retail outlets continually turning to lifestyle and entertainment concepts to fill up retail shopping centers.
Jumpstreet Trampoline Parks of Denver sold the 2031 McDermott location in Allen to Houston-based ME & JSK Investment.
The purchaser intends to lease the same 40K SF once occupied by Jumpstreet to Jumping World.
Antique and home decor company LoneStar Mercantile will occupy the remaining 22K SF.
Lifestyle Realty’s Moon Kim represented the buyer, while Henry S. Miller’s Frank Bullock and Martin Gaines represented the seller.
EXECS
Financier and capital provider Trez Capital hired Alec Barry as senior vice president for the central and southwestern U.S. He will operate out of the Dallas office.
Barry previously served Simmons Bank in Fort Worth as regional president overseeing a $400M commercial real estate portfolio.
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Construction and development company Skanska USA promoted Amie Kromis as its first national director of vendor diversity. In this newly created position, Kromis will focus on strengthening the company’s Disadvantaged Business Enterprise Compliance Program, while also ensuring compliance with labor regulations involving minority, women and small-business program requirements.
SALES
Marcus & Millichap sold off a portfolio of three value-add apartment complexes in DFW on behalf of Dallas-based MacDonald Realty Group. The first property, Arlington-based Aspen Woods, a 228-unit property, sold to Dallas-based Sentinel Peak Capital.
A second property, Cobble Hill in Fort Worth, sold to Austin-based Obsidian Capital; and Lubbock-based Madera Residential acquired The Rochester in Arlington.
All of the properties were built between 1976 and 1983. Marcus & Millichap’s Al Silva marketed all three properties.
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A 14K SF office property known as the Medical Offices of Mansfield sold to a limited liability company this month. Marcus & Millichap’s Mark McCoy, Cody Payne and Wayne Bares marketed the property at 221 Regency Parkway in Mansfield on behalf of the seller. Payne also secured the buyer.
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An undisclosed buyer nabbed close to an acre at North Hewitt Drive and Panther Way in Hewitt. Retail Solution’s Brian Sladek represented the buyer, while Reid Peevey Commercial Real Estate’s Raynor Campbell represented the seller.
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Apartment complex Newport Landing is now in the hands of a Dallas-based 1031 exchange investor. The 185-unit property is in the Lake Highlands neighborhood of Dallas and was marketed by Marcus & Millichap’s Al Silva and Ford Braly on behalf of a private investor. The team also secured the buyer.
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Product Sourcing Group sold more than 12K SF at 618 North Great Southwest Parkway in Arlington to Military Mercer Properties. Mercer Co.’s Corby Hodgkiss served as the intermediary representative.
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Texoma Square, a 14K SF retail property in Sherman, sold this past week to a Texas-based buyer in a 1031 exchange.
Marcus & Millichap’s Vincent Knipp and Anthony Pucciarello handled the exclusive listing for the seller.
LEASES
Lucid Energy Group inked a deal to add close to 17K SF of office space inside Citymark at Katy Trail in Dallas, bringing its total lease space to 35K SF. The company now occupies two full floors in the 11-story tower at 3100 McKinnon St.
Bradford Commercial Real Estate Services' Richmond Collinsworth and Melanie Hughes represented the landlord, 3100 McKinnon L.P., while JLL’s Andy Leatherman represented the tenant.
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Marco’s Pizza renewed its lease at the Virginia Commons shopping center in McKinney. Retail Solutions’ Chris Flesner and Sam Littlejohn represented the landlord. The property is at 2741 Virginia Parkway in McKinney.
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Valley View Market renewed Rug Land as a tenant at its 4051 LBJ Freeway location in Farmers Branch. Retail Solutions’ Brian Sladek and Chris Flesner represented the landlord.
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Redline Athletics leased 15K SF at 1110 Eden Road in Arlington. Retail Solutions’ Chris Flesner represented the tenant, while CBRE’s Brian Gilchrist represented the landlord.
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The iCode franchise, which provides student with hands-on STEM and technology training, leased space in Plano and Southlake to expand its offerings. Henry S. Miller’s Natalia Singer represented iCode in both leases as the tenant rep.
The company selected more than 3K SF at Legacy Drive Village off Independence Parkway in Plano. Weitzman’s Maggie Hanson represented the landlord, S.C. Legacy Independence Ltd., in the transaction.
The franchise also leased more than 3K SF in Southlake’s Wyndham Plaza at 2750 Southlake Blvd. Edge Realty’s Josh Flores represented the landlord, WSG Wyndham Plaza Ltd.
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Tenant Extreme Sportscars signed a deal to sublease 10K SF at 4155 Billy Mitchell Drive in Addison from landlord Lake City Investment. Mercer Co.’s David Wilganowski served as the intermediary.
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Village Creek Business Park in Fort Worth leased 15K SF to Vivint Inc. Holt Lunsford Commercial’s George Jennings represented landlord TX Circle 182, while Woodley Real Estate represented tenant Brycen Woodley.
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HRK Enterprises renewed a lease for 10K SF at Village Creek Business Park in Fort Worth. Holt Lunsford Commercial’s Thomas Grafton and George Jennings represented the landlord, TX Circle 182.
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Office, hospital and classroom furniture manufacturer Steelcase Inc. leased a new spec manufacturing building at 1050 and 1150 Luna Road in Carrollton. The leased space spans 618K SF.
NAI Robert Lynn’s Mark Miller and Dave Peterson partnered with Arie Saloman from NAI Puget Sound to arrange the lease. Steelcase plans to move in this summer.
The new lease comes at a time of expansion for the company, with Steelcase announcing its recent purchase of Plano-based Smith System Manufacturing Co.
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Software firm Cytracom tripled its space inside AllenPlace. The company will soon occupy close to 12K SF there to accommodate plans to increase the company’s workforce by 30%.
The property is at 450 Century Parkway in Allen just off Highway 75. NAI Robert Lynn’s Kent Smith arranged the deal.
CONSTRUCTION & DEVELOPMENT
Hubbard Hall at Texas Woman's University, built in 1947, reached a milestone in its renovation project this past week when builder McCarthy Building Cos. celebrated the hall’s topping out ceremony.
McCarthy launched construction on 100K SF of renovations and 24K SF of additions in early 2018. The project is scheduled for completion later this year.
Hubbard Hall, which was once a dining hall, is now a conference facility and reception center.
More than 200 people attended the Hubbard Hall topping out ceremony in early June.
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Multifamily general contractor KWA Construction finalized construction on the McDermott Park Senior Living facility in Plano.
The facility, located at 8312 Angels Drive in North Plano, offers 144 residential units across two buildings. The luxury active adult community is the 15th project KWA has built out for Seneca Investments. The site includes a heated saltwater pool, a coffee bar, a theater, a computer center, lounges and a fitness center.
Property management company Portico will be leasing the units, adding to the 7,300 units it leases in 33 communities across the country.
CORRECTION, JUNE 13, 9:00 A.M. CT: A previous version of this story incorrectly stated the property transaction involving Jumpstreet included a parking garage as opposed to a parking lot. The story has been updated.
