This Week's Dallas-Fort Worth Deal Sheet
Uptown's McKinney & Olive luxury office tower just hit 78% leased and it's still got five months before opening.
McKinney & Olive is a one-of-a-kind, mixed-use project offering world-class architecture by Pelli Clark Pelli Architects, plus premier Class-A office space in the Uptown Dallas neighborhood. The 530k SF structure will be the first commercial building in Dallas to be designed by an internationally acclaimed architect since the 1980s.
The new leases signed include Stackpath (27k SF), Trive Capital (13k SF), Prologis (12k SF), MHT Midspan (12k SF), Tailwater Capital (10k SF), Haworth (10k SF), Luther King Capital Management (9k SF), Sales Benchmark Index (6k SF) and Park Place Dealerships (4k SF).
EXECS
Michael Thimmig joined Alston & Bird as a partner in the finance group. He'll focus on structured finance, mortgage banking and secured lending transactions. Michael, who comes from Perkins Coie, is the sixth finance partner to join the firm since 2015.
SALES
Greysteel sold Walker Place, a 67-unit multifamily community in Dallas. The sale was led by Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill.
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Olympus Property purchased AMLI 7th Street Station, a 189-unit multifamily community in Fort Worth. IPA's Will Balthrope, Drew Kile and Rowan Burch repped the seller. The terms of the sale were not released.
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An undisclosed (but new to Dallas) buyer purchased Mill Valley, a 312-unit apartment project in Fort Worth. Transwestern's Taylor Snoddy and Phillip Wiegand repped the seller.
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A private investor purchased Spring Park Centre, a 27k SF retail property in Garland. The sale was repped by Marcus & Millichap's Bill Jordan.
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A private investor purchased a three-property portfolio of Dunkin' Donuts locations in Dallas. JLL's Jace Hinderland led the sales team.
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United Commercial Development's Robert Dorazil purchased a 21-acre property on the southwest corner of Bailey Boswell Road and FM-156 in Saginaw. DB2RE's Edward Bogel and David Davidson brokered. UCD will build a retail project and is working with DB2RE on the retail pad sites as well as selling the multifamily land on the south side of the property.
LEASES
Bradford Commercial Real Estate renewed three leases:
- Valley Truck Parts & HME renewed 12k SF of warehouse space in Grand Prairie. Michael Spain and Jim Ferris repped the landlord, OMO Investment Co Trust.
- Milestone Electric leased 11k SF of flex industrial in Grand Prairie. Michael Spain and Will Dillard repped the landlord, and David Rouble repped the tenant.
- Arguindegui Oil Co leased 13k SF of warehouse space in Waxahachie. Brock Wilson and Joe Santaularia repped the deal.
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Mercer Co repped Jeremy Mercer in the renewal of two leases: Tenant Baik Brands renewed 10601 King William Dr, 30k SF, and Marex Composites renewed 4900 Calvert St, 58k SF.
DEVELOPMENTS
Marcus Pasley, executive chef and owner of Clay Pigeon, will open Piattello Italian Kitchen, a 5k SF restaurant in Fort Worth's new Waterside Development.
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Perry Steakhouse and Grille is in development to open in 2017 in Grapevine. The 10k SF restaurant will contain an extensive bar and a spacious patio.
FINANCING
Metropolitan Capital Advisors arranged a $2.5M construction loan for a 24k SF retail center within the Roanoke Crossing Power Center, which is anchored by Walmart and Home Depot.
THIS AND THAT
Phase 1 of Hall Group's HALL Arts development, comprised of KPMG Plaza at Hall Arts, achieved LEED-CS Gold. This includes the 500k SF office tower and accompanying restaurant space.
