This Week in Dallas-Fort Worth Deals
Texas Health Resources breaks ground Wednesday on a $37M upscale drug and alcohol addiction treatment facility called Texas Health Residential Treatment Center at 240 N Miller Rd in Mansfield.
The 80-bed facility will offer long-term treatment for adults and adolescents with a wellness approach. Amenities will include massage, a fitness center, an indoor basketball court, a yoga studio and a movie theater. Texas Health Residential Treatment Center also will offer limo service to and from Dallas/Fort Worth Airport for out-of-town clients. The 100k SF center will have four residence halls, divided by age groups: adolescents from 12-17 years old; young adults from 18-25; women; and general population of 25 and older. Beck will complete the architecture and construction. The facility is slated to open in May 2017. This is the first such stand-alone, long-term addiction treatment center for Texas Health.
EXECUTIVES
Holt Lunsford Commercial promoted Scott W. Moore to COO. He joined the company in 2003 and, most recently, served as EVP for management services and operations. Prior to 2015, he was managing principal of management services. He is the 2016 president-elect of Dallas BOMA.
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Sharon Friedberg joined Fischer as SVP. She comes to the firm from Bradford.
SALES
Stratford Group’s Andrew Prine worked three land sales including the disposition of 37.5 acres at the southwest corner of Harmon Road and Highway 287 in North Fort Worth. The seller was Stratford Land. The purchaser was a private investor, who plans to develop the site for retail use. Billingsley Co sold 16 acres within the Austin Waters community in Carrollton to Green Brick Partners, which plans to develop the lots and sell to homebuilder Southgate Homes. In the third deal Green Brick Partners also purchased 80 acres on the north side of Eldorado Parkway in Frisco from Brinkmann Ranches of Collin County. Andrew worked the deal with Charlie Adams. Green Brick plans to develop a combination of single-family homes and townhomes.
LEASES
Circle U Foods renewed 65k SF at 751 Eight Twenty Blvd in Fort Worth. Bradford’s Nick Talley repped the landlord, Exeter 700-751 Eight Twenty Blvd, in the direct deal.
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Americanstar Mattress leased 25k SF of showroom and distribution space at 1185 W Corporate Dr in Arlington from Avenue J Partnership. Bradford’s Will Dillard repped the tenant. JSC Realty Investment Services’ Bill Bexley repped the landlord.
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Yokogawa Corp of America expanded its lease to 10k SF at Avion Business Center in Carrollton with landlord Capital Commercial Investments. Younger Partners’ Trae Anderson negotiated the deal.
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Avanti Stones leased 12k SF at 10534 King William Dr in Dallas from EastGroup Properties. Bradford’s Susan Singer repped the tenant. Lee & Associates’ Adam Graham repped the landlord.
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Areli Medical Devices leased 23k SF at 2909 – 2919 Blystone in Dallas. Structure Commercial’s Eric Deuillet and Troy Morgan negotiated the lease.
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An out-of-state investor sold the 16k SF Vista Ridge shopping center (pictured) in Lewisville to Evans Properties. Pierson Retail Advisors repped the seller. The property is fully occupied. PRA also worked the sale of the 18k SF Skillman Towne Crossing in Dallas. PRA repped the seller, CIG Skillman. Evans Properties purchased this fully occupied asset, as well. Jennifer Pierson and Beth Pierson arranged the sale.
FINANCING
HFF secured $80M in financing for the 560k SF Mockingbird Station mixed-use development at 5307 E Mockingbird Lane in Dallas. HFF’s Michael Cosby and Wally Reid repped the borrower, an institutional client, to place long-term, fixed-rate acquisition financing through Cornerstone Real Estate Advisers. HFF also assisted in the sale of the property to the borrower in late 2015.
