This Week's Dallas-Fort Worth Deal Sheet

After spending $135M on renovations, Trammell Crow Center managed to woo a new corporate tenant. 

ORIX Corporation USA plans to relocate from Comerica Bank Tower on Elm Street to Trammell Crow Center at 2001 Ross Ave., where it will occupy 100K SF.

Approximately 300 ORIX USA employees intend to make the move to the Arts District building.

Once at Trammell Crow Center, ORIX employees will benefit from 34K SF of retail, a 9K SF conference center, a large on-site gym and a modernized lobby area.

The center's renovation also includes development of a mixed-use project across the street featuring a nine-story, 2,000-spot parking garage with restaurants. 

"We’re excited to welcome ORIX USA employees and their clients to Trammell Crow Center,” Stream Realty Partners Senior Vice President Sara Terry said. “The company is growing and thriving, a clear match for our building and the Arts District overall." 

ORIX USA partnered with Colliers International’s Travis Ewert and Jihane Boury to create a workplace strategy for the company and to find a new Dallas location. 

Stream Realty Partners handles leasing and property management for Trammell Crow Center.

HKS Architects is the interior design partner for the new space, while Stillwater Capital's Mitch Paradise is serving as a project manager. 

EXECS 

Lindsay Kramer joined the law firm of Munsch Hardt Kopf & Harr P.C. as senior land use planner. 

Kramer is joining at a time when firm professionals are actively expanding the zoning and land use practice area. Kramer will be working alongside former Dallas City Council member and current firm shareholder Angela Hunt. 

“The addition of Lindsay Kramer elevates the Firm’s Zoning & Land Use practice to a full-service, turnkey operation that can guide clients through every step of the entitlement process,” Real Estate Practice Group Leader David Coligado said. 

As part of the team, Kramer will assist the firm and clients with complex zoning and entitlement applications, land-use issues, due diligence, right-of-way abandonments and licensing, building permitting and all other land-use and real estate matters that involve community outreach and government relations.

BKV Group has hired Jon Hubach as associate and director of pre-development services in Dallas.

Hubach is charged with building consensus among stakeholders working on complex developments while also creating innovative ideas to guide and direct various projects.

Hubach has extensive experience in government and urban planning after launching his career in Plano as a downtown planner, serving as a liaison between the city and economic development partners.

Hubach played an active role in revitalizing Downtown Plano and has extensive experience in development and zoning submittals, market research and downtown revitalization projects. Hubach also served the city of Dallas as an economic development analyst.

SALES

Westmount Realty Capital acquired an 11-story, multifamily high-rise, The View at Kessler, pulling the historic Kessler Park CRE asset into its portfolio. The high-rise, which is at 2511 Wedglea Drive near Oak Cliff, was originally designed by architect Walter Ahlschlager and built in 1964.

Westmount intends to conduct extensive interior and exterior renovations while also expanding the building’s on-site amenities and operational offerings. A dog park and recreational features will be added to the property, while interior upgrades are said to include an updated lobby along with renovations to the first floor café, fitness center, pool area and elevator systems. The owner also will transform the 11th floor into a sky lounge with a full kitchen, lounge, conference room and a furnished terrace. 

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Marcus & Millichap announced the sale of Advanced Fixtures Inc., a 41K SF industrial property in Greenville, Texas. The seller is a private investor who secured Marcus & Millichap’s Adam Abushagur and Sam Martin to list and market the property. The same team procured the buyer. The property is at 4410 Ed Rutherford Road in Greenville.

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Stonelake Capital Partners bought a 129K SF industrial warehouse at 8220 Ambassador Row in Dallas. Stream Realty Partners’ Jamie Jennings, Jason Moser and Andrew Rabinovich represented the seller, Brennan Investment Group.

LEASES

Cloud communications software firm Ribbon Communications Inc. signed a deal to lease 107K SF at Legacy Central campus in Plano. In its new space, the company will consolidate several DFW-area locations into one, while moving employees into a state-of-the-art facility that can accommodate an on-site research and development lab as well as a customer support center. 

The campus already includes corporate heavyweight tenants such as Samsung, Peloton Cycles, Spaces, Roland Technology Group and Adroit Health Group. 

Ribbon expects to move in early next year. 

CBRE’s Baron Aldrine, Steve Rigby and Layne Mayfield represented Ribbon, while Transwestern’s Nathan Durham and Duane Henley represented the landlord, Regent Properties.

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Maevn renewed a 68K SF lease at 13950 Senlac Drive in Farmers Branch. Holt Lunsford Commercial’s Andrew Gilbert represented the landlord while Stream Realty’s Eric Crutchfield represented the tenant. 

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Landlord Cabot Properties leased 57K SF at 2101 Hutton Drive in Carrollton to tenant Earl Owen Co. Inc.

Lee & Associates DFW’s Adam Graham represented Cabot Properties, while Earl Owen Co. was represented by Lee & Associates’ Corbin Blount and Holt Lunsford Commercial’s Clay Balch.

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Tenant Creation Technologies Texas LLC inked a deal to lease 66K SF at 1001 Klein Road in Plano from landlord Watanabe Plano LLC. Lee & Associates’ George Tanghongs and Brett Lewis represented the landlord, while the tenant rep was CBRE’s Tim Vogds.

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Regal Hardwoods renewed a 53K SF lease at Valwest Business Park II, which is at 1540 Selene Drive and 1735 West Crosby Road in Carrollton. Transwestern’s John Fulton represented the landlord, IPERS, while Stream Realty Partners’ Ryan Boozer represented the tenant.

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Tenant Miner Ltd. leased 29K SF at 10761 King William Drive in Dallas from landlord EastGroup Properties. Mercer Co.’s Keenan Cook represented the tenant, while the landlord relied on Lee & Associates’ Ken Wesson and Adam Graham to negotiate on its behalf.

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Highland Homes renewed a 41K SF lease in Parkwood Place I at 5601 Democracy Drive in Plano. Cushman & Wakefield’s Scott Hobbs represented the tenant, while Stream Realty Partners’ Matt Wieser represented the landlord, Admiral Capital Group.

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Cowles & Thompson chose to renew a 27K SF lease inside Bank of America Plaza at 901 Main St. in Dallas. Cushman & Wakefield’s Mike Wyatt, Bill McClung and Robbie Baty represented the tenant, while Peloton Commercial Real Estate’s Joel Pustmueller and Russ Johnson represented landlord, Dallas Main L.P.

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One Network Enterprise entered into a 21K SF sublease for 4100 Alpha Road in Dallas. Colliers International’s Stephen Rury and Jihane Boury represented the subtenant, while Cushman & Wakefield’s Dean Collins and Mark Collins represented the sublandlord, Homebridge Financial Services Inc.

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JDS Industries Inc. signed a 93K SF lease for space inside MacArthur Crossing Building B, which is at 2535 Gifford St. in Grand Prairie. Stream Realty Partners’ Drew Feagin and Luke Davis represented the tenant, while Cushman & Wakefield’s Kurt Griffin and Nathan Orbin represented landlord, Liberty Property L.P.

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General Insulation Co. renewed its 57K SF lease inside the Regal Distribution Center at 4747 Leston in Dallas. Cushman & Wakefield’s Gary Collett and Jay Lucas represented the tenant. The landlord, G&I VII Regal L.P., relied on Stream Realty Partners’ Drew Feagin and Hanes Chatham.

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SHB Development picked Stream Realty Partners’ J.J. Leonard and Rhett Miller to handle leasing of its office development, 17230 North Dallas Parkway. The 48K SF office property sits on the east side of the Dallas North Tollway and south of Knoll Trail Drive.

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Stream Realty Partners’ Ryan Wolcott and Matt Dornak negotiated landlord CPF Gateway 190’s lease of 30K SF to tenant Nongshim America Inc. The space leased is inside Gateway East Business Center at 4009 Distribution Drive in Garland. Landmark Realty Group’s Eddie Yoo represented the tenant.

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Service Spring Corp. entered into a lease for 37K SF at Gateway 161 Corporate Park, at 4450 West Walnut Hill Lane in Irving. Stream Realty Partners’ Bob Hagewood and Jeremy Kelly represented landlord Hines Interests, while Hrothgar LLC’s Devin Rogers represented the tenant.