This Week's Dallas-Fort Worth Deal Sheet
Coworking firm Common Desk is planting its corporate headquarters in Downtown Dallas' West End historic district.
The coworking provider is moving its corporate headquarters from Deep Ellum to the West End to infuse the re-emerging neighborhood with access to its modern-day office product and additional daytime foot traffic.
Common Desk chose Granite Properties' Factory Six03 building, which is known for its walkability and access to Downtown retailers and restaurants. Granite repurposed the historic warehouse building, transforming it into a modern-day building featuring flexible workspaces and comfortable common areas.
Common Desk aims to take part in the ongoing revitalization of the West End area.
"We were able to do this over the years in Deep Ellum and now we’re ready for it in the West End. We were also looking for a centralized location that offered ultimate flexibility for our growing team,” Common Desk CEO and founder Nick Clark said.
“As a coworking firm we understand the importance of inspiring work environments that allow people to be creative and highly productive, and that is what Factory Six03 is all about."
The Granite Properties building served as the iconic West End Marketplace for years and now offers 215K SF of restored office space featuring a mix of natural materials from the building's past along with select art pieces and sculptures and newly created communal spaces for collaboration.
EXECS
McCarthy Building Cos. is tackling the construction workforce shortage head-on with the hiring of Trina Parks to fill the newly created position of director, craft training and development. Parks will oversee and design the company's strategy for developing a quality craft workforce while overseeing training and resources.
Prior to joining McCarthy, Parks served as a learning and performance manager at Oceaneering, overseeing the firm's 8,000-plus employees. She also managed training programs at Mitsubishi Caterpillar Forklift America, the International Facility Management Association and BMC Software.
SALES
A Frisco shopping center anchored by a Market Street grocery store is now in the hands of InvenTrust Properties Corp.
The Illinois-based company, which focuses on acquiring grocery-anchored open-air retail centers, paid $71M for Eldorado Marketplace, a 186K SF shopping center at 11999 North Dallas Parkway in Frisco.
The center was 95.6% leased at the time of the sale and is home to name-brand tenants such as PetSmart, McAlister's Deli, AT&T and UPS.
CBRE's Chris Cozby, Jim Batjer, Mark Witcher and Blaine Dozier represented the seller. The previous owner is Fidelis Realty Partners, which acquired the site several years ago.
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A move-in ready warehouse at 1900 Lone Star Drive in Dallas quickly moved from a lease offering to a sale when First American Exchange Co. asked for permission to purchase the 38K SF warehouse in Lone Star Park in an off-market transaction.
The purchaser is a 1031 exchange buyer and intends for the space to house a specialty tire retailer.
The seller of record, SL4 DFW Industrial L.P., which is associated with property owner Stonelake Capital Partners, relied on Bradford Commercial Real Estate's Brock Wilson and Joe Santaularia during negotiations, while Stream Realty Partners' Drew Feagin represented the buyer.
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The 11K SF Plano Medical Plaza at 3721 West 15th St. in Plano sold to an undisclosed buyer. Retail Solutions' Alan Rust and Brian Sladek represented the seller, while Trinity Realty's Alex Costet and Lisa Estrada represented the buyer.
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A Plus Boat Club, a 60K SF self-storage facility at 8955 Boat Club Road in Fort Worth sold to a self-storage operator based in Denver.
Marcus & Millichap's Brandon Karr and Danny Cunningham marketed the property for the seller, a private partnership based in Fort Worth. Karr's team also helped secure the buyer.
LEASES
Ellen's Restaurant is opening another Collin County location, this time in Frisco, with the restaurant chain signing a 10-year lease at Stonebriar Commons Shopping Center at 1339 Legacy Drive. The restaurant opens in January.
Henry S. Miller's Andy Anderson represented Ellen's in negotiations for nearly 6K SF inside the center, while DBA Commercial Real Estate's Tim McNutt represented the landlord, Legacy Commons Retail I L.P.
The company already has a location on North Record Street in Dallas and a lease signed inside Allen Central Market in Allen.
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Global IT services provider Abacus Group leased nearly 7K SF at 2401 Internet Blvd. in HALL Park.
The firm, which is headquartered in New York, intends to move its satellite Dallas office to HALL Park in Frisco in November.
Rubicon Representation's Charlie Otte represented Abacus Group, while HALL Group’s Kim Butler, Brad Gibson and Cynthia Cowen represented the landlord.
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Surface Preparation – Texas LLC leased 19K SF of flex industrial space in Trinity West Business Park, 2450 114th St. in Grand Prairie. Bradford Commercial Real Estate Services Jim Ferris and Michael Spain represented the landlord, William J. Owen Trust and OMO Investment Co., while Lee & Associates DFW's Colton Rhodes and Mark Graybill represented the tenant.
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Lalo’s Fine Mexican Cuisine is opening a second restaurant location, inking a seven-year lease at Park Place Shopping Center at 6401 West Plano Parkway in Plano.
Henry S. Miller's Andy Anderson represented Lalo’s Fine Mexican Cuisine in securing the 2K SF space while landlord RPAI via 3503 RP Park Place L.P. was represented by CBRE's Dan Shoevlin. The original Lalo’s, located at 18484 Preston Road in Dallas, also remains open.
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New coworking concept Hatchways from Dallas-based Rebees is launching in Dallas' Victory Park, offering a membership-based workplace complete with a fast-casual café inside. Hatchways is opening its doors to new members on Sept. 30.
