This Week's Dallas-Fort Worth Deal Sheet
Pillar Commercial offloaded its 121K SF 2703 Telecom building in Richardson to Goldenberg & Associates.
At the time of the sale, the property was 100% leased with construction firm Hill & Wilkinson recently inking a 10-year lease.
Colliers International's Creighton Stark and Chris Boyd helped facilitate the sale.
“This building received multiple offers well above the expected trade price,” Stark said. “We seamlessly closed in the midst of the worst pandemic our country has ever experienced, as well as the worst financial dip in over three decades.”
The building is located north of the President George Bush Turnpike at 2703 Telecom Parkway in Richardson, with easy access to the turnpike and close to Central Expressway.
EXECS
Design and build firm KAI Enterprises promoted Larry Pijut to vice president of architecture and engineering operations. He will oversee architectural and engineering business operations in the firm's Dallas, Atlanta, Fort Worth and St. Louis offices.
ACQUISITIONS
Sports and fitness-related facilities continue to look for spaces to operate gyms across North Texas.
One such business is Dakota Gymnastics, which acquired 1.5 acres at the northwest corner of F.M. 544 and McCreary Road from Murphy Equity Management. The seller relied on Bright Realty's Britton Lankford to handle negotiations, while the buyer hired JLL's Michael Meaden.
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The Stonebrook Square strip center in Frisco has been sold to an undisclosed buyer from California.
The center is 100% occupied and features a variety of tenants from an orthodontist to a music studio to a martial arts studio. Located at Stonebrook Parkway and Teel, the strip center has access to a neighborhood where the average household income within a one-mile radius reaches well over $205K.
STRIVE represented the seller.
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Ampler Development acquired 2 acres at Summer Creek Station in Fort Worth. The site will be used for a new Burger King and is close to an existing Walmart.
Shop Concepts represented the purchaser, while Transwestern's Mason Bishop, Steve Williamson, Cullen Finnegan and Larry Jordan represented the seller.
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Retail Buildings Inc. bought 47K SF at Hunter Crossroads in Fort Worth. The site sits at the corner of U.S. Highway 287 and Avondale-Haslet Road.
Transwestern's Mason Bishop and Steve Williamson represented the buyer and the seller.
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The Ridge Road Town Center at 2455 Ridge Road in Rockwall has been sold.
Wellington Realty’s David Shaffer, Caleb Jones, Tammy Shaffer, Curtis Sung and Brandon Johnson helped negotiate terms of the transaction. The asset is a 54K SF neighborhood center built in 2005 that is just blocks away from Interstate 30.
LEASES
KAL Freight Inc. signed a deal to occupy nearly 50K SF at 600 109th St. in Arlington.
The lease brings the building, which is inside the Great Southwest Industrial District, to a more than 90% occupancy rate.
KAL Freight hired SVN Dunn Commercial Management's Payne Pittman and David Dunn to handle negotiations. Transwestern's John Brewer and Riley Maxwell assisted the building owner.
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Dayton Superior Corp. renewed a 51K SF lease for office and warehouse space inside Fort Worth's River Park Business Center at 15124 Grand River Road.
Bradford Commercial Real Estate Services' Michael Spain represented the landlord. CBRE's Brian Gilchrist and Steve Koldyke represented the tenant.
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Redline Athletics leased 21K SF at 320 East Main St. in Crowley. RESOLUT RE's Chris Flesner represented the tenant. NAI Robert Lynn's Jon McDaniel represented the landlord.
THIS OR THAT
Retail and mixed-use development and services firm Trademark Property Co. launched a $100K initiative to support DFW-based food organizations during the coronavirus crisis. The firm also will support food service providers in 12 of the markets it operates in across the country.
CORRECTION, MARCH 14, 10:17 A.M. CT: A previous version of this article had the incorrect spelling for NAI Robert Lynn's Jon McDaniel. The story has been updated.
