This Week's Dallas-Fort Worth Deal Sheet
Megatel Homes is moving its corporate headquarters to Uptown Dallas.
The homebuilder and 300 corporate employees will relocate to Rosewood Court from the firm's existing headquarters in the Dallas suburb of Farmers Branch.
The Megatel Group focused its search on Uptown Dallas, where Rosewood Property Co.'s Rosewood Court beat out numerous competitors to land Megatel as a tenant.
“We’ve known for a long time that we wanted to call Uptown home, but we needed to find the right space,” The Megatel Group co-founder Aaron Ipour said in a press statement Monday. “After touring several of the top buildings in the area, we settled on Rosewood Court because of its elegance and the feeling of prestige you get as soon as you walk in the doors.”
EXECS
Engineering and consultancy firm WSP USA appointed Lori Fox as its Texas/Mountain regional manager for the firm's planning and urban development practice.
Fox will be based out of Denver while overseeing planning and environmental projects across Texas and the entire Mountain region.
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The Texas Building Owners and Managers Association named Crescent Property Services LLC Senior Property Manager Jonathon Jones president of the trade organization. Jones will be responsible for leading BOMA's property management advocacy efforts across the state. Jones works out of Crescent's Greenhill Towers in Addison.
SALES/ACQUISITIONS
Real estate investment firm Turner Impact Capital purchased the 312-unit Bridgeport Apartments community in Irving. The apartments were purchased through the Turner Multifamily Impact Fund II.
With this purchase, Turner Impact Capital brings its total number of owned housing units to roughly 10,000.
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Homebuilder Bloomfield Homes purchased 87 acres off South Hampton Road in Glenn Heights, Texas, for a future single-family home development. The builder intends to build 285 homes at the site.
Glenn Heights is south of Downtown Dallas near other growing DFW suburbs like Midlothian and Lancaster. Younger Partners' David Hinson brokered the land sale. Bloomfield acquired the acreage from three private sellers.
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Value-add commercial real estate investor CanTex Capital purchased the 125K SF 4901 North Beach St. industrial property in Fort Worth.
The two-building facility was sold by G&W Ventures, which relied on NAI Robert Lynn Fort Worth President Todd Hubbard to negotiate and broker the sale. The site comes with two buildings for industrial tenants. Hubbard will assist in leasing up the building as well.
The property sits about 1 mile from Interstate 35 and Loop 820.
LEASES
Billingsley Co.'s upscale Cypress Waters office development in Dallas-Fort Worth wooed a new corporate headquarters from Florida.
Software firm Optym will be moving its corporate office from Florida to 17K SF inside the 201K SF 3401 Olympus Blvd. building. Ninety employees will move into Cypress Waters in August.
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Goodman Distribution Inc. inked a lease for roughly 30K SF at Gateway East Business Center. The property is located at 4009 Distribution Drive in Garland. Stream Realty Partners' Ryan Wolcott, Matt Dornak and Drew Feagin represented the landlord, Barings, while Stream's Seth Koschak represented the tenant.
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WorldPac renewed its lease for 11K SF at 2931 Irving Blvd. in Dallas from landlord Entrada Partners. The landlord hired Holt Lunsford Commercial's Canon Shoults, Maddy Canty and Harrison Putt to handle negotiations, while Cushman & Wakefield's Robin Dodson represented the tenant.
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Novartis Services Inc. leased 13K SF at Everman Trade Center in Fort Worth. Newmark Knight Frank's Joe Siglin represented the tenant, while Holt Lunsford Commercial's Matt Carthey and Thomas Grafton represented the building owner, TA Realty.
