This Week's Dallas-Fort Worth Deal Sheet
The Union Dallas office development now has a full-service banking center on-site.
Security National Bank of Texas is set to open its doors at 2300 Nort Field St. on June 8.
The bank will infill 4K SF of ground-level space at The Union, an upscale office tower in Uptown Dallas.
“We're excited to officially open our first location in the Texas market,” said James Landen Jr., the bank’s Texas market president. “We’re a bank that puts our customers first and we will continue to do so in an effort to help the Dallas community during these unprecedented times.”
EXECS
Infrastructure firm AECOM has named Nandita Kaundinya business development lead for the North Texas market. Kaundinya brings close to 20 years of experience in civil, mechanical and industrial engineering along with extensive team management experience and project oversight.
Kaundinya is tasked with growing the firm’s transportation footprint in Texas through cooperation with AECOM’s transportation development and project management units.
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Nicolas Elwood has joined Edge Capital Markets in Dallas as a senior associate of capital markets. Elwood will be focusing on investment sales, sale-leasebacks, financing, valuations services, and lease renewal and advisory services.
ACQUISITIONS/SALES
TAF Pinnacle Park LLC acquired 5.48 acres at 4252 Interstate Highway 30 in Dallas. Stream Realty Partners Jason Moser and Drew Feagin negotiated the terms of the transaction.
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Trinity Way Investments LLC sold 4900 El Campo Ave. in Fort Worth, a six-unit multifamily apartment complex in the Arlington Heights neighborhood.
A private investor acquired the property in a 1031 transaction in late April. The seller was represented by Vision Commercial's Zac Thomas and Elliot Barzilli, while the buyer relied on Marcus & Millichap.
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Quentin & Beverly Nichols sold 8 acres zoned residential in Kennedale to a California buyer in an all-cash deal.
The land is at 5868 Eden Road near Texas Highway 287 and Tierra Verde golf club in Kennedale, which is part of Tarrant County. Vision Commercial Real Estate’s Philip Green represented the seller, while the purchaser, Asset Preservation Inc., relied on Khammash Real Estate’s Terry Khammash.
CONSTRUCTION AND DESIGN
The Village at Rayzor Ranch apartment property in Denton is now complete, construction firm KWA announced.
The complex is a luxury multifamily destination inside the Razor Ranch Town Center mixed-use development.
KWA built out the project, which includes a four-story, 237K SF complex with one- and two-bedroom units. The site is at 3235 Heritage Trail Blvd.
LEASES
The Dallas Observer relocated its office from Uptown Dallas to 2030 Main St. in Downtown Dallas. Newmark Knight Frank Associate Director Garrison Efird handled negotiations for the news company.
The building’s landlord is tied to Dallas real estate development company 42 Real Estate.
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Comerica Bank Tower signed leases totaling 50K SF in the wake of significant renovations. New tenants include reinsurance provider AM RE Syndicate, litigation consulting firm Kenrich Group, law firm Morgan, Lewis & Bockius LLP and construction firm Swinerton.
5G studios assisted the building with design upgrades, which are credited for generating tenant interest.
“I think design matters and these deals prove that out. We have our common corridor and spec suite design at a great level — from finishes, to layout, the current iteration of pre-built suites have been well-received by the market,” M-M Properties Senior Vice President of Leasing Mike Silliman said.
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CommunityMed Urgent Care inked a long-term lease for medical office space inside NewQuest Properties’ Lantana Town Center in Bartonville, Texas, a city in Denton County.
Lantana Town Center is anchored by a 166K SF grocery-anchored project at 3400 Farm-to-Market 407.
NewQuest Properties owns and leases Lantana Town Center, and its Kevin Sims and Josh Friedlander secured the lease. Edge Realty Group’s Bruce Waxler represented CommunityMed Urgent Care.
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QFC Industries leased 26K SF of industrial space in the Forum 303 Crossing facility at 3201 East Arkansas Lane in Arlington. NAI Robert Lynn represented the tenant, Michael Stanzel, while CBRE’s Stephen Koldyke represented the landlord.
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W.O.E. Construction leased 20K SF of industrial space at 939 Avenue N in Grand Prairie. KW Commercial’s Moore Matthews represented the tenant, while NAI Robert Lynn’s Michael Stanzel represented the landlord.
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The Texas Golf Association has leased an undisclosed amount of space inside 16200 Addison Road in Addison. The tenant relied on ESRP’s Jarrett Dunaway and Amber Linville Gibson, while Bradford Commercial’s Melanie Hughes represented the landlord.
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Image Micro Spare Parts signed a lease for 42K SF at Luna Distribution Center at 2100 Luna Road in Carrollton. Stream Realty Partners’ Eric Crutchfield and Mac Hall represented the tenant.
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ComSovereign leased 15K SF at 5000 Quorum Drive in Dallas. Landlord G&I VIII 5000 Quorum LP hired Stream Realty’s Ryan Evanich, Chase Lopez and Brandon Terrell to handle negotiations, while ICB Properties represented the tenant.
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Inovar Packaging Group LLC renewed a 23K SF lease at Northgate II, located at 10470-10490 Miller Road in Dallas. Stream Realty Partners’ Matt Dornak and Adam Jones represented the landlord, Agellan Commercial REIT.
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Fulfillment by Eagle LLC leased 19K SF at Jetstar Service Center, 8181 Jetstar Drive in Irving. Transwestern represented the landlord, Denver Third Creek LLC, while Stream Realty Partners’ Ryan Boozer and Mac Hall represented the tenant.
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Printed Threads leased 21K SF at 210 South Freeway in Fort Worth. Stream Realty Partners’ Forrest Cook and Jeff Rein represented the private investor landlord, while Stream’s Brett Carlton represented the tenant.
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A fourth tenant is joining Jackson-Shaw’s Parc Northeast, a 434K SF Class-A urban industrial development in Richardson. Manufacturer Newline Interactive Inc. leased 48K SF inside Building 3, bringing the park’s overall occupancy to 50%.
THIS OR THAT
WorkSuites has a new coworking site in the North Dallas suburb of Allen. The firm delayed opening its newest DFW location inside Watters Creek after the coronavirus pandemic hit.
The site, which opened June 1, offers nearly 20K SF and includes 85 private offices surrounded by common areas, amenities and communal coworking.
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Sam Moon Group's luxury Hyatt Regency Frisco hotel is now open to the public. The hotel is attached to Stonebriar Centre in Frisco and brings a new high-end business travel, leisure and convention destination to the North Dallas suburb.
