This Week's Dallas-Fort Worth Deal Sheet
The Dallas-Fort Worth suburb of Westlake continues to retain and attract large-scale corporate tenants.
Insurance agency Goosehead Insurance is now occupying a total of 150K SF inside The Terraces at Solana office development, growing its existing headquarters space at the site by 42K SF.
The agency now occupies all of Building 4 and the fifth floor of Building 1 at 1500 Solana Blvd. The company first moved into the campus three years ago, occupying 62K SF initially and then expanding to 108K SF in 2018.
CBRE's Josh White, Chelby Sanders and Ryan Buchanan represented Goosehead during negotiations, while JLL's Jeff Eckert and Blake Shipley represented the landlord, Glenstar.
EXECS
Stream Realty Partners named Seth Koschak and J.J. Leonard partners in Dallas-Fort Worth this week.
Leonard joined Stream in 2015 and oversees the firm's office leasing team. During his time with the company, he has grown the company's office portfolio from 8.1M to 16.1M SF under representation.
Koschak has been with the industrial team for 11 years and left the Dallas office five years ago to open Stream's Fort Worth office while serving as managing director.
LEASES
Health club Fitness Connection leased 55K SF of retail space at Golden Triangle Mall in Denton. The growing gym club offers memberships at prices as low as $10 a month.
Golden Triangle Mall is managed and leased by Weitzman and recently underwent extensive renovations.
Weitzman's Steve Greenwood and Byron Howard handled negotiations on the mall's behalf, while The Retail Connection's Susan Ridley and Sherman Hinkebein represented the tenant.
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Wealth management and investment firm Stifel signed a lease for 20K SF inside Harwood No. 10 in the District of Harwood in Dallas. The firm will consolidate its Dallas Private Client Group offices inside the building. Cushman & Wakefield's Cribb Altman, Scott Shelbourne and Mike Wyatt negotiated the terms of the lease with Harwood's Kelly Whaley and Hannah Waidmann.
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Amcor Rigid Plastics USA Inc. grew its lease at 4100 Fleetwood Road in Fort Worth to 270K SF. Campio's David Stechly and Greg Kloiber represented the tenant, while ML Realty Partners' Matthew Smith represented the landlord.
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Corrugated Partners leased 15K SF of industrial space inside the Interstate 30 Distribution Center at 920 113th St. in Arlington. NAI Robert Lynn's Patrick Embry represented the tenant.
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Lexitas renewed and expanded its lease to 18K SF inside the Republic Center in Dallas' central business district. Younger Partners’ Trae Anderson and Kathy Permenter represented the landlord, while JLL's Conor McCarthy and Maggie Birnbach represented the tenant.
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Tax and accounting firm Mazars USA LLP opened its first Texas office in Dallas last month when it moved into 100 Crescent Court.
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Mexican restaurant Enchiladas Ole’s has signed a lease for a second location in DFW at 9005 North Tarrant Parkway in North Richland Hills. JLL’s Austin Speni represented the tenant.
ACQUISITIONS
A joint venture formed by Tucker David Investments and Wynne/Jackson acquired 182 acres in Royce City to build a 755-home single-family residential development known as Creekshaw.
The site will be built out in three phases. The project also involves core investment partners represented by Paul and Ben Pogue.
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Vision Commercial Real Estate's Clint Renfro negotiated the sale of 2929 Alta Mere and 6300 Shady Oaks Manor in Fort Worth and finalized a lease with Sleep Smart at 5101 Davis Blvd. in North Richland Hills. Vision Commercial represented the buyer of the Alta Mere location, while the seller was self-represented.
Re/Max Achievers Robbie Renfro represented the buyer of the Shady Oaks Manor property while Vision Commercial represented the seller.
On the lease transaction, Vision negotiated for the landlord, and the buyer was self-represented.
CONSTRUCTION/ARCHITECTURE
Melissa United Methodist Church has a new worship center and nursery under construction. Designed by Shanks Architects with Project Advocates serving as the project manager, the project broke ground with Talley Riggins Construction Group leading the build-out process.
The worship center and nursery will be complete by early next year. The site will offer a flat-floor worship space, moveable seats accommodating up to 329 people and six handicapped seats in the sanctuary.
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A 103K SF office building under construction as part of Centurion American's Mercer Crossing mixed-use project in Farmers Branch is expected to deliver in December.
Younger Partners' Kathy Permenter and Garrett Marler have been selected to lease the new building, known as Three Hickory Centre, which sits on 5 acres at 1801 Whittington Place in Farmers Branch. The building will deliver its interiors in shell condition, so tenants can enact their own designs and tenant improvements.
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Homebuilder Megatel Homes acquired a 29-acre parcel of land in Mansfield to construct a $40M residential project featuring 112 single-family homes.
The development, known as Mitchell Farms, will offer homes in the 1,700 SF to 4,500 SF range, with a maximum market value of $450K and a minimum value of $280K.
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¡Yo Quiero! Brands recently opened a 45K SF distribution facility in the North Texas town of Rhome, a small city west of Dallas. The distribution facility is part of the firm's ongoing expansion as it continues to distribute small-batch guacamole, salsa and queso products across the U.S. and Mexico.
The company also opened a new facility in Mexico.
THIS OR THAT
The Allen City Council has approved a $3M small-business grant program to help businesses in the city suffering from closings and other distress points during the coronavirus crisis. The Allen Economic Development Corp. announced the program Monday, noting funding will be provided by Collin County under the federal CARES Act.
The grant application process begins on June 24 and lasts through June 30.
