This Week's Dallas-Fort Worth Deal Sheet
A renovated 101-year-old Fort Worth office building with a glass conference room that travels to each floor like an elevator is up for grabs.
Transwestern announced its listing of the 33K SF Winfield Place building, located at 210 East Eighth St. in Downtown Fort Worth.
The seller, Left Deep Left LP, spent $7M in upgrades and turned an old car lift inside the asset into a traveling glass conference room that can be accessed on each floor of the building through the push of a button.
“Winfield Place presents a rare opportunity to purchase a fully renovated and iconic office building,” Transwestern principal and broker for the asset Kirk Kelly said in a statement. “The property is ideal for an investor or user that is looking for a plug-and-play office opportunity, and it is well-suited for single or multiple tenants.”
The building dates back to 1919 and was initially designed as a parking garage complete with an auto lift for the Winfield Hotel.
Enough of the building was conserved during renovations for the Historic Fort Worth Association to grant the asset its Preservation Award.
EXECS
Transwestern named Doug Prickett senior managing director of investments and analytics. Prickett will lead the group's research initiatives and work on the development of advanced analytics and technologies to support investment strategies, asset selection, underwriting and portfolio management.
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General contractor FMGI out of Georgia opened a Dallas office to meet growing demand in the area and assigned two leaders to the North Texas location. The firm appointed Dallas Division Manager Bradley Brown to the new regional office and named Monica Ealba assistant project manager.
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SRS Real Estate Partners named Aaron Johnson managing principal with the Investment Properties Group in Dallas-Fort Worth. Johnson brings 18 years of experience in retail real estate to the position and is experienced in investment sales, allowing him to help strengthen the capital market capabilities the firm has across the central U.S.
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Berkadia named Director Justin Kennedy to its mortgage banking division in the Dallas office.
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Talley Riggins Construction Group hired Robert Martin as a project executive. Martin is tasked with expanding the firm's industrial and office groups. He brings more than two decades of construction experience to his new role, having previously worked on a variety of projects in the 20K SF to 1.6M SF range.
ACQUISITIONS
The 170-unit Heather Village apartment complex in Fort Worth has been sold. Located at 6000 Boca Raton Blvd., the asset is slated for a complete renovation with the undisclosed buyer expected to reposition it from a Class-C to B asset.
Greystone | Investment Sales Group's Todd Franks represented the seller.
LEASES
AG Commercial Management hired Bradford Commercial Real Estate Services to handle leasing activities for its White Rock Tower office property in northeast Dallas.
The 72K SF mid-rise office building is in a mostly residential neighborhood at 6510 Abrams Road in Dallas. Bradford's Melanie Hughes and Erik Blais are marketing the live-near-work aspect of the property in their leasing efforts for the tower.
The tower is 90% leased with 49 tenants, including RE/MAX DFW Associates. The building's owner is in the process of organizing a major overhaul of the lobby, the tenant lounge and the fourth-floor conference center.
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1000Bulbs.com inked a 203K SF lease at the Urban District 30 logistics hub in Mesquite from Urban Logistics Realty. Stream's Blake Kendrick and Seth Koschak represented the tenant, while ULR leaned on Stream Realty's Drew Feagin and Matt Dornak.
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Gables Residential Services renewed its lease for 15K SF inside 3811 Turtle Creek. Newmark Knight Frank's Garrison Efird, Louis Pascuzzi and Jim Cooksey represented Gables Residential Services, while Transwestern's Scott Walker, Kim Brooks and Justin Miller handled negotiations for the landlord.
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Cardinal Financial Co. signed a lease for 22K SF at Park Ventura Office Park, at 5055 Park Blvd. in Plano. The property is owned by Starwood Property Trust, which relied on Madison Marquette brokers Kurt Cherry and Michael Carmichael during lease negotiations. The tenant hired Transwestern's David Besserer.
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Arrow Electronics Inc. signed a new 23K SF lease at Ballpark Circle in Arlington. The building is located at 1401 Nolan Ryan Expressway and is owned by Lexington Realty Trust. Madison Marquette's Kurt Cherry and Michael Carmichael represented the landlord, while Newmark Knight Frank's Jim Landsaw represented the tenant.
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The nonPareil Institute leased 12K SF at Park Ventura Office Park in Plano, at 5085 West Park Blvd. Starwood Property Trust owns the building and hired Madison Marquette's Kurt Cherry and Michael Carmichael to handle the lease. The tenant relied on Newmark Knight Frank's John Shaunfield and Kyle Jett.
CONSTRUCTION/DESIGN
A 36K SF recreational facility is ready for use in Arlington.
Sundt Construction finalized its build-out of the Beacon Recreation Center in September. The building is bringing a community asset into the submarket that features a gym, aerobics room, track, playground, skate park and walking trail.
The center is located at 1100 Mansfield Webb Road next to Webb Community Park.
Sundt recently finished construction work on the University of North Texas Biomedical Engineering Addition in Denton and is in the process of building out the Denton County Administration Complex Phase 3.
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KDC and JBP Properties are developing the third phase of Plano's Parkside on Legacy development. The 16-acre development site can accommodate upward of 500K SF of office space.
“KDC has developed over 7.8M SF of corporate development in Legacy Business Park, and these 16 acres are perfectly suited for the next major commitment from a corporation looking for an opportunity for a new build-to-suit corporate home,” KDC Vice President of Development Peter Yates said in a statement. “Parkside III offers a world-class setting and the opportunity to design an office environment of the future with social distancing in mind.”
Myers Commercial's Bob Myers is helping KDC market the Parkside III project. The site has immediate access to Preston Road and the Dallas North Tollway near Legacy Town Center and Legacy West in Plano.
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Boot and footwear maker Ariat International plans to open a 1M SF regional distribution center in Fort Worth this fall. The company has been working alongside Denton County, the state of Texas and Fort Worth officials to bring new jobs and a large distribution outlet to the area.
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KWA Construction topped out Phase 2 of its Columbia Renaissance Square multifamily project in Fort Worth. The second phase of this project includes the build-out of 123 affordable senior living units for tenants over the age of 62.
THIS OR THAT
The former El Vecino space at 4514 Travis St. in Dallas has a new fitness tenant. Yoga instructors Kalene McGraner and Nicole Preston will be opening Ritual One at the site, offering clients everything from high-intensity interval training classes to yoga inside the Travis Walk development.
The fitness site will open sometime this fall.
CORRECTION, SEPT. 28, 8:42 A.M. CT: A previous version of this story misspelled the name of Kalene McGraner. The story has been updated.
CORRECTION, SEPT. 28, 4:30 P.M. CT: A previous version of this story misspelled the name of Monica Ealba. The story has been updated.
