This Week's Dallas-Fort Worth Deal Sheet
WorkSuites has rolled out a new coworking concept, known as WorkTank, to offer homebound, pandemic-fatigued office employees a place to go where they can access a mix of casual coworking pods, desks and private offices.
While the existing WorkSuites concept offers clients private offices with amenities throughout the firm's common areas, WorkTank allows for social distancing.
WorkSuites just opened its first WorkTank location at 6060 North Central Expressway in Dallas. The brand is one of the first WorkSuites designed from scratch with social distancing in mind. Guests can access private offices or operate from a series of socially distanced work pods and single-desk work stations.
“We believe the best way to cater to different types of customers is to develop distinct brands with distinct spaces—that’s where WorkTank comes into play. We have seen a dramatic increase in demand for part-time and creatively flexible coworking options as people grow tired of working from home, but don’t want a WeWork-style setting,” WorkSuites CEO Flip Howard said in a statement.
EXECS
KAI announced the expansion of its engineering group with the appointment of three Dallas-Fort Worth area professionals.
The company hired senior mechanical designers Edna Bartolomei-Diaz and Khan Okouny Pouch and added Mariliz Peniza as a mechanical designer for its Dallas-Fort Worth area office.
ACQUISITIONS
The 376-unit garden-style apartment complex known as the Kinstead in McKinney has been sold.
The community is located off the Highway 121 Corridor, and developer ZOM Living announced its sale to a fund sponsored by CBRE Global Investors.
The seller relied on Newmark Knight Frank’s Brian O’Boyle Jr. and Brian Murphy to handle negotiations.
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The 267-unit CityScape apartment complex in Dallas has been sold to Wedgewood Inc.
Greystone | Investment Sales Group’s Chibuzor Nnaji and Mark Allen represented the seller and procured the buyer. The site is located at 6466 Ridgecrest Road in Dallas.
As part of the final sale, both Wedgewood and Greystone agreed to contribute $615K to the seller’s preferred charity.
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The two-story, 138-unit Bonita Gardens Apartment complex on Fordham Road in Dallas is now in the hands of a new owner.
The complex, built in 1976, is a Class-C asset sold to an undisclosed Dallas-area buyer in an all-cash transaction.
Colliers International’s Mark Allen and Courtland Charles helped negotiate the sale. The complex is located at 3410 Fordham Road.
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Mattu Enterprises has acquired a nearly 12K SF industrial building and close to an acre at 9101 Sovereign Row in Dallas. The seller is Hart-Willis Companies of Texas, which hired Henry S. Miller’s Dan Spika to handle negotiations. Meanwhile, Mattu Enterprises relied on Lee & Associates Stephen Williamson.
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The 21K SF Boswell Towne Center in Saginaw has been sold. The 100% occupied retail strip center is anchored by an Albertson’s grocery store. Commercial real estate firm STRIVE represented the undisclosed seller.
LEASES
Venture X has leased 22K SF inside the 200K SF Braniff Centre at Love Field mixed-use development. This is the coworking firm’s 10th location in Dallas-Fort Worth.
Cushman & Wakefield’s Tom Sutherland, Ryan Hoopes and Sarah Savage handled negotiations on behalf of the tenant.
The new Venture X site will be inside a 35K SF office building at 7701 Lemon Ave. The area, which formerly housed Braniff Airlines Operations and Maintenance Base, is undergoing a multimillion-dollar redevelopment.
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11th Hour Laborer LLC inked a nearly 16K SF lease with Prologis in Grapevine. The landlord relied on Transwestern’s Brett Owens and Clayton Johnson to handle negotiations.
