This Week's Dallas-Fort Worth Deal Sheet
Duke Realty Corp. secured a 470K SF long-term industrial lease at its 3200 Kingsley Road facility in Garland.
Plastipak Packaging Inc. renewed and expanded its space inside the 531K SF facility, giving Duke Realty a steady tenant for the majority of the building.
Duke started planning for the expansion five years ago and was able to accommodate Plastipak's need for more space once a planned move-out occurred at the site.
The 3200 Kingsley asset has parking for up to 583 cars and 39 trailers and features 92 dock doors and three drive-in entryways.
EXECS
Multifamily developer JPI promoted Payton Mayes to divisional president and managing partner.
Mayes' promotion is tied to his success handling portfolio transactions, pre-construction project sales and business growth for the firm across DFW. He will oversee multifamily regional operations, site acquisition, development, design management, construction, capital markets, disposition and portfolio management.
SALES AND ACQUISITIONS
Univesco sold the Stewart Creek Apartments in Frisco to Lubbock-based Madera Residential.
Univesco relied on Berkadia's Jay Gunn, Tom Burns and Will Jarnagin to handle negotiations, while Jason Rice and Chris Pollard handled the loan on behalf of the buyer.
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Nearly 2 acres of retail land at 102 East Danieldale Road in Duncanville has been sold to Italy Family Pharmacy Inc. in Grand Prairie.
Henry S. Miller's Scott Axelrod negotiated terms of the sale.
LEASES
The Santander Tower in Downtown Dallas is now being leased by Colliers International.
Formerly known as Thanksgiving Tower, the 50-story, 1.4M SF building at 1601 Elm St. will be handled by Colliers' office leasing agency led by Sara Terry.
The tower underwent a $40M renovation in 2017.
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Odessa-based Zenith Solar inked a long-term lease for 14K SF of office and warehouse space in the Great Southwest Industrial District. The firm's new site is inside the Interstate 30 Service Center at 1025 Avenue G in Arlington.
Dallas-based Bradford Commercial Services Josh Meraz represented the tenant. NAI Robert Lynn's Robert Stanzel represented landlord TJJ Properties LLC.
CONSTRUCTION/DEVELOPMENT
Phase 1 of the Denton Crossing @ I-35 industrial project in Denton is now finished, bringing 525K SF of spec industrial space into the market.
Phase 2 has now broken ground, developers Scannell Properties and Ironwood Realty Partners announced. In this new phase, developers will bring another two buildings with 700K SF into the industrial hub.
A 398K SF property from the first phase has been leased out to EMLS. The tenant hired Frazier Commercial's Don Frazier to handle negotiations, while Ironwood Realty Partners' Todd Jones and Scannell Properties' Kris Arviso oversaw the process for the landlord.
