This Week's Dallas-Fort Worth Deal Sheet

A 10-story office building is expected to open in Dallas’ Design District in the third quarter of 2023.

Thirteen Thirty Three is the first new office building to come to the Design District in decades, per Transwestern. The 120K SF building at 1333 Oak Lawn Ave. in Dallas is being developed by Quadrant Investment Properties, a Texas-based real estate investment firm, and FCP, a privately held real estate investment company based in Maryland.

“For some time now, we have felt a shift in the way users of office approach their space needs, with a focus more on curating the culture of their companies,” QIP founder Chad Cook said in a statement. “We believe there is significant demand for a smaller scale office building that still provides the full offering of non-commodity amenities. Thirteen Thirty Three is the culmination of that thought process.”

Transwestern’s Paul Wittorf, Kim Brooks, Laney Underwood and Natalie Serio will oversee leasing for the property, which includes nearly 118K SF for office users, according to the release. Thirteen Thirty Three will also include close to 11K SF of amenities and a ground-level restaurant. 

“The momentum and energy in the Design District is palpable, and we are excited to bring to Dallas a differentiated project that enables corporations to innovate and encourage a strong culture,” Erik Weinberg, principal with FCP, said in a statement.

PEOPLE

Dallas-based commercial real estate private equity firm Realty Capital Partners named James Mangum as its new vice president of acquisitions. Mangum formerly worked at Edge Capital Markets. 

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KAI Design named Charles Hoffmann as senior project architect for its DFW office. Hoffman brings more than 35 years of experience in design, production and construction administration to this new role, where he will be responsible for functional space planning, development of design and construction documents. He will also work with KAI’s multidisciplinary team to maintain design continuity and constructability of projects.

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SkyWalker Property Partners promoted William Welder to director of acquisitions and capital. Rachel Marion was promoted to director of accounting, and Marijke Van Stichel was promoted to director of administration and property accounting. These changes follow the retirement of the firm’s longtime chief operating officer, Carol Coffman-Sosebee, and the departure of Clint Holland, longtime acquisitions director, who left to begin his own firm.

SALES

Disney Investment Group brokered the sale of Sylvan Thirty, a 47K SF mixed-use, grocery-anchored shopping center at the northeast corner of Interstate 30 and Sylvan Avenue in Dallas. David Disney and Adam Crockett of DIG represented the seller, an affiliate of Oaxaca Interests, and procured the buyer, an affiliate of Crow Holdings Capital.

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Disney Investment Group brokered the sale of Craig Crossing, a more than 128K SF shopping center at the southwest corner of Central Expressway and Eldorado Parkway in McKinney. David Disney and Adam Crockett of DIG represented the private seller and procured the buyer, ALTO Real Estate Funds.

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Disney Investment Group brokered the sale of Lewisville West, a more than 129K SF grocery-anchored shopping center at the northwest corner of Interstate 35E and Fox Avenue in Lewisville. David Disney and Adam Crockett of DIG represented the private seller and procured the buyer, Newport Capital Partners.

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Henry S. Miller Equity Partners represented Oakmont Land Six LP in the sale of Main Street Crossing, a 24K SF retail center at 615 Main St., Frisco. Frank Bullock, Michael Gresback and Maury Levy brokered the transaction on behalf of Henry S. Miller Equity Partners. Tim Axelrod with Shop Cos. represented the buyer, Main STX LLC.

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MAG Capital Partners sold a three-building industrial portfolio across Texas to an Israel-based real estate fund for an undisclosed price. One of the properties is a 137K SF building located in Dallas at 1100 Plano Road. The sites are occupied by Cameron Ashley Building Products Inc., a national two-step distributor of roofing, insulation, gypsum, siding and other specialty building products. Led by principals Dax T.S. Mitchell and Andrew Gi, MAG Capital Partners was represented by Chelsea Mandel, Jonathan Wolfe and Jordan Shtulman with Stream Capital Partners, who also secured the buyer.

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Thor Equities Group sold Building A at Logistics Center at McKinney to real estate investment company AC Industrial LLC. The close to 130K SF spec building sits on 65 acres at 3601 North McDonald St. in McKinney. Stream Realty Partners represented the joint venture with Morgan Stanley in the sale of the building. Senior Vice President of Stream Dallas Bob Hagewood and Ryan Wolcott, a vice president for Stream’s Dallas industrial division, will oversee leasing and management at the property. Thor Equities is open to selling or leasing Building B, which can accommodate one tenant or be subdivided for multiple uses. 

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BV Archway Real Estate Income Fund acquired GEODynamics Inc.’s manufacturing facility at 10400 West Interstate 20 in Millsap. The over 57K SF structure is on a more than 10-acre tract adjacent to the company’s headquarters. 

CONSTRUCTION & DEVELOPMENT

Texas-based workspace innovation company Vari and Adolfson & Peterson construction celebrated the topping out of VariSpace Coppell. The facility, located at 450 North Freeport Parkway, Coppell, will serve as the company’s headquarters and is expected to open this summer. The 180K SF building will include 120K SF for tenants. BOKA Powell designed the core, shell and site. Corgan Architects designed the building's interiors.

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Anthem Development, a Beck Ventures Company, broke ground on Miles One 90, a 398-unit luxury apartment community at the President George Bush Turnpike and Miles Road in Sachse. The $65M project closed last month. Anthem used Nova Capital, a real estate capital advisory firm based in Southern California, to arrange the equity and debt capital. For the development, Anthem has partnered with a multibillion-dollar institutional equity fund. Steven Yazdani, Nova Capital’s founder and managing director, led the transaction. 

FINANCING

Culby Culbertson with Terrydale Capital arranged a $13.2M loan for an undisclosed buyer for the purchase of a multifamily property in Midlothian. The loan was arranged through one of Terrydale Capital’s correspondent bank relationships.

THIS & THAT

Cushman & Wakefield was named as the exclusive leasing agent for three new industrial properties near Dallas-Fort Worth Airport. DFW Commerce Center Buildings 2, 3 and 4 are under construction and should be complete by November. The properties include lease space ranging from 200K SF to 1M SF. Kurt Griffin and Nathan Orbin of Cushman & Wakefield will represent the developer and landlord, CLX Ventures, in leasing the new buildings. The properties are Phase 2 of the existing industrial park. DFW Commerce Center Building 1 was completed in October 2018 and sold in December 2020.