This Week's Dallas-Fort Worth Deal Sheet

The soccer version of Topgolf is coming to Dallas. TOCA Social will open its first U.S. location in the Design District in 2023, according to a news release from Weitzman.

“We have worked closely with Ewing Properties and Ed Ewing since 2018 to find the right concept to meet Ed’s vision of a landmark venue that would help take the growing Design District to new heights,” Matthew Rosenfeld, executive vice president and director of brokerage for Weitzman’s DFW office, said in a statement. “After considering and turning down several prospects, we see TOCA Social as a game-changer — no pun intended.”

The business, which will be located at 1313 Riverfront Blvd. in Dallas, offers an interactive soccer and dining experience, according to its website. Former professional soccer player Eddie Lewis opened the first location in London last year. Lewis operates 15 soccer training centers across the U.S., including one in Mansfield, according to the Weitzman release.

Rosenfeld and Joey Keffler with Weitzman represented Ewing Properties in the transaction. David Stukalin and Max Chanon with The Retail Connection represented TOCA Social.

PEOPLE

Newmark promoted Sara E. Payne to Valuation & Advisory senior managing director and market co-leader of Texas and Louisiana. Prior to her promotion, Payne served as senior vice president for the V&A practice.

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Torrey Littlejohn and Bret Hefton were named the new office tenant representation co-leads for JLL Dallas. The two, who have been with JLL since 2005 and 2019, respectively, will provide the overall strategy and vision for the team of office tenant representatives in Dallas.

SALES

T2V Properties sold the first phase of Westridge Park to two out-of-state trusts. The sale includes a 34K SF, three-story spec building in shell condition at 1410 North Westridge Circle in Irving. The seller has 3 acres remaining to develop a second phase. Bradford Commercial Real Estate Services Senior Vice President Erik Blias, Senior Vice President and Managing Partner Richmond Collinsworth and Vice President Jared Laake represented the seller. Stephen Gebren of Gebren Consulting Services acted as the seller’s consultant.

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Southern Land Co. sold Morado Plaza, a high-end, mixed-use community in historic downtown Plano to Jacobson Co. The five-story community includes 183 rental residences and close to 13K SF of restaurant and retail space. Institutional Property Advisors brokers Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Jeffrey Kindorf and Will Balthrope represented SLC and procured the buyer.

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Darrell Hurmis, executive vice president of the Land and Investments Division at Henry S. Miller Brokerage LLC, and Chris Storm of Sable Realty brokered the sale of Henry S. Miller Highway 66 Storage at 1010 Hebron Drive, Garland, to an undisclosed buyer. The sale included a more than 103K SF building and nearly 5 acres. CubeSmart manages the facility. 

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Sendero Cross Capital closed on the purchase of University Executive Offices at the southeast corner of University Drive and Fifth Street in Fort Worth. The acquisition includes two single-floor buildings of about 8K SF each.

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Real estate investment manager Equus Capital Partners acquired a 75-property, 5.4M SF industrial portfolio across seven major distribution markets, including in Dallas. The portfolio predominantly comprises multi-tenant, infill, shallow-bay properties. Equus’ Kyle Turner, Tim Feron, Laura Brestelli, Joe Felici, Scott Miller and Ryan Klancic oversaw the transaction for the firm. Equus’ legal counsel was Howard Grossman at Cozen’ O’Connor, and Eastdil Secured advised on the debt placement.  

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Multifamily real estate firm StoneRiver Co. acquired Magnolia Grove, a 270-unit, garden-style apartment community in Terrell. StoneRiver’s in-house property management division, StoneRiver Property Management, will manage the property.

LEASES
Ascend Distribution LLC leased 11.5K SF of distribution space at 1925-39 North Great Southwest Parkway, Grand Prairie, from TX 1925 N. Great Southwest Pkwy LLC. Jason Finch, first vice president of Bradford Commercial Real Estate Services, represented the tenant. Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the landlord.

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Amorino Gelato opened in the Plaza at Preston Center in Dallas. Frank Bullock and Michael Gresback with Henry S. Miller represented Amorino's owner, German Rodriguez Daza. The gelato shop took over the former Sprinkles Ice Cream location at 8413 Preston Center Plaza, Dallas. 

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Dallas Regional Chamber signed a lease on a more than 25K SF space in Ross Tower in the Dallas Art District. JLL and CBRE brokered the deal. DRC has been in the building since 2012.

CONSTRUCTION AND DEVELOPMENT

JaRyCo and Wood Partners broke ground on Alta at The Farm, a new multifamily community within The Farm in Allen, a 135-acre mixed-use development at the Sam Rayburn Tollway and Alma Drive. The development will include 325 apartments and is scheduled to open in early 2023.

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McKinley Packaging broke ground on a new 500K SF corrugated box plant in Lancaster. The plant is expected to open in November and add 125 jobs. Steve Berger and Ann Huntington with CBRE represented the seller. 

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Octane, an NYC-based lending fintech for recreational purchases, will move into an 80K SF office on March 1. The company, which has spent its last three years in a 2K SF office, grew its Dallas team by nearly 80% last year and is on track to double its size in 2022.

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Cushman & Wakefield and JLL arranged a lease for the new headquarters of Dave & Buster's. The more than 67K SF office is located within the Coppell Commerce Center just north of Interstate 635 in Las Colinas. The company has spent the last 30 years operating in the I-35 corridor in Northwest Dallas. Robbie Baty and Maureen Kelly Cooper of Cushman & Wakefield and Cribb Altman of JLL represented Dave & Buster’s in the lease negotiation. Michael Peinado and Tom Kuhlmann with Lincoln Property Co. represented the landlord, Columbia Texas Lakeshore Industrial LLC.

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Journey Capital and SilverPoint Senior Living opened Phase 1 of Edition at Saginaw. It also broke ground on Phase 2 of the project. The campus is on more than 6 acres at 824 West McLeroy Blvd. in Saginaw. Phase 1 includes 22 independent living cottages. Phase 2 will include 74 assisted living and memory care apartments. The 57K SF second phase is expected to open in fall 2023.

FINANCING

Marcus & Millichap Capital Corp. arranged a nearly $4M loan for the acquisition of Shops at Landmark Quebec, a more than 10K SF multi-tenant retail strip center anchored by PNC Bank and Jason’s Deli at 6500 Northwest Loop 820 in Fort Worth. The financing was exclusively arranged by MMCC Director Duke Dennis.

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Marcus & Millichap Capital Corp. arranged a $1.35M loan for the acquisition of Matlock Center, a more than 10K SF multi-tenant retail strip center. The buyer was Salim Bhaidaini. The financing was exclusively arranged by MMCC Director Duke Dennis.

THIS AND THAT

JLL has been tapped by the city of Fort Worth to market and sell the Fort Worth Central Library, located at 500 West Third St. The property was constructed in 1978 and sits on more than 2 acres in downtown Fort Worth. The city is looking to create a mixed-use development on the land. A library presence will be preserved in the downtown area. JLL Managing Director Todd Burnette and Vice President David Berzina are leading the sales effort on behalf of ownership.

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Dottid, a Dallas-based commercial real estate proptech platform for asset management and leasing transactions, has partnered with Google Cloud Partner Advantage Program, a solution that provides companies with benefits and tools, such as co-branding, marketing campaign platforms, sandbox toolkits, product road maps and sales promotions. The partnership will allow Dottid to gain key insights and analytics as well as automate processes, make predictions and streamline operations.