This Week's Dallas-Fort Worth Deal Sheet

Multifamily housing developer ZOM Living opened its newest luxury multifamily project, Mezzo Dallas, in Aubrey.

The complex spans 15 acres and comprises 378 garden-style apartments. The project represents the company’s seventh multifamily delivery in the Dallas metro area and its 12th project statewide.

ZOM Senior Vice President Jason Haun pointed to the region’s steady population and employment growth as the reason behind the company’s investment in the area.

“Mezzo Dallas is a continuation of ZOM Living’s plans to expand and deliver condo-style living at an accessible rental rate in burgeoning communities,” Haun said in a statement. “The garden-style residential community we are now delivering offers a new standard of living for young professionals and families seeking luxury rentals in suburban Dallas.”

ZRS Management is providing leasing and property management services at Mezzo Dallas, per the release. Construction financing was provided by Synovus Bank. Stanford Construction provided general contractor services, and JHP Architecture served as the project’s architect.

SALES

CenterSquare Investment Management, on behalf of a public pension fund client, has purchased Arbor Crossing, a more than 19K SF neighborhood retail center located at 5810 Long Prairie Road, Flower Mound. Arbor Crossing was developed and managed by Scott Remphrey with Brytar Cos. The seller was a Dallas-based LLC. Remphrey and Michelle Caplan and Matthew Rosenfeld of Weitzman handled negotiations for the seller. Rob Holuba, Patrick Camporini, Victoria Taylor Madrid and Justin Okumus with CenterSquare Investment Management handled negotiations for the purchaser.

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Dallas-based BBG, an independent commercial real estate due diligence firm, expanded its litigation support, expert witness testimony and real estate appraisal services with the acquisition of J. Philip Cook & Associates, a Salt Lake City-based commercial real estate services firm. Terms of the transaction were not disclosed. Phil Cook, the firm’s founder, was named as a managing director of BBG’s Salt Lake City office. Corey Cook, Nate Herrscher and Spencer Cook were named as directors.

CONSTRUCTION AND DEVELOPMENT

Robinson Weeks Partners plans to build a new speculative distribution facility at 4501 Cleveland Road in Dallas. The more than 410K SF, Class-A development known as I-20 Dallas Crossing is slated for completion in the fourth quarter of this year. Robinson Weeks has selected Randy Touchstone and Elizabeth Jones with JLL to market the project. 

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Harrison, Walker & Harper LLC, a construction and industrial services company, in conjunction with architecture and engineering firm Parkhill, completed the Melissa Championship Center, a $21.3M, 134K SF practice facility on the Melissa ISD high school campus. The center, which is the largest of its kind in Texas, includes a more than 5K SF Texas Health Resources rehabilitation clinic. 

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Zobele USA Inc. and the city of Garland have partnered on a $30M expansion project at the company’s manufacturing facility at 3502 Regency Crest Drive. The company produces laundry and fabric care products in Garland and represents one of the city’s target cluster industries: plastic and chemical production. The first phase of the $30M project began in summer 2021. This initial $9M investment includes a 76K SF real estate expansion in addition to the current 165K SF leased building. The second phase, set to begin in 2022, adds two new production lines and one new packing line. About $18M will be invested in new machinery and equipment, and production capacity is expected to double. Zobele opened in Garland in 2018. 

THIS AND THAT

Fort Worth-based Paslay Group, an airport development management firm, will expand with the addition of three independent companies: Executive Program Management, Development, and Advisory Services. Executive Program Management, led by President Paul Blue, specializes in helping owners plan and manage large and complex multibillion-dollar airport capital development programs. Development, led by President John Terrell, focuses on master land use planning and strategic commercial development projects for airports, municipalities and private enterprises as both a consultant and developer. President Margaret McKeough leads Advisory Services, which focuses on providing airport executives with enterprise-level business strategy consulting to optimize financial results and improve business performance for long-term airport success.