This Week's Dallas-Fort Worth Deal Sheet
Indianapolis-based real estate development and investment company Scannell Properties has broken ground on 820 Crossing, a 335K SF warehouse in Haltom City.
The development will feature 62 dock doors, two drive-in ramps and a 185-foot truck court. Ninety-five dedicated trailer positions are available, with the ability to add 40 more. The project also offers 201 car parking spaces, according to a news release from Stream Realty Partners, the leasing firm for 820 Crossing.
“We are excited to kick off another Class-A industrial development project in DFW,” said Charles Knowlton, senior development associate at Scannell Properties. “The strong infill location of 820 Crossing will be a great addition to our 2.8M SF currently under construction in the Metroplex.”
Forrest Cook and Sarah Ozanne, Stream’s senior vice presidents, and Jeff Rein, vice president, will oversee leasing. The project is expected to complete in the first quarter of next year.
PEOPLE
Foundry Commercial named Lindsay Wolcott Brown as vice president of office agency leasing in the firm’s Dallas office. Wolcott Brown has more than 16 years of experience and comes to the firm from Avison Young. Wolcott Brown will focus on office assets throughout DFW.
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Stream Realty Partners recruited Bobby Kunkle to lead and grow its occupier services project management and development division. He brings 15 years of industry experience, most recently leading ground-up commercial office developments at Oxford Development Co. in Pittsburgh.
SALES
Colliers facilitated the sale of a 117K SF, seven-story, multitenant office tower at 3939 Belt Line Road in Addison. Cody Payne, senior vice president at Colliers International, arranged the sale between the seller and buyer.
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Lee & Associates Dallas Fort Worth completed a lease transaction for a more than 106K SF industrial building located at 5200 South Freeway, Fort Worth. Reid Bassinger, Trey Fricke and Becky Thompson of Lee & Associates represented the landlord. Brad Balke of Colliers International DFW represented the tenant, Imperial Bag & Paper Co.
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New York-based IG Logistics in partnership with Meadow Partners acquired a 9-acre truck terminal at 2121 East Grauwyler Road in Irving. The property includes a 62-dock door truck terminal and repair shop with five drive-thru bays and office space, totaling more than 40K SF of rentable space. The property is 100% leased to Petro-Chemical Transport, a subsidiary of Kenan Advantage Group. Greg Cannon of Colliers represented the seller.
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ICON Lodging purchased 110 West Seventh St., an 11-story, 101K SF office building in downtown Fort Worth. Transwestern Real Estate Services’ Kirk Kelly and Blake Grable represented the buyer in the transaction.
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Rubenstein Partners LP acquired 5600 Headquarters Drive in Plano. David Rubenstein, founder and senior managing principal of Rubenstein, made the announcement. The 250K SF office building consists of three pods connected by multilevel corridors on a 27-acre site. Campbell Henry and Jake Young of Lincoln Property Co. will act as leasing agents for the property. The building sale was facilitated by Cresa, a tenant advisory firm that exclusively represents space occupiers. In partnership with the previous owner-occupier, Cresa’s Vicki Keenan, Adam Subber, Dan Sullivan, David Stringfield and Brant Bryan led the building’s marketing campaign.
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Walton Global, a real estate investment and land asset management company, acquired 296 acres in Crowley. The property, named Sewell, is planned for residential development by a top national homebuilder.
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American Landmark Apartments acquired Cavalli at Iron Horse Station, a 328-unit apartment community located at 6490 Iron Horse Blvd., North Richland Hills.
LEASES
Stream Realty Partners has executed a 377K SF lease for an undisclosed company at North Quarter 35 on behalf of its client, M2G Ventures. Building 1 at 10717 North Freeway and Building 2 at 2709 Graham Cracker Drive, both in Fort Worth, offer Class-A industrial space in the Alliance submarket. The four buildings on campus feature a total of 645K SF. Stream Executive Managing Director and partner Seth Koschak, Senior Vice President Forrest Cook and Senior Associate Brett Carlton served as the leasing agents for North Quarter 35.
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Lee & Associates DFW negotiated an industrial lease transaction of 125K SF at 2020 McDaniel Drive, Carrollton. Nathan Denton of Lee & Associates DFW represented the tenant, BuzzBallz. Jeff Thornton of Duke Realty Corp. represented the landlord, Texas Dugan Limited Partnership.
CONSTRUCTION AND DEVELOPMENT
Sparrow Partners and Welltower Inc. will open Amberlin at the Station, a 193-unit active adult community at 4615 The Station Blvd. in Sachse. The community will be part of The Station, a $500M mixed-use community developed by PMB Capital Investments. The 6.4-acre community will open this fall.
