This Week's Dallas-Fort Worth Deal Sheet
Kalterra Capital Partners and Rowan Properties have partnered on a second multifamily project in Waxahachie.
The 184-unit Fitzgerald is under construction and expected to be complete in Q2 2023, according to a news release. The property is adjacent to Park Place Apartments, which Kalterra developed and sold to Rowan Properties in May 2021, per the release.
“We are confident in the success and reputation of Kalterra Capital Partners and are excited to be working with them again,” Rowan Properties principal Mike Burch said in a statement. “Waxahachie is a growing, vibrant market with strong demographics and a long-term future, and we expect The Fitzgerald to experience the same level of success as Park Place.”
Rowan Properties purchased The Fitzgerald from Kalterra during the pre-construction phase but retained Kalterra to complete the development and construction of the project. Brownstone Construction Ltd. is a co-developer on the project.
PEOPLE
Gensler named Deeg Snyder as the new co-managing director of the Dallas office. He will join Steven Upchurch, who has served in the role alongside Cindy Simpson for the past five years. Snyder will also continue in his current capacity as studio director and retail practice area leader for the office.
LEASES
Incab America signed a new 40K SF industrial lease at 2821 East Randol Mill Road in Arlington. John Brewer and Riley Maxwell with Transwestern represented the tenant. The landlord is The Arden Group.
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East West Bank extended its office lease and expanded by another 10.5K SF for a total of 24.6K SF at Providence Towers, 5001 Spring Valley Road. Transwestern's Scott Walker, Justin Miller and Kim Brooks represented the landlord, KBS. Norman Lee with Newmark represented the tenant.
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Lockwood, Andrews & Newnam extended a 11K SF lease at The Gild North, 8350 North Central Expressway in Dallas. Marissa Parkin and Matt Wieser with Stream Realty Partners represented the landlord, Fenway Capital. Savills represented the tenant.
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Turbine Engine Specialists leased 35K SF at 600 Railhead Road in Fort Worth. Forrest Cook and Jeff Rein with Stream Realty Partners represented the landlord, Sun Life Assurance Co. Wiens Real Estate represented the tenant.
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Dallas Storage Solutions subleased 30K SF at 301 Vista Ridge Mall Drive in Lewisville. Lena Pierce, Ryan Boozer and Grant Wisenbaker with Stream Realty Partners represented the landlord, Wisenbaker Builder Services. Noah Dodge with Bradford Commercial Real Estate Services represented the tenant.
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SVM Enterprises purchased a 26K SF industrial building at 8400 Sovereign Row in Dallas. Lena Pierce and Ryan Boozer with Stream Realty Partners represented the buyer. Allyson Yost with Colliers International represented the seller, C.F. Brothers Co.
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Hotline Delivery Systems released 122K SF at International Logistics Center, 3711 South 20th Ave., at Dallas-Fort Worth International Airport. Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, CIVF V - TX1M02. Lena Pierce and Ryan Boozer with Stream Realty Partners represented the tenant.
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Mattel Sales leased 124K SF at Westside 35, 2575 Downing Drive in Fort Worth. Forrest Cook, Jeff Rein, Sarah Ozanne and Seth Koschak with Stream Realty Partners represented the landlord, Crow Holdings Industrial. JLL represented the tenant.
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RANDYS Worldwide leased 52K SF at 1002 Avenue T in Grand Prairie. Charles Brewer and Luke Davis with Stream Realty Partners represented the tenant. Steve Koldyke and Kacy Jones represented the landlord, Alpha Industrial.
SALES
RC Land Investors LLC purchased about 87 acres at the northwest quadrant of Interstate 30 and Erby Campbell Road in Royse City. The land is planned for a mixed-use development incorporating both industrial and multifamily. Bryan Haggard Land Group's Josh Bryan facilitated the transaction on behalf of the buyer. Jim Cervine and Randy Bullock of Gateway America Properties represented the seller.
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A Plano-based investment group purchased about 74 acres at the northeast corner of U.S. 75 and Shepherd Road in Sherman across from the Texas Instruments chip manufacturing facility. Bryan Haggard Land Group's Josh Bryan brokered the transaction.
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Gushu TX purchased a 32K SF industrial building at Northgate Business Park, 12051-12091 Forestgate Drive in Dallas. The buyer was represented by eXp Commercial. Adam Jones and James Mantzuranis with Stream Realty Partners represented the seller, CanTex Forestgate.
CONSTRUCTION AND DEVELOPMENT
A Bradford Commercial Real Estate Services-affiliated partnership is undertaking an $8M renovation and amenities expansion of the 263K SF Meadow Park Tower, a Class-A office project adjacent to U.S. 75 in North Dallas. Work is in various stages of implementation and will wrap up in Q1 2023. Bradford MPT Partners acquired Meadow Park Tower nine months ago, having recently relocated its headquarters to the 11th floor. The high-rise also is home to 22 legal firms.
