This Week's Dallas-Fort Worth Deal Sheet
Crews have officially wrapped up construction on the long-awaited PGA of America headquarters in Frisco.
The 106K SF-plus, $33.5M PGA Frisco will house 150 employees of PGA Professional, according to a news release. The facility, designed by Adolfson & Peterson Construction, includes driving range simulators and interior hitting bays with walls that open to the driving range.
“PGA Frisco will deliver the best in coaching, player engagement, golf operations and executive management, as well as host some of golf's greatest championships,” PGA President Jim Richerson said in a statement. “It will enable our members to help golfers enjoy the game more now and in the future.”
The HQ is located on the 660-acre PGA Frisco campus, which includes two new 18-hole championship courses, a 510-room Omni Resort, a 30-acre practice facility and more. It is expected to generate more than $2B in economic impact to stakeholders and the community over the next 20 years, according to the release.
“Beyond growing the game of golf in North Texas, this world-class project provides an introduction for local businesses to a whole new customer base,” said Granger Hassmann, vice president of preconstruction and estimating for Adolfson & Peterson. “This project is tribute to the future of golf and a boon for Frisco and the entire DFW Metroplex as we welcome new visitors to the region.”
PEOPLE
Lee & Associates Dallas Fort Worth promoted Phil Rosenfeld from director to principal. He has been with the firm for seven years, focusing on tenant representation, sales and acquisitions, and consulting for industrial buildings.
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Joey Keffler was promoted to senior vice president with the DFW office of Weitzman. Keffler handles retail project leasing, retail tenant representation and general retail brokerage in the DFW area.
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Southern Land Co. hired three new directors of acquisition: Clay Cauble, Tanner Johnson and Jay Sunden. Cauble, Johnson and Sunden will source multifamily and mixed-use real estate development opportunities in key growth regions across the U.S., including the company’s Southeast, Texas and Mountain regions.
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John Carl III has joined BH Properties as senior managing director to head the firm’s value-add acquisitions platform out of its Dallas office. With more than two decades of principal-based real estate investment experience across multiple product types and markets, Carl will be responsible for leading and expanding the company’s existing acquisitions team and growing the firm’s real estate portfolio.
LEASES
Softtek Integration Systems leased 10K SF at The Colonnade, 15303 North Dallas Parkway in Addison. J.J. Leonard and Ryan Evanich with Stream Realty Partners represented the landlord, FPG Colonnade. Campbell Puckett with CBRE represented the tenant.
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Hotline Delivery Systems leased 262K SF at Northport 35 Business Center, 4250 Dale Earnhardt Way in Northlake. Lena Pierce and Ryan Boozer with Stream Realty Partners represented the tenant. Cresa Global represented the landlord, Wesco Aircraft Hardware.
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The Lawless Group leased 29K SF at Dallas Corporate Center, 11625 Columbia Center Drive in Dallas. Lena Pierce and Ryan Boozer with Stream Realty Partners represented the tenant. Mitch Pruitt represented the landlord, Liberty Venture I Holdings.
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Texas Corrugated Box & Packaging 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. NAI Robert Lynn represented the tenant.
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Suddath Global Logistics re-leased 51K SF at 1905 110th St. in Grand Prairie. Luke Davis and Matt Dornak with Stream Realty Partners represented the landlord, Westcore. Brian Gilchrist and Steve Koldyke with CBRE represented the tenant.
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Shoppa’s Material Handling leased 24K SF at Dallas Communications Complex, 350 East Royal Lane in Irving. Dan Harris, Forrest Cook and Nate Hruby with Stream Realty Partners represented the tenant. Colliers International represented the landlord, Monkedia.
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Teachers Insurance & Annuity Association of America extended 86K SF at Lakeside Office Center I, 2850 Lake Vista Drive in Lewisville. Chase Lopez and Ryan Evanich with Stream Realty Partners represented the landlord, SDI-Lakeside. Fischer & Co. represented the tenant.
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BSI Financial Services signed a 31K SF lease at 4200 Regent, a nearly 170K SF office complex in Irving. Transwestern’s Kim Brooks and Chris Lipscomb led leasing efforts alongside Property Income Advisors, the asset manager for the property. Curt Linn with Avison Young represented BSI.
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Lee & Associates DFW negotiated an industrial lease transaction of 33K SF at 921 West Bethel Road in Coppell. Ken Wesson and Mark Graybill of Lee & Associates represented the landlord, Nuveen Real Estate.
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Insight Direct leased 249.5K SF of warehouse/storage space at 5700 Campus Drive in Fort Worth from Nuveen. Allen Gump, Allyson Yost, Phil Breidenbach and Kathy Foster with Colliers represented the tenant. Jeff Rein, Seth Koschak and Luke Davis with Stream Realty represented the landlord.
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Citadel Partners represented Weaver in a 36K SF lease at One West 7th, located at 2821 West Seventh St. in Fort Worth. Weaver was represented by Citadel Partners’ Managing Director Scott Morse, Managing Partner Scott Jessen, Fort Worth Market Principal Andy Goldston, Fort Worth Market Associate Advisor Daniel Mullen and Adviser Katherine Jessen. Matt Carthey and Jake Neal with Holt Lunsford Commercial represented the landlord, Macfarlan Capital Partners.
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OfficeMax has signed a long-term, 21.5K SF lease renewal at 4601 Cooper St. in Arlington. Beginning in August, the store will renew its lease in the Arlington Cooper Street Plaza retail shopping center, operated by Hartman Income REIT Management Inc. In the leasing transaction, Claudia Hutchinson with Realty Ventures represented OfficeMax and Richard Maloof represented Hartman, the landlord.
SALES
Greysteel arranged the sale of Meadows at Ferguson, a 264-unit multifamily property located at 11760 Ferguson Road in Dallas. Senior Managing Director Doug Banerjee, Senior Director Jack Stone and Director Andrew Mueller, all based in the company’s DFW office, negotiated the transaction on behalf of the seller and also secured the buyer in the transaction.
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Cottonwood Group acquired a 480-unit multifamily portfolio in Fort Worth with Dallas-based Texsun Holdings. It consists of the Woodstone Apartments, located at 6051 Bridge St., and Bridge Hollow Apartments, located at 5801 Bridge St. The business plan includes a renovation and repositioning of the roughly 342K SF portfolio, for which Cottonwood and Texsun have budgeted approximately $5M.
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Lee & Associates DFW negotiated an industrial lease transaction of 38K SF at 9755 Clifford Drive in Dallas. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Link Industrial Properties-Dallas.
CONSTRUCTION AND DEVELOPMENT
Dallas-based Prevarian Cos. is behind the development of Voyages Behavioral Health of Dallas, a behavioral health hospital at 3320 Live Oak St. in Dallas. Once open, the facility will feature 72 patient beds with specialized programs. Offerings will include services for medically complex patients aged 18 years and older, as well as geriatric and adolescent care. Guide Architecture’s Dallas office is designing the hospital.
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Thompson Realty Capital in partnership with Trez Capital is developing a 50-acre mixed-use project at the southeast corner of FM 2499 and Lakeside Village Parkway in Flower Mound. The first phase includes a four-story, 200-unit multifamily community, 15K SF of retail and a 60K SF office building. This project is a part of Trez Capital’s joint venture partnership program, which provides developers equity financing for value-add and ground-up developments in key markets. The property is scheduled to break ground in fall 2022 with Phase 1 completion slated for early 2024.
