This Week's Dallas-Fort Worth Deal Sheet
ExteNet Systems is moving its headquarters from Illinois to Frisco.
The 5G and fiber infrastructure provider leased 37K SF at The Offices Three at Frisco Station, located at the Dallas North Tollway and Warren Parkway. This is the second lease in the 210K SF, Class-A speculative building, which opened last spring.
“By tapping into Frisco Station’s unique connectivity to major thoroughfares and expansive walkability to retail and restaurants, ExteNet Systems will be able to capitalize on the North Platinum Corridor that is exploding with new infrastructure investment,” Chris McCluskey, vice president of development at Frisco Station developer VanTrust Real Estate, said in a statement.
ExteNet chose Frisco due to its proximity to major clients and industry partners, according to a news release. The HQ will house about 150 employees focused on deploying and managing 5G and fiber infrastructure for sports, entertainment and hospitality venues as well as large enterprises, colleges, healthcare facilities and municipal governments, per the release.
“ExteNet is a great addition to Frisco's booming tech and innovation economy,” Mayor Jeff Cheney said in a statement. “Our residents will benefit from this growth with the creation of 110 new jobs in Frisco."
Clint Madison, John Fancher and Cynthia Cowen of Cushman & Wakefield represented the landlord, VanTrust Real Estate. ExteNet was represented by Todd Schaefer, Robert Blount and Scott Hage of JLL.
The move is expected to be complete by the first quarter of next year.
PEOPLE
CBRE promoted Teri Garcia to managing director of property management in Dallas-Fort Worth. Garcia was previously a director with CBRE Property Management. She now assumes overall leadership for all property management business and is responsible for leading the DFW team.
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Thomas Hooke has been hired as director of multifamily for SSCP Management. Hooke will oversee and grow the company’s multifamily portfolio throughout the DFW market.
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Practice Transitions Group named Lauren Wheeler as a sell-side healthcare mergers and acquisitions adviser. Wheeler has 16 years of middle-market commercial banking experience. Before joining PTG, an M&A firm focused on the healthcare industry, she served as senior vice president of BTH Bank. Wheeler is Dallas-based and is helping the firm launch its Dallas office, which is under construction.
LEASES
Megatel Homes expanded its headquarters in Rosewood Court by 11.5K SF. The more than 426K SF, Class-A office building at 2101 Cedar Springs in Uptown Dallas is now 99% leased, with nearly 30K SF of leases completed since the start of 2022. Transwestern Real Estate Services’ Scott Walker, Kim Brooks and Laney Underwood Delin represented Rosewood Property Co. in the Megatel transaction.
SALES
SSCP Management closed on Casa Grande Apartments, a 20-unit multifamily property at 2500 University Drive, Fort Worth. The development will be rebranded as The Sasha at University and will complement SSCP’s other Fort Worth apartment property, The Sasha at Jennings. The buyer paid all cash at closing.
FINANCING
Resia closed on construction financing for a 322-unit apartment community at 3130 Heritage Trail, Denton. Regions Bank provided the construction financing. The project broke ground in the first quarter of 2022 and is expected to be delivered in the second quarter of 2023.
