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This Week's Dallas-Fort Worth Deal Sheet

A 20-acre mixed-use development is headed for Corinth.

Parkway District will include 22K SF of retail and restaurants, around 275 apartments, 16 townhomes, a select-service hotel and a central, linear park that will connect the property, according to a news release.

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A rendering of Parkway District in Corinth

DFW-based Realty Capital Management secured a loan from Texas Bank and Trust to finance acquisition of the land. Realty Capital Residential will serve as the developer of the project.

“Parkway District aims to be a hub for activity,” Realty Capital Management Development Partner Austin Gray said in a statement. “The development is designed to give area residents the opportunity to live in and visit a walkable community with public amenities and entertainment options that are not available today.”

Construction is expected to begin this summer.

PEOPLE

RREAF Holdings promoted Graham Sowden to chief investment officer and Tony Perez to vice president of asset management. The company also hired Melanie French and Ron Rushing to lead RREAF Residential as CEO and chief financial officer, respectively. Sowden previously served as director of acquisitions. Perez was the company’s director of asset management. French comes to RREAF from DLP Capital, where she served as president and managing principal of the firm’s real estate management and asset management arm. Rushing previously served as CFO of a multifamily operator with 43,000 units. 

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Tango, a provider of integrated workplace management systems and store life cycle management solutions, hired Sebastian Peluffo as chief financial officer. He will replace outgoing CFO Mark Wise, who plans to retire after 11 years with the company. Peluffo comes to Tango from Symphony Retail AI, where he served as CFO. He has more than 25 years of global accounting and finance experience. 

LEASES

Dickies signed an 84K SF lease at 500 Taylor St. in Downtown Fort Worth after operating a manufacturing facility and adjacent retail store at 509 West Vickery Blvd. for years. The property will serve as the apparel manufacturer’s new world headquarters. SADA Capital Partners, an Illinois-based capital and asset management company, and SADA Tower LLC, a Texas limited liability partnership, purchased 500 Taylor St. and 500 Throckmorton St. in June 2022. Stream Realty Partners Executive Vice President Chris Doggett and Senior Associate Cullen Donohue represented the landlord in the transaction. Stream Vice Chairman Randy Cooper and Vice President Wills Bauer represented the tenant. Mark Dabney of BOKA Powell is leading design on the project’s exterior improvements.

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Lee & Associates DFW brokered the lease of a 106K SF industrial space at Southwest Crossing Logistic Center, 5200 South Freeway, in Fort Worth. Becky Thompson, Reid Bassinger and Trey Fricke of Lee & Associates represented the landlord, Industrial Realty Group. James Ewing of Colliers International DFW and Cam Kucic of Colliers International Indianapolis represented the tenant, Sage Plastics.

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Haynes & Boone expanded its lease at Harwood No. 14 to 149K SF. The law firm originally signed a 125K SF lease for the Class-AA tower, which is under construction and expected to open later this year. The building is part of the 19-block Harwood District in Uptown Dallas.

SALES

The Multifamily Group sold Villas at the Parks, a 103-unit, garden-style apartment community in Arlington. Trey Caldwell represented the seller and Jon Krebbs procured the buyer.

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Avison Young brokered the sale of Allen Office Center, a 115K SF office building located at 805 South Central Expressway in Allen. The two-story property was largely vacant at the time of the sale but will soon become the corporate headquarters for an entity of the buyer, Sol-Ark. Avison Young Senior Vice Presidents Susan Gwin Burks, John Bowles, Bruce Butler and Philip Boren, as well as Clint Madison and Rodney Helm of Cushman & Wakefield, represented the seller, Gladstone Commercial. The buyer, Toruk LLC, was represented by Matt Middendorf of Middendorf Commercial Real Estate.

CONSTRUCTION AND DEVELOPMENT

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City officials joined executives at JPMorgan Chase and The NRP Group on Jan. 26 to break ground on the project.

The NRP Group broke ground on Ascent at Mountain Creek, a 324-unit, mixed-income multifamily project at 4868 South Merrifield Road in Dallas. The property will comprise 14 three-story buildings, and 50% of units will be reserved for individuals and families earning 80% or less of the area median income. Early lease-up of the community is expected to occur in October, with a completion date slated for September 2024.

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Seefried Properties and USAA Real Estate began construction on Rockwall Park 30, a 315K SF, Class-A logistics facility at Interstate 30 and Data Drive in Rockwall. The project is being built spec across two buildings. Construction of the rear-load facilities is expected to be complete by the fourth quarter of this year. The KBC Advisors team of Ann Jaggars, Tony Kreme and Whit Maddox will handle leasing efforts. EE Reed is the general contractor and Pross Design Group is serving as the project's architect. BGE is the civil engineer.

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Developer ALTO Real Estate Investments plans to bring ALTO Intermodal 45 to 901 East Pleasant Run Road in Wilmer. Ben Wallace, Chris Teesdale and Tom Pearson at Colliers are representing ALTO. The project is expected to break ground in the first quarter of this year and should be ready for tenant-specific improvements in the fall. This timeline should allow a company to be fully operational by the end of the year.