This Week's Dallas-Fort Worth Deal Sheet
Lightbeam Health Solutions is moving its headquarters from Irving to Cypress Waters.
The company, which specializes in population health enablement solutions and services, leased around 33K SF at 2999 Olympus Blvd. in Coppell, according to a news release. The relocation will increase Lightbeam’s DFW footprint by 50%.
“As our clientele expands, it became necessary for us to secure additional space for our growing team,” Lightbeam Chief Financial Officer Jeff Peterson said in a statement. “The new location not only allows us to maintain exceptional service for our current clients, but also provides opportunities for hiring and retaining top talent.”
The company has been located in Irving since 2015. It will maintain its offices in Pennsylvania and St. Louis, per the release.
JLL’s Cribb Altman, Jon McNeil and Harrison Burt represented Lightbeam, and Marijke Lantz Flowers represented the landlord and owner, Billingsley Co.
PEOPLE
Revere Capital hired Will Bohannan as director of capital markets and Kris Boudreau as vice president of originations. Bohannan most recently served as senior vice president of national accounts for Walton Global Holdings. Boudreau was most recently production manager at Sabal Capital Partners in Irvine, California.
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Adolfson & Peterson Construction hired Darian Reams as director of mission critical services. With design and construction management experience spanning more than 20 years, Reams is responsible for overseeing AP’s national portfolio of mission-critical projects, including data centers and other essential facilities.
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Crescent Real Estate LLC promoted Travis Jeakins to senior vice president, and Caleb Bury and Christopher Goff to vice president. Jeakins will join Kevin Crum in leading Crescent’s development activities. Bury will be responsible for regional acquisitions and asset management, as well as deal structuring and joint venture negotiations. Goff is responsible for identifying, underwriting and managing hotel acquisitions and developments across all hospitality product types.
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Suffolk hired Gary Gunter as vice president of pre-construction for the South Central Region, including Dallas-Fort Worth. In his past roles, Gunter provided pre-construction services on more than $2B and 10M SF of construction volume, including the Toyota North American headquarters.
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JLL hired Kurt Griffin and Nathan Orbin as managing directors in the Dallas office, specializing in landlord and tenant representation. They have decades of experience in the commercial real estate industry and have closed more than 17M SF in industrial leases over the last three years.
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Robert Benda assumed the role of CEO at Westwood Contractors. He has served the company in several roles since joining Westwood in 1987, most recently as chairman of the board, a title he will continue to hold.
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After founding and leading Hart Advisors Group for 14 years, Tanya Hart Little has left the firm to join Hart Commercial, a commercial brokerage firm she founded in 2021 with Allison Johnston Frizzo. As managing partner of Hart Commercial, Little leads the strategic planning, operations, franchise and corporate services accounts for the firm, in addition to brokerage assignments. At Hart Advisors Group, she led a team that completed more than $11B worth of commercial loan restructures, assumptions, recapitalizations and loan sales through 2020, when she sold the company to a private investor.
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Dan Avnery is stepping down as president of NAI Robert Lynn’s Dallas retail division, a position he has held since 2013. He will remain a partner in the division while also running his real estate private equity firm, Precision Investments.
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Justin Beck was hired as managing director to run Whitebox Real Estate’s new investment sales team focused on the brokerage of self-storage facilities and recreational vehicle parks. The group will be headquartered in Whitebox’s Fort Worth office. Beck and his team will market properties across the Sun Belt, including Texas, Alabama, Georgia, Florida and Oklahoma.
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IPA Capital Markets, a division of Marcus & Millichap, hired Adam Mengacci as managing director in its Dallas office. Mengacci brings nearly two decades of experience in commercial real estate to the IPA team. In his new role, he will be responsible for originating commercial debt and equity transactions across various property types.
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Merriman Anderson Architects named Jennifer Picquet-Reyes, a principal in the firm, as the director of hospitality-historic/adaptive reuse. In her new role, Picquet-Reyes will continue to lead project teams while driving and expanding MAA’s adaptive reuse and architectural hospitality footprint. She has been with the firm for 12 years.
LEASES
Lucid Private Offices, formerly known as WorkSuites, signed a 31K SF lease at International Business Park, located at 6275 West Plano Parkway in Plano. The company will occupy the fifth floor of the newly constructed Class-A office building. JLL’s Trevor Franke and Gini Rounsaville represented Billingsley Co., the landlord, and Cresa’s John Pelletier and Austin Studebaker represented the tenant, Lucid Private Offices.
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WellMed Medical Management leased 11.6K SF at Valoris Healthpark, a medical office complex at 601 Clara Barton Blvd. in Garland. Austin Barrett, senior vice president of JLL’s healthcare and life sciences team, represented the landlord, Prevarian Cos. MedCore represented the tenant, WellMed.
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Quality Honeycomb leased 60K SF of warehouse space at 624 107th St. in Arlington. Mark Graybill with Lee & Associates represented the landlord, while Scott Voelkel of Dickey Property Co. represented the tenant.
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Home Depot signed a long-term 35.8K SF lease renewal at Cooper Street Plaza, 4601 Cooper St. in Arlington. The shopping center is operated by Hartman Income REIT Management and owned by its affiliate, Silver Star Properties REIT. Hartman’s Brent St. Amant represented the landlord.
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Crystal Technology & Industries Inc. leased 49K SF at McKinney Airport Commerce Center, 1600 South Airport Drive in McKinney. Elaine Xu at Younger Partners represented the tenant.
SALES
Younger Partners brokered the sale of Westridge Center, a 94K SF, three-building office/flex development located at 2000-2020 Westridge Drive in Irving. Younger Partners’ Tom Strohbehn and Scot Farber represented the seller. The property was purchased by Dallas-based CanTex Capital. Both the seller and deal terms were undisclosed.
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SPI Advisory sold The Ventura Apartments, a Class-A, 111-unit, garden-style apartment community in Mesquite. Formerly named Central Park Apartments, SPI Advisory and its syndicated partners rebranded the property upon its acquisition in March 2021.
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SPI Advisory and its 1031 partners sold Wood Meadow Apartments, a 222-unit, Class-B complex located at 6897 Meadow Crest Drive in North Richland Hills. Constructed in 1984 and renovated in 2018, the property was initially acquired by SPI and its partners in 2017. It has since made a series of capital improvements.
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Pam Goodwin with Goodwin Commercial represented the buyer in the sale of a 37.7K SF office building located at 5500 West Plano Parkway in Plano. Jamie Jennings and Ryan Evanich with Stream Realty Partners represented the seller.
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CanTex Capital acquired 51 acres in Irving at 2701 Grauwyler Road. Chase Miller, NAI Robert Lynn principal and executive vice president, represented the buyer in the transaction. The property consists of three buildings totaling 313.6K SF. CanTex Capital partnered with Nicola Wealth Real Estate on the acquisition.
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Rise48 Equity acquired Paces Cove Apartments, a 328-unit multifamily property at 13100 Pandora Drive in Dallas. The firm plans to spend more than $8M renovating exteriors and interiors.
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Peacock Point bought 5500 West Plano Parkway in Plano from Hacienda Care V. Stream Dallas Managing Director Jamie Jennings and Senior Vice President Ryan Evanich represented the seller. Pam Goodwin of Goodwin Advisors represented the buyer.
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Westcore acquired Denton Point I and II, a two-building, 242K SF industrial property in Denton. Westcore purchased the property for about $32M in a joint venture between Boston-based TA Associates and Dallas-based Holt Lunsford. Bryan, Baird and Hare represented the seller, and Westcore represented itself.
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Marcus & Millichap brokered the sale of Haltom City Self Storage, a 39.6K SF self-storage facility at 5020 Haltom Road in Haltom City. Danny Cunningham and Brandon Karr, investment specialists in Marcus & Millichap’s Fort Worth office and leaders of the Karr-Cunningham Storage Team, represented the seller, a DFW-based private investor, in the off-market transaction. The buyer, a Phoenix-based commercial real estate company, was also secured by Cunningham and Karr.
CONSTRUCTION AND DEVELOPMENT
LGE Design Build and developers Creation Equity and Crow Holdings completed construction on Northmark Commerce Center, a 234.5K SF, Class-A logistics development in Haltom City. The project was designed by LGE Design Group.
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Serendipity Labs added a 24K SF coworking location in Plano at One Legacy West, a 14-story office tower at 7950 Legacy Drive. The facility, which will open in March, has 71 private offices and team suites, and will take up the entire fourth floor of the 307.8K SF building.
THIS AND THAT
Property services company MCS acquired commercial facilities services firm Chain Store Maintenance. MCS’ interior commercial facility services platform will be marketed as Chain Store Maintenance - an MCS Company, offering core interior maintenance services. Exterior facility services will continue to be marketed under MCS. The acquisition expands MCS’ overall offerings and enhances its ability to serve residential clients in the mortgage servicing and single-family rental industries.
CORRECTION, FEB. 23, 10:12 A.M. CT: A previous version of this story included erroneous information from a news release misidentifying a tenant rep at Valoris Healthpark. It has been updated.
