This Week's Dallas-Fort Worth Deal Sheet

PDI Technologies renewed its 44.6K SF lease at International Plaza III, a 354K SF office tower in Dallas.

The building, located at 14241 Dallas Parkway, is currently undergoing a major redevelopment that will include a new lobby, a conference center, a fitness studio, a café and hospitality areas. 

The renovations are expected to be completed by the second quarter of this year, according to the property’s website.

“At PDI, we encourage our associates to work where they work best,” Scott Schaper, vice president of program operations at PDI, said in a statement. “When they want to be onsite with an in-person connection for meetings, teambuilding or other needs, having a convenient, contemporary space like that of our Dallas office is a great asset for our organization.”

The lease was arranged by Mike Silliman, senior vice president of leasing with M-M Properties. John Wolf and Brian Cheek with Newmark and John Poulos with SK Commercial Realty represented the tenant.

PEOPLE

Foundry Commercial, a Dallas-based real estate services and investment firm with offices across the Sun Belt, named Alex Perry as senior vice president. He will be focused on land and industrial real estate throughout Texas. Perry was formerly a partner at Swearingen Realty Group. 

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Partners Real Estate named Steve Triolet as senior vice president of research and market forecasting. He joins Partners’ Dallas office from Younger Partners. In his new role, Triolet will champion national research initiatives, representing the firm across all markets in research, thought leadership, market forecasting and industry participation.

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Whitebox Real Estate hired Tyler Tillery to lead its DFW industrial division. As managing director, he will oversee all industrial transactions throughout the Metroplex and help facilitate division growth and strategic direction. Tillery joins Whitebox from NAI Robert Lynn, where he served as vice president of the industrial division.

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The executive board of the Fort Worth Chamber of Commerce formed the Fort Worth Economic Development Partnership, which will lead business recruitment and attraction for the city. The new entity will be helmed by recently appointed president Robert Allen, who will join the organization beginning April 3. Allen is currently president and CEO of the Texas Economic Development Corp. in Austin and has served as the deputy chief of staff to Gov. Greg Abbott. The new entity will be funded by the business community, consisting of both current and new FWC investors. It will be governed by a separate board of directors comprising business and community leaders who are actively engaged in Fort Worth’s economic development. 

LEASES

Stream Realty Partners brokered the following lease transactions.

• Revantage leased 32K SF at The QUAD, a 12-story, Class AA office tower underway at 2699 Howell St. in Dallas. Stream’s Ryan Evanich and Marissa Parkin represented Stream, owner of The QUAD, in the transaction. Jon McNeil, Torrey Littlejohn and Christy Rhea of JLL represented the tenant. 

• Team Car Care renewed its 12K SF lease at Crestview Tower, 105 Decker Court in Las Colinas. Stream’s Tim Terrell and Rhett Miller represented the landlord, CapRidge Partners.

• Jackson Walker expanded its lease to 18K SF at KPMG Plaza, 2323 Ross Ave. in Dallas. Stream’s J.J. Leonard, Parkin and Matt Wieser represented the landlord, Masaveu. CBRE represented the tenant.

• Blue Sky Bank leased 10K SF at The Colonnade, 15301 North Dallas Parkway in Addison. Stream’s Ryan Evanich and J.J. Leonard represented the landlord, Fortis Property Group. Lee & Associates represented the tenant.

• Kidstrong Inc. leased 13K SF at Parkwood Office Center, 3803 Parkwood Blvd. in Frisco. Stream’s Chase Lopez and Ryan Evanich represented the landlord, Orangestar Property Advisors. Austin Schenkel and Evan English with DBA Commercial Real Estate represented the tenant.

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Streamline Packaging Solutions renewed 92K SF of Class A space in Riverpark Business Park at 15124 Grand River Road in Fort Worth. Scott Miller of Bolanz & Miller Realtors represented the company in the renewal.

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Hayes Co. signed a 904K SF lease at Forney Logistics Crossing, a Class A distribution facility located at 11333 County Road 212 in Forney. Nathan Lawrence and Krista Raymond of KBC Advisors represented the owner, GVSW Forney Property Owners, a partnership between Stillwater Capital and Grandview Partners. Greg Nelson of Paladin Partners represented the tenant.

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Pharmacy Corporation of America signed a 21.5K SF lease at 500 East Border St. in Arlington. TXRE Properties’ Cole Moreano and Kolby Dickerson represented the landlord. CBRE’s David Walters represented the tenant.

SALES

Midloch Investment Partners and its joint venture partner WindMass Capital acquired Riverwalk Apartments, a 176-unit multifamily community at 12920 Audelia Road in Richardson. The purchase was financed with a long-term, fixed-rate loan through Freddie Mac.

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Dunleer, a Los Angeles-based private real estate investment and development firm, acquired The Lex, a 144-unit, value-add apartment community located at 9701 West Ferris Branch Blvd. in Dallas. IPA’s Taylor Hill, Drew Kile, Joey Tumminello, Michael Ware and Cameron Purse represented the seller, GVA Real Estate Group, and procured the buyer, Dunleer. IPA Capital Markets’ Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk arranged acquisition financing.

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SPI Advisory sold Canopy at South Lakes, a Class A, 240-unit apartment complex built in 2002 and located at 500 South Interstate 35 E in Denton. Over the past two years of ownership, SPI implemented a number of capital improvements to the property.

CONSTRUCTION AND DEVELOPMENT

Toll Brothers Apartment Living and Pondmoon Capital USA are about to break ground on Mirra, a 285-unit luxury apartment community at Frisco Square, 8320 Church St. in Frisco. The 330K SF development is being financed through a $49.5M construction loan facility from Santander Bank. Mirra is expected to be completed in fall 2024.