This Week's Dallas-Fort Worth Deal Sheet

Stillwater Capital has broken ground on the first multifamily portion of The Link, a 240-acre mixed-use district adjacent to the new Omni PGA Frisco Resort.

The Link will contain 2,700 units at full build-out, as well as 2.4M SF of Class-A office space, retail, restaurants, entertainment venues and hospitality facilities, according to a news release.

“We are already under construction on a 30-acre residential project with townhome and cottage residential elements,” Stillwater Capital co-founder Robert Elliott said in a statement. “This one-of-a-kind project is designed around a pedestrian promenade that connects the district's mixed-use components to PGA Frisco and the broader neighborhood.”

The first phase of apartments is scheduled to be completed in time for the KPMG Women’s PGA Championship in summer 2025.

PEOPLE

Westmount Realty Capital named Kyle Russell as managing director of development. With more than 30 years of experience, he will lead the firm’s new development initiative and further Westmount’s industrial development capacity, the company said. Prior to joining Westmount, Russell was the vice president of development management at Dalfen Industrial.

LEASES

Lee & Associates DFW completed a lease transaction for a 79.7K SF industrial space at 3605 East Plano Parkway in Plano. Brett Lewis of Lee & Associates represented the tenant, LiteOn. George Tanghongs of Lee & Associates represented the landlord, an affiliate of Equus Capital Partners.

Stream Realty Partners completed the following transactions:

• Cummings Electrical renewed 80.4K SF at 3385 Roy Orr Blvd. in Grand Prairie. Stream’s Charles Brewer and Sarah Ozanne represented the tenant. KBC Advisors represented the landlord, TA Realty.

• CFJ Manufacturing renewed its 26K SF at 701 Eight Twenty Blvd. in Fort Worth. Stream’s Forrest Cook and Brewer represented the tenant. Exeter is the landlord.

• FedEx renewed 110.8K SF at 6601 Oak Grove Road in Fort Worth. Stream’s Jeff Rein represented the landlord, DRA Advisors. Fischer & Co. represented the tenant.

• Goodnight Water Solutions renewed 20.8K SF at Premier Place, 5910 North Central Expressway in Dallas. Stream’s Dan Harris represented the tenant. CBRE represented the landlord.

• Marmaxx renewed 10K SF at 8500 Freeport in Las Colinas. Stream’s Tim Terrell represented the landlord. Cushman & Wakefield represented the tenant.

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Cushman & Wakefield arranged six new leases totaling 165K SF at Lincoln Centre, a Class-A office campus located in Dallas. Matt Schendle, Clint Madison and Zach Bean of Cushman & Wakefield represented the landlord, Nuveen Real Estate. The new leases include a 50K SF lease with Chubb Insurance, a 50K SF lease with Invitation Homes, a 20K SF lease with Bridgecrest, a 20K SF lease with Avery Denison, a 15K SF lease with Bridge Tower and a 10K SF lease with Swearingen.

SALES

M2G Ventures sold a three-building, fully leased portfolio totaling more than 445K SF to opportunistic investment firm Mavik Capital Management. The portfolio includes a 104K SF facility at 2895 113th St. in Grand Prairie, a 100K SF facility at 3101 Pinewood Drive in Arlington, and a 241.7K SF facility at 2302 West Marshall Drive in Grand Prairie. An investment sales team that includes Stephen Bailey, Dustin Volz, Dom Espinosa and Zach Riebe — all of whom recently moved from JLL to Newmark — represented the seller.

CONSTRUCTION AND DEVELOPMENT

Granite Properties opened Granite Place II at Southlake Town Square, 601 State St. in Southlake. The Class-A, five-story, 143.5K SF office building is the second phase of the development and 18% leased. N5B Capital, represented by Josh White and Ryan Buchanan of CBRE, has leased 12K SF in the tower for its new headquarters. Granite has also leased 13K SF on the ground floor to another customer. DPR Construction was the general contractor, and the building was designed by Corgan. 

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Corsair Ventures will develop The Stanley at Chisholm Trail, a 350-unit residential multifamily community in Fort Worth. Situated on 22 acres, the luxury apartment homes will be located on the northeast corner of Chisholm Trail Parkway and West Risinger Road. The project is set to break ground in the first quarter of 2024, with leasing expected to begin in the second quarter of 2025.

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Wildcat Management will develop Castle Ranch, a $150M mixed-use project that will bring townhomes, apartments, retail and live/work space to Mansfield. Construction is slated to begin next year.

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Chicago-based Glenstar Properties completed its multimillion-dollar redevelopment of Premier Place, a 20-story, 458K SF Class-A office building at 5910 North Central Expressway in Dallas. The project expanded the lobby, renovated the large conference room and added an indoor-outdoor tenant lounge. The redevelopment began in late 2021 with Wright Heerema Architects serving as project architect, Glenstar as construction manager and Scott & Reid as general contractor.