This Week's Dallas-Fort Worth Deal Sheet
Kelly-Moore Paints is relocating its headquarters from Northern California to Irving after Irving City Council voted to approve $75K in economic incentives for the project.
The company will occupy 15K SF of Class-A office space at 500 East John Carpenter Freeway. Thirty senior executives and other key team members are expected to relocate from California, according to a news release.
The headquarters move follows Kelly-Moore’s relocation of its manufacturing operations to Hurst in 2017.
“The Hurst Manufacturing facility is the engine of our company,” Kelly-Moore CEO Charles Gassenheimer said in a statement. “Locating our corporate headquarters nearby enables even better production and innovation.”
The new HQ will be leased from commercial real estate firm Koa Partners, owner of the building.
PEOPLE
Lincoln Residential named Camilla Harris as its new chief financial officer. She most recently served as chief accounting officer at Digital Realty, where she led a team of 200 employees. She brings more than two decades of finance experience across a broad range of industries.
LEASES
Lee & Associates DFW completed a lease transaction for 14.5K SF of industrial space at Oakridge Business Park, 1209 West Carrier Parkway in Grand Prairie. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, Link Industrial Properties. Jamie White of Jamie White Commercial Real Estate represented the tenant, Team Rubicon.
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V3 Electric leased 10K SF of industrial flex space in Trinity West Park Building A, 2550 114th St. in Grand Prairie, from Owen Trust & CMO Investment Co. Michael W. Spain, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Vice President Jim Ferris represented the landlord. Brooke Ford of SVN Trinity Advisors/Matthews Group represented the tenant.
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Fleetwash signed a 10K SF lease at 10739 Colewood Lane in Dallas. The tenant was represented by Brett Lewis with Lee & Associates. The landlord, Bleecker Partners, was represented by Taylor Stell, also with Lee & Associates.
CONSTRUCTION AND DEVELOPMENT
Property services company MCS and affiliated company SHINEscapes, a Dallas-based commercial landscaping business, completed the extensive interior and exterior construction work refurbishing the Dallas Hope Center, an LGBTQIA+-focused homeless youth transitional living center serving North Texas. MCS and SHINEScapes performed the six-month construction project for DHC in partnership with U.S. Bank as part of its Home Pride initiative. Additional partners Dwell with Dignity and Mercedes-Benz Financial USA also supported the project.
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Bright Realty held a groundbreaking ceremony April 20 for Crown Centre II, a 147K SF, four-story, Class-A office building at 1961 Highway 121 in the Castle Hills community in Lewisville. The $50M investment is primarily funded by Bank7, an Oklahoma banking corporation, and Sterling Private Capital. As the second office building in the development, Crown Centre II will neighbor Crown Centre I, which was delivered in 2020 and is currently 89% leased. Upon completion, the Crown Centre development will include up to 2,000 multifamily units, 3M SF of office space and up to 500 hotel rooms.
