This Week's Dallas-Fort Worth Deal Sheet
Dalfen Industrial has broken ground on a 575K SF warehouse park in Frisco.
Frisco Trade Center will feature three buildings and will be located on Rockhill Parkway near the new PGA of America headquarters, according to a news release. Increased demand for goods and services in Collin County — one of the fastest-growing regions in the nation — was behind selection of the site.
“Frisco’s rapid growth and ability to attract both residents and companies to the city have quickly made what was once a pioneering location into an infill destination suburb of the Metroplex,” Dalfen Industrial Market Officer John Lettieri said in a statement. “With limited land left for development, this project will provide the area with the needed warehouse space for the local economy to continue to thrive.”
JLL’s Kurt Griffin, Nathan Orbin and Dalton Knipe are handling leasing on behalf of Dalfen. It is scheduled to complete in the fourth quarter.
PEOPLE
Scott Turner joined JPI as chief visionary officer, a new leadership role focused on the development and execution of a comprehensive strategic vision for the company's growth and expansion. Turner comes to JPI having held senior leadership positions in both the public and private sectors, including serving as executive director of the White House Opportunity and Revitalization Council under Dr. Ben Carson. Prior to that, he served two terms as the elected representative of District 33 in the Texas House of Representatives.
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Lincoln Property Co. named Maria Stamolis as chief investment officer. In her new role, Stamolis will oversee the company’s investment activity across Lincoln’s global portfolio and broaden the company’s relationships and offerings with institutional investors. Stamolis brings more than 30 years of CRE experience to Lincoln, having most recently served at alternative investment firm Canyon Partners.
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CBRE hired Will Haynes II as an executive vice president in the advisory and transaction services group. Haynes will bolster CBRE’s office occupier business, supporting K-12 and higher education, government and corporate clients with their real estate needs throughout the Metroplex. He joins the firm from Colliers, where he served as managing director for office occupier services.
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JLL promoted Brad Selner, Kelley Kackley and Larry Toon to executive managing directors specializing in office tenant representation. Joining them as senior managing directors are office tenant rep brokers Andy Leatherman, Conor McCarthy, Jon McNeil, Bret Hefton and Torrey Littlejohn. T.D. Briggs and Joel Pustmueller were promoted to executive managing directors of office agency leasing, and Trevor Franke and Blake Shipley are now senior managing directors. In the industrial sector, Matt Powers was promoted to executive managing director, and Craig Jones and Tom McCarty advanced to senior managing director.
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Street Realty appointed Amber Calhoun as a vice president in its brokerage services division. She will play a key role within Street Realty’s brokerage production team by guiding clients through the purchase, sale and leasing process; overseeing day-to-day commercial real estate transactions; and helping to optimize and grow the company’s property portfolio.
LEASES
Witherite Law Group has signed a 71.6K SF renewal and expansion, adding 19.6K SF of office space in Meadow Park Tower, 10440 North Central Expressway in Dallas. Jared Laake, vice president of Bradford Commercial Real Estate Services, and Richmond Collinsworth, senior vice president and managing partner, represented the landlord, Bradford MPT Partners. Pat Hanahan and Rick Currey of Fobare Commercial represented the tenant.
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Daikin Applied has renewed 13K SF of industrial space in Las Colinas Distribution Center 5, 3243 Story Road in Irving. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, represented the landlord, Las Colinas AAA Investment. Michael Paine of Cushman & Wakefield of Texas represented the tenant.
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Simon Greenstone Panatier leased 28.4K SF at Bank of America Plaza, located at 901 Main St. in Dallas. Ryan Hoopes, Tom Sutherland and Dean Dahlsten of Cushman & Wakefield represented the tenant in lease negotiations. Russ Johnson and Joel Pustmueller of JLL represented the ownership, Metropolis Investment Holdings.
SALES
Fort Capital acquired Spring Valley Tech Center in Farmers Branch. The portfolio consists of nine Class-B industrial buildings comprising 179K SF. It counts 40 tenants and is 92% occupied.
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S2 Land Development bought 408 acres of land at the southeast corner of FM 1777 and CR 677 in Royse City. The site will soon be home to Clearview Ranch, a 575-acre master-planned community with space for 1,200 single-family homes and retail/commercial property. Carter Kendall with CBRE’s Land Services group in DFW represented the seller. Construction is planned to begin in late summer, and Phase 1 is scheduled to open for sales in the first quarter of 2025.
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Marcus & Millichap sold 5950 Park Vista Circle, a multitenant 27K SF industrial facility located in Fort Worth. Senior associates Davis Cagle and Tyler Ranft had the exclusive listing to market the property on behalf of the seller, a local investment group. The buyer, an investment firm, was also procured by Cagle and Ranft.
