This Week's Dallas-Fort Worth Deal Sheet

Southwire is bringing a 1.2M SF customer service center to AllianceTexas.

The facility will streamline Southwire’s entire operations to the Southwest and Midwest, per a news release. It is expected to house 250 team members.

“This CSC will take Southwire’s customer service to a new level,” Chief Operating Officer Norman Adkins said in a statement. “A modern, automated facility in the center of the United States will provide world-class fill rates and on-time, in-full deliveries for our customers. We look forward to the growth opportunities that this facility will bring to our company.”

The property is under construction at Hillwood’s Alliance Westport 25, 14800 Blue Mound Road in Fort Worth, and is expected to be complete by the second quarter of 2024.

PEOPLE

MYCON General Contractors promoted Jason Meuth, a retail specialist, to vice president. He previously served as project director.

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Lincoln Property Co. appointed Alison Daubert as chief strategy and M&A officer. Se will help drive the company’s growth strategy through mergers and acquisitions, the first of which was the acquisition of RiverRock Real Estate Group, which doubled the size of LPC’s portfolio in the western U.S. In addition to the M&A department, Daubert will lead strategic initiatives that support the company’s growth. She comes to the company from Baker Tilly, where as a partner she oversaw buy-side, sell-side and carve-out engagements for private equity and corporate clients.

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Eurico Francisco joined the Dallas studio of Perkins & Will as a design principal. 

LEASES

Colt Facility Maintenance leased 18.4K SF of flex space in Westwood Business Park, located at 1801 Royal Lane in Farmers Branch. Jason Finch, first vice president of Bradford Commercial Real Estate Services, represented the landlord, PRE Westwood, in the direct deal.

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Aeolus International Pet Product leased 13K SF of warehouse space in Las Colinas Distribution Center 5, located at 3249 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. Randy Blankenship of Biel Partners represented the tenant.

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Flix Brewhouse signed a 15-year lease with The Shops at Broad in Mansfield for a nearly 40K SF facility. Originally slated for 2020, the nine-auditorium theater's opening was delayed by the pandemic and is now scheduled for the fall. As co-asset managers of the property, Sam Kartalis with Younger Partners and John Weber with Weber & Co. negotiated the lease for The Shops at Broad. 

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Blank Rome has assembled a team of attorneys for its new office at The Crescent in Uptown Dallas. Several new partners will join the firm’s corporate, M&A and securities group, including Christopher McNeill and co-chairs Steven Block and Jason Luter. Mark Harris and Michael Thimming will join the firm’s finance group, and Justin Mapes is joining the firm’s real estate group. The team is in a transitional space but aims to be in its permanent 15K SF office at The Crescent toward the end of the year. 

SALES

VanTrust Real Estate purchased 60.4 net acres for two future speculative industrial buildings near Highway 80 and Spur 557 in Terrell. Building 1 will be a 196.6K SF building with a rear-load facility, and Building 2 is slated to be a 505.4K SF cross-dock facility. Demian Salmon of Stream Realty Partners represented the seller.

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Eagle Tree Partners acquired a 48K SF showroom/warehouse facility at 4880 Alpha Road in Farmers Branch. Nathan Denton of Lee & Associates represented the seller, and DJ Draper and Chad Albert of Stoic Real Estate Partners represented the purchaser. 

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Black Swan Holdings acquired a four-property industrial portfolio in Addison. The off-market deal involved 2385, 2387 and 2389 Midway Road and 3215 Kellway Drive. The transaction was facilitated by DJ Draper and Chad Albert of Stoic Real Estate Partners. 

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West Shore acquired The Livano at Bluewood at 2600 Kinship Parkway in Celina. The property has been renamed and will now operate as Atlas Bluewood Apartments. 

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Lion Real Estate Group acquired The Surround Apartments in Irving from Nitya Capital. The transaction was made as part of LREG Multifamily Fund III, a $300M discretionary private equity fund. The property will be rebranded as The Stella, with capital improvements and renovations scheduled to begin immediately.

CONSTRUCTION AND DEVELOPMENT

JPI broke ground on the first phase of Jefferson Loyd Park, a Class-A development that will bring 450 rental homes to Highway 360 between Debbie Lane and Broad Street in Grand Prairie. Partners on the project include the lender, Happy State Bank; the architect, Demarest; and the civil engineer, Kimley-Horn. The first group of renters is expected to be able to move into Phase 1 of Jefferson Loyd Park in January 2025. Phase 2 of the project will feature 352 additional homes and is set to begin construction in late 2023.

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CoreWeave will open a $1.6B data center facility in Plano. The 450K SF facility will be CoreWeave’s first in Texas and is expected to be fully operational by the end of this year. 

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ZOM Living completed Hazel by the Galleria, a 398-unit luxury rental community in the Galleria neighborhood in North Dallas. It features a dedicated 3K SF coworking space that includes private offices, conference rooms and a coffee bar. The property is nearly 80% leased. 

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JPI completed construction on the following communities:

• Parmore Arcadia Trail, a 200-home, 8.5-acre development at 1501 Mercury Road in Balch Springs. The project is the first affordable senior living community delivered for residents of the community in more than 10 years. 

• Jefferson Texas Plaza II, a 325-home, 11-acre apartment project at 600 Las Colinas Blvd. in Irving.

• Jefferson Grove, a 424-apartment home community at 16220 Phoebe Road in Frisco. The community is part of a larger, master-planned development that encompasses residential, commercial and retail offerings.