This Week's Dallas-Fort Worth Deal Sheet

Hillwood is adding 500K SF of speculative industrial space to AllianceTexas.

Two 224K SF buildings are under construction along Interstate 35 W, north of Westport Parkway. Speculative tenant improvements will be delivered by early next year, according to a news release.

“There is continued market demand for spaces up to 225K SF, particularly for manufacturers, 3PL’s, and e-commerce companies,” Reid Goetz, senior vice president of Hillwood, said in a statement. “Meeting this market need, Alliance Center East 2 and 3 are the newest and most modern Class-A additions to Hillwood’s AllianceTexas industrial portfolio.

The buildings are being designed by RGA Architects and financed by Inwood Bank. Peloton Land Solutions provided the building’s civil engineering design, and Hillwood Construction Services will serve as general contractor.

PEOPLE

Newmark hired Chris McColpin and Andrew Porteous as senior managing directors, specializing in debt, equity and structured finance services within the firm’s capital markets practice. Based in Austin and Dallas, respectively, McColpin and Porteous will join Director Josh Francis to lead the commercial debt efforts in Texas while working closely with Newmark’s industrial, office and multifamily capital markets professionals. They will report to Ran Holman, executive vice president and Texas market leader.

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Lincoln Property Co. named Christy Ingle as chief marketing and communications officer. In this role, Ingle will be responsible for developing and leading Lincoln’s comprehensive global brand strategy, in addition to its business development, property marketing, media relations and internal communications strategies. Ingle joins Lincoln Property from CBRE.

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MMC Corp.’s Tim Chadwick will retire as the company’s president and CEO in April. Chadwick’s tenure with the commercial construction services firm spans his entire career of more than 30 years. Following his retirement, Chadwick will join the MMC Corp. board of directors as an independent director. The board has named Jason Evelyn, who has been chief operating officer since 2018, as CEO-elect. 

LEASES

Royal Finish Inc. renewed its 11.5K SF lease in Sandhill Business Center at 10725 Sandhill Road in Dallas. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, represented the landlord, OMO Investment Co. Reegan Busby of Colliers International was the tenant representative.

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Stream Realty Partners facilitated the following transactions:

• Able Moving leased 112.8K SF at 3737 Grader St. in Garland. Stream’s Ryan Wolcott and Matt Dornak represented the landlord, Prologis. Tyson Erwin and Stephen Cooper with NAI Robert Lynn represented the tenant.
• AmeriPac renewed its 162.5K SF at 1011 North 28th Ave. in Irving. Stream’s Jeremy Kelly and Sarah Ozanne represented the landlord, Link Logistics. Blake Anderson with Newmark represented the tenant.
• Avantax subleased 52K SF at The Sound at Cypress Waters, 3200 Olympus Blvd. in Dallas, to MCR Investors. Stream’s Wills Bauer, Nate Hruby, Randy Cooper and Craig Wilson represented Avantax as the sublandlord. Billy Gannon and Jordan Wade with Transwestern represented MCR Investors.
• Beaird Harris leased 15.7K SF at Pinnacle Tower, 5005 Lyndon B. Johnson Freeway in Dallas. Stream’s J.J. Leonard, Chase Lopez and Marissa Parkin represented the landlord, New York Life. Lauren Perry with JLL represented the tenant. 
• Hilton Worldwide Inc. renewed 52.8K SF at The Colonnade, 15305 North Dallas Parkway in Dallas. Stream’s Leonard and Ryan Evanich represented the landlord, Fortis Property Group. Paul Whitman with JLL represented the tenant.

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Newmark completed the following DFW leases:

• Kuehne + Nagel Inc. subleased 404.5K SF at DFW International Commerce Park I, 2600 Regent Boulevard in Irving.
• Vector Concepts Inc. extended its lease to 57K SF at Freeport Distribution Center, Building 2, 9010 North Royal Lane in Irving.
• Evan Food Products Co. extended its lease to 32.4K SF at 613 North Great Southwest Parkway in Arlington. It also renewed its 17.4K SF lease at 609 North Great Southwest Parkway in Arlington.
• Wilson Bauhaus Interiors leased 69K SF at Core 35 Logistics Center III, Building A, 2343 Walnut Hill Lane in Dallas.
• Evans Food Group subleased 66.6K SF at Parkway Distribution Center, 701 South Parkway Drive in Grand Prairie.
• Crestron Electronics extended its lease to 56.4K SF at Legacy Tower, 7250 North Dallas Parkway in Plano.
• ACIG Insurance Co. extended its lease to 26.7K SF at Tower 2600, 2600 North Central Expressway in Richardson.
• Raymond L. Goodson Jr. Inc. renewed its 20K SF lease at Coit Central Tower 12001 North Central Expressway in Dallas.
• Countryplace Mortgage leased 15.7K SF at Legacy Tennyson Center I, 5100 Tennyson Parkway in Plano.
• Smith Seckman Reid leased 14K SF at Churchill Tower, 12400 Coit Road in Dallas.
• TAF Intellicenter leased 11.5K SF at Intellicenter Dallas, 3701 Regent Blvd. in Irving.

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National Bankruptcy Services moved from a 75K SF space to a 45K SF space at 14841 North Dallas Parkway in Addison. NAI Robert Lynn President Nick Lee, Chairman Tom Lynn, Executive Vice President Kent Smith and leasing associate Grant Frerichs represented the tenant in the transaction. Sarah Catherine Alford with Vista Holdings served as the landlord’s representative.

SALES

Colliers facilitated the sale of 12600 Willow Springs Road, a three-story, newly renovated office property in Fort Worth. Senior Vice President Cody Payne and Senior Associate Austin Edelmon had the exclusive listing to market the property on behalf of the seller. Both the seller and buyer are private investors represented by Colliers.

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Mumford Co. completed the sale of Tru by Hilton Rockwall Dallas in Rockwall. The 98-room hotel was built in 2020 and sits near Lake Ray Hubbard and the Harbor District, as well as the Buffalo Creek Golf Club, Rockwall Indoor Sports Expo and Texas Presbyterian Hospital. Ryan Patterson and David Mumford represented the seller on the transaction.

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Bleecker Partners acquired 2025 Wall Street, a 27K SF shallow-bay industrial warehouse at 2025 Wall St. in Garland. The tilt-wall construction building will undergo renovations for a single-tenant user. Blake Troiani with Colliers and Sitara Richard with Allie Beth Allman & Associates helped facilitate the transaction.

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Marcus & Millichap facilitated the sale of Affordable Self Storage, a 47K SF self-storage facility in Denton. Danny Cunningham and Brandon Karr, investment specialists in Marcus & Millichap’s Fort Worth office and leaders of the Karr-Cunningham Storage Team, represented the seller, a DFW-based private investor who owned and operated the facility for three decades. The Chicago-based buyer was also secured by Cunningham and Karr.

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Westcore acquired Railhead Business Station in Fort Worth from a global real estate investment management firm for an undisclosed amount. The 520K SF development is located at 401, 500, 600 and 800 Railhead Road and is 100% leased to 11 tenants.

CONSTRUCTION AND DEVELOPMENT

Allen-based developer JaRyCo broke ground on FarmWorks One, a 102K SF, three-story office building at The Farm in Allen, a 135-acre mixed-use project at the southeast corner of Sam Rayburn Tollway and Alma Drive. The office building should be complete by next July. The Newmark team of Nathan Durham, Duane Henley and Natalie Serio is overseeing marketing and leasing. Rogers-O'Brien Construction is the general contractor while Omniplan is the architect.

FINANCING

Newmark arranged the joint venture equity placement for the development of Oak Creek Distribution Center, a 238K SF, Class-A industrial project located at 4851 East Loop 820 in Fort Worth. The project is expected to break ground in August and be completed in the spring.

Newmark Capital Markets Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa and Managing Director Zach Riebe secured the financing from Diamond Realty Investments on behalf of the sponsor, Falcon Commercial Development, a Dallas-based industrial development company.

THIS AND THAT

Tango, a cloud-based real estate and facilities management software provider headquartered in Dallas, acquired New-York based WatchWire, a sustainability and energy management software-as-a-service provider that helps companies reduce emissions and energy expenses. The acquisition comes on the heels of the company’s 2022 acquisitions of workplace reservation platform AgilQuest and mobile-first workplace application billie.

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Dallas-based KDC delivered water bottles to 10 nonprofit organizations serving the city’s most vulnerable residents. The company has distributed more than 250,000 bottles since April as North Texas experiences triple-digit heat. Among the local organizations receiving the reusable water bottles are Dallas 24 Hour Club, Union Gospel Mission in both Dallas and Tarrant counties, OurCalling Dallas, The Human Impact, Men of Nehemiah, The Salvation Army of North Texas, Cornerstone Baptist & Community Center, Austin Street Shelter & Center and Bonton Farms.