This Week's Dallas-Fort Worth Deal Sheet
Stonemont Financial Group sold a 214K SF industrial facility in Fort Worth to Victaulic.
The Class-A industrial facility is on FM 156 adjacent to the Fort Worth Alliance Airport. It will be used by Victaulic for manufacturing and distribution within the Texas market and is the company’s first location in the state, according to a news release.
“This project is a testament to the area’s attractiveness for top-tier businesses looking to establish a footprint in the state,” Stonemont Senior Vice President Josh Wheeler said in a statement. “We felt confident in investing in the Fort Worth market due to its abundant labor supply and premier access to major transportation routes, and our optimism paid off when Victaulic reached out to us.”
Victaulic approached Stonemont several months into construction to purchase the shell, which the company then designed and built out according to its needs. The project was completed at the end of 2022.
Stonemont was represented by Ann Jaggars and Tony Creme of KBC Advisors. Victaulic was represented by Trey Fricke of Lee & Associates.
PEOPLE
Paula Whitman joined the JLL Dallas office as vice president within the healthcare and life sciences division. In her new role, Whitman will serve as an adviser to her clients, focusing on the development and execution of leasing strategies for healthcare real estate in DFW.
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Travis Taylor joined Adolfson & Peterson Construction as regional safety director. Taylor is a certified construction health and safety technician with 13 years of construction safety experience in healthcare, higher education and data centers.
LEASES
G2 Automated Technologies renewed 15K SF of flex space in Park Forest Business Center at 10500 Metric Drive in Dallas. Jason Finch, first vice president of Bradford Commercial Real Estate Services, represented the landlord, Tyler Family Real Estate Investments. Dave Peterson of NAI Robert Lynn represented the tenant.
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Iron Mountain Information Inc. renewed its 58K SF lease at 626 106th St. in Arlington. John Buckley, Jack Gaffney and Nicky Manasso with Finial Group represented the landlord. John Brewer and Riley Maxwell with Transwestern represented the tenant.
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RobotLAB signed a 26.6K SF lease at VariSpace Southlake, located at 1900 West Kirkwood Blvd. Cushman & Wakefield brokered the deal.
SALES
Phillips Edison & Co. acquired Lake Pointe Market, a 40.6K SF, Tom Thumb-anchored neighborhood shopping center at Dalrock Road and Lakeview Parkway in Rowlett. Tenants include H&R Block, Bank of America, Supercuts, OneMain Financial and a variety of local shops.
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ShainRealty Capital purchased a 256-unit apartment community at 2200 North Belt Line Road in Mesquite. The property will undergo $3M in renovations and be rebranded as Infinity on Sunnyvale. Wes Racht of Marcus & Millichap brokered the sale. The existing $25M Department of Housing and Urban Development loan was assumed by the purchaser in the deal.
CONSTRUCTION AND DEVELOPMENT
Texas Woman’s University is preparing to break ground on a $107M health sciences center, a move that will significantly expand the university’s healthcare education, research and services. The center is designed as a hub for community and rural health efforts and will spur collaborative programming among the university’s five colleges.
FINANCING
A wholly owned subsidiary of Chatham Lodging Trust closed on a $24.5M loan secured by the Courtyard Dallas Downtown hotel. The loan carries a 7.6% interest rate, is interest-only and matures in 2028.
