This Week's Dallas-Fort Worth Deal Sheet

Goldman Sachs broke ground on its long-awaited regional campus in Downtown Dallas.

The 800K SF building, planned for the NorthEnd district at 2323 North Field St., will eventually house more than 5,000 employees, according to a news release. The campus will comprise two wings and will sit alongside a 15-acre urban park.

“We have been operating in Dallas for more than 50 years — this state-of-the-art new campus further demonstrates our commitment to Dallas and is testament to the incredible talent and strong client base in the region,” Goldman Sachs President and Chief Operating Officer John Waldron said in a statement. “We look forward to Goldman Sachs’ vibrant future in Dallas and are excited to continue partnering with the local community for many years to come.”

The building owner is Hunt Realty Investments, and the developer of the project is Hillwood Urban. Henning Larsen Architects is leading design. Construction is expected to be complete in late 2027.

PEOPLE

JLL hired Chris Higbie to serve as vice president of healthcare and life sciences on the agency leasing team. Prior to joining JLL, Higbie had four years of healthcare real estate investment sales experience, resulting in $65M worth of closed deals, primarily in Texas. In his new role, Higbie will be responsible for helping owners attract and retain the tenant mix for their properties.

LEASES

Portland, Oregon-based M Financial Group signed a 52K SF lease at The Quad, a 345K SF forthcoming office development at 2699 Howell St. in Dallas. Stream Realty Partners Senior Vice President Ryan Evanich and Vice President Marissa Parkin represented Stream, the owner of The Quad, in the transaction. Cushman & Wakefield’s Dean Collins, Mark Collins and Doug Deurwaarder represented M Financial. The Quad is scheduled to open in March.

***

Planet Fitness leased 20K SF in Vista Ridge Plaza, located at 500 East Round Grove Road in Lewisville. Matthews Real Estate Investment Services Associate Oliver Willman, Associate Baylor Wormon, Senior Associate Grayson Duyck and Senior Associate William Carr represented the landlord in the transaction. The location is expected to open. Jan 1, 2025. 

***

Stream Realty Partners completed the following lease transactions: 

• Sunbelt Material Handling leased 48K SF at Blazing Trail Logistics Center in Fort Worth. Stream’s Brandon Delin and Luke Davis represented the tenant. Gil Stroube with Lincoln Property Co. represented the landlord, Affinius Capital.

• Relogistics Services leased 175K SF at 635 Military Parkway in Mesquite. Stream’s Adam Jones represented the tenant. Brett Lewis with Lee & Associates represented the landlord, Huntington.

• Locomotion Automatic Transmission leased 40K SF at 617 South Fourth Ave. in Mansfield. Stream’s Jeff Rein and Matt Blackburn represented the landlord, Pintail Partners. Metroplex Real Estate represented the tenant.

• CI Health Group renewed its lease and expanded to 12K SF at Vista Point North, 405 State Highway 121 Bypass in Lewisville. Stream’s Nate Hruby and Dan Harris represented the tenant. Andrew Gilbert with Holt Lunsford Commercial represented the landlord.

SALES

Rise48 Equity acquired Heather Ridge Apartments, a 252-unit community in Dallas. The company plans to spend more than $7M renovating the property.

***

Provident Realty Advisors and Trez Capital acquired two development sites in Burleson and San Antonio for future luxury recreational vehicle park developments. Branded as Roaming Trails RV Retreat, the Burleson site will have 196 pads on 22 acres. Construction on both parks is estimated to begin in Q4.

***

Motor Sports acquired a 26K SF industrial space at 2925 Merrell Road in Dallas. Stephen Williamson with Lee & Associates DFW represented the buyer. UPS Supply Chain Solutions was the seller.

***

Longpoint Realty Partners acquired a 50K SF industrial space at 11126 Shady Trail in Dallas. Stephen Williamson of Lee & Associates represented the buyer. Vaquero Ventures Management was the seller.

***

A Dallas private investment group purchased Expo Center, a 28K SF shopping center located at 3801 Lakeview Parkway in Rowlett. CBRE’s Jared Aubrey and Michael Austry represented the seller, Standridge Cos., in the marketing and sale of the property. 

***

High Street Logistics Properties purchased Mansfield Urban Industrial Park, a 267K SF, three-building industrial property in Mansfield. Newmark Capital Markets Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa and Managing Director Zach Riebe represented the seller, Longbow Interests.

CONSTRUCTION AND DEVELOPMENT

The NRP Group and H.I.G. Realty Partners broke ground on Diamond Flats, a 331-unit apartment community at 1402 Carrollton Parkway in Carrollton. Santander Bank provided a construction loan for the project. The first units are on track for delivery in 2025. 

***

Hall Group hosted a ribbon-cutting ceremony for The Monarch Hall Park, a 19-story, 214-unit luxury apartment tower in Frisco. It is the first building to open in Hall Park’s $7B reimagined master plan, which is transforming the site from a singular office community into a live-work-play development. 

***

A multimillion-dollar renovation has started at 5500 Preston Road, a 77K SF office building in Highland Park. The project will include exterior and site improvements as well as interior renovations to the lobby, elevator, restrooms, atrium and common corridors. Built in 1987, the boutique building has been owned by an L&B Realty Advisors advisory client since 1989. Gensler is leading the renovations in collaboration with Garrison Jones Landscape Design. Younger Partners oversees leasing. The project is expected to be complete in January.

***

Wood Partners opened Alta at The Farm, a 325-unit, high-end apartment community in Allen. The development is located within The Farm, a 153-acre mixed-use development that also has a 102K SF, Class-A office building and retail projects underway. 

***

Bright Realty is preparing to open Tapestry at The Realm, a 362-unit, luxury multifamily community in Lewisville’s The Realm at Castle Hills development. Andres Construction Co. is overseeing construction, while design will be led by B2 Architecture & Design. Pre-leasing will begin in November, with units ready to be occupied in December.