This Week's Dallas-Fort Worth Deal Sheet
A 118K SF medical office building in Richardson has traded hands.
Richardson Medical Center I is located at 3101 East President George Bush Highway and is directly adjacent to Methodist Richardson Medical Center.
“Richardson Medical Center I is uniquely positioned to capture the growing demand for medical office space in the market given its strategic location next door to Methodist hospital, high-quality infrastructure, ample parking and space availability,” Newmark Vice Chairman Chris Murphy said in a release.
Murphy represented the seller alongside fellow Vice Chairmen Robert Hill and Gary Carr, Senior Managing Director John Nero and Executive Managing Director Ben Appel, in cooperation with Senior Managing Directors Jay Miele and Michael Greeley.
PEOPLE
MYCON General Contractors named Chief Financial Officer Malynda Dickinson as partner and promoted Ivy Pennington to vice president of operations. With 18 years of financial and executive leadership experience, Dickinson is responsible for the firm’s financial management and accounting functions. Pennington has more than 23 years of experience in talent management and strategic workforce planning and is a strategic adviser to MYCON’s executives.
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Premier promoted Johannes Michalsky to executive vice president. He has served as senior vice president of project management for the past three years.
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VanTrust Real Estate promoted Tyler Chapman to director of development. He will be responsible for discovering and evaluating development and build-to-suit opportunities in the company’s growing Texas markets, which include DFW, El Paso, San Antonio and Austin. Chapman joined VanTrust in 2021 as director of development services.
LEASES
Lee & Associates DFW completed a lease transaction for 20K SF at 5145 Norwood Road in Dallas. Ally Tanghongs of Lee & Associates represented the tenant, Xpress Foods. Stephen Williamson and Matthew Johnson, also of Lee & Associates, represented the landlord, Stonelake Capital Partners.
CONSTRUCTION AND DEVELOPMENT
FlexEtc plans to open a more than 70K SF co-warehousing facility at 1600 West Plano Parkway in Plano. The building will include 76 individual warehouse spaces, eight offices, 14 hot desks and collaborative workspaces. The property is undergoing renovations and is scheduled to open in April.
FINANCING
Newmark arranged joint venture equity financing for the development of 121 Commerce Center, a Class-A industrial project in Grapevine. The 272K SF development is expected to break ground in March. Newmark co-Presidents of Debt and Structured Finance Jordan Roeschlaub and Dustin Stolly, Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa, Managing Director Zach Riebe, Directors Chase Tagen and Eden Abraham and Associate Chloie Mercer arranged the financing on behalf of the sponsor, GTIS Partners.
