This Week's Dallas-Fort Worth Deal Sheet

Bank of America’s new Uptown Dallas office tower is officially underway.

The 30-story, 500K SF building at the corner of North Harwood Street and Woodall Rodgers Freeway will eventually house 1,000 Bank of America employees and is scheduled for completion in the first half of 2027.

“This will give us the opportunity to take many of our teammates under one roof, which will better serve our clients,” Bank of America Dallas President Jennifer Chandler said at a Nov. 9 groundbreaking event. “Just look at where we are — the walkability, the culture, the excitement of Klyde Warren Park is right outside our doorstep.”

The building is being designed by Kohn Pedersen Fox. The bank will take up about half of the tower, according to The Dallas Morning News.

PEOPLE

Premier hired Aimee Sanborn as senior vice president of adaptive reuse and mixed-use. The move supports Premier’s commitment to supporting developers and existing building owners with the redevelopment of underperforming assets. Before joining Premier, Sanborn served as a principal architect of Powers Brown Architecture.

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Savills added Harrison Burt as corporate managing director in the Dallas office. Burt brings more than a decade of experience to the firm, where he will specialize in providing real estate strategy for office occupiers. He comes to the firm from JLL, where he served as senior vice president. 

LEASES

Network Wireless Solutions renewed a 130K SF full-building lease at 2040 McKenzie Drive in Carrollton. Joe Santaularia, senior vice president and managing partner of Bradford Commercial Real Estate Services, represented the tenant. Sara Ozanne and Mac Hall of Stream Realty Partners represented the landlord, BREIT Industrial Canyon.

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Newmark facilitated the following leases.

• Neveon USA signed a 50K SF office lease at 7617 Pebble Drive in Fort Worth. Newmark’s Frank Puskarich and Louis Pascuzzi represented the tenant. Holt Lunsford Commercial represented the landlord, Riverbend Business Park.

• Fay Servicing signed a 48K SF office lease at Browning Place I in Farmers Branch. Newmark’s Duane Henley represented the landlord, TCI Park West I. Cresa represented the tenant. 

• KDL Medical renewed an 18K SF lease at Collins Center, 885 East Collins Blvd. in Richardson. Newmark’s Sara Fredericks, John Shaunfield and Kyle Jett represented the tenant. Stream Realty Partners represented the landlord.

• Oscar W. Larson Co. leased about 17K SF at Intellicenter, 3701 Regent Blvd. in Irving. Newmark’s Hensley, Natham Durham and Natalie Serio represented the landlord, TAF Intellicenter. Mohr Partners represented the tenant.

• Vorwek/Thermomix USA leased 11K SF at One McKinney Plaza, 3232 McKinney Ave. in Dallas. Newmark’s John Wolf, Aliya Coher, David Kluth, Josef Farrar and Mai Hu represented the tenant. Gaedeke Holdings XII represented the landlord. 

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Compass leased a 14K SF office space at HALL Park, 2595 North Dallas Parkway in Frisco. The move will allow the company to expand its North Texas footprint. The brokerage firm plans to move into its new office next spring. 

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Sentry Insurance leased 11K SF at Apex at Legacy, a Class-AA office tower in Plano. JLL’s Gini Rounsaville, Michael Williams and John Brownlee represented the landlord. JLL's Neil Ross, Conor McCarthy and Pat Madsen represented the tenant.

SALES

Vision Commercial Capital Group acquired Pecan Creek Medical Park, a 3-acre tract at 731 Zena Rucker Road in Southlake. Director of Investment Sales David Spina represented the seller, and founder Roger Smeltzer Jr. represented the buyer. The company plans to break ground before the end of this year on the two-building, 22K SF medical condo project, which should be complete by next summer.  

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Lee & Associates DFW completed a sale transaction for a 218K SF industrial building at DFW Point35 - Building 2, 12901 Harmon Road in Fort Worth. Lee & Associates’ Becky Thompson represented the seller. John Paul Floyd and Blaine Kelley of CBRE represented the buyer.

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Adair Fant and Nicholas Robinson of Henry S. Miller’s industrial team represented Sees Inc. in its purchase of 205 Sharon St. in Irving. The site includes a 20K SF warehouse.

CONSTRUCTION AND DEVELOPMENT

Weitzman and The Kroger Co. broke ground on Bonds Ranch Marketplace, a community retail center located at the northeast corner of U.S. 287 and Bonds Ranch Road in Northwest Fort Worth. The center, planned for completion in the fourth quarter of 2024, will be anchored by a 128K SF Kroger Marketplace along with a Kroger fuel station. The center will also include 34K SF of small shops and freestanding retail space. Irving-based Ridgemont Commercial Construction is the general contractor.

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Empire Group of Companies closed its $72.8M loan and began construction on Village at Golden Triangle, a 317-unit build-to-rent development in Fort Worth. The loan was arranged by Tower Capital. The general contractor is Plano-based BBL Building Co., and the project is anticipated to take two years to complete.  

FINANCING

JLL Capital Markets arranged financing for Rockwall Distribution Center, a 301K SF facility in Rockwall. The debt advisory team — led by Senior Managing Directors Aldon Cole and John Rose, Director Will Mogk and Associate Brad Vansant — represented the borrower, Westcore, in securing a loan from a private investment manager.

Dallas-based private equity firm Stonelake Capital Partners closed its seventh opportunistic real estate fund, Stonelake Opportunity Partners VII. The firm exceeded its $700M target fundraise, closing at its hard cap with $746M in total equity commitments. Similar to its previous funds, Stonelake VII will focus on logistics acquisitions and developments throughout 11 Sun Belt markets. Boston-based Goodwin Procter served as Stonelake’s fund formation counsel. The subscription-secured credit facility to Stonelake VII was led by Bank of America. Fundraising efforts were led by the investor coverage team, including Ben Harper, Claire Wiggins, Cal Spangler and John Bryant.

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Marcus & Millichap Capital Corp. arranged $12.8M in preferred equity and agency financing for the acquisition of Polk Villas, a 165-unit multifamily community in Dallas. MMCC worked on behalf of the borrower, a partnership led by Henley Properties, to secure the financing. The capital markets team was led by Associate Director Tyler Rentfro and analysts Travis Headapohl and Diego Garcia.

THIS AND THAT

Compatriot Capital acquired an equity interest in Dallas-based development company Jackson-Shaw. The move complements Compatriot’s business plan of focusing on entity-level investments in real estate operating companies.