This Week's Dallas-Fort Worth Deal Sheet
Walton Global bought 141 acres for a future residential subdivision north of Fort Worth.
The development will be part of the North Star, a master-planned community in Rhome that is in Phase 3 of build-out and features 1,500 homes, according to a news release.
The acquisition was financed through the firm’s Builder Land Financing program, a fund managed by affiliates of Fortress Investment Group.
“We’re grateful for our partnership with Fortress to bring this to life for our investors and home builders,” Walton Global CEO Bill Doherty said in a release. “With Dallas-Fort Worth being one of the country’s fastest growing metropolitan areas, we continue to look for ways to support regional expansion.”
PEOPLE
David Wetherington joined Cresa as principal and will be based in the Dallas office. He most recently served as an executive vice president at Colliers and has arranged more than 6M SF of lease and purchase acquisitions over his career.
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Gensler promoted Alejandro Guerrero, Joshua Metzger and Justin Bashaw to principal. All three positions are based in the Dallas office.
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Dallas-based Landsea Homes Corp. added Kelly Rentzel as general counsel. She joins the firm from financial services company First Foundation Inc.
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Balfour Beatty hired Kellie Ajjan as senior vice president of human resources for its buildings, civil and investments operations in the U.S. She previously served as senior vice president in the Dallas-based company’s investments business.
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Mycon General Contractors welcomed Remington May as director of marketing. In this role, May will oversee marketing efforts for Mycon’s four offices and collaborate with its executive team.
LEASES
Ram Surgical Supplies leased 12K SF of office/warehouse space in Falcon Centre, located at 1707 Falcon Drive in DeSoto. Brian Pafford and Michael Spain, executive vice presidents and managing partners of Bradford Commercial Real Estate Services, represented the landlord, OMO Bros Enterprises. Sarah Mitchell of Mote & Associates represented the tenant.
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Cantoni renewed 139K SF at 4248 and 4252 Simonton Road in Farmers Branch. Roy Greenberg of Momentum Commercial Realty represented the tenant. D.J. Draper and Chad Albert of Stoic Real Estate Partners represented the landlord.
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Taylor Team Relocation leased 50K SF of office/warehouse space in Marsh Business Park West, located at 2727 Realty Road in Dallas. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, represented the landlord, GKI Industrial Dallas. Hudson Sheets and Andrew Gilbert of Holt Lunsford Commercial represented the tenant.
SALES
Lee & Associates DFW facilitated an industrial land sale for 10 acres at 2974 E. University Drive in McKinney. Alex Wilson, Jarrett Huge and Brett Lewis of Lee & Associates represented the seller, Lamar Property Exchange.
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Texas Auto Value acquired a 20K SF facility at 15209 and 15215 Addison Road in Addison, as well as the adjacent 2 acres at 15233 Addison Road. Jonathan Cooper and Noah Williams of Davidson Bogel represented the seller. D.J. Draper and Chad Albert of Stoic Real Estate Partners represented the buyer.
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Walton Global sold 129 acres within the Princeton Master Plan. The vast majority of the property is intended for residential development, while 13 acres are set aside for commercial space. The buyer wasn't disclosed.
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Vision Commercial Real Estate facilitated the sale of an office/medical development at 3125 Matlock Road in Arlington. The site consists of two buildings totaling 22K SF. The new owner, who was self-represented in the transaction, plans to renovate the property. Vision Vice President and associate broker Jeff Marek represented the seller.
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Rise48 Equity acquired Pecan Ridge, a 210-unit multifamily property in Dallas. The company plans to spend more than $5M on renovations.
CONSTRUCTION AND DEVELOPMENT
Family Gateway opened in a new 33K SF facility on Preston Road in North Dallas. Formerly a Candlewood Suites, the 50-unit space was designed by Kirksey Architecture and will allow the organization to serve more families affected by homelessness.
FINANCING
Gantry secured $23.4M of senior financing and preferred equity to capitalize the acquisition of DFW Corporate Park, a 211K SF flex-industrial park at 2100 N. Highway 360 in Grand Prairie. The property includes rear-loaded warehouse spaces, modern office suites and streetfront retail spaces for lease. Gantry principal Braden Turnbull and associate Keegan Bridges secured the financing on behalf of the borrower, a private real estate investor.
