This Week's Dallas-Fort Worth Deal Sheet
Phase 2 of an industrial park in The Colony is now complete.
Live Oak Logistics is a multiphase project developed by Link Logistics at 4401 Live Oak Drive. The second phase includes four buildings spanning 779K SF and is already 75% leased, according to a news release.
“When construction began in December of 2021, the market faced challenging conditions,” MW Builders’ Division Manager Charles Rombold said in a statement. “The success of the project is a testament to the team's ability to navigate material shortages and logistical hurdles, ensuring the project's on-time and high-quality completion.”
MW Builders is the general contractor, and design was led by GSR Andrade. Engineering and landscape architecture was led by Halff.
PEOPLE
Mike Oswald will become CEO of Richardson-based general contractor Hill & Wilkinson upon the transition of current CEO Paul Driscoll to chairman of the board. Oswald, who currently serves as chief operating officer, has served in various leadership roles at the firm for 20 years.
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Slava Pevzner will lead Forge Commercial’s new construction management service line as principal. The new vertical allows the firm to expand its agency leasing and tenant representation services to provide additional value to clients. Pevzner brings more than a decade of office, retail, healthcare and special use construction expertise to Forge Commercial.
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JLL hired Jim Eagle to its Fort Worth office as senior vice president. With a 46-year career in the industry, Eagle will focus on multiple business lines, including sales, acquisitions and leasing. He comes to the firm after serving as president and partner at Red Oak Realty.
LEASES
Visitech Americas signed a 19K SF renewal and expansion, adding 8K SF of office space in The Office Campus at Allen Building 2, 1301 S. Central Expressway in Allen. Jared Laake, vice president of Bradford Commercial Real Estate Services, represented the landlord, 1301 SCE. The late Dene Allred of CMI Brokerage represented the tenant.
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Abcom Technology Group renewed 17K SF of industrial space in Valwood 5 at 2110 Hutton Drive in Carrollton. Joe Santaularia, senior vice president and managing partner of Bradford Commercial Real Estate Services, and Brian Pafford, executive vice president and managing partner, represented the tenant. Robert Allen of First Industrial Texas represented the landlord.
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Restoration Solutions leased 14K SF of office/warehouse space in RiverPark Business Center at 15600 Trinity Blvd. in Fort Worth. Jason Finch, first vice president of Bradford Commercial Real Estate Services, and Michael Spain, executive vice president and managing partner, represented the landlord, SCG River Park Business Center. David Keal of Aubrey Keal Commercial Real Estate represented the tenant.
SALES
Lee & Associates DFW completed an industrial sale transaction for 149K SF at Redbird I, 5050 Investment Drive in Dallas. Colton Rhodes and Stephen Williamson of Lee & Associates represented the buyer, Longpoint Realty Partners. The seller was IMCD US.
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Younger Partners Investments acquired Midlothian Towne Crossing, a 147K SF retail center at the southeast corner of FM 633 and Highway 287 in Midlothian. YPI’s Moody Younger, Kathy Permenter and Micah Ashford handled the transaction. CBRE’s Chris Cozby, Harrison Tye and Jim Batjer represented the seller. Adam Mengacci of IPA was the mortgage broker.
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Marcus & Millichap facilitated the sale of Storage Bright Portfolio, eight self-storage facilities comprising 225K SF in the Texas cities of Springtown, Paradise and Weatherford. Danny Cunningham and Brandon Karr, leaders of the Karr-Cunningham Storage Team in Marcus & Millichap’s Fort Worth office, marketed the properties on behalf of the seller, a family investment partnership located in Springtown. The buyer, a Dallas-Fort Worth-based development and investment firm, was also secured by Karr and Cunningham.
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Greysteel arranged the sale of Kings Landing, a 64-unit multifamily property in Mansfield. Senior Managing Director Doug Banerjee and Associate Sterling Warren of Greysteel’s National Multifamily team represented the seller, 1300 Dallas, and secured the buyer, Tri-City Equity Group.
CONSTRUCTION AND DEVELOPMENT
Hillwood opened The Casey at The Frisco, a 300-unit luxury apartment community at 4250 Gridiron Road in Frisco. The property was designed by JHP Architecture/Urban Design, and construction financing was provided by Comerica.
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Grocery store, meat market and eatery Chalo India will open at Shops at Panther Creek in Frisco in May. Thurston Witt with CBRE represented Chalo India in the transaction, and Tim McNutt with DBA Commercial Real Estate represented the landlord.
FINANCING
JLL Capital Markets arranged a construction loan for The Grove at La Frontera, a mixed-use housing community in Arlington. Once complete, the property will include 336 mid-rise apartments, 60 bungalow-style single-family rental units and 10K SF of ground-floor retail. JLL worked on behalf of the borrower, Zale Properties, to secure the four-year, fixed-rate loan through Principal Asset Management. The team was led by JLL Senior Managing Director John Brownlee, as well as Bo Beidleman and Chad Lisbeth.
