This Week's Dallas-Fort Worth Deal Sheet

Swiss firm Empira has revealed plans for its 35-story luxury residential high-rise headed for Downtown Dallas. 

The tower at 711 N. Pearl St. is slated to include 370 market-rate units and eight penthouses. Ground-level retail of 9K SF and a seven-level parking garage are also included, according to a news release.

"Dallas has been on our radar for several years as the city has rapidly transformed into a national powerhouse, attracting new residents, professional talent and businesses," Empira Group Chairman Lahcen Knapp previously said in a statement, as reported by the Dallas Business Journal. "From highly-educated young professionals to empty nesters looking for a vibrant lifestyle, everyone wants to live in Dallas."

The company plans to begin construction later this year, with an expected completion in 2026.

PEOPLE

Garfield Public/Private added Laura Galbreath as senior vice president of development. In her new role, Galbreath will help bolster the firm’s hospitality development group. Prior to joining Garfield, Galbreath served as chief operating officer at EYP, an international architecture firm that was acquired by Page in 2022.

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Brandon Monroe was promoted to senior project manager in Method Architecture’s Dallas office. He joined the firm in 2022.

LEASES

Amped Fitness leased 39K SF at Richardson Plaza, 110 W. Campbell Road in Richardson. Matthews Associate Vice President and Associate Director Grayson Duyck represented the landlord.

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India Metro Hypermarket leased 10K SF at Panther Creek Village, 5850 FM 423 in Little Elm. GC Carriero of DuWest Realty represented the landlord. The store is expected to open this summer.

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Star Concessions leased 11K SF at 7929 Brookriver Drive in Dallas. TXRE Properties owns the property and also represented the tenant.

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Stream Realty Partners facilitated the following leases.

• Barcel USA renewed 308K SF at 301 Northpoint Drive in Coppell. Stream’s Jeremy Kelly and Sarah Ozanne represented the landlord, Clarion Partners. CBRE represented the tenant.

• Modular Power Solutions leased 305K SF at M-75 Commerce Center in McKinney. Stream’s Mac Hall represented the tenant. JLL represented the landlord, Longpoint Realty Partners.

• Littler Mendelson renewed 26K SF at Trammell Crow Center, 2001 Ross Ave. in Dallas. Stream’s Chase Lopez and Marissa Parkin represented the landlord, Regent Properties. Kelley Kackley and Taylor Dickerson with JLL represented the tenant.

• MedSpa Logistics expanded to 20K SF at Cascade One, 104 Decker Court in Irving. Stream’s Lopez and Patrick Cruz represented the landlord, Sason. Woodbine represented the tenant.

SALES

Southfield Park 35 Building 4, a 160K SF warehouse at 9039 Old Hickory Trail in South Dallas, sold for an undisclosed price. Colliers Executive Vice Presidents Chris Teesdale and Tom Pearson, alongside Vice President Ben Wallace, represented the owners, Seefried Properties and Affinius Capital.

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Top Door Ventures acquired a 21K SF warehouse at 2330 Jett St. in Farmers Branch from Awe Capital Investments. Troy Morgan of Structure Commercial represented the purchaser, and DJ Draper and Chad Albert of Stoic Real Estate Partners represented the seller. 

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Midway Asset Partners purchased a 31K SF warehouse at 4301 N. Beltwood Parkway in Farmers Branch. DJ Draper and Chad Albert of Stoic Real Estate Partners handled the transaction. 

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TH Logistics Fund I, a joint venture between Chicago-based Timber Hill Group and Champion Realty Advisors, sold a 40-acre industrial outdoor storage yard at 5301 Wilbarger St. in Fort Worth. The buyer was a special purpose entity owned by Green Courte Partners. The sales price was undisclosed.

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Stonelake Capital Partners acquired 4400 Diplomacy Road, a 120K SF distribution building in CentrePort Business Park near the Dallas Fort Worth International Airport. Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke and Madeleine Supplee represented the private seller in the transaction. The Stonelake Capital Partners team of Coleman Brown, Michael Massad, Will Thomas and Keontae Burns oversaw the acquisition of the asset.

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Partners Real Estate arranged the sale of a 12K SF medical office property at 107 Suncreek Drive in Allen. Partners’ Ryan McCullough and Bennett Greenbaum represented the seller, 107 Suncreek.

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Rise48 Equity acquired Copperfield Apartments in Fort Worth. The company plans to invest more than $9M in renovations and will rebrand the property as Rise Spring Pointe.

CONSTRUCTION AND DEVELOPMENT

J.P. Morgan Global Alternatives, in conjunction with architect Entos Design and general contractor Michael Walker Construction, completed renovations at 2515 McKinney, a 179K SF office tower in Uptown Dallas. The project improved the lobby and added new amenities, including a tenant lounge, public corridors, a conference center, a fitness center, an outdoor patio and grab-and-go coffee and lunch options. Stream Realty Partners’ Rhett Miller and Patrick Cruz handle leasing for the building.

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KDC and Wells Fargo celebrated the topping out of the financial institution’s net-positive energy campus at 401 W. Las Colinas Blvd. in Irving. The 850K SF facility will allow Wells Fargo to consolidate multiple offices across DFW by the end of 2025. Partners on the project include Corgan, Kimley Horn and Austin Commercial.

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Legacy Partners opened Ovation at Galatyn, a 361-unit apartment community at 2323 Plaza Blvd. in Richardson. The development was designed by WDG.

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Creation completed Fort West Commerce Center, a three-building, 532K SF, master-planned, Class-A industrial development in North Fort Worth. Prior to the building’s completion, Big Ass Fans leased the 221K SF Building A for its Central U.S. distribution hub, along with an office and showroom. Lockheed Martin leased the 136K SF Building C for a storage and distribution facility. Building B remains available for lease with 174K SF. Matt Carthey and George Jennings of Holt Lunsford Commercial are handling the leasing. LGE Design Build designed and led the project.

FINANCING

IPA Capital Markets arranged $37M in financing for Dane Park, a luxury, 392-unit multifamily property in Grapevine. Brian Eisendrath and Cameron Chalfant, based in IPA Capital Markets’ Los Angeles office, secured the financing on behalf of a private investor. 

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Powerweld renewed 12K SF in GSW Industrial Center I, 602 Avenue K in Grand Prairie. Chris Kennedy, broker associate of Bradford Commercial Real Estate Services, and Joe Santaularia, senior vice president and managing partner, represented the tenant. Luke Davis of Stream Realty Partners represented the landlord, G&I IX Ave K Greenview.

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Newmark arranged debt financing for the development of Tristar Business Park, a 174K SF industrial project in Irving. The financing will fund ongoing construction efforts in conjunction with the joint venture equity placement secured by Newmark in September. Newmark Capital Markets Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa, Managing Director Zach Riebe and Associate William Hairston secured the debt financing from a regional bank on behalf of the ownership, a joint venture between Hopewell Development and MBK Industrial Properties, a division of MBK Real Estate.

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Walker & Dunlop arranged $108M in financing for the equity recapitalization of a four-property office portfolio spanning nearly 1M SF in Atlanta; Dallas; Raleigh, North Carolina; and Washington, D.C. The recapitalization provides the portfolio with more than $20M of immediately available capital for leasing costs and additional capital improvements. The W&D New York Capital Markets team led by Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Christopher de Raet served as exclusive advisers to Vero Capital and Prime Finance and secured the commercial mortgage-backed security loan with Goldman Sachs and Argentic.