This Week's Dallas-Fort Worth Deal Sheet
A 242-acre development in Frisco is expanding with the addition of a new mixed-use district.
Initial plans for The Towers at Frisco Station include a Class-A speculative office tower, an upscale hotel, a national retailer and at least four fine-dining options, according to a news release. The district could eventually include up to five office buildings comprising 3M SF.
“With the addition of The Towers, Frisco Station is expected to see a growing amount of daytime traffic, continuing to provide Frisco with a one-of-a-kind, holistic development that encourages a smart, creative and healthy lifestyle,” Robert Folzenlogen, senior vice president of strategic development and innovation for master developer Hillwood, said in a statement.
Launched in 2015, Frisco Station so far includes 700K SF of Class-A office space, nearly 1,000 multifamily units and 450 hotel rooms across three properties.
PEOPLE
Linda McMahon has been selected as the sole finalist in the Dallas Economic Development Corp.’s search for its first CEO. The board will vote May 7 on her appointment, and if approved, McMahon will officially start July 1. Her track record of more than 40 years includes serving as president of The Real Estate Council since 2010.
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Paladin Partners added Robert Miller as partner. Miller began his real estate career in 2002 in California with Lee & Associates before relocating to DFW more than 10 years ago. He has experience working with industrial tenants and landlords in the Metroplex and beyond.
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Lion Real Estate Group hired Amanda Zinsmeyer as vice president of marketing and education, bringing more than 30 years of multifamily and real estate industry leadership to the firm. Zinsmeyer comes to Lion from Allied Orion Group, where he held the same title.
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Allison McNamara assumed the interim role of general manager at Will Rogers Memorial Center following the retirement of Kevin O Kemp. McNamara will oversee all operations, personnel and sales functions for the 120-acre complex. She previously served as operations manager at the Fort Worth Convention Center.
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Chase Chasteen will serve as general manager of the Le Meridien Fort Worth Downtown, scheduled to reopen this summer. The 189-room historic hotel just underwent a multimillion-dollar facelift.
LEASES
Commercial Van Interiors signed a long-term lease for 25K SF of industrial space and five acres of outdoor storage at 114 Industrial Park, a development at 138 Leopard Road in Rhome. Todd Lambeth, executive vice president and managing partner of Bradford Commercial Real Estate Services, represented the tenant. Mark Boone of LanCarte Commercial represented the landlord, 114 Industrial Park LLC.
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New Zealand-based logistics company Mainfreight signed a long-term, build-to-suit lease for a 62K SF freight terminal on a 21-acre site at 112 Harmon Road in Hanslet. The owner of the property is Harmon CTH, a special-purpose entity managed by Chicago-based Timber Hill Group and Champion Realty Advisors. Lee & Associates DFW represented the owner while Mainfreight was represented by CBRE. Harmon CTH broke ground on the site last October and expects construction to be complete in December.
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Procurri leased 44K of primarily industrial space at 2523 Golden Bear Drive in Carrollton. Josh Barnes at Holt Lunsford Commercial and DJ Draper and Chad Albert of Stoic Real Estate Partners handled the transaction.
SALES
A local investor acquired a 60K SF showroom and warehouse facility at 4641 Nall Road in Farmers Branch. The transaction was handled by DJ Draper and Chad Albert of Stoic Real Estate Partners.
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Top Door Investors acquired a 21K SF facility at 2330 Jett St. in Farmers Branch. Troy Morgan of Structure Commercial represented the purchaser and DJ Draper and Chad Albert of Stoic Real Estate Partners represented the seller.
FINANCING
Fundrise secured $125M in financing for an industrial portfolio including four single-tenant industrial warehouse and distribution assets in DFW, Phoenix and Los Angeles. The portfolio, which includes 4653 Nall Road in Farmers Branch, is 95% leased to three tenants specializing in third-party logistics and support. The Cushman & Wakefield equity, debt and structured finance team of Rob Rubano, Brian Share, Max Schafer and Ernesto Sanchez represented the borrower. Will Strong of Cushman & Wakefield’s National Industrial Advisory Group provided market advisory. The loan was provided by Franklin BSP Realty Trust.
CONSTRUCTION AND DEVELOPMENT
Hillwood will break ground in June on Alliance Westport 14, a 767K SF, Class-A speculative industrial building at AllianceTexas. The building is designed by GSR Andrade Architects and financed by Frost Bank. Westwood provided the building’s civil engineering design and Hillwood Construction Services will serve as the general contractor for the project.
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Jackson-Shaw broke ground on Lakeview Business District in North Shore Rowlett. The seven-building, 1.8M SF business park is expected to be complete in March 2025. The SAF Holland Group has leased Building 6. Compatriot Capital is the equity partner, Peinado Construction is the general contractor, Pross Design Group is the architect, Hunt & Joiner is the structural engineer, Kimley Horn is the civil engineer and Bank OZK and Affinius Capital provided the financing.
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Griffin Swinerton broke ground on a 40K SF hangar and 3K SF customs building at McKinney National Airport at 1508 Industrial Blvd. The developer is partnering with the city of McKinney and general contractor Swinerton on the project. JRMA and Garver are overseeing architecture and engineering.
