This Week’s Dallas-Fort Worth Deal Sheet
Hardwoods Specialty Products leased 86k SF at 833-861 S. Great Southwest Pkwy in Grand Prairie from First Industrial Realty Trust. The transaction is another example of growing demand in the industrial sector.
Lee & Associates’s Tom Walrich and Reed Parker repped the tenant. CBRE’s Kacy Jones and Steve Koldyke repped the landlord. Pictured are Lee & Associates partners on a recent ski trip to Breckenridge: Mark Graybill, Tom, Adam Graham, Reid Bassinger, Trey Fricke, Ken Wesson, Nathan Denton and George Tanghongs. In another lease, George and Brett Lewis repped the landlord, Indcor Properties, in the 38k SF lease to Teco Metal Products at 11550 Hillguard Rd in Dallas. The tenant was repped by CBRE’s John Hendricks. The duo also repped Indcor in a 20k SF lease at 11460 Hillguard Rd in Dallas to Naylor Commercial Interiors, which was repped by Ken.
NEW DEVELOPMENT
Granite Properties plans to develop a new seven-story, 161k SF Class-A office project at Southlake Town Square. The project (called Granite Place at Southlake Town Square) will be on Highway 114 just east of North Carroll Boulevard next to the Southlake Hilton Town Square. Among the features are an attached parking garage, on-site fitness center, meeting facility and upscale restaurant. Granite plans to break ground this fall and build out remaining office space (more than 500k SF) as the market allows. Granite Place is in the design process with Beck Architecture, and a contractor should be selected this summer. Completion is targeted for late 2016.
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Liberty Property Trust completed construction of its 199k SF Class-A industrial building at 330 S. Royal Ln in Coppell. Architect is GSR Andrade, the GC is F.A. Peinado and the civil engineer is Kimley-Horn and Associates.
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Construction started on the new Parkview Commerce Center at 900 Gerault Rd, 901 Spinks Rd and 1001 Spinks Rd. The three-building project totals 276k SF. The project team includes owner/developer EastGroup Properties, Architects-Plus and MYCON General Contractors. The project is slated for completion this summer.
KUDOS
NAI Global named NAI Robert Lynn’s Todd Hubbard as one of its top 10 top producers.
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The Urban Land Institute’s North Texas District Council announced the finalists for the ULI North Texas inaugural Impact Awards (winners will be announced at the Impact Awards event on March 19). Finalists were named in the three built project award categories (Innovation, Influence and Public Place), as well as the Next Big Idea award. The Innovation award finalists include Prescott Realty Group’s BLVD Multifamily development; TBG Partners’ design for the Harvest development in Northlake, being developed by Hillwood; and the Beck Group’s submission of the Piano Pavilion at the Kimbell Museum of Art. The Influence award finalists include the City of Plano’s Downtown Plano Transit Village, Catalyst Urban’s Lancaster Urban Village Development and Cooper & Stebbins’ Southlake Town Square. The Public Place Award finalists include two projects submitted by The Beck Group, the Dallas Arboretum Rory Meyers Children’s Adventure Garden and Sundance Square Plaza in Fort Worth. The third finalist is SWA Group’s landscape and urban design plan for the Katy Trail. Finalists for the Next Big Idea award include ASH+LIME Strategies’ proposal entitled “Community Development as Economic Development,” Omniplan’s Dallas Midtown-Valley View/Galleria Area Plan and Trinity River Vison Authority’s Panther Island development in Fort Worth. The first Vision Award will also be presented to Ross Perot Sr. and Ross Perot Jr.
SALES
Quadrant Investment Properties purchased The Centrum at 3102 Oak Lawn in Dallas. The Class-A 392k SF office and retail project is currently 73% occupied. Renovations will begin later this year, including a redesigned lobby, outdoor courtyards and rooftop decks, and the addition of multiple food concepts. The renovations will also include updates to the common areas and parking garage, in addition to a spec suite program. QIP has hired Transwestern to lease the asset. CBRE will manage.
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Stream Data Centers sold the Stream Private Data Center in Richardson to a Fortune 1000 financial services firm. This purpose-built, hardened private data center provides 30k SF of raised floor with scale to 7.2 MW of critical load power in a 2N electrical configuration.
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JP Realty Partners sold the 186k SF Hillcrest Oaks at 6600 and 6606 LBJ Freeway to Quadrant Investment Properties. Colliers International’s Creighton Stark and Jack Minter repped the seller. Quadrant hired the Colliers International leasing team of Chris Lipscomb and Lindsay Wolcott to handle the marketing and leasing of the project.
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Consolidated Salvage purchased 18k SF at 2830 Ladybird Ln. Stream’s Ryan Boozer repped the seller. TCS Central Region GP’s Michael Griffin repped the buyer
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Ryan Cos sold a 23k SF office building at 1700 Coit Rd. Stream’s Ryan Evanich and Chase Lopez repped the seller. Mercer Co’s Adam Curran repped the buyer.
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5500 Centre LP sold the 18k SF 5500 Centre at 5500 E. Loop 820 in Fort Worth to ECS International. Coldwell Banker Commercial Alliance DFW’s Beaux Riley repped the seller in the direct deal.
EXECUTIVES
Cypress Equities hired Kelly Branum, Simon Honeybone and Angie Kory. Kelly will serve as investor relations manager overseeing day-to-day communication and interface with investment partners of the Cypress Acquisition Partners Retail Fund. Kelly comes to Cypress from Hudson Advisors. Simon is director of investments for the real estate investment management group and is responsible for outsourcing new retail investment opportunities in the western and northeastern US and oversee the implementation of the strategic plan of retail assets in the same region. He comes from Sarofim Realty Advisors. Angie is the VP of leasing and will oversee ground-up developments and enclosed regional malls in the western and southeastern part of the US. She was previously at American Realty Capital Partners.
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Northwood Retail (a subsidiary of Northwood Investors) promoted Ward Kampf from SVP of leasing and strategy to president. He will be responsible for helping to develop and implement the company’s strategic vision and growing its relationships with regional and national retailers. He will also continue to lead Northwood Retail’s leasing efforts. Also, Sandy Spurgin has been promoted to SVP of operations and development. Sandy will oversee all aspects of operations for managed properties and continue to lead the company’s development initiatives across the retail portfolio. Greg Karlen, former president, will serve as president emeritus and serve in an advisory capacity.
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JLL hired Adam Howells to lead its retail capital markets practice in Dallas. He joins the firm as a managing director, partnering with JLL’s capital markets leadership to strengthen the firm’s retail investment sales client service offerings. JLL also hired Jace Hinderland as a VP. The duo both come from UCR Investment Sales.
BROKER LOVE
Parmenter treated brokers to a Valentine's Day incentive of chocolates and wine on Thursday as the team showed off the top floor of Las Colinas Tower I. The 16k SF space also comes with monument signage on John Carpenter Freeway (with space expandable to 24k SF). Here's the Parmenter team displaying some of the wine and chocolates: Josh Hedderich, Stacey Barr, Kristi Torkildson, Lakeetha Richardson, Tammy McQuirk and Thom Ridnour. Thom tells us the full-floor space is ready for immediate occupancy or can be remodeled. The building's sister tower at Las Colinas Towers II will have its 26k SF fifth floor available this summer.
LEASES
Compass Production Partners leased 31k SF at 15601 Dallas Pkwy in Addison from Franklin Street Properties. The tenant was repped by JLL’s Jeff Staubach, Steve Thelen and Torrey Littlejohn. DTZ’s Chris Taylor and Trey Smith repped the landlord.
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EOS Solutions leased 12k SF at 1315 N. Royal Ln in Irving. The tenant was repped by DTZ’s Chris Hillman.
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Best Buy leased 33k SF at the southwest corner of Highway 67 and Pleasant Run in Cedar Hill from Retail Properties of America. The Retail Connection’s David Levinson, Jack Weir and Kendall Ibsen repped the landlord. The Retail Connection’s Susan Ridley repped the tenant.
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Hall Financial Group’s Kim Butler and her team of Tammy Nellis and Brad Gibson recently inked a lease in the office park to Apex TITAN for 10k SF (DTZ’s Dan Rasmussen and Stuart L Smith repped the tenant). Kim and Tammy also signed Transplace Texas to a 33k SF lease (Cushman & Wakefield’s Robbie Baty, Grant Pruitt and Bill McClung repped the tenant.)
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Clearsprings Loan Services signed a 34k SF lease at 18451 N. Dallas Parkway in Addison. Stream’s Matt Wieser and Ryan Evanich repped the landlord, CapRidge Partners. JLL’s Steve Thelen and Doug Carigan repped the tenant.
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BenefitsMall expanded its lease to 54k SF at 4851 LBJ Fwy in Dallas from YPI 4851 LBJ Fund. Bradford’s Melanie Hughes and Sharon Friedberg repped the landlord. Cushman & Wakefield’s Robbie Baty and Bill McClung repped the tenant.
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Gorilla Brake Texas leased 36k SF at 5108 Cockrell Hill Rd in Dallas from the McFadden Family. Bradford’s Will Dillard repped the tenant. Maverick Commercial Real Estate’s Brad Lipton repped the landlord.
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Carsandpickups.com leased 25k SF at 3400 Wiley Post in Carrollton. NAI Robert Lynn’s Chad Albert and Patrick Embry repped the tenant. Colliers International’s Greg Cannon repped the landlord.
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Burke’s Outlet signed a 24k SF lease at Ridgmar Town Square in Fort Worth. The Retail Connection’s Scott Rose repped the landlord along with EKH + Partners’ Earl Harris and Retail Plazas’ Cory McCord. Fox Graham’s Clay Graham repped the tenant.
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Town Center Bingo inked a 13k SF lease at La Gran Plaza Mall on the northwest corner of Seminary Drive and I-35W in Fort Worth from Boxer Retail. Boxer’s Beatrice Townsend repped the landlord.
