This Week's Dallas-Fort Worth Deal Sheet
Seven new businesses are headed to The Village at Allen and The Village at Fairview (at 75 and Stacy Road) in the next 15 months, including two hotels, several restaurants and bars, and a bank.
Among the newcomers: Wild Salsa, Residence Inn by Marriott, Home2Suites by Hilton, Capital One Bank, Bar Louie, Bonefish Grill and Sushi Axiom. Openings are expected between next month and spring 2017 with Wild Salsa (with more than 100 tequilas from which to choose) will open first. The Residence Inn will start construction this fall Home2Suites will start construction in spring 2016; both will be in The Village at Fairview. Bar Louie, Bonefish Grill and Sushi Axiom should all open in the next three months. Capital One will open in spring 2016.
EXECUTIVES
Kimberly Hopkins has been named the executive director of CREW Dallas. She was hired by CREW Dallas in 2008 as chapter administrator and became director of operations for the nonprofit organization in 2011.
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Eddie Liebman was promoted to EVP with the investment advisory services division of The Weitzman Group. He specializes in the sale of commercial property in the Dallas area, as well as retail property leasing.
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Blake Shipp was promoted to SVP and director of project leasing with the commercial retail division of The Weitzman Group. He specializes in retail project leasing and retail tenant rep throughout DFW, as well as site selection and ground-up development for local, regional and national clients. He is responsible for managing Weitzman's project leasing team.
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Rob Buie joined Granite Properties as director of property management-Dallas. He will oversee and supervise multiple property operation teams in the Dallas area. He has worked with Cinemark in property management and development and Trademark Property Co. Most recently, he was a commercial asset manager at Westdale Asset Management. At Granite, Rob oversees four property management teams that are responsible for Granite’s entire Dallas portfolio, totaling 4.5M SF.
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SRS Real Estate Partners added Woody McMinn as president of North American brokerage in the Dallas corporate HQ office. In this newly created position at SRS, Woody will be responsible for North American brokerage operations leading market leaders and their respective teams. He comes to SRS from UCR, where he was COO.
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Behringer appointed Thomas Kennedy as president of the funds that comprise the company’s opportunity platform—Behringer Harvard Opportunity REIT I and Behringer Harvard Opportunity REIT II. He had served as CFO and COO of UrbanAmerica Advisors since 2008.
SALES
SHOP Companies Investment Sales’ Tommy Tucker and Tim Axilrod repped two different sellers in the disposition of 78k SF across two shopping centers. The duo repped a Dallas-based LLC in the sale of the 50k SF Lakeview Crossing in Rowlett. It is 72% occupied. The buyer was a Houston-based LLC. They also repped a Texas-based LLC in the sale of the 28k SF Shops at Hulen in Fort Worth to a New Jersey-based private corporation.
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13910 Distribution Way purchased a 51k SF industrial building at 13910 Distribution Way in Farmers Branch from Sandstone Development. Lee & Associates’ Nathan Denton and Corbin Blount repped the seller. Stream’s Ryan Boozer repped the buyer.
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Area Metropolitan Ambulance Authority sold a 28k SF flex building at 3010 South Grove St in Fort Worth to Peter Lyden. Transwestern’s Jeff Givens and Davy Wright repped the buyer.
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2GR Equity and its investor partners purchased the 27k SF 3310 Matrix Dr in the Renner Technology Business Park off the President George Bush Turnpike and Renner Road in Richardson from an owner/operator. Paladin Partners’ Brett McMillan will handle the leasing.
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Walking T. Ranch sold 2.4 acres with a vacant structure at 12208 S Pipeline Rd to Epic Pavers. Coldwell Banker Commercial Alliance DFW’s Theron Bryant and Casey Tounget repped the seller. Coldwell Banker Commercial Alliance DFW’s Chris Mendez repped the buyer.
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Americo-GRU 1925 purchased a 50k SF industrial distribution building at 1925 N Great Southwest Pkwy in Grand Prairie from SMC Marketing Corp. Hudson Peters Commercial’s Michelle Hudson and Scott Jackson repped the seller. Americo’s Shane Clark repped the buyer.
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Colliers’ Lizzy Blake and Jack Minter repped ANA Properties 4600 Greenville Building in the sale of the 56k SF 4600 Greenville Ave in Dallas to Dallas Production.
THIS & THAT
The Weitzman Group managing director Bob Young and Cencor Realty Services and The Weitzman Group president and CEO Marshall Mills joined forces last week to cook and serve breakfast to their DFW team for administrative professionals day.
FINANCING
Pillar, a Guggenheim Partners affiliate, originated a $9.2M Fannie Mae acquisition loan for Stonebrook Village, a multifamily affordable housing property in Frisco. The property was developed in 1994 and is close to full occupancy. Marc Cesare, director of Pillar in the Dallas office, originated the fixed rate, 10-year term loan with a 30-year amortization rate and one-year interest only.
KUDOS
BOMA Southwest Region honored its top buildings and employees at its regional awards banquet in Tulsa. BOMA Dallas won seven awards, including the award for buildings 250k to 499,999 SF, which went to 17Seventeen McKinney, managed by Granite Properties. Here’s Granite’s Audra Ward, Billy Conn, Michele Martin (17Seventeen property manager), BOMA Southwest Region president Melissa Graham, Granite’s Lesia Aguilar and Gary Johnson (Granite). Other award-winners include: 8100 Lomo Alto, managed by CBRE and associate director Julie Young, for the under 100k SF category; Hunt corporate HQ, managed by Hunt Office management and facility manager Ben Tyler for corporate HQ; Energy Plaza, managed by Transwestern and senior property manager David Bryant Jr. for the Earth Award; Freeport X, managed by Duke Realty Corp and property manager Christy Walters for Industrial Office Building; Preston Commons, managed by CBRE and real estate manager Stacia Garvin for Renovated Building; Tollway Plaza, managed by CBRE and general manager Cathy Kuebler for Suburban Office Park Mid Rise; and Mark Wilshire of Peloton for Southwest Region Outstanding Member of the Year. These Southwest Region winners will compete at the International Awards Ceremony on June 30 in Los Angeles.
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CoreNet presented awards to its local chapter winners at the George W. Bush Library and Museum (here’s E Smith Realty’s Sarah Catherine Norris and IA Interior Architects’ Skyler Baty at the gala). The winners include Rambler Park for its first LEED Platinum EBOM in the Sustainable Leadership Award category; the Toyota relocation with the Dallas Regional Chamber and Plano EDC for the Economic Development Leadership Award; Rex Miller, Mindshift, for the Industry Excellence Award; Bob Canavan of Nokia for the Corporate Real Estate Executive of the Year; buildingcommunityWORKSHOP for the Community Impact Award; Cushman & Wakefield for the Service Provider of the Year; and Omniplan’s Amanda Buckley for the Young Leader Award. The winners will move on to the CoreNet global competition.
GROUNDBREAKING
The American College of Emergency Physicians broke ground on a new 58k SF HQ at 1125 Executive Circle in Irving. Cawley Partners is developing the building, designed by Boka Powell. Swearingen Realty Group brokered the deal and is managing the project.
NEW BUSINESS
The former Belo Building, rebranded as 400 Record, is getting renovations. The 17-story 235k SF office tower at the corner of Wood and Record streets in Downtown Dallas is owned by the Hartland-Mackie family. Gensler has been tasked with the renovation, which will include significant upgrades to the entrances, a new glass-walled lobby, a sky garden on the top floor, a restaurant, a new fitness center and new conference center. Cushman & Wakefield’s Matt Schendle, JJ Leonard and Rena Chappell will lease the building, which has multiple full floors available.
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GK Development has announced that Ridgmar Mall will get an interior makeover and a remodeled cinema to begin in the next few months. The Rave Ridgmar13 + Xtreme has already started a remodel of the multiplex theater. The mall’s revitalization plan will allow natural light from existing skylights to be more diffused. During construction, all stores will be open.
MEA CULPA:
We thought Transwestern energy and sustainability VP Mahesh Tharoor was so green that we’d give him another e in his name in his sustainability tips article in Friday’s issue. We apologize for the error.
