This Week's Dallas-Fort Worth Deal Sheet
Since 2012, 10 North Central Texas counties have been battling poor air quality standards after failing the 2008 eight-hour ozone National Ambient Air Quality Standard. As a result, the ground-level ozone is monitored and targeted for reductions because of its potentially harmful effects to people and the environment.
The 10 counties include Collin, Dallas, Denton, Ellis, Johnson, Kaufman, Parker, Rockwall, Tarrant and Wise. To create awareness, Air North Texas is sponsoring Clean Air Action Day (for the sixth year) this Friday. The idea is to find ways to improve air quality. It can be something as simple as carpooling, combining trips or using mass transit. Meeting the federal air quality standard is important for health and quality of life for area residents. High ozone levels can make it more difficult to breathe deeply, cause shortness of breath and pain when taking a deep breath, or cause coughing and a sore or scratchy throat. Breathing ozone-polluted air also aggravates lung diseases such as asthma, emphysema and chronic bronchitis. Children, the elderly and people with these conditions are more sensitive to ozone, but even healthy adults can be affected.
EXECUTIVES
Dana Blair joined Hunt Mortgage Group as VP in the small loan group. She will source and originate Freddie Mac and Fannie Mae small loans for clients in the central region of the US, which includes Texas and surrounding states. Blair comes to Hunt Mortgage Group from Bank Financial in Plano, where she was a VP of apartment lending.
***
InvenTrust Properties Corp named Alan Grayson director of leasing in the company’s Dallas office. He'll oversee all retail leasing activities and assist in market expansion efforts for the North Texas and Western regions of the company’s national portfolio. Prior to joining InvenTrust Properties, he spent 10 years at the MG Herring Group, most recently as VP of leasing.
***
Lincoln Harris CSG promoted Jason Manske to VP with the company’s healthcare transaction services platform. He will provide leasing and advisory services to healthcare clients. He specializes in medical project leasing, medical tenant representation, acquisitions, dispositions, new development analysis, and portfolio and financial solutions.
***
Majestic Realty Co added Josh Wheeler as VP, director of development in its Fort Worth office. Josh relocated from the company’s LA HQ. He will focus on the implementation of the company’s revitalization of the 70-acre mixed-use project in the historic Fort Worth Stockyards. Majestic, in partnership with the Holt Hickman family, has formed the Fort Worth Heritage JV to enhance, preserve and revitalize the iconic Fort Worth Stockyards. In addition, Josh will also focus on Majestic’s 321-acre commercial/industrial development in south Fort Worth, another joint venture with the Hickman family.
NEW BUSINESS
Workplace Resource Group broke ground on its new $3.3M industrial warehouse at 2639 E Rosemeade Pkwy in Carrollton. MYCON General Contractors is the GC on the 70k SF build-to-suit project, which includes 50k SF of warehouse space and 20k SF of office space. The project team includes: O’Brien Architects; civil engineer Binkley & Barfield; and structural engineer Hunt & Joiner.
***
Cinemark completed a $3.2M renovation at 220 E Westchester Pkwy in Grand Prairie. The 43k SF project included renovating the corridors, restrooms, lobby, game room and back-of-house operations with improved finishes; creating an interior ticket office and concession area with new casework, high-end finishes and food service equipment; updating the façade to promote the new interior upgrades; and installing a 60-foot electric signage tower visible from the adjacent freeway. The project team included MYCON General Contractors and TK Architects.
SALES
JOHTC purchased a 19k SF flex building at 2623 National Circle in Garland from Gerow Enterprises. Hudson Peters Commercial’s Scott Jackson repped the seller. Kee Commercial’s Sandy Kee repped the buyer.
***
Structure Commercial partnered with MDT Investments in the purchase of the 102k SF Prairie Creek Village Shopping Center at the northwest corner of West 15th Street and Independence Parkway in Plano. Structure’s Jeremy Cummings and Eric Deuillet brokered the deal with the Byrne Co’s Sean Byrne, who repped the seller. The two groups partnered to purchase the center across the street, Cloister Square, just over a year ago and took it from 65% occupied to 97%.
***
Emmanuel Holdings sold 18k SF on 21.3 acres at 2801 Wood Dr in Garland. Stream’s Ryan Wolcott and Matt Dornak repped the buyer, Kingsley Industrial. The duo also repped Rockin’ N Enterprises in its sale of 15k SF at 2765 W Kingsley Rd in Garland.
***
Bright Realty brokered the sale of 5.62 acres in Lewisville in the Castle Hills area. The company owned 19 acres of SH 121 frontage road property adjacent to Nebraska Furniture Mart and has sold the final acreage to Unser Racing for an indoor go-cart racing and events center. Bright’s Tim McNutt and Britton Lankford brokered the sale for Bright Realty. JLL’s Forshey Hoobler and Craig Phelps repped the buyer.
