This Week's Dallas-Fort Worth Deal Sheet
Q Real Estate Holdings acquired the four-building, 389k SF Verizon campus in Galatyn Park Urban Village with plans to reposition the site for new tenants after the telecom giant departs in Q4 ’16.
The new owners—the real estate affiliate of Fort Worth-based Q Investments—are offering tours of the property at 2400 North Glenville in Richardson for the first time since the property was built for Verizon in 1989. Q Real Estate plans to begin renovations to reposition the property for new tenants as soon as Verizon leaves. DTZ senior managing director Trey Smith and managing director Clint Madison will oversee leasing. This site is one of the largest contiguous blocks of available space in the Dallas market, the DTZ guys tell us. The buildings are divisible and within walking distance of a DART stop.
TRANSPORTATION
Zipcar has grown its presence along DART’s rail lines. Now Zipcars can be picked up along all four lines (orange, green, red and blue). A new location with two cars has opened at Inwood Station near Love Field and Southwestern Medical Center and an additional car has been added to the existing Mockingbird Station location. The expansion builds on Zipcar’s partnership with DART, which kicked off in February with two cars at Mockingbird Station. Demand has since grown, calling for more Zipcars in more locations along the rail lines. Dallas Zipcar members have access to the five cars along the transit lines and more than 50 Zipcars in the Metroplex.
SALES
InvenTrust Properties Corp acquired the 170k SF The Highlands of Flower Mound for $46M. The 96% occupied shopping center provides InvenTrust the opportunity to increase its Dallas presence.
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Trademark Property Co completed WestBend 2, a 57k SF Class-A office building at its WestBend mixed-use development in the University District in Fort Worth. The three-story building at 1701 River Run Rd is situated on top of the newly opened The Fresh Market gourmet grocer and adjacent to the Trinity Trails, with views of the Trinity River from all floors.
THIS & THAT
CBRE announced a record-setting donation of $235k to Camp John Marc, a 170-acre camp and nonprofit organization that serves Texas-area children living with chronic illnesses and major physical disabilities. The record proceeds were raised at the 17th annual Chefs Showcase hosted by CBRE earlier this year, bringing the total raised since the event began to more than $2.225M. Here’s CBRE executive managing director for project management Mark Fewin and wife Maria with CBRE executive managing director for CBRE’s Texas/Oklahoma/Arkansas region Michael Caffey and his wife, Anne, at the the 2015 Chefs Showcase at The Ritz-Carlton Dallas.
