This Week's Dallas-Fort Worth Deal Sheet
Construction began this week at the 327-unit Oleander Apartments in Fort Worth’s medical district. Developer Lang Partners selected KWA Construction and JHP Architects to design and build the 279k SF complex, set to be completed by summer 2017.
The project will be built on two separate city blocks and connected by a bridge over Seventh Avenue. Both apartment complexes will be five-story wood frame buildings and will lease for $1,100 to $2,800 per month.
EXECS
Tyler Williams joined Port Logistics Realty as director of investments. He'll focus on industrial property acquisition and development activities across the US. He was previously on the industrial acquisitions and development team at CT Realty.
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Brian Scruggs joined Westmount Realty Capital as managing director of acquisitions.
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Grand Prairie Mayor Ron Jensen was elected chair of the Regional Transportation Council. He'll lead the 44-member RTC for the next year, which will include the 85th Texas Legislative Session.
SALES
3184 Quebec sold 73k SF at 3184 Quebec St in Dallas to Peto Holdings. Stream's Jason Moser repped the seller. Mercer’s Jeremy Mercer repped the buyer.
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David and Anita Hinchcliffe sold 32k SF at 3402 Garden Brook Drive in Farmers Branch to Tekzoom. Stream's Matt Dornak repped the buyer. Mercer Co’s Adam Curran repped the seller.
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Regal Center sold 42k SF at 1750 Regal Row in Dallas to Sumair Trading. Stream's James Mantzuranis and Jordan McFarland repped the seller. Parvez Malik with Henry Miller Brokerage repped the buyer.
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Child Care Nutrition sold 15k SF at 2505 Farrington St in Dallas to Raymond Pittet and Harmony Pittet. Stream's Hanes Chatham repped Raymond Pittet.
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McMahon Contracting sold nine acres at 804 West Shady Grove Road in Grand Prairie to National Stone Management. Stream's Hanes Chatham and David Guinn did the deal direct.
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Effective Environmental sold its 10k SF building at 1809 Jester Drive in Corsicana to North 400 Realty. RE/MAX of Corsicana's Karen Williams repped the seller. Stream's Tyler Maner repped the buyer.
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Regal Point Partners sold 39k SF at 310-320 Regal Row in Dallas to Osage Properties. Stream's Jamie Jennings, Jason Moser and James Mantzuranis repped the seller. Kevin Cavasos with Ellis & Tinsley repped the buyer.
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An affiliate of First Industrial Realty Trust sold its 100k SF building at 3030 Hansboro Ave in Dallas to an undisclosed buyer. Stream's Jamie Jennings, James Mantzuranis and Matt Dornak repped the seller.
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Stream's Hanes Chatham repped Raymond Pittet in the sale of a 12k SF showroom at 1215 Slocum St in Dallas.
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American Newland Communities and its JV partner, North American Sekisui House, acquired 729 acres for a master planned community in Frisco that will include 1,800 single-family homes and 1,400 apartment units, retail and office space set to open in 2018.
ED F Davis leased a 12k SF industrial space (above) at 11527 Hillguard Road in Dallas. Lee & Associates’ Brett Lewis and George Tanghongs repped the landlord, GLP. Stream Realty’s Ryan Wolcott repped the tenant.
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Half of Half Name Brand Clothing leased 24k SF at 3539 West Airport Fwy in Irving. Bright Realty’s Kerry Assa and Britton Lankford repped the landlord. The Retail Connection’s Jennifer Reynolds repped the tenant.
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Konica Business Solutions USA renewed 12k SF of office space from 701 Industrial Ltd at 8713 Airport Fwy in North Richland Hills. Cushman & Wakefield’s Robbie Baty repped the tenant.
DEVELOPMENT
Adolfson & Peterson Construction will build a new 46k SF medical office in Southlake. It's developed by USPI and designed by E4H Architects. Construction begins this August with a completion date set at August 2017.
FINANCING
BMC Capital's Brian Gramlich arranged a $6M loan for the cash-out refinance of a multifamily property in Irving. The loan features a 3.6% fixed rate for five years and a 25-year amortization. The loan was secured through one of BMC Capital’s correspondent banking relationships.
THIS AND THAT
PMRG will lease the 41k SF office building owned by Uptown Energy Partners at 2602 McKinney Ave in Dallas. PMRG VP Shea Byers and leasing manager Brittany Ricketts will lead the leasing.
