This Week's Dallas-Fort Worth Deal Sheet
Renovations and a new tenant are coming to Orchard Village in Lewisville. WinCo Foods occupies 86k SF as the anchor. The 170k SF center will undergo renovations (under the direction of Cencor Realty Services’ David McNeil and Katherine Ratliff) complete later this summer.
GFF will serve as project architect and create a new façade, new lighting and signage standards, and add additional landscaping. The Weitzman Group’s Matt Luedtke and Leon Jacobson will lease the development. Tenants that have already inked deals include Bestway, Livingston Hearing Aids, Freedom Rehab Specialties, Sukoon Coffee & Ice Cream, Threadz and Royal Massage.
EXECS
Greysteel named Duerk Brewer as a managing director to lead and oversee the firm’s operations and Transaction Services Center. Duerk is charged with contributing to the development of Greysteel’s strategic goals and objectives.
SALES
NAI Robert Lynn principal Chad Albert repped Autos of Dallas in the purchase of the 55k SF ex-Ewing Buick GMC Dealership in Plano, which will allow the auto dealer to nearly double its inventory to 1,000 vehicles.
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Intergroup Realty and MJ Rome advised the seller in the recent sale of the 122-room Hyatt Place Dallas/Las Colinas in Irving. The seller is an affiliate of Summit Hotel Properties, and the buyer is a private investment group in DFW.
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A partnership of The Johnson Development Corp and Tricon Capital Group purchased Trinity Falls community in McKinney. The JV purchased the 2,000-acre community from Castle Hill Partners, an Austin private investment firm.
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HFF closed the sale of, and arranged acquisition financing for, Plaza at Solana, a three-building office and retail mixed-use development in Westlake. HFF marketed the property on behalf of the seller, Equity Office. Harbert Management Corp purchased the asset for an undisclosed amount. The new owner secured a five-year, fixed-rate acquisition loan with a two-year extension through LegacyTexas Bank.
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Holland Sign/Display Co bought 72k SF at 2220 Delante St in Haltom City from CJM2 Properties. Mercer’s Bret Landfried repped the buyer.
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FW & Crowley Partners sold 90 acres at Summer Creek Drive and Sunflower Ridge Chisholm Trail Parkway in Fort Worth to Shipman Cos. Transwestern's Lester Day repped the seller.
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GLG Devco Development sold 110 lots at the Replat of Lawson Farms at FM 663 and Belmont Drive in Midlothian to DRHI. Lester Day with Transwestern and Matt Bilardi repped the seller.
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Display Source Design & Factory sold an 86k SF industrial property at 11218 Limestone Drive in Balch Springs to Traylor Investments Limestone. Transwestern's Todd Hawpe repped the buyer.
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Phillip Galyen sold one acre at 2510 Bardin Road in Grand Prairie to Los Cazadores Holdings. Transwestern's Grant Huff repped the seller.
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Ramsay-Griffay Assets and RLB Assets sold a 27k SF industrial building at 210 South Freeway and 510 East Broadway Ave in Fort Worth to R&S Miller Family. Sarah LanCarte with Transwestern repped the buyer.
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Tabani Realty acted as an intermediary broker in the sale of the newly renovated 160-room Best Western Plus Hotel and Conference Center in Dallas.
Marcus & Millichap sold The Gables of Notting Hill (above), a 175-unit apartment property in Hurst. Marcus & Millichap’s Al Silva and Ford Braly had the exclusive listing to market the property on behalf of the seller, a Houston-based private investment firm. Al and Ford secured the buyer, a private Dallas-based investment group.
LEASES
AutoNation leased 62k SF at Texas Plaza I in Irving. The landlord was repped by Todd Jones and Sarah Savage at Younger Partners. The tenant was repped by Russell Cosby and Scott Hage of JLL.
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A major health system leased 36k SF in the street-level retail portion of the Colonial Reserve at Medical District multifamily complex at 2222 Medical District in Dallas. JLL's Rob Franks and Cole Burdette repped the tenant, and Younger Partners' Heather Shover and Trae Anderson repped the landlord, Greenway Investment Co.
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Victoria's Secret is expanding from 4k SF to 8k SF in the Center Court of Golden Triangle Mall in Denton. Also, Bath & Body Works is expanding into 4k SF, up from its current 3k SF. The Weitzman Group and MGHerring Group handled lease negotiations on the expansions and the relocation for the mall.
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Cardinal Logistics Management leased four acres at 4700 Irving Blvd in Dallas. Formation Real Estate’s John Jinks repped the tenant. Mercer’s Jeremy Mercer repped the landlord, Trans Freight.
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Advanced Diagnostics leased 13k SF at 5139 Sharp St in Dallas. Mercer’s Jeremy Mercer repped the tenant. LPC’s Gil Stroube repped the landlord, Terra Management.
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Sprouts Farmers Market leased 28k SF at 7100 Wildcat Way in Dallas for a new grocery store. CBRE's Jean Smith repped the tenant. CBRE’s Jeff Kittleson and Rich Flaten repped the landlords, Cypress Advisors.
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Clopay Building Products leased 24k SF of distribution warehouse space in Belt Line Place, Building 3, 1305 West Beltline Road in Carrollton from 1305 West Belt Line Road LLC. Bradford Commercial’s Will Dillard repped the tenant. Jeff Strong and Steve Burris of Capstone Commercial Real Estate Group repped the landlord.
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Growth Holdings has renewed 21k SF of warehouse space at 11455 Newkirk St in Dallas. Bradford Commercial’s Jason Miller repped the landlord, ML Capital. Brandon Coutu of NAI Robert Lynn repped the tenant.
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Ozburn-Hessey Logistics renewed 617k SF of industrial space at 3700 Pinnacle Pointe Drive in Dallas. CBRE’s Ann Huntington repped the tenant. Hillwood’s Bates Arnot repped the landlords, Mept Gateway/Pinnacle Park.
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Shorr Packaging leased 86k SF of industrial space at Wildlife Commerce Park, Building II, at 2250 Lion Country Pkwy in Grand Prairie. JLL’s Craig Jones and Elizabeth Jones negotiated the lease on behalf of the tenant. Will Mundinger, John Bateman and Drew Tappan repped the landlord, Crow Holdings.
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Carrier Enterprise renewed 31k SF of industrial space at 2450-2462 Merritt Drive in Garland. CBRE’s Shirley Laymance repped the tenant. Holt Lunsford’s Joshua Barnes repped the landlord.
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Pediatrix Medical Group leased 37k SF of office space for renewal and expansion at 3002 President George Bush Turnpike in Richardson. Pat O’Keefe repped the tenant. CBRE’s Tommy Nelson repped the landlords, Buchanan Street Partners.
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In two separate transactions, TPC renewed 14k SF and 19k SF of office space at 7160 North Dallas Pkwy in Plano. Robert Lynn and Curt Lynn repped the tenant. CBRE’s Celeste Fowden, Seth Thatcher and Dennis Barnes repped the landlord, KBS III Legacy Town Center.
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National Math And Science Initiative leased 20k SF of office space at 8350 North Central Expressway in Dallas. CBRE’s Christopher Sido, Peery Wood and Ryan Buchanan repped the tenant. The landlord is Campbell Centre Limited Partnership.
Brixmor inked two tenants at Preston Ridge shopping center in Frisco with the addition of Nordstrom Rack and J. Crew Mercantile. These new retailers join Saks Fifth Avenue OFF 5TH, which opens in August, reflecting the growth of value-driven retail. J. Crew Mercantile will open in 6k SF in fall 2016, and Nordstrom Rack will open a 33k SF store in fall 2017.
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Austen Commercial Restaurant Equipment leased 31k SF at 6111 Fabrication St in Dallas. Mercer’s Jeremy Mercer and Landon Broach repped the landlord, Squiric Brothers Property.
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Interlake Mecalix signed a 114k SF industrial lease in Prologis Park 35 at 12301 and 12401 Stemmons Freeway in Farmers Branch with Prologis-North Carolina. Bill de la Chapelle, Sarah Lancarte and Sharon Johnson-Cramer with Transwestern repped the tenant.
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Virtuoso Ltd signed a new 24k SF office lease at 777 Main St in Fort Worth with F7 SSSM LLC. Jack Huff and Kyle Poulson with Transwestern repped the tenant. Whit Kelly and Kelly Whaley with Transwestern repped the landlord.
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XPressDocs Partners Ltd signed a new 22k SF industrial lease at 2303 Franklin Drive in Fort Worth with Kensington Realty. Transwestern's Jeff Givens repped the landlord.
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GF-17 signed a new 21k SF industrial lease at 210 South Freeway in Fort Worth with R&S Miller Family. Sarah LanCarte with Transwestern repped the landlord.
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Merry X-Ray Corp signed a new 14k SF industrial lease at 3029 East Randol Mill Road in Arlington with Grayscale. Frank Jester with Transwestern repped the landlord.
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Diamond Chain signed a 12k SF lease at 9120 Premier Row in Dallas with Bock Sylvia Living Trust. Joe Rudd with Transwestern repped the landlord.
DEVELOPMENT
Fort Capital began construction on its new 17k SF sustainable headquarters building (above) at 105 Nursery Lane in Fort Worth, slated for completion in February 2017.
THIS AND THAT
Greysteel was named exclusive adviser and agent by Metropolitan Capital Advisors for the sale of Herschel Manor, a multifamily property in Dallas. Greysteel's Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson are marketing the property.
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Allied Orion Group has been selected to manage Provenza at Windhaven at 4900 Windhaven Pkwy in Lewisville to add another 324-unit, Class-A community to its DFW portfolio.
