This Week's Dallas-Fort Worth Deal Sheet
KDC & Rubicon Representation announced a 155k SF Class-A, medical office development at Gateway and State Highway 161 in Las Colinas.
Phase 1 will break ground this fall. It will consist of 95k SF and be anchored by one of the most prolific primary care groups in North Texas, Healthcare Associates. Phase 2 will break ground shortly thereafter and will consist of 60k SF. It will house an ambulatory surgery center and medical office. The anchor tenant space is available.
EXECS
Lamont Rattler joined 29th Street Capital as VP of multifamily acquisitions in Dallas. He is responsible for all facets of the privately held real estate investment and advisory firm’s multifamily acquisitions and asset management strategies.
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Arch-Con Construction has new retail leadership with Thomas Crowther. Thomas has nearly two decades of retail experience managing new construction and renovation projects for national retailers, including Target, JCPenney and Walmart.
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John Land has been promoted to deputy city manager of Farmers Branch. John served the Frisco Chamber of Commerce as president from '07 until '09, when he returned to Farmers Branch.
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NAI Robert Lynn promoted Chad Albert to principal. Last year, Chad became the youngest broker in the country to attain the SIOR designation. With his recent promotion, he is the youngest principal at NAI Robert Lynn.
SALES
Mitchell Asset Group purchased two renovated office buildings (above) at 201 and 213 Foch St in Fort Worth. Principal Dax Mitchell and head of acquisitions Andrew Gi led the deal in-house. Vasseur Commercial’s Gary Vasseur and Nathan Vasseur and CBRE’s David Walters repped the seller. Kelly, Hart & Hallman’s Andy Rogers and Beth Thurman repped Mitchell. Vista Bank provided lending, repped by EVP Jason Vinson.
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Broe Real Estate Group completed the sale of a retail property at 2800 Forest Lane in Dallas for $20M. The 164k SF building is leased to Home Depot on a triple-net basis, under a long-term lease.
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Transwestern closed on a 320-unit, Class-B property, Sun Oaks Apartments, at 3550 Timberglen Road in Dallas.
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The Estate of Dorothy Coulsting sold 47 acres at 8000 and 8080 West Cleburne Road in Fort Worth to Hillwood RLD. Transwestern principal Lester Day and associate Grant Huff repped the seller.
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KRAF Minnis Co sold a 30k SF industrial building at 2441 Minnis Drive in Haltom City to RH Minnis Investments. Transwestern principals Todd Hawpe and Jeff Givens repped the seller.
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The Carol Irrevocable Trust sold a 15k SF flex building at 2890 Market Loop in Southlake to David Premo. Transwestern director Jim Sager repped the seller.
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Environmental Friendly Coatings sold its 26k SF building at 1833 North Stemmons Fwy in Carrollton. Stream’s Eric Crutchfield repped the seller, and Middendorf Commercial repped the buyer.
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Wheel Group Holdings leased 24k SF at 2602 West Highway 303 in Grand Prairie. Stream’s Luke Davis and Cannon Green repped the landlord, Cabot Properties. Avison Young repped the tenant.
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ELL Commercial Properties I sold its 23k SF building at 2311 Midway Road in Carrollton. Stream’s Eric Crutchfield and Mackenzie Ford repped the seller, and CBRE repped the buyer.
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MJ Rome advised the seller of the 163-room Holiday Inn Express & Suites in Irving near the north entrance to DFW International Airport.
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Overlook Terrace purchased the 8k SF Overlook Centre, on a .5-acre lot at 1200 Overlook Terrace in Fort Worth, from Overlook Terrace JV. Bradford’s Erik Blais repped the buyer. Jerry Barton of the Jerry Barton Co repped the seller.
Lee & Associates closed a sale for a 59k SF industrial building (above) at 1501 Luna Road in Carrollton. Lee & Associates’ Nathan Denton and Corbin Blount repped the seller, Nu Vista Series 1D. Stream’s Ryan Boozer repped the buyer, H&A Brothers.
LEASES
Ebby Halliday Corporate leased a 15k SF office space at 4441 Sigma Road in Farmers Branch. Capstone Commercial’s Steve Burris and Larry Robbins repped the landlord and negotiated the lease with Jefflyn Williamson of Jefflyn Properties.
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Gatti’s Great Pizza signed a 12k SF retail lease in Town Mesquite East Crossing at 2021 North Town East Blvd in Mesquite with Morben Realty Co. Transwestern VP Trey Neville, associate Amber Calhoun, managing director Frank Bullock and principal Whit Kelly repped the tenant.
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Chisholm Energy signed a new 22k SF office lease in Burnett Plaza at 801 Cherry St in Fort Worth. Transwestern associate Grant Huff repped the tenant.
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TitleMax leased 15k SF at Avion Business Center in Carrollton. The tenant was repped by Dominus Commercial's David Newman. Younger Partners' Trae Anderson and Garrett Marler repped the landlord, Capital Commercial Investments.
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Goodnight Water Solutions leased 8k SF of office space from CPUS Premier Place at 5910 North Central Expy in Dallas. Cushman & Wakefield’s Dan Harris repped the tenant.
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12M Research Services leased 12k SF for five years at Skymark Tower at 1521 North Cooper St in Arlington. JLL’s David Walters repped the tenant, and Derek Alexander repped the landlord, Hartman Income REIT.
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Signature Medical Imaging renewed 12k SF for one year at Commerce Plaza Hillcrest at 12850 Hillcrest in Dallas. Brooke Burnham repped the landlord, Hartman Income REIT.
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ARC Government Solutions leased 32k SF at 3250 Story Road West in Irving. CBRE's Wilson Brown repped the landlord, Dividend Capital Trust. Stream’s Jason Moser repped the tenant.
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GF-17 Inc, leased 21k SF at 210 South Fwy in Fort Worth. Sarah LanCarte repped the landlord, M2G Ventures. Stream’s Seth Koschak, Luke Davis and Forrest Cook repped the tenant.
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Crystal Clear Concepts leased 7k SF of industrial flex space in Northridge Business Center at 2004 North State Hwy 360 in Grand Prairie from Northridge GSW Partners. Bradford managing partner Michael Spain and VP Jim Ferris repped the landlord. Chas Lester of Charles Lester Realty Advisors repped the tenant.
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Fairway Investments awarded exclusive leasing of The Summit at Preston Trails to Stream Realty Partners. The 142k SF office complex is at 17101-17103 Preston Road and 17210 Campbell Road in Dallas. Stream’s Chase Lopez and Jordan McFarland will exclusively lease the property on behalf its owner, Fairway Investments.
FINANCING
PSRS closed a $7M, 16-year, non‐recourse loan for a Los Angeles-based borrower with John Hancock Life Insurance Co. The deal is for a Plano multifamily complex with 135 one‐ and two‐bedroom units.
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On behalf of S2 Capital, JLL secured financing for the acquisition and rehabilitation of River Oaks apartments, a 188-unit value-add asset in Arlington. Green Bank provided the loan. EVP Mark Brandenburg led the JLL team.
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Brian Gramlich of BMC Capital's Dallas office arranged a $750k loan for the cash-out refinance of a multifamily property in Dallas. The loan features a 4.5% fixed rate for five years and 20-year amortization.
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BMC's Brian Gramlich arranged a $1.4M loan for the purchase of a NNN property in Grapevine. The loan features a 3.75% fixed rate for five years and 20-year amortization.
