This Week's Dallas-Fort Worth Deal Sheet
Colliers International sold The French Quarter, a 46k SF garden office complex at 3610-3630 North Josey Lane in Carrollton. Colliers’ Greg Hoffman, Michael Carmichael, Chris Lipscomb and Lindsay Wolcott repped the seller. Dominus Commercial’s Justin Owen repped the purchaser.
The property consists of five single-story and two-story office buildings, is well-occupied by a mix of locally owned businesses and professional services tenants, and provides access to major highways, including President George Bush Turnpike, I-35E and Highway 121.
EXECS
Michael Austry joined CBRE’s retail investment sales group in Dallas to focus on growing CBRE’s market share of private capital and net lease investment sales. Michael previously worked at the Vitorino Group and Marcus & Millichap.
SALES
SHOP Companies Investment Sales sold Campbell Village, a 37k SF retail center at Hillcrest and Campbell roads. At the time of closing, it was 95% leased to Leslie’s Pool Supplies, North Texas Physical Therapy, Campbell Village Veterinary Hospital, Armani Salon, Empire Cleaners, Meat Point, Rover Sleepover and others. The buyer was a private purchaser from California in a 1031 tax deferred exchange.
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SHOP Companies Investment Sales sold Stanley Crossing, a 7k SF retail center in Southlake. At the time of closing it was 100% leased to Bibbentuckers, RE/MAX and Indulge Nail Salon. The seller was a Dallas LP and the buyer was a Delaware LP in a 1031 tax deferred exchange.
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Chesapeake sold 18 acres at 2241 East 4th St in Fort Worth to Top Golf. Transwestern principals Jack Huff, Kyle Poulson and Kelly Whaley repped the buyer.
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TCRG Opportunity VII LLC sold 13 acres at 1140 and 1180 Everman Pkwy in Fort Worth to Everman Industrial. Transwestern’s Jeff Givens, Jack Huff and Kyle Poulson negotiated.
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Maynard & Roberts sold a 38k SF industrial building at 112 and 120 South Sylvania Ave in Fort Worth to 220 Sylvania Partners. Transwestern’s Jeff Givens, Todd Hawpe, Jack Huff and Kyle Poulson negotiated the transaction.
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JAM Real Property sold an 8k SF industrial building at 4813 and 4841 Freeman Drive in Fort Worth to BMTWR Properties. Transwestern’s Todd Hawpe and Trey Neville repped the buyer.
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ES&H of Dallas purchased 11 acres at 3405 Gilbert Road in Grand Prairie from Lawrence Watts. Bradford’s Will Dillard repped the buyer in the direct deal.
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Motor Speedway Partners sold 46k SF of land at Texas Speedway Centre in Northlake to MHR Landlord. Transwestern’s Lester Day repped the seller.
The Weitzman Group negotiated the sale of a convenience store on one acre at 4441 Bass Pro Drive (above) in Garland’s Harbor Point for an undisclosed price. The purchaser is the operator of the convenience store, Daanya. Weitzman’s David Zoller and Joey Keffler handled negotiations.
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3184 Quebec sold a 73k SF building at 3184 Quebec St in Dallas to Peto Holdings. Stream’s Jason Moser repped the seller. Mercer Co's Jeremy Mercer repped the buyer.
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SKL Investment sold a 28k SF building at 7600 Sovereign Row in Dallas to Mahoney Co. Chaltas Co repped the seller, and Stream’s Hanes Chatham repped the buyer.
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Dallas CES Investments sold 27k SF building at 8939 Directors Row in Dallas to 1910 Holdings. Stream’s Jason Moser repped the seller, Dallas CES Investments. United Realty's Sergio Rocha repped the buyer.
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Dallas Crystal Clear Sound sold its 12k SF building at 111 Oak Lawn Ave in Dallas to CM Cos. Bates & Myers Co repped the seller, Dallas Crystal Clear Sound. Hanes Chatham with Stream repped the buyer.
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Wilma Jordan sold four acres at 5200 Belt Line Road in Irving to Kayam Joshi. Stream’s Jeremy Kelly and Cannon Green repped the seller, Wilma Jordan. William Davis Realty repped the buyer.
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Greysteel sold The Charleston, a multifamily property in Dallas to Sir Julian. This sale was arranged on behalf of LSM 723 Marsalis by Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson.
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Dallas South 48 JV sold 41 acres of raw land (above) at 10407 South Central Expy in Dallas to William Young. Coldwell Banker Commercial Advisors' Wayne Burgdorf repped the seller. Realty Associates' Suzanne Haselberger repped the buyer.
LEASES
TIG’s Matthew Hickey repped the landlord, 2x2 Partnership, in a 45k SF long-term lease at 210 Adell Blvd in Sunnyvale. CBRE repped the tenant, MEDCO Construction.
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Wellington Realty leased the 8k SF stand-alone building at 400 East South St in Arlington to Free Play Arcade, DFW’s only full-size, retro arcade. Wellington Realty’s Jack Allen repped the tenant, and Dodson Development’s Ryan Dodson repped the landlord.
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Paperstone Enterprises leased 9k SF at 1711 Briercroft Court in Carrollton. Mercer’s Adam Curran repped the landlord, Floyd Ventures.
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RKMB leased 18k SF at 5151 Norwood Road in Dallas. Mercer’s Jeremy Mercer repped the tenant. CBRE’s David Easterling repped the landlord, Willsie Texas Properties.
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WORLDPAC renewed its 21k SF industrial lease at 2100 Handley Ederville Road in Fort Worth. Transwestern’s Jeff Givens repped the landlord.
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Nelson Bumgardner extended its 9k SF office lease in Museum Place at 3131 West 7th St in Fort Worth with Museum Place Flatiron Building. Transwestern’s Alex Bryant and Leland Prowse repped the tenant.
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Aero Parts Mart renewed its 8k SF flex lease at 4205 Stadium Drive in Fort Worth with Tyler Hamilton. Transwestern’s Jeff Givens repped the landlord.
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14 Karat Home signed a new 8k SF industrial lease at 3201 May St in Fort Worth. Transwestern’s Jeff Givens repped the landlord.
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Western Wealth Advisors signed an 8k SF office sublease in the Chase Bank Building at 420 Throckmorton St in Fort Worth with Encana Services Co. Transwestern’s Kirk Kelly repped the tenant.
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Ennova Learning Solutions renewed 11k SF of office space in Copeland Tower at 1250 East Copeland Road in Arlington. Bradford’s Erik Blais, Richmond Collinsworth, Jared Laake and Ed Pachecano repped the landlord, WF Tower-Dallas. Jackson & Cooksey’s Garrett Gibbons repped the tenant.
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Scentsy Inc leased 174k SF at Freeport III, 445 South Royal Lane in Coppell. Duke Realty’s Randy Wood repped the landlord in-house. Blake Kendrick with Stream repped Scentsy.
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Southwest Wheel Co leased 47k SF at 4809 South Westmoreland Road in Dallas. Transwestern repped the landlord, Texas Pine H Co. Stream’s Hanes Chatham repped the tenant.
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TSI Products renewed 30k SF at 623-625 107th St in Arlington. Stream’s Matt Dornak repped the landlord, DRH Realty.
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Galaxy Tire Wholesale leased 27k SF at 2915-2919 Merrell Road in Dallas. Billingsley Co repped the landlord, CB Merrell Road. Stream’s Corbin Stall and Matt Dornak repped the tenant.
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Stream’s Ryan Boozer and Mackenzie Ford repped GLP for 18k SF at 2819 Anode Lane. Lee & Associates' Mark Graybill repped the tenant, Monte Martin.
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Dickey's Barbecue leased 16k SF at Gramercy Center North, 18583 North Dallas Pkwy in Dallas. Stream’s Matt Wieser and Ryan Evanich repped the landlord, CPI Gramercy. Dickey Property Co's Cullen Dickey repped the tenant.
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Merge Office Interior extended 13k SF at 3230-3236 Garden Brook Dr in Farmers Branch. Stream’s Blake Kendrick and Mackenzie Ford repped the landlord, GLP. Springboard Consulting's Cindy Cohn repped the tenant.
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Stream secured a lease for the Hempel Group at Northport 35 in Northlake with Hempel USA. The 203k SF lease encompasses 100% of Building B at the Northport 35 Business Center. The lease brings the park’s total occupancy to 55%.
DEVELOPMENT
Dunhill Partners named Gatehouse Capital as the developer for the new Virgin Hotels Dallas in the Design District. The 240-room hotel will open in 2018. Construction will start March 2017 and it will be the first Virgin Hotel in Texas.
FINANCING
HFF arranged a total of $210M in first lien financing for Westwood Financial Corp comprising 10 multi-tenant retail centers in Arizona, California, Kansas, North Carolina and Texas (a Texas property in the deal, pictured above). HFF placed several new loans, including a 10-year, $110M, fixed-rate portfolio loan with a correspondent life company. HFF will service the $110M loan, proceeds of which will be used to refinance existing loans and will assist in corporate restructure to set Westwood for future growth. Two Dallas-area centers are in the portfolio: the 47k SF Hebron Parkway Plaza in Carrollton and the 226k SF Old Town Shopping Center in Dallas.
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Cushman & Wakefield secured bridge refinancing from Synovus Bank for Texas Crossing, the 857k SF office and industrial facility that previously served as the Blockbuster HQ and national distribution center. Cushman & Wakefield’s Beth Lambert and Diego Arroyave repped the owner, Saskaway Group.
THIS AND THAT
GroundFloor Development’s Millennium Apartments was named Multifamily Executive’s Mixed-Income Project of the Year. Built by KWA Construction, Millennium reserves 130 of its 164 units for affordable housing.
