This Week's Dallas-Fort Worth Deal Sheet
Café Brazil fans rejoice! The coffee house and late night eatery is relocating from its 2k SF Cedar Springs location to a larger space just down the road with on-site parking.
Café Brazil will open more than 3k SF (with a patio!) at 3851 Cedar Springs Road. The interior will be completely remodeled, and construction is scheduled to begin in October and deliver by 2017. Greg Pierce and Ryan May with CBRE’s Dallas office repped Café Brazil.
EXECS
Henry S. Miller added Steve Donosky to its executive leadership team. Steve rejoined the company as president of HSM Dalcon, the division specializing in land acquisition and single-family residential lot development.
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The McKinney Avenue Transit Authority hired Richard Swan as its new CEO. Richard was previously the director of emergency operations with the Louisiana Department of Transportation and Development since 2011.
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Michael Caffey is assuming executive responsibility for CBRE’s Latin American business. As president of the Texas-Oklahoma Division, Michael also oversees CBRE’s business in Texas, Oklahoma, Arkansas and Louisiana.
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Michael Levy, previously COO of Morgan Stanley Investment Management, will be joining Crow Holding’s senior leadership team.
SALES
An undisclosed buyer acquired The Shops of Grapevine Mills, a 27k SF multi-tenant retail center at the North entrance of Grapevine Mills Mall. After leasing up the center, Structure Commercial's Eric Deuillet and Troy Morgan brokered the transaction for the seller. Green Earth Realty's Manuel Ramon repped the buyer.
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Institutional Property Advisors, a division of Marcus & Millichap, sold a two-property, 730-unit multifamily portfolio: Franciscan of Arlington, a 418-unit apartment community in Arlington, and Village of Hawks Creek, a 312-unit complex in Westworth Village. IPA’s Will Balthrope, Drew Kile and Joey Tumminello brokered.
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Irving-based Realty Capital Management sold six acres at the northwest quadrant of Avondale-Haslet Road and Business 287 in Haslet to an undisclosed buyer. Realty Capital Management’s Mark Boone repped the seller. Quine & Associates repped the buyer.
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David Hinchliffe and Joan Anita Hinchliffe sold 3402 Garden Brook Drive in Farmers Branch, a 3k SF building, to Tekzoom. Mercer’s Adam Curran repped the seller. Stream’s Matt Dornak and Ryan Wolcott repped Tekzoom.
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Greysteel arranged the sale of Wexford Townhomes, a 17-building, 122-unit multifamily property in Duncanville. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson repped the seller and procured the buyer.
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Venture Commercial Real Estate’s David Schnitzer repped R.E. Lopez & Associates in the acquisition of a 16k SF building at 550 East 15th St (above) in Plano for a relocation and expansion of its law offices. EDGE Realty Partners’ Brandon Crow and Wilson Stafford repped the seller, 4 Green House Holdings I.
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Revolution Retail Systems leased 63k SF of office and warehouse space in Valwood 33, 1400 Valwood Pkwy in Carrollton, from RCI Valwood. Bradford’s Brian Pafford and Jason Miller repped the landlord. Jackson Cooksey’s Bob Luttrell repped the tenant.
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Everrich Industries renewed 10k SF of warehouse space in Marsh Business Park Building 1, 1050 Venture Court in Carrollton. Bradford’s Susan Singer, Brock Wilson and Joe Santaularia repped the landlord, GIJV TX 3. NAI Robert Lynn’s Chad Albert repped the tenant.
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Joseph Dingman bought 9k SF at 3838 Cavalier Road in Garland. Andrew Scott repped the buyer. Mercer’s Ryan McCarthy repped the seller, John Key.
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Knopt Family bought 66k SF at 1121 108th St in Arlington. Mercer’s Jeremy Mercer repped the buyer. Proterra Properties’ Chris Bly repped the seller, American Hometex.
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JLL’s Chris Stout and Melissa Holland negotiated the sale of 10 acres in Richardson on behalf of Rockwell Collins. Breckenridge purchased the tract.
LEASES
JLL’s Pat McDowell negotiated a new 10k SF office lease on behalf of Cotten Schmidt & Abbott. The Fort Worth-based law firm will be relocating to the top floor of the Pier 1 Imports Building at 100 Energy Way in Fort Worth. JLL’s Todd Burnette repped landlord Pier 1 Imports.
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Service First Mortgage leased 25k SF of office space in McKinney Corporate Center I, a Class-A office building at 6800 Weiskopf Ave. The company will relocate its HQ from Richardson to McKinney. Cushman & Wakefield’s Craig Wilson, Dan Harris and Randy Cooper brokered.
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Byram Healthcare Centers leased 18k SF at Heritage Business Park 8, 1080 South Kimball Ave in Southlake. Stream’s Blake Kendrick, Ryan Boozer and Sarah Ozanne repped the landlord, Prologis. Cushman & Wakefield’s Shannon Johnston repped the tenant.
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Ed F. Davis leased 12k SF at Northgate Distribution Center No. 1, at 11501-11567 Hillguard Road in Dallas. Lee & Associates’ Brett Lewis repped the landlord, GLP. Stream’s Ryan Wolcott and Corbin Stall repped the tenant.
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Tanner Electronics extended 11k SF at 1100 Valwood Pkwy in Carrollton. Stream’s Blake Kendrick and Mackenzie Ford repped the landlord, GLP. Hamill Commercial’s Gregg Hamill repped the tenant.
FINANCING
HFF secured $43M in acquisition financing for Alexan Fairmount, a 368-unit, Class-A mid-rise apartment community in Dallas’ Oak Lawn neighborhood. HFF worked on behalf of the borrower, Pure Multi-Family REIT, to place the 12-year, fixed-rate loan with Cigna Investments.
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An experienced ownership group purchased the Loop Apartments in Denton. Old Capital arranged the 75% LTC loan assumption and supplemental for the new buyer. The remaining loan term was eight years with a 30-year amortization at a fixed rate.
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Old Capital provided the Fannie Mae cash-out refinance 12-year term at a rate around 4% for the 200-unit Arbors of Arlington apartments in Arlington.
THIS AND THAT
NAI Robert Lynn received the NAI Global President’s Award at the 2016 NAI Global Convention in recognition of its leadership, teamwork and performance.
