This Week's Dallas-Fort Worth Deal Sheet

Fourteen555 office park will contain two, 240k SF, six-story office buildings at 14555 Dallas Pkwy in Addison. Designed by BOKA Powell architects, the buildings will feature Tollway visibility, efficient floor plates and five per 1,000 parking ratios. 

Cawley Partners has pre-leased 50% of the project’s northernmost building to an undisclosed tenant on a long-term lease. Fourteen555 (above) will deliver September 2018. Cawley Partners’ Bill Cawley, Jeremy Duggins and Addie Ludwig are leasing the project.

EXECS

Edge Realty Capital Markets hired Brad Francis as director of the Dallas office. Prior to joining Edge, Brad founded United Capital Advisors, which specializes in repping CRE investors as a debt and equity intermediary to capital markets. 

***

Westmount CFO Brant Brown has also been named COO. Brant will broaden his focus to include leadership and talent development, marketing, IT strategy and investment management.

***

Andrew Wiley joined JLL as VP of retail brokerage. He will focus on business development, sales transactions, and tenant and landlord representation.

SALES

PegasusAblon completed the purchase of University Place, a 18k SF retail strip center at the intersection of West University Drive and North Carroll Avenue in Denton. Jennifer Pierson and the entire team with Pierson Retail Advisors repped the seller, a private individual. JLL’s Randy Fleisher and Jeff Zickefoose sourced the project debt for the buyer.

***

Realsource Properties purchased 239k SF from COTG Partners at 1702 North Jupiter Road in Garland. CBRE’s Christopher Deuillet repped the seller. 

***

Allen Samuels Auto Group bought the former Grubbs Infiniti facility at 1661 West Airport Fwy in Euless. Henry S. Miller’s Bill Bledsoe brokered the deal. The property, now named Allen Samuels Direct, is open for business.

***

The Retail Connection and Rockstreet Partners sold the recently developed 55k SF Hobby Lobby on Park Boulevard and Plano Parkway in Plano. Patrick Toomey and Kyle Matthews of Matthews Real Estate Investment Services repped The Retail Connection and Rockstreet Partners.

***

Presidium Group purchased the Vistas at Lake Worth Apartments in Fort Worth. Presidium will upgrade and renovate both the exterior and interiors of the property to increase rents. The property has been rebranded as The Ascent.

***

Stan Johnson Co completed the sale of Midtown Medical Office Building, a 57k SF, multi-tenant medical office building at 900 Jerome St in Fort Worth to Roque Properties for $19M. Stan Johnson’s Toby Scrivner, Jeff Matulis, Grant Wilkins and Colin Cornell repped the seller, Ridgeline Capital Partners. Stan Johnson Co also repped the buyer.

Greysteel arranged the sale and acquisition financing for Casas de Brookbend, a multifamily property in Far North Dallas on behalf of Casas de Brookbend. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson repped the seller and procured the buyer, Casa de Arroyo. 

LEASES

Del Frisco’s Double Eagle Steakhouse leased 13k SF at McKinney & Olive at 2021 McKinney in Uptown. CBRE’s Jack Breard repped the landlord, Crescent McKinney Olive.

***

Liberty Surgical Associates Advisors leased 10k SF in an expansion from KBS III Legacy Town Center at 6900 North Dallas Pkwy in Plano. CBRE’s Dennis Barnes and Celeste Fowden repped the landlord. Putnam Commercial Real Estate’s Ron Putnam repped the tenant.

***

Chewy leased 663k SF from Crow Holdings at 7243 Grady Niblo Road in Dallas. Mark Collins and Adam Campbell with Cushman & Wakefield repped the tenant. CBRE’s Kacy Jones and Steve Koldyke repped the landlord.

***

Trinity Universal Insurance renewed its lease in Executive Center II at 8330 Lyndon B. Johnson Fwy in Dallas. Trinity Universal has occupied over 84k SF of office space in the complex since 2002, and the renewal is for 10 years. Mark Dowdle negotiated the lease on behalf of Boxer Property. Kemper’s Calvin Nash, along with Dan Fisk and Chris Wood with Cushman & Wakefield’s Chicago office, repped the tenant. 

DEVELOPMENT

Burleson EDC broke ground with Hayes & Stolz Industrial Manufacturing at Highpoint Business Park, a 144k SF office and manufacturing facility that will employ more than 100 people.

FINANCING

HFF secured $120M refinancing for Cityplace Tower, a 42-story, Class-A office tower (above) in Dallas. Working on behalf of Parmenter and Angelo, Gordon & Co, HFF placed the loan with Starwood Property Trust. The loan is interest-only for the full term and was used to refinance the existing debt and provide capital for future tenant improvements, leasing commissions and capital expenditures.

***

HFF arranged acquisition financing for ilume Park, a 240-unit, boutique apartment community at 3109 Douglas Ave in Oak Lawn. HFF worked exclusively on behalf of the borrower, Venterra Realty, to secure the five-year, fixed-rate acquisition loan with five years of interest-only payments through a life company correspondent lender.

***

Transwestern Investment Group closed TSP Value and Income Fund I, with total commitments of $160M. TSP Value and Income Fund I is a diversified, value-add fund that emphasizes income, disciplined risk management and proactive portfolio management.