This Week's Dallas-Fort Worth Deal Sheet
Presidium Group acquired Linda Vista Apartments and Carlton Court Apartments in Dallas. Presidium has been steadily growing its presence in Texas metros, with over $250M of acquisitions to date in 2016.
Carlton Court is a 270-unit Class-B community that will be rebranded as Cottonwood at Park Central. Linda Vista’s 370 units will be renamed Linear. Located in North Central Dallas, Carlton Court and Linda Vista both are catty-corner of the exchange of I-635 and Central.
EXECS
Falcon Realty Advisors hired Sean Crowley to expand the firm’s medical retail footprint. Sean will focus on strengthening Falcon’s expertise in medical retail market strategies, site selection and negotiations.
***
Westmount hired Michael Rochester as senior director of engineering and construction. Michael will focus on the company’s asset approach in acquisitions and management.
***
JLL acquired the Dallas affiliate of IRR. IRR Dallas will bring 100 employees to JLL. The leadership includes Charles Bissell, Mark Lamb, Brian Chandler, Greg Cook, Chip Ard, Randy Williams, Darin Andrew Dalbom and David Dodd.
***
Hall Group hired Cynthia Cowen (left with Hall leasing team members Kim Butler and Brad Gibson) as a leasing manager at Hall Park, the 17-building, 3M SF office campus in Frisco. She was previously a senior member of the Cushman & Wakefield leasing team.
***
Todd Henson returned to McCarthy Building Cos as VP of transportation operations. McCarthy also promoted Bob Rogers to VP of marine operations, Fitz O’Donnell to marine project director and John Frazier to solar project director.
SALES
Foundry Commercial purchased 8080 North Central Tower, a Class-A office building spanning 289k SF, in a JV partnership with Boston-based Intercontinental Real Estate Corp. Amenities of the 96% occupied building include a 12-level parking garage and on-site retail.
***
MOFAM sold its 43k SF building at 8400 Ambassador Row in Dallas to 8400 Ambassador Row. Stream’s Jason Moser repped the seller, and Altschuler and Co repped the buyer.
***
WRF Investments purchased the 120k SF building at Prologis Trinity Mills 3, at 2425 Camp Ave in Carrollton, from Lightning PropCo I. Stream’s Ryan Boozer and Todd Poticny repped the buyer, and Lee & Associates’ Nathan Denton repped the seller.
LEASES
Venture Commercial Real Estate completed a 14k SF lease at 1600 East Southlake Blvd in Southlake with Starpower Home Entertainment Systems. Starpower is slated to open in early 2017. Venture Commercial’s David Schnitzer repped the landlord, and Christifulli Corp repped Starpower.
***
Comfort Auto leased 13k SF at 2618 West Highway 303 in Grand Prairie. Stream’s Cannon Green and Luke Davis repped the landlord, Cabot Properties. Realty Advisors’s Charles Lester repped the tenant.
***
Dal-Tile Distribution leased 35k SF at Frisco Commerce Center at 6644 All Stars Ave in Frisco. Stream’s Bob Hagewood repped the landlord, Windsor at Frisco Commerce Center. CBRE’s Nathan Lawrence repped the tenant.
***
JW Nutritional leased 14k SF at Jupiter Business Park, 2532 Summit Ave in Plano. DFW Lee & Associates repped the tenant. Stream’s Matt Dornak and Ryan Wolcott repped the landlord, DRA Advisors.
***
Walls Printing leased 22k SF at 8505 Chancellor Row in Dallas. Henry Miller III repped the tenant, and Mercer Co’s Jeremy Mercer repped the landlord, Shade Structures.
***
Mercer’s Jeremy Mercer repped Triversal Investments as it bought 27k SF at 1000 West Hurst Blvd in Dallas.
DEVELOPMENT
Cawley Partners plans a 100k SF, three-story office building in between Bethany and Legacy drives along southbound Central Expressway in Allen. Located on eight acres, the new office construction will feature efficient floor plates and 5/1,000 parking. The building is being designed by GFF Architects, and is being leased in-house by Bill Cawley, Jeremy Duggins and Addie Ludwig.
FINANCING
HFF secured permanent financing totaling $295M for five light industrial portfolios comprising 59 properties, 69 buildings and 8M SF in the Atlanta, Dallas, Salt Lake City, Denver and Phoenix MSAs. HFF worked on behalf of the borrower to place three 15-year, fixed-rate loans with Great-West Life & Annuity Insurance Co and two 15-year, fixed-rate loans with Voya Investment Management.
THIS AND THAT
Transwestern Development Co was recognized for 3400 @ CityLine at the 34th annual Richardson EDGE Awards as the 2016 Commercial Real Estate Project winner. 3400 @ CityLine is the first spec office building that has been built in Richardson in more than 15 years. The 310k SF project broke ground in June, adjacent to the 183-acre CityLine campus.
