This Week's Dallas-Fort Worth Deal Sheet
Harwood International topped out the Rolex Building. Harwood’s ninth building in its Uptown district will open in summer 2017.
The Rolex Building is being designed by HDF and Tokyo-based Kengo Kuma & Associates. This seven-story building features 137k SF, including 56k SF of office. Landscape architect Sadafumi Uchiyama designed an outdoor Japanese-inspired tiered garden.
EXECS
Younger Partners will merge with Novus Realty Advisors under the Younger Partners name. Younger Partners co-founders Kathy Permenter and Moody Younger will continue in their roles as senior partners and will add the seasoned leadership of Robert Grunnah and Sam Kartalis. Novus' brokerage group bulks up Younger Partners' new investments and land team.
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Brian Bacharach joined JLL as an EVP on the capital markets team in the Dallas office. Brian will provide healthcare real estate advisory and transaction services across the US.
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The Howard Hughes Corp hired Michael Slosser as EVP and managing director of hospitality. He will lead the company’s hospitality efforts across the national portfolio.
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KWA Construction promoted Brian Webster to president and Richie Keene to EVP. Founder/president Keller Webster will transition to chairman. Brian and Richie previously served as EVP and VP of operations, respectively.
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Steven Upchurch will join Cindy Simpson as co-managing director of Gensler in its Dallas office. Steven was previously at Gensler’s LA office.
SALES
HFF closed the sale of the Sheraton Dallas (pictured). The 309-room, full-service hotel is in Dallas’ Galleria submarket. HFF marketed the property on behalf of the seller, HEI Hotels & Resorts. A partnership between Driftwood Hospitality Management and an institutional real estate investor purchased the asset. Driftwood has assumed management of the hotel.
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Hatfield Properties purchased three acres at 8747 Harmon Road in Fort Worth.
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ACF Property Management purchased Sierra Vista Plaza, a 16-acre, 163k SF grocery-anchored neighborhood center in Oak Cliff. CBRE's Chris Cozby and Chris Gerard repped the sellers, Ares Management and Benchmark Opportunity Partners.
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Way Construction Services sold its 6k SF HQ at 1608 Osprey Drive in DeSoto to Faith Family Kids, which is in the process of expanding its central administrative offices.
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Walkon Properties acquired a 6k SF office building at 1308 Paluxy Road in Granbudy from Hezakiah Holdings. Shane Benner of Coldwell Banker Commercial Advisors DFW repped the buyer. Bradford CRE Services' Nick Talley repped the seller.
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A private investor purchased Treehouse Apartments, a multifamily property in Arlington, from RMC Consultants. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson repped the seller.
LEASES
OCBW leased 11k SF at 4010 La Reunion Pkwy in Dallas from Prim Turnpike Portfolio. Mercer’s David Guinn repped OCBW.
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Pecos Construction leased 5k SF from Hartman Income REIT at Gateway Towers at 811 LBJ Fwy in Dallas. Kent Realty’s Bob Kent repped the tenant. Hartman’s Jessica Cyphers repped the landlord.
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Service First Mortgage moved into the McKinney Corporate Center at Craig Ranch, leasing 25k SF of office space. McKinney Corporate Center at Craig Ranch is now 82% occupied.
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Hatfield Properties repped the Mesch McBride CPA firm in the acquisition of the 12k SF 600 Texas St building in downtown Fort Worth. Hatfield Properties is leasing up the remaining 6k SF on the second floor.
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PS Business Parks relocated an existing tenant from 26k SF to 45k SF at 1317 Royal Lane in Dallas. PS Business Parks’ Sloan Teegarden repped the landlord.
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Davita Dialysis leased 7k SF of retail space at 125 East Harwood Road in Hurst. Structure Commercial's Eric Deuillet negotiated the lease.
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Junkies Mechanic leased 6k SF of industrial space at 2701 Lipscomb St in Fort Worth. Structure Commercial's Monika Guzman negotiated the lease.
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Priceless Child Care & Learning Centers Inc leased 6k SF of retail space at 5103 Magna Carta Blvd in Fort Worth. Troy Morgan of Structure Commercial negotiated the lease.
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Modoma leased 5k SF of retail space at Prestonwood Park in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial repped the landlord, and Cushman & Wakefield repped the tenant.
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Turner, Stone & Co renewed 9k SF at 3 Park Central in Dallas. The tenant was repped by Macnoll Realty Advisors’ Steve Macnoll. The landlord was repped by Younger Partners’ Heather Shover, Kathy Permenter and Sean Dalton.
DEVELOPMENT
Alliance Architects will design Skyhawk Partners' 350k SF distribution facility in Wilmer. The 24-acre site (pictured) in Sunridge Business Park will feature 32-foot clear heights, and is slated for completion in July 2017.
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The Union Dallas poured the concrete foundation. Moving to the vertical construction phase means the construction crew will be increasing from 50 to nearly 200 before the end of December.
FINANCING
Experienced ownership purchased Walnut Bend Apartments in Dallas. Old Capital arranged the 75% LTC non-recourse bridge loan for the 260-unit multifamily project.
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Old Capital provided a bridge loan with $2.2M in rehab dollars for Parks at Walnut Apartments in Dallas. The 308-unit complex was financed in a five-year term with two years interest-only.
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Anchor Health Properties purchased Coit Medical Center, a 32k SF medical office building in Dallas. HFF's Evan Kovac, Todd Savage, Philip Mahler and Ben Appel marketed the property on behalf of the seller, Mohr Capital.
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Pillar originated $13M to acquire Basswood Manor in Lewisville, a Class-B, 212-unit multifamily property built in 1970. The fixed-rate, 10-year term Fannie Mae loan has a 30-year amortization schedule.
