This Week's Dallas-Fort Worth Deal Sheet
JLL negotiated a 65k SF office lease on behalf of Service King Collision Repair Centers. The automotive repair company will open new offices at Galatyn Commons, at 2375 North Glenville Drive in Richardson.
The new office will house 170 Service King employees, who will relocate from the company’s home office in Richardson’s Tower 2600.
Service King expects to take occupancy of the new office (above) by summer 2017. Corgan is planning the facility’s interior design prior to build-out. JLL’s Steve Thelen and Kimarie Ankenbrand repped the tenant. Chris Taylor with Cushman & Wakefield and Russ Johnson with Peloton Commercial Real Estate repped the landlord.
EXECS
Trademark Property hired Gavin Walsh as senior leasing representative. With 12 years of retail leasing experience, Walsh will support leasing efforts for Waterside in Fort Worth, Watters Creek in Allen and Hillside Village in Cedar Hill.
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Downtown Dallas Inc. welcomed Jacob Browning as manager of urban planning. Browning will develop policy guidelines and recommendations for activation of districts Downtown, as well as helping stakeholders navigate City Hall regulations and processes.
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Henry S. Miller Cos. appointed Frank Bullock to executive vice president of its retail division.
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Byron Chambers and Jonathan Kelley were named new principals for Gensler’s Dallas office.
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Ryan Cos. U.S. extended its presence in the south central region and added a DFW office by naming Rich Couturier as vice president of development. Couturier has more than 20 years of development and construction experience.
SALES
CBRE sold Clifford Crossing (above), a 4k SF retail strip in West Fort Worth. Blazing Meadows Investments purchased the asset for an undisclosed price from MG Retail Partners, which developed the property in a joint venture with Vaquero Ventures. This is the first U.S. investment for South African-based Blazing Meadows Investments.
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Bright Realty brokered the sale of a 10k SF retail center called Century Square in McKinney. Bright Realty leased the center for the past five years. Tenants include Anytime Fitness, DOC, Pure Plates and Choice Beverage. Bright Realty’s Britton Lankford and Tim McNutt repped the seller. Lee and Associates’ Mark Graybill repped the buyer.
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Rowan Properties sold the 72-unit Ash Park apartments in Richland Hills. Rowan Properties repped both the seller, the original builder of the property, and the purchaser, an investment group out of California.
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Sealy Cos. bought 164k SF on 20 acres at 601-751 Canyon Drive in Coppell. CBRE’s Jack Fraker repped the seller, Cohen Asset Management.
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Spraberry Interests bought 183k SF on 17 acres at 4201 North Beach St. in Fort Worth. CBRE’s Jack Fraker repped the seller, Mercantile Partners.
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Transwestern managing director Steve Simon and principal Matt Hurlbut repped MLMT 2005-LC1 Freeway Offices in the sale of DFW West. The 86k SF office building at 4001 West Airport Fwy. in Irving sold at an undisclosed price.
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Transwestern principal Clint Riley repped Texas Pine H in the sale of 4809 South Westmoreland Road in Dallas. The 47k SF industrial building, part of Redbird Industrial Park, was purchased by Quartz Place for an undisclosed amount.
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Transwestern principal Bill De La Chapelle and associate Ben Phillips repped B.P.T. Investments in the sale of 1039 and 1041 Avenue M, a 26k SF industrial building in Grand Prairie. The building was purchased by an undisclosed buyer, repped by Stream’s Hanes Chatham.
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Hanley Investment Group sold a single-tenant Just Brakes store at 6530 North Central Expy. in Dallas. Executive vice president Eric Wohl, along with Hanley Investment Group’s associates Austin Blodgett and Andrew Cunningham, set a new national record cap rate representing both the buyer, a private investor based in Austin, and the seller, a private development firm based in Chicago.
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Rowan Properties repped the seller of the 308-unit Parks of Denton in Denton. The off-market transaction was the first purchase in Denton County for the California investment group and the third sale in Denton County for Rowan Properties in the last six months.
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Younger Partners’ John St. Clair and Kevin Harrell repped an undisclosed buyer in the acquisition of two acres at the northeast quadrant of McKinney Ranch Parkway and Lake Forest Boulevard in McKinney. The buyer, a developer, plans to immediately begin building a 15k SF retail center. Younger Partners will also handle the leasing of the project. Bry Taylor of Bryson Messer Properties repped the seller.
LEASES
Farmbyrd, a new fast-casual restaurant, is now open at Preston Parker Crossing in Plano. CBRE’s Greg Pierce and Ryan May repped Farmbyrd in site selection and lease negotiations.
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Gemmy Industries leased 82k SF at 117 Wrangler Drive in Coppell. CBRE’s Steve Trese repped the landlord, Buchkead-Coppell Industrial. NAI Robert Lynn's Mark Miller repped the tenant.
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Geodis renewed 181k SF at 3901 Adler Road in Dallas. CBRE’s Ann Huntington repped the tenant. CBRE’s Kacy Jones repped the landlord, Apre Series 1-30 Distribution Center.
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Rudolph Foods Co leased 26k SF at 3615 Pipestone Road in Dallas. CBRE’s Kacy Jones and John Hendricks repped the landlord, Stonelake. CBRE’s Scott Alexander repped the tenant.
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Sapa Extrusions leased 25k SF at 3615 Pipestone Road in Dallas. CBRE’s Kacy Jones and John Hendricks repped the landlord, Stonelake. Fischer’s Shannon Bode repped the tenant.
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Bentintoshape leased 13k SF at 10590 King William Drive in Dallas. Mercer Co’s Jeremy Mercer repped the tenant. Lee Associates’ Adam Graham repped the landlord, East Group Properties.
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Springleaf signed a 25k SF lease at 125 East John Carpenter Fwy. in Irving. Transwestern principals Fletcher Cordell, Matt Hurlbut and Nathan Durham repped the building owner, Brookwood. JLL's Russell Cosby and Torrey Littlejohn repped the tenant.
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Jamie Correa leased a 5k SF freestanding restaurant at 2901 Central Expy. in McKinney. Don Wass and Scott Rose of Structure Commercial negotiated the lease.
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Creative Manufacturing leased 31k SF as an expansion at 3701 New York Ave. in Arlington. CBRE’s Brian Gilchrist repped the tenant. The landlord is G&I Midpoint.
DEVELOPMENT
The seven-story, 237k SF Factory Six03 removed the second water tank from its roof to be refurbished. The process involves several entities, including TxDOT. Once Factory Six03 delivers, each of the three tanks will be restored to its former silver glory and reinstalled on the concrete platform, which will also undergo restoration.
