This Week's Dallas-Fort Worth Deal Sheet
Walsh, a new 7,200-acre neighborhood under development by Republic Property Group in Fort Worth, will be the first community in the U.S. to be built from the ground up around a dedicated makerspace.
The collaborative workspace (rendered above) will have public access to tools and training in manufacturing for children and adults. The Makerspace at Walsh will debut with a woodshop, computer design software and 3D printers, laser cutters, robotics and an electronics lab. At build-out, Walsh will have 15,000 single-family homes priced from the upper $200k's.
EXECS
Nick Karanges joined developer and property manager Innovative Developers as senior vice president. Karanges was previously with Transwestern, where he dealt with office leasing, industrial sales and residential sales.
SALES
TMM Lubbock Avenue sold a 90k SF industrial building at 4200 Lubbock Ave. in Fort Worth. Holt Lunsford’s Donnie Rodhe and George Jennings repped the seller.
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Valdar Properties #5 sold a 41k SF industrial building at 617 South 4th Ave. in Mansfield. Holt Lunsford’s Donnie Rodhe and George Jennings repped the seller.
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A local ownership group acquired La Jolla Terrace Apartments in Arlington. Old Capital provided the long-term permanent Fannie Mae loan at 80% LTV. By using the green program, the buyer saved 33 basis points off its rate.
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Local investors acquired 7th Street Apartments in Fort Worth. Old Capital provided the Freddie Mac 30-year non-recourse loan for the 23-unit property.
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Rubicon Representation's Kyle Jacobs and Graham Perry sold two one-story office/flex buildings totaling 92k SF in Las Colinas. Zach Stevens of Robert Lynn repped the buyer.
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Grapevine V&S sold an 18k SF office/warehouse at 1010 East Dallas Road in Grapevine to HCCP 1010 East Dallas. Bradford’s Joe Santaularia and Brock Wilson repped the seller. Michael McGee of McGee & Associates repped the buyer.
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Austin-based Spraberry Interests purchased Mercantile Distribution Center 40 (above) at 4201 North Beach St. in Fort Worth from Fort Worth-based Mercantile Partners for an undisclosed price. The 183k SF distribution center is 100% leased. CBRE repped the seller.
LEASES
Kit Composites leased 32k SF at 4560 Leston Ave. in Dallas. Mercer’s Jeremy Mercer repped the tenant. Lee & Associates’ Phil Rosenfeld repped the landlord, Regal Business Center.
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Café Brazil’s new Cedar Springs location is now open at 3851 Cedar Springs Road. The new 3k SF location is more than double in size, offers more parking in the back of the restaurant and features a patio that fronts on Cedar Springs. CBRE’s Greg Pierce and Ryan May repped Café Brazil.
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Stream has been retained by Industrial Property Trust as the leasing company for the 141k SF industrial property at 5355 FAA Blvd. in Irving. Stream’s Cannon Green and Sarah Ozanne will lease the office and distribution property.
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RD&F Advertising leased 10k SF at 14901 Quorum Place. Citadel Partners’ Scott Morse and Taylor Dickerson repped the tenant. Stream’s Ryan Evanich, Chase Lopez and Jordan McFarland repped the landlord.
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Eatzi’s Market & Bakery leased 5k SF at Preston Royal Village Shopping Center East (rendered above). Greg Pierce and Ryan May with CBRE handled site selection for Eatzi’s. Edens’ Michael Hale repped the landlord in-house.
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Centene Corp. renewed 47k SF at The Centre at 4000 McEwen Road in Dallas. Boxer Property’s Alexander Renwick repped the landlord. Cushman & Wakefield repped the tenant.
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Mezquite Installations leased 24k SF at 2356 Merrell Road in Dallas. Mercer’s Keenan Cook repped the tenant. The landlord is 2356 Merrell Road LLC.
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Schulte Motorsports signed a long-term renewal for its 11-year address, keeping a four-tenant specialty retail center at 100% occupancy. Schulte’s Innovative Automotive is the second-largest tenant, occupying 4k SF of the 12k SF retail center at 410-16 Grapevine Hwy. in Hurst. Chris Mendez of Coldwell Banker Commercial Advisors DFW repped the landlord, Vikade.
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Coldwell Banker Residential Brokerage has renewed 7k SF of retail space in Tanglewood Village at 4500 Hartwood Drive in Fort Worth. Coldwell Banker Commercial Advisors DFW's Beaux Riley repped the tenant. Cassco Management Co.'s Sheryl LaBoyteaux repped the landlord, EG Tanglewood.
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Online Tech Stores leased 9k SF of warehouse space in Pinnacle Business Center Building II at 4310 Adler Drive in Dallas from CAM Pinnacle Industrial. Bradford’s Brian Pafford and Jason Miller repped the landlord. Michael Stanzel of NAI Robert Lynn repped the tenant.
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Accufleet International leased 6k SF of industrial flex space in Story Business Center at 3000 West Story Road in Irving from 3100 Emery. Bradford’s Kevin Brookmole and Drew Baccich repped the landlord. Lee & Associates DFW's Phil Rosenfeld repped the tenant.
DEVELOPMENT
Construction has commenced at Villas at Boston Heights, the first and only affordable housing project designed to LEED Silver standards or better in Benbrook. Developer OM Housing selected KWA Construction to build the 144-unit, 165k SF garden-style complex.
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Construction has started on a new facility for Dallas 24 Hour Club (above) at 4636 Ross Ave. The 14k SF home for transitional living for homeless men and women will be made possible by donors, as well as pro bono work by KDC, Austin Commercial, Balfour Beatty and The Beck Group.
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Henry S. Miller Co. is developing a Class-A HSM Hwy 66 Storage self-storage facility at 1020 Hebron Drive in Garland. CubeSmart will manage the 763-unit facility that encompasses 77k SF.
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Port Logistics Realty completed construction of the first building at the 531-acre Southport Logistics Park. The new 1.1M SF, Class-A property is in Wilmer. Southport Logistics Park is a joint venture with Diamond Realty Investments, a subsidiary of Mitsubishi Corp.
THIS AND THAT
Pierson Retail Advisors and the Vitorino Group entered into an agreement to merge and combine operations. The new firm will be called Strive. The two Dallas-based firms are led by Jennifer Pierson and Jason Vitorino, respectively.
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TIG will manage 4001 Airport Fwy. in Bedford. The 86k SF Class-B building will be managed by TIG’s Amber Davis, and Darron Hamilton will serve as the lead building engineer.
