This Week's Dallas-Fort Worth Deal Sheet

Transwestern’s Taylor Snoddy, Philip Wiegand and James Roberts closed transactions on 1,600 units in North Texas valued at $85M.

The deals include: 

• North Park Terrace, a 310-unit community at 8662 Park Lane in Dallas
• Pecan Tree, a 173-unit community at 3001 Kendale Drive in Dallas
• Parque Del Sol, a 200-unit community at 238 East Oates Road in Garland
• Eastfield Plaza, a 216-unit community at 2626 John West Road in Mesquite
• Woods of Ridgmar (pictured), a 235-unit community at 2200 Taxco Road and 2200 Ridgmar Plaza in Fort Worth
  
• 34 Hundred, a 484-unit community at 3400 Varsity Drive in Tyler

EXECS

NorthMarq Capital hired Carl Pankratz as vice president. Pankratz will operate out of the firm’s Dallas office and will report to Jeff Erxleben, executive vice president and regional director.

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Scott Morse of Citadel Partners/TCN Worldwide in Dallas and Ben Azulay of Bradford Allen Realty Services/TCN Worldwide in Chicago will co-chair TCN Worldwide's central region as the new regional vice presidents. Morse and Azulay will serve as advisers to the area's member firms and act as liaisons with TCN Worldwide headquarters.

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Evan Stone joined CBRE Capital Markets as senior vice president. Stone will focus on enhancing the firm’s institutional office sales presence in Texas. Stone has more than 30 years of experience in commercial real estate brokerage and investment.  

SALES 

Cushman & Wakefield closed the sale of a 47k SF office building at 17120 Dallas Pkwy. in Dallas. Cushman & Wakefield’s Beth Lambert and Diego Arroyave negotiated the off-market sale on behalf of the Loomis Agency and Carbon Cos. The sellers will continue to occupy the building as tenants.

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Dr. Lara Abitoye LLC purchased 44k SF of land at 2626 Carrier Pkwy. in Grand Prairie. Monika Guzman of Structure Commercial negotiated the sale.

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CBRE Capital Markets sold Agave Villas (above), a 94-unit multifamily community in Irving. LS Realty Advisors purchased the asset from TFG Parkside for an undisclosed price. CBRE’s Chris Deuillet repped the seller.

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Arrimus Capital acquired the Forum at Denton Station in Denton. Arrimus purchased the 1,044-bed, purpose-built student housing property at UNT for an undisclosed amount from Parkland Development. The company obtained lower fixed-rate financing through Fannie Mae’s Green Globes program.

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Venture Commercial Real Estate completed two separate transactions involving the sale of single-tenant net-leased Raising Cane’s Chicken Fingers restaurants in Weatherford and Grand Prairie. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture’s investment sales team repped the seller in both transactions.

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A local ownership group acquired Tradewind Apartments in Mesquite. Old Capital provided the long-term permanent Fannie Mae loan at 80% LTC. The 306-unit stabilized asset was acquired with one year interest-only.

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Local investors acquired Villa del Sol Apartments in Dallas. Old Capital provided a 80% LTC, 12-year, 30-year loan with one year interest-only for the 255-unit stabilized property. 

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O’Grady & O’Grady Properties sold a 103k SF industrial building at 2401 Commerce St. in Dallas to Summit Direct Mail. Transwestern’s Todd Hawpe and Clint Riley repped the buyer. 

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17250 Dallas Parkway LLC sold a 40k SF office building at 17250 Dallas Pkwy. in Dallas to Comegys Investment. Transwestern’s Jeff Givens and Alex Bryant repped the buyer.

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Westbrook Development Properties sold a 22k SF industrial building at 4130 Eden Road S. in Kennedale to Rudy and Associates. Transwestern’s Todd Hawpe repped the buyer, while Cameron Pope with Invest DFW CRE repped the seller.

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RCI Holdings sold an 11k SF retail building at 2200 Northeast Loop 820 in Fort Worth to DFJK JValso, dba FieldTech Avionics& Instruments. Transwestern’s Todd Hawpe repped the seller.

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B&B Family Partnership purchased a 38k SF office/retail building on nearly 3.4 acres at 3201 Airport Fwy. in Bedford from Aberfeldy Properties. Coldwell Banker Commercial Advisors DFW’s Renee Efimoff repped the buyer. Colliers’ Greg Hoffman repped the seller. 

LEASES

Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated two retail leases on North Coit Road in Richardson.

• Richardson Children’s Theatre Inc. leased 9k SF at 770 North Coit Road.
  
• Open Bible Fellowship Church leased 6k SF at 300 North Coit Road.

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Oscar Nails Bar leased 6k SF of retail space at 6316 Mockingbird Lane in Dallas. Structure Commercial's Jeremy Cummings negotiated.

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Peloton inked over 125k SF of deals at Plaza of the Americas:

• BDO renewed its Dallas headquarters in a 47k SF lease. Transwestern’s Sanders Thompson, Larry Serota and Phil Utigard repped the tenant.
• Allegro Development signed a 23k SF lease. CBRE’s Clay Vaughn, Josh White, Chelby Sanders and Phil Puckett repped the tenant.
  
• Saville Dodgen renewed and expanded its 18k lease. The accounting firm has been at Plaza of the Americas since 1989. JLL’s Brad Selner and Carl Ewert repped Saville.
• Westmount Realty Capital renewed its lease for 9k SF.
• McElree Smith leased 6k SF. Transwestern’s Sanders Thompson repped the tenant.
• AT&T Performing Arts Center leased 5k SF for its administrative office. CBRE’s Chelby Sanders repped the tenant.
• BloodSolutions signed a new lease for 3k SF, repped by Rubicon’s Alexis Martinez.

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Victory Temple Ministries signed a new 25k SF retail sublease at 5116 River Oaks Blvd. in Fort Worth with sublandlord Khaled Properties. Transwestern’s Jeff Givens repped the subtenant.

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Bassham Wholesale Egg Inc. signed a new 10k SF flex lease in Flex Business Park at 120 East Felix St. in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens repped the landlord, Adder Felix.

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Grant Air Conditioning Co. signed a new 7k SF industrial lease at 250 Roberts Cut Off Road in Fort Worth with Carol Barnes GST Trust UWD95. Transwestern’s Gibson Duwe repped the tenant, and Transwestern’s Todd Hawpe and Kirk Kelly repped the landlord.

DEVELOPMENT

Kaizen Development Partners closed construction financing and broke ground on Phase 1 of its upscale office park in Allen, known as One Bethany at Watters Creek. The project (rendered above) at the northwest corner of Bethany Drive and Watters Creek Boulevard was designed by BOKA Powell. The initial phase of One Bethany at Watters Creek includes a 125k SF Class-A office building with a 570-space parking garage.

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Fort Worth City Council will vote Tuesday on the incentive for Hotel Renovo, a 202-room full-service boutique hotel off Camp Bowie Boulevard that will open a few months before Fort Worth's new multipurpose arena. Illinois-based Heart of America Group plans to start construction this year on the project. It will benefit from a rebate of the hotel's 7% city occupancy tax for 16 years. The incentive is capped at $7.2M. 

THIS AND THAT

Samantha Markham was named 2016 Young Architect of the Year by the Dallas chapter of AIA. Markham is a project architect at Stantec, designing educational facilities across Texas. She co-leads the ACE North Dallas Mentor Program.