This Week's Dallas-Fort Worth Deal Sheet
Construction of the $50M Kubota headquarters has been completed in Grapevine.
Hill & Wilkinson General Contractors constructed the 124K SF building near State Highway 121, an adjacent 62K SF research and development facility and a parking garage. Corgan designed the buildings and CBRE was construction manager for the project.
EXECS
Carter Kendall is the newest member of CBRE’s land sales investment team in Dallas, joining Marty Neilon and David Glasscock. Kendall joined CBRE as a vice president specializing in land disposition, site selection/acquisition and advisory services in Texas.
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Kurt Griffin and Nathan Orbin joined Cushman & Wakefield as executive managing directors. They will focus on growing the firm’s industrial agency leasing business across North Texas.
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Coldwell Banker Commercial Advisors DFW added a new vice president, Ryan Crabtree. Crabtree has 12 years of experience and will focus on identifying niche data center properties nationwide for investors and users and office leasing in Dallas.
SALES
Colliers International sold University Centre at 1701 and 1801 Gateway Blvd. in Richardson. The two-building office complex totals 60K SF and was 90% leased when sold. Colliers’ John Bowles, Bruce Butler and Susan Gwin Burks repped the buyer, Symphony Gateway and CIG Retail Properties. The seller was Dallas UNC.
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VERUS Advisors’ Nathan Tune repped the seller and has negotiated the cash sale of Texas Star Assisted Living and Memory Care in Allen. The 87-unit, 95-bed facility was bought by an out-of-state buyer for its growing portfolio of senior housing assets.
LEASES
TEP Barnett USA leased 21K SF of Class-A sublease space on the 37th floor of 777 Main St. in Fort Worth. The full-floor lease runs through December 2023. Bradford’s Erik Blais and Nick Talley repped the sublessor in direct negotiations with TEP Barnett.
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ATCI Computer leased 9K SF at 3238 Towerwood Drive in Farmers Branch. Mercer’s Adam Curran repped the tenant. Brown Foley Investments repped the landlord, M2 Investments.
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Checkerprop Texas 700 106th St. leased 38K SF at 700 106th St. in Arlington to Restaurant Services. Stream’s Eric Crutchfield, Ryan Boozer and Sarah Ozanne repped the landlord. Stream’s Luke Davis and Sarah Ozanne repped the tenant.
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DRA Advisors leased 36K SF at Midpoint I-20 Distribution Center in Arlington to Sheffield Metals Cleveland. Stream’s Luke Davis and Sarah Ozanne repped the landlord. Jamie Galati with JLL repped the tenant.
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InnerWorkings renewed its 34K SF lease at 1701 10th St. in Plano. Stream’s Matt Dornak and Ryan Wolcott repped the landlord, Tenth Street Investments. Mohr Partners repped the tenant.
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JW Logistics Operations leased 21K SF of warehouse space in DFW Global Logistics Centre II at 1275 West 17th St. in DFW Airport from DFW Global Logistics Centre 2. Bradford’s Susan Singer and Centric Commercial’s Russell Todd repped the tenant. CBRE’s Steve Koldyke repped the landlord.
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TEP Barnett USA LLC subleased 21K SF of office space in 777 Main St. in Fort Worth from Trinity River Energy. Bradford’s Erik Blais and Nick Talley repped the tenant in the direct deal.
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Bisco Industries leased 19K SF of warehouse space at 4400 West Walnut Hill Lane in Irving from DFW East Logistics Partners. Bradford’s Brock Wilson, Brian Pafford and Joe Santaularia repped the landlord. Al Hildreth of Hildreth Properties repped the tenant.
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Xtreme Wheel & Tire leased 15K SF of warehouse space at 1201 Avenue H East in Grand Prairie from Criswell Properties. Bradford’s Anna Rodriguez repped the tenant. Michael Stanzel of NAI Robert Lynn repped the landlord.
DEVELOPMENT
RCP Properties and Matteo Realty Partners formed a joint venture to develop a 40-unit memory care community in Rowlett. Construction began in late March on 3.7 acres at 4906 Miller Road and will be complete in late 2017.
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Mill Creek Residential started construction on the 190-unit Modera Howell in Uptown. Mill Creek is a joint venture with Abington Properties. Construction financing was provided by Kansas City, Mo.-based UMB Bank.
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Construction begins Tuesday on the $450M Fort Worth Multipurpose Arena in the city's Cultural District. The 14,000-seat development is a public-private partnership between Fort Worth billionaire Ed Bass, the city, county, state and several foundations.
