This Week's Dallas-Fort Worth Deal Sheet
KDC topped out at JPMorgan Chase’s new 1M SF corporate campus at Legacy West. Construction began in the first half of 2016.
The first employees will be moving in during the second half of 2017. Half of Chase’s employment in DFW, about 6,000 employees, will work at the new corporate center. HKS is the project architect, and Beck Group is the general contractor.
EXECS
Steve Gray has been named managing principal for Coldwell Banker Commercial Advisors DFW to lead expansion into the CRE sector and recruit a team of brokers for a brand-new Dallas office.
SALES
Out-of-state ownership purchased the 160-unit West Wind Apartments in Irving. The new owner will rehabilitate the property with a non-recourse bridge loan from Old Capital.
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Local ownership purchased Castle Glen Apartments in Garland. Old Capital provided the Fannie Mae loan at 80% loan-to-cost ratio that includes rehabilitation and interest-only.
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Transwestern sold a 220-unit apartment community at 1303 Audelia Road in Dallas. Creekbend Commons at Audelia is in the Richardson Independent School District and was built in 1981.
LEASES
CBRE Capital Markets’ investment properties sold Villas de la Colonia, a 143-unit multifamily community in Carrollton. Aspire Ventures purchased the asset from San Diego-based Comunidad Realty Partners for an undisclosed price. CBRE’s Chris Deuillet repped the seller.
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In the Sack is opening its second North Texas location in Sundance Square this summer. This location will have a fresh market, ready-to-eat meals, wine, beer, groceries and the first liquor offering in Sundance Square, all for takeout and delivery.
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Prologis leased 51K SF at 2890 114th St. in Grand Prairie. Stream’s Cannon Green and Luke Davis repped the landlord. CBRE’s Dan Mulford repped the tenant, Direct Warehousing.
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Commercial door company AO Inc. renewed its 53K SF lease at Valwood Centre I at 1841 Monetary Lane in Carrollton. Lincoln Property repped the landlord, Denali Texas Monetary Industrial. Stream’s Eric Crutchfield and Jeremy Kelly repped the tenant.
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CFA Cabinetry leased 51K SF at Mercer Crossing at 2250 Morgan Pkwy. in Farmers Branch. Stream’s Ryan Boozer repped the tenant.
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Texas Uptown Dog leased 7K SF at 1103 Levee St. in Dallas from Ken Vichastit. Dave Perry-Miller’s Christopher Miller repped the tenant. Mercer’s David Guinn repped the landlord.
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Coin Wrap Inc. leased 32K SF at 2200 Alberta Drive in Dallas. Mercer’s Keenen Cook repped the tenant.
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South Loop 820 purchased a 23K SF building at 5216 David Strickland Road in Fort Worth. NAI Robert Lynn's Michael Newsome and Todd Hubbard negotiated the deal.
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Frank and Frank leased 43K SF of office and warehouse space at 4401 Samuell Blvd. in Mesquite. NAI Robert Lynn’s Stephen Cooper repped the landlord, and TIG Real Estate Services’ Matthew Hickey and Kristin Grammar repped the tenant.
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DTXT leased 19K SF of office and warehouse space at 2830 Ladybird Lane in Dallas. Cole Horowitz and Chad Albert of NAI Robert Lynn repped the tenant.
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Citadel Partners repped Nice Systems Technologies in its lease of 24K SF at 2400 North Glenville Drive in Richardson. Citadel’s Scott Jessen, Andy Goldston and Mac Morse repped Nice. Cushman & Wakefield’s Trey Smith and Clint Madison repped the landlord.
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Austin-based Tacodeli will open a new location in Dallas. JLL negotiated the lease for the taco chain at The Hill Shopping Center at the corner of Walnut Hill Lane and U.S. 75. JLL’s Mark Newman and Alex Whitman negotiated the 10-year, 3K SF retail lease on behalf of Tacodeli. SRS Real Estate Partners’ Dawn Greiner repped the landlord, Capref Walnut Hill.
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Banfield Pet Hospital leased 3K SF of retail space in North Tarrant Marketplace at the intersection of North Tarrant Parkway and Precinct Line Road in North Richland Hills. NewQuest Properties’ Josh Friedlander repped the landlord in-house. Venture Commercial’s Jim Dunn repped the tenant.
DEVELOPMENT
KWA Construction completed construction of Highpoint Urban Living, a 227-unit apartment development on the site of the former Coca-Cola bottling plant in Fort Worth Medical District’s Near Southside neighborhood.
