This Week's Dallas-Fort Worth Deal Sheet
Disney Investment Group brokered the sale of two retail properties.
Inland Real Estate Group bought Sprouts Village in Denton, a new 46K SF shopping center anchored by Sprouts Farmers Market. Inland Real Estate Group’s Matthew Tice represented the owner. DIG’s David Disney and Adam Crockett brokered the sale and worked with DuWest Realty.
Disney Investment Group also closed on the sale of Midway Plaza, a 12K SF shopping center in Dallas. DIG brokered the sale to a private investor and represented the seller, a national real estate investment company.
EXECS
MYCON General Contractors named Shawn Pyatt chief financial officer. Pyatt has more than 25 years of experience in construction.
SALES
Michaelson Real Estate Group and a private equity investor acquired La Bella Palms Apartments, a 117-unit garden-style community in Dallas. The 92%-occupied project was recently repainted and got new trim and roofs.
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Miami-based One Real Estate Investment purchased the 224-unit Vibe at Landry Way at 7412 Ederville Road in Fort Worth. Marcus & Millichap’s Tommy Lovell brokered the sale with Kapp Morrison’s Stuart Kapp.
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LDW and Associates purchased a 10K SF building at 6505 Midway Road from Midway M & TP in Haltom City. Stream’s Seth Koschak and Forrest Cook represented the purchaser.
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4210 Industrial sold its 16K SF building at 4210 Industrial St. in Rowlett to J&M Pool Plastering Inc. Stream’s Ryan Boozer, Matt Dornak and Corbin Stall represented the seller. First Fidelity Real Estate Services represented the buyer.
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Carroll Development purchased a 13K SF building at 2828 West Lancaster Ave. in Fort Worth and leased it to Summit Gyms. Stream’s Luke Davis represented the purchaser and Summit Gyms. Weitzman represented the seller.
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1539 Round Table Associates sold its 8K SF building at 3422-3426 Doug Drive in Dallas to David Dennis. Stream’s Jason Moser represented the seller.
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Wellington Realty sold the 208-unit Falls Apartment complex at 9797 Bruton Road in Dallas. Wellington’s Tammy Shaffer, Ben Onderdonk and David Shaffer procured the buyer.
LEASES
The Towers at Williams Square renewed two long-term leases totaling 110K SF of office space in the Class-A towers. Franklin American Mortgage Co. renewed 58K SF, and C-III Asset Management is extending its 51K SF lease at The Towers at Williams Square in Las Colinas. The office is owned in a partnership between Vanderbilt Office Properties, Hillwood Urban and an investment fund managed by a subsidiary of Apollo Global Management.
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Opendoor Labs Inc. leased 11K SF of retail space at 5321 Mockingbird Lane in Dallas. CBRE’s Dennis Barnes, Kenzie Killgore and Clay Gilbert represented the landlord, CPUS Mockingbird L.P.
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Pediatrix Medical Group Inc. leased 19K SF in an expansion at 3001 President George Bush Turnpike in Richardson. CBRE’s Tommy Nelson and Ben Davis represented the landlord, BSP ROC LLC.
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Johnston Pratt PLLC leased 10K SF at 1717 Main St. in Dallas. CBRE’s Harlan Davis and Neal Puckett represented the landlord, K&L Gates LLP. CBRE’s Puckett, Davis and Nathan Wood represented the tenant.
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Randy’s Worldwide Auto leased 30K SF of industrial space at 1210 Avenue H in Arlington. CBRE’s Brian Gilchrist and Steve Koldyke represented the landlord, FR Massachusetts 7 LLC.
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Autobahn Freight Lines Ltd. leased 11K SF of industrial space at 827 Avenue H in Arlington. CBRE’s Brian Gilchrist and Steve Koldyke represented the landlord, First Industrial Texas.
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Stens Specialty Brands LLC leased 80K SF of industrial space at 3010 Red Hawk Drive in Grand Prairie. CBRE’s Kacy Jones represented the landlord, PPF Industrial 3010 Red Hawk Drive LLC. CBRE’s Brian Gilchrist and Steve Koldyke represented the tenant.
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Sidran renewed its 35K SF lease at Marsh Business Park West at 1050 Venture Court in Carrollton. Stream’s Eric Crutchfield represented the tenant.
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Citiquartz DFW leased 22K SF at 2474-2482 Southwell Road in Dallas. Stream’s Ryan Boozer and Todd Poticny represented the landlord, Maxcom Properties.
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Palm Harbor Homes Inc. extended its lease of 11K SF at The Spectrum at 15301 Spectrum Drive in Addison. Stream’s Ryan Evanich, Chase Lopez and Jordan McFarland represented the landlord. JLL’s Scott Collier represented the tenant.
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Devin Longmore leased 12K SF at 3811 Halifax St. in Dallas. Mercer’s Jeremy Mercer represented the landlord, KP Argon. Stream’s Hanes Chatham represented the tenant.
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Word of Faith Christian Center Church leased 14K SF at 2104 Hutton Drive in Carrollton. Stream’s Luke Davis and Mackenzie Ford represented the landlord, Roheen Real Estate. Republic Realty Advisors represented the tenant.
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El Bolero Cocina Mexicana and Pakpao Thai will open at The Woodmont Co.’s Crockett Row at West 7th later this year. The new restaurants come from Dallas-based Apheleia Restaurant Group, owned by Tiffanee and Richard Ellman.
FINANCING
Metropolitan Capital Advisors arranged debt financing for the redevelopment of Mid Elm Lofts in Dallas. MCA facilitated the $15M construction loan on behalf of Westdale Real Estate Investment and Management. MCA’s Justin Laub arranged the financing.
DEVELOPMENT
JT Philp Co. and First Preston HT broke ground on a four-story, 31K SF office on the corner of Knight and Fairmont streets in Dallas. The building, called Parkland Knight, will deliver in late summer 2018. Peloton Commercial Real Estate will lease the remaining vacancy on the second and third floors.
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Baylor Scott & White Sports Therapy & Research at The Star topped out Tuesday morning. The sports research facility will open in April 2018 at 7078 Cowboys Way in Frisco.
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Kaizen Development Partners will break ground on Netscout Allen Office at 915 Guardians Way within One Bethany at Watters Creek office campus in Allen.
THIS AND THAT
Dallas-based Xebec formed Xebec Industrial Trust, a sector-specific real estate investment entity focused on the acquisition and development of industrial properties primarily in target markets impacted by the growth of e-commerce. Xebec Industrial Trust will provide institutional, family office and high net worth investors with returns from stabilized assets. Related to the new formation, HFF arranged a $46M loan for a fully leased, seven-building portfolio of four core industrial properties of over 550K SF in Los Angeles and Chicago.
