This Week's Dallas-Fort Worth Deal Sheet
Kaizen Development Partners broke ground Wednesday on a 145K SF office in Allen. Netscout Systems will occupy the Class-A three-story building, which will open summer 2018. Kaizen is also developing One Bethany East next door.
Both projects share the same architects and general contractor: BOKA Powell and Balfour Beatty. JLL represented Netscout and Kaizen Development Partners.
EXECS
SmithGroupJJR, one of the nation’s largest architecture, engineering and planning firms, promoted Kevin Glasscock to science and technology studio leader at its Dallas office.
SALES
JLL is marketing the Petroleum Building and adjacent parking garage on behalf of XTO Energy. The sale of the 14-story office property and 12-story garage in downtown Fort Worth will be led by Ryan Matthews.
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Oakmont Bancshares purchased an 8K SF former freestanding restaurant building at 17808 Dallas Parkway in Dallas. Dan Avnery of NAI Robert Lynn represented the seller, and Beer Wells Real Estate's Bill Wells represented the buyer.
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Rowan Properties closed on the purchase of the 76-unit Willow Gate Apartments in Garland. Rowan Properties represented the seller and purchaser. Within one week of listing, Rowan acquired a 1031 exchange buyer offering list price.
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Strive arranged the sale of Xplor Preschool in Lewisville. Strive’s Anthony Pucciarello represented the seller, a Texas partnership, and the buyer, an out-of-state investor.
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Dallas-based LRIC LLC purchased Valley Square Shopping Center, a 107K SF community retail center at 722 and 724 West Main St. in Lewisville. Weitzman’s Matthew Rosenfeld, Mike Allen, Stephen Wise and Gretchen Miller handled negotiations as listing agents for the property.
LEASES
Healthcare staffing firm The Delta Cos. will move its headquarters to Billingsley’s Cypress Waters in Dallas, Coppell and Irving. Delta Cos. will occupy 38K SF in the latest 250K SF, five-story building on North Lake. Cushman & Wakefield’s Steve Wentz, Randy Cooper and Wills Bauer represented the tenant. Billingsley’s Marijke Lantz and Lucy Burns represented the landlord in-house.
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US Oncology renewed 21K SF at 12221 Merit Drive in Dallas. Hartman Income REIT’s Lynna Smith represented the landlord in-house. Transwestern’s Justin Miller and Kristi Torkildson represented the tenant.
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Health Texas Provider Network renewed 18K SF at 8111 LBJ Freeway in Dallas. Hartman Income REIT’s Jessica Cyphers represented the landlord, Hartman Income REIT.
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BG Staffing leased 9K SF at 14901 Quorum Drive in Addison. Citadel Partners’ Mac Morse and Taylor Dickerson represented the tenant. Stream’s Ryan Evanich and Chase Lopez represented the landlord.
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JH Kim’s White Tiger Martial Arts renewed 5K SF of retail space at 104 North Greenville Ave. in Allen. NAI Robert Lynn’s Dan Avnery represented the landlord, and Pacific Century Realty’s Cameron Mai and Alfred Goh represented the tenant.
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Stewart Stainless Supply leased 26K SF of office/warehouse space at 10425 Plano Road in Dallas. NAI Robert Lynn’s Stephen Cooper represented the tenant, and Jacob Milligan with Prologis represented the landlord.
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HomeGoods leased 23K SF at 1400 - 1800 South Loop 288 in Denton. The Retail Connection’s David Levinson and Jack Weir represented the landlord, 3503 RP Denton Crossing. CBRE’s Robert Aycock represented the tenant.
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Whistle Britches, the restaurant by James Beard Foundation award semi-finalist chef Omar Flores, leased 4K SF at The Shops at Willow Bend Restaurant District for its second location. CBRE’s Greg Pierce and Ryan May represented the tenant.
FINANCING
On behalf of Westwood Financial, HFF arranged $171M in first lien financing for a portfolio comprising 13 multi-tenant retail centers totaling 1M SF in Arizona, California, Florida, Georgia, Illinois, North Carolina and Texas, including the 48K SF Village at Preston Hollow shadow-anchored by Central Market in Dallas.
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Cushman & Wakefield arranged construction financing for Talos Holdings for The View of Fort Worth, a 300-unit community along the Trinity River. Austin-based Endeavor Real Estate Partners provided funds secured by Cushman & Wakefield’s Justin Shuart, Jason Pumpelly and Brian Park. A second phase could add 200 units, bringing the project total to 500 units.
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Berkadia negotiated $51M in financing for Discovery at the Realm, a multifamily property in Lewisville, for Bright Realty. Berkadia’s Joe Hevey and Brady Meyer secured the refinancing loan through Berkadia’s Fannie Mae program. The 10-year loan features a 4.19% fixed interest rate.
THIS AND THAT
Hartman XIX, HI-REIT and Hartman Income REIT Operating Partnership L.P. will merge into Hartman XX and operate under that banner.
CORRECTION, Aug. 15, 11:46 A.M. ET: A previous version of this Deal Sheet incorrectly listed Ashley Ward as the tenant rep in US Oncology’s renewal. The story has been updated.
