This Week's Dallas-Fort Worth Deal Sheet
Food and beverage service company Allen Distribution signed a 349K SF industrial lease at Northport 35 Business Center at 4250 Dale Earnhardt Way in Northlake.
JLL’s Elizabeth Jones represented the tenant. Stream Realty’s Cannon Green, Bob Hagewood and Forrest Cook represented the owner, Clarion.
EXECS
Northern Realty Group hired five new realtors, including two commercial agents, Lorraine Miller and Daniel Shelley.
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Thom Ridnour joined CBRE’s office agency leasing team in Dallas as senior vice president specializing in marketing and leasing of offices in DFW.
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Cypress Equities formed a partnership with Jake Szczepanski to oversee special redevelopment projects. Szczepanski is the co-founder and former CEO of lifestyle fashion brand Billy Reid.
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David Berzina joined JLL as vice president after establishing his own economic development consulting firm and serving as the top economic development executive at the Fort Worth Chamber of Commerce for over a decade.
SALES
Irving-based Realty Capital Management sold two acres at 175 Stonebridge Lane in Southlake to Southlake Neurology & Sleep Wellness Clinic. The buyer will build a 10K SF medical office building. Realty Capital Management’s Mark Boone represented the seller. Paul Blight with Glacier Commercial represented the purchaser.
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Strive sold Chick-fil-A near White Rock Lake in Dallas. Strive’s Jason Vitorino represented the seller and the out-of-state 1031 exchange buyer. The transaction was closed all cash in four days from the signing of the contract. Additional terms of the sale were not released.
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Marcus & Millichap arranged the sale of a user/owner Valero convenience store, a 4K SF net-leased property in Arlington.
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MDBP Investments acquired Valero convenience store from Spencer Jerry L.P. at Legacy Drove and U.S. 75 in Plano. Texas Hotel Brokers’ Ryan Patterson and Phil Patterson arranged the sale for both purchaser and seller.
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Marcus & Millichap sold Miller & Sons Funeral Cars, a one-acre industrial property in Dallas. Marcus & Millichap’s Adam Abushagur listed the property on behalf of the seller, a private investor, and secured the private buyer.
LEASES
Craftwork Coffee Co. and Doc’s Records & Vintage are moving into M2G Ventures’ The Foundry District. Doc’s will open 10K SF at 2632 Wiesenberger in October. Craftwork will open its third and largest location at 212 Carroll with office suites, co-working spaces, call booths and conference rooms.
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Sophia Salon Suites & Spa leased 6K SF at 15340 Dallas Parkway in Dallas. NAI Robert Lynn’s Stewart Korte and Dan Avnery represented the landlord, Arrowrock || Prestonwood LLC. The Retail Connection’s David Levinson represented the tenant.
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Moving Office Equipment leased 8K SF at 2601 Northern Crossing Blvd. in Fort Worth. Citadel Partners’ Mac Morse represented MOE. Stream’s Seth Koschak and Forrest Cook represented the landlord in the five-year lease.
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Tuesday Morning leased 12K SF in Denton from RR Marketplace L.P. The Retail Connection’s Jeremy Zidell, Jennifer Reynolds and Kathleen Nash represented the tenant.
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Cintas Corp. leased 23K SF of office/warehouse space in the Trinity 161 Trade Center at 3100 North State Highway 161 in Grand Prairie. NAI Robert Lynn’s John Leinbaugh, Michael Stanzel and Patrick Embry represented the landlord.
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Next Gen Marketing leased 12K SF of office/warehouse space at 1209-1257 Security Drive in Dallas. NAI Robert Lynn’s Matt Elliott represented the tenant.
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Carpet & Flooring Liquidators leased 22K SF of office/warehouse space at 1501 Summit Ave. in Plano. NAI Robert Lynn’s Dave Peterson and Stephen Cooper represented the landlord.
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Gemini Rosemont Commercial Real Estate secured a long-term lease renewal for the national headquarters of the College Football Playoff at The Summit at Las Colinas at 545 East John Carpenter Freeway in Irving. Gemini Rosemont’s Kirby White represented the owner in the 10K SF lease. CBRE’s Peery Wood represented College Football Playoff.
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Rover Petroleum expanded its headquarters at Dominion Plaza at 17304 Preston Road in Dallas. Rover will occupy the entire third floor, totaling a 20K SF expansion for the company. Whitebox Real Estate’s Grant Pruitt, Evan Hammer and Kate Whalen represented Rover. Peloton’s Trevor Franke and Gini Dibrell represented the landlord.
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V-Fit Martial Arts signed a lease for 8K SF in Kennedale Town Center at 201 West Kennedale Parkway in Kennedale. Hughes Commercial’s Craig Hughes represented the landlord, Kennedale Development Partners.
FINANCING
JLL’s capital markets team, led by JLL’s Mark Brandenburg, secured acquisition financing for Sunridge Apartments, an affordable housing community in Grand Prairie. JLL arranged financing through the Freddie Mac Targeted Affordable Housing program on behalf of Sunridge 332 Partners L.P.
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A local owner refinanced the 318-unit El Sol Del Lago apartments in Dallas with a non-resource agency loan. Old Capital arranged the financing with 30-year amortization and a 12-year fixed term at 4.4%.
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Walker & Dunlop arranged an $18M loan for The Flats at Frankford Station, a Class-A, 185-unit multifamily mid-rise in Carrollton. Walker & Dunlop’s Stuart Wernick and Matt Newton placed the debt with Fannie Mae on behalf of Frankfurt Properties.
DEVELOPMENT
Best Western Hotels & Resorts broke ground on a 75-room GLō hotel at 1215 North Interstate 35 East in DeSoto that will open in May. Co-founder of Shreem Capital Jiger Patel will be the hotel’s managing director. Spirit Bank is the project’s lender.
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Alliance Architects Inc. completed the Freeman facility in Trammell Crow’s I-30 Business Park in Dallas. The 201K SF facility includes 43K SF of office space.
