This Week's Dallas-Fort Worth Deal Sheet
Courtland Development broke ground on two new speculative industrial buildings at its 590-acre Mountain Creek Business Park. Mountain Creek 7 is 55K SF and Mountain Creek 8 is 100K SF.
The properties will be on Merrifield Road, just off Mountain Creek Parkway, and with Interstate 20 visibility. Tenants at the park include Kimberly-Clark, Ulta, Chewy, Niagara Waters and Cummins Southwest.
EXECS
Savills Studley hired Kris Knapstein to the Dallas office as a senior portfolio account manager focused on domestic and global accounts. Knapstein has more than 13 years of experience in commercial real estate.
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Lincoln Property hired Andrew Jones as senior vice president of property management. Jones will be responsible for expanding Lincoln’s commercial property management platform in Dallas, as well as leading the existing management staff and services.
SALES
Stream sold the Dallas Flex Portfolio, a collection of 18 flex office and industrial buildings totaling 509K SF in Dallas, Farmers Branch, Irving and Richardson. Stream’s Jamie Jennings, James Mantzuranis, Jeremy Kelly and Ryan Wolcott represented the seller, Elliott Management and Cienda Partners. California-based Entrada Partners purchased the portfolio and has engaged Stream to handle property management and leasing for the portfolio.
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Marcus & Millichap sold United Lynn-Conn Corp., a 15K SF industrial property in DeSoto. Marcus & Millichap’s Adam Abushagur marketed the property on behalf of the seller, a partnership. The buyer, a private investor, was secured by Marcus & Millichap’s Vincent Knipp and Ryan Wolf.
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Tabani Realty sold a 129-room Staybridge Suites in Addison. Salman Tabani of Tabani Realty negotiated the sale to an investor group from Texas.
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Strive sold a long-term ground-leased Wendy’s in Richardson. Strive’s Jason Vitorino represented the seller, a local Dallas partnership. An outside broker represented the all-cash, Austin-based 1031 exchange buyer.
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Irving-based Realty Capital Management sold 12 acres at Golden Triangle Boulevard and Katy Road in Fort Worth to Integrated Real Estate Group. Integrated Real Estate Group will build 308 residential units. Five acres are zoned for senior living, and two acres for commercial. Realty Capital’s Mark Boone represented the seller and purchaser.
LEASES
NRT Texas leased a 5K SF office building at 3910 West Interstate 20 in Arlington from Parkside 20 LLC. Coldwell Banker Commercial Advisors DFW’s Beaux Riley represented the tenant. English Realty’s Eric English represented the landlord.
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Oscar Nails leased 5K SF of retail space at 5909 Belt Line Road in Dallas. Structure Commercial’s Scott Rose negotiated the lease.
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Arclight Dallas leased 20K SF at 4834 Reading St. in Dallas from Crampton 1352 LLC. Mercer Co.’s Jeremy Mercer, Turner Petersen and David Guinn represented the landlord.
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Resort Locations Inc. leased 6K SF of retail space at 217 Harwood Road in Bedford. Structure Commercial’s Eric Deuillet and Jake Burns represented the landlord. Sam Rubenstein of Century 21 Judge Fite Company Commercial represented the tenant.
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Citadel Partners represented Mayse & Associates in the completion of an office lease for 9K SF at The Belvedere at 14881 Quorum Drive in Addison. Citadel Partners’ Taylor Dickerson and Andy Goldston and Stream’s Tim Terrell represented the tenant. Cushman & Wakefield represented the landlord.
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Able Direct Wholesale Door leased 8K SF at 1140 International Parkway in Richardson. Mercer Co.’s Jeff Mercer represented the tenant. Proterra Properties’ Mark Cullins represented the landlord, Proterra Properties Inc.
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JTM Ventures Inc. renewed 41K SF of warehouse space in GSW Distribution Center Building 29 at 417 113th St. in Arlington. Bradford Commercial Real Estate Services’ Jim Ferris represented the tenant. Mark Graybill of Lee & Associates represented the landlord, Icon Owner Pool 6 El Paso LLC.
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JTM Ventures Inc. leased 9K SF of office space in CentrePort Place II at 4300 Amon Carter Blvd. in Fort Worth from Columbia TX Amon Carter Industrial L.P. Bradford’s Jim Ferris represented the tenant. Lincoln Property’s Michael Peinado represented the landlord.
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Southern Hospitality Services leased 4K SF of office/warehouse space in Northway Plaza Bus Park at 3214 Belt Line Road in Farmers Branch from PS Business Parks L.P. Bradford’s Alejandro Rojas and Clint Manning represented the tenant. Raina Kelly of PS Business Parks represented the landlord.
THIS AND THAT
Sundance Square, a 35-block mixed-use development in Fort Worth, extended its nine-year relationship with Green Mountain Energy for another seven years to provide renewable energy for all of its 42 buildings. Sundance Square is estimated to avoid 8.4 billion pounds of carbon dioxide through 2023.
