This Week's Dallas-Fort Worth Deal Sheet
Hunt Southwest garnered two long-term leases totaling 260K SF for Riverbend West Distribution Center.
Ecolab leased 192K SF and PODS leased 68K SF at the industrial space in Fort Worth.
“The facility’s central, accessible location in Fort Worth, combined with new-construction amenities, were a perfect fit for both Ecolab and PODS as they looked to significantly expand their footprints in close proximity to their existing operations,” Hunt Southwest Vice President Preston Herold said.
These two leases bring occupancy up to 86% at Riverbend West. One 41K SF unit remains available for lease. Though new deliveries, like Riverbend West, have pushed overall industrial vacancy up, absorption is healthy, JLL research on the industrial real estate market indicates. Major leases such as these underscore the data and bode well for landlords.
J.R. Tomlinson with Jackson Cooksey represented Ecolab. Commercial Realty Associates’ Mark DiMarsico represented PODS. Holt Lunsford’s Donnie Rohde and George Jennings represented Hunt Southwest.
EXECS
Mission Capital hired Daniel O’Donnell as managing director of sales and trading. He was previously a managing director in HFF's National Loan Sales Group.
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Prime Capital Investment Advisors hired Troy Dryer as an investment adviser at its Dallas office. Prior to joining Prime Capital, Dryer was the managing vice president of business development and client retention at Valic. In addition, he held several leadership positions at Voya Financial, Fidelity and National Benefit Services.
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JLL brought Ruth Griggs and Adam Hammack on board as vice presidents for its agency leasing team. Griggs, who was previously the leasing director at PegasusAblon,will focus on the strategic positioning of clients’ real estate assets. Hammack was senior director of the agency leasing team at Cushman & Wakefield. He will provide owner representation for existing office properties and ground-up developments.
SALES
Blackwood Developments bought The Hickory Apartments, a 68-unit apartment building at 320 South Jupiter Road in Garland. Henry S. Miller's Mark Porterfield and Robert Henry represented the seller. Blackwood Developments represented itself.
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Presidium Group bought a 343-unit apartment building, Serendipity Apartments, in Dallas. The deal was conducted off-market.
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Drury Development Corp. bought a nine-acre mixed-use tract in Arlington. Transwestern Senior Vice President Larry Jordan and Managing Director of Retail Services Steve Williamson represented the seller.
LEASES
Flix Brewhouse secured a 35K SF lease for its second DFW location. Its new site is at The Shops at Broad in Mansfield. Venture Commercial’s Chris Corbin represented the tenant. CBRE’s Andrew Lehrer represented the landlord.
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Moveworks renewed its 18K SF lease at 4647 Leston St. in Dallas. Mercer Co.’s Jeremy Mercer represented the tenant, and Lee & Associates’ Phil Rosenfeld represented the landlord, Tarrant County Properties.
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Pacific Union Financial extended and expanded its lease in Browning Place at 1601 and 1603 Lyndon B. Johnson Freeway. Pacific Union extended its pre-existing 88K SF office lease at Browning Place II and added 44K SF at Browning Place I. Pacific Union’s total footprint is now 132K SF. JLL’s Steve Thelen and Conor McCarthy represented the tenant. Transwestern’s Duane Henley represented the landlord, TCI Park West I.
FINANCING
Hunt Mortgage Group garnered an $18M Fannie Mae DUS loan for IRG MDL for the refinancing of Magnolia Creek Apartments in Dallas.
DEVELOPMENT
Nutribiotech will expand its facilities in Garland at the old Raytheon campus by 625K SF. The project is projected to cost upward of $100M and bring 1,600 new jobs to Garland.
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Oaxaca Interests is slated to redevelop the old W&B Refrigeration Service Co. warehouse at 660 Fort Worth Ave. in West Dallas into a new dining and retail space. The 10K SF space is adjacent to Sylvan|Thirty. Lake Flato Architects and Hooker Design Group will collaborate on the redevelopment design.
