This Week's Dallas-Fort Worth Deal Sheet
Phillips Edison Grocery Center REIT II Inc. purchased Seville Commons, a 114K SF, Class-A retail center in Arlington, from an undisclosed seller.
A Walmart Neighborhood Market anchors the shopping center on the northeast corner of Collins Street and Lamar Boulevard, and the center is 95% leased with tenants Chase Bank, Chipotle, GNC and Pie Five Pizza Co. as some of its core occupants.
“The Dallas-Fort Worth market in 2017 only had 11 institutional grocery-anchored retail transactions. Given the large amount of retail in our market, this is a staggeringly low number of sales, and it highlights what a rare commodity high-quality shopping centers are in DFW,” CBRE Senior Vice President Chris Gerard said in a statement. “The buyer of Seville Commons recognized an opportunity to acquire a long-term lease with Walmart Neighborhood Market located in an area of Arlington experiencing an investment and growth renaissance.”
Gerard, along with CBRE's Chris Cozby and Blaine Dozier, represented the seller.
EXECS
IBorrow is opening a Dallas office and hired Matt Hood as vice president of originations to oversee the new office. Hood previously worked in the Real Estate Specialties Group at the Bank of the Ozarks. Hood also worked for The Rainier Cos. before joining iBorrow.
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Paul Yazbeck and Jon Krebbs, formerly of SVN, have launched a new brokerage firm, The Multifamily Group. Yazbeck, Krebbs and The Multifamily Group team will focus exclusively on the sale of Class-B and Class-C multifamily properties in Texas and the surrounding states.
SALES
SkyWalker Property Partners, dba Hangover Opportunity Fund LLC, sold a 67K SF, three-building office campus on 4.6 acres at 6301, 6321 and 6341 Campus Circle Drive E in Irving to TPS Realty LLC. Transwestern Dallas’ Matt Hurlbut represented the seller. NAI Robert Lynn’s Zack Stevens represented the buyer.
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Cherry Lane Development Co. sold 10 acres at 3000-3112 South Cherry Lane in Fort Worth to IDEA Public Schools. Transwestern’s Jack Huff and Grant Huff represented the seller. Northern Realty Group’s Will Northern represented the buyer.
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Odyssey Healthcare sold 6940 River Park Circle, a 10K SF office property in Fort Worth, to 6940 River Park Circle LLC. Transwestern’s Jeff Givens represented the buyer. JLL’s Matt Montague represented the seller.
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Wilbanks Properties sold 1.5 acres at 900 East Industrial Ave. in Saginaw to H2O Recovery. Transwestern's Todd Hawpe represented the buyer. JLL’s George Curry represented the seller.
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Mar-Lan Industries purchased a 21K SF property at 1624 West Walnut Hill Lane in Irving from Solaris Technologies. Lee & Associates’ Corbin Blount and Adam Graham represented the seller. Paladin Partners’ Trace Fielding and Greg Nelson represented the buyer.
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Sublett Crossing, a 23K SF shopping center at 6320 U.S. Highway 287 in Arlington, sold to an undisclosed local buyer in a 1031 exchange. CBRE’s Jared Aubrey and Michael Austry brokered the sale.
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Salco purchased a 12K SF industrial property at 11031 Grissom Lane in Dallas from McGray Group. Lee & Associates’ Nathan Denton represented the seller. Dunn Commercial Real Estate’s David Dunn represented the buyer.
LEASES
Robert Half leased 13K SF of office space in The Addison at 14951 North Dallas Parkway in Dallas. JLL’s Fiona Forkner and Brooke Armstrong represented the tenant. Holt Lunsford Commercial’s Holden Lunsford and James Engels represented the landlord.
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Horizon Health Corp. renewed its lease for 22K SF of office space at Waters Ridge Tech II, 1965 Lakepointe Drive, in Lewisville. Transwestern’s Randy Garrett represented the tenant. Younger Partners’ Kathy Permenter and Sean Dalton represented the landlord, FN Waters Ridge LLC.
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Tradeline Motorcars Inc. leased 16K SF of industrial space at 3222 Skylane Drive in Carrollton. Transwestern’s Brett Owens and Timothy Veler represented the landlord, Colony Northstar.
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Genessee & Wyoming Railroad Services leased 13K SF of office space at 1940 Enchanted Way in Grapevine. Transwestern’s Thomas Clarke and Timothy Veler represented the landlord, United Cellular Inc. Champions DFW Commercial Realty’s Eric Goodwin represented the tenant.
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Farmers Insurance extended its lease for 12K SF of office space in Arbors at Brookhollow, 2201 East Lamar Blvd., in Arlington. Transwestern’s Kim Brooks represented the landlord, Yacht Harbor Capital Advisors. JLL’s Jeffrey Miller represented the tenant.
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Smile Brands of Texas L.P. renewed its lease for 12K SF of office space in Tollway North Office Park at 6501 Windcrest Drive in Plano. Transwestern’s Justin Miller and Kim Brooks represented the landlord, KBS Capital Advisors. Swearingen’s Dan Paterson represented the tenant.
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CPSG Partners LLC expanded its lease to 11K SF of office space at Providence Towers, 5001 Spring Valley Road in Dallas. Transwestern’s Justin Miller, Kim Brooks and Scott Walker represented the landlord, KBS Realty Advisors. Colliers’ Jim Graham represented the tenant. Additionally, The Prudential Insurance Co. extended its lease for 6,519 SF of office space in Providence Towers. CBRE’s Robert Blount represented the tenant.
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Volkswagen Group of America Inc. renewed its lease for 52K SF of industrial space at Northbrook Center, 1001 North East Loop 820 in Fort Worth. Transwestern’s Jeff Givens and Todd Hawpe represented the landlord, Wilson & Stonaker LLC. JLL’s George Curry represented the tenant.
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International Industrial Contracting Corp. leased 17K SF of industrial space at 3201 Randol Mill Road in Fort Worth. Transwestern’s Joe Rudd represented the landlord.
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Crescent Real Estate Equities extended its lease for 11K SF of office space at 777 Main in Fort Worth, including an expansion of 1,700 SF. Transwestern’s Whit Kelly and Jason Harrell represented the landlord, F7 SSSM.
CORRECTION, FEB. 14, 10:31 A.M. CT: An earlier version of this story did not include one of the brokers in the Horizon Health lease renewal. It has been updated to include all involved parties.
