This Week's Dallas-Fort Worth Deal Sheet
Mercedes-Benz Financial Services broke ground on its 200K SF build-to-suit facility at Alliance Texas in North Fort Worth. The new building will serve as Mercedes-Benz Financial Services’ national business operations center.
“Texas has played an important role in our history, and we are excited to continue and grow our presence in this great state with a new contemporary, technologically advanced operations center,” Mercedes-Benz Financial Services President and CEO Peter Zieringer said. “The new facility enhances our ability to provide a dynamic atmosphere that inspires and excites our employees.”
Designed by BOKA Powell, the building will incorporate sustainable features such as daylighting and drip irrigation for the grounds to remain in line with Hillwood’s design principles.
“Each project Hillwood develops is carefully crafted to maintain the property’s natural beauty while simultaneously protecting the native surroundings,” Hillwood President Mike Berry said. “The Mercedes-Benz Financial Services’ new facility exemplifies our core value of creating a sustainable development and enhances the quality of life for employees.”
Construction on the project is scheduled to finish early next year.
EXECS
Bayside District Partners made Tom D’Alesandro the lead developer for Bayside, its property on the shore of Lake Ray Hubbard. D’Alesandro has more than 25 years of experience in the industry and has overseen 60 projects in various asset classes totaling 17M SF across the nation.
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Cresa DFW hired Greg Spitler as principal, Jay Neikirk as vice president, Machera Usrey as senior vice president and Cassie Watts as vice president to work in its new office space at Pinnacle Tower.
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Stantec hired Robert Lesnau as a mechanical team leader in the firm’s Texas Buildings group. Lesnau has been in the industry for more than 18 years.
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Crescent Real Estate hired Julie Young back to the position of general manager of The Crescent. Young has 24 years of experience in commercial real estate and is a board member of the Building Owners and Managers Association Dallas. Prior to rejoining Crescent, Young was an associate director at CBRE.
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Atlantic Hotels Group hired Anthony Baxter as general manager of AC Hotel Dallas by the Galleria and Brian Tigner as general manager of Residence Inn Dallas by the Galleria. Baxter has been in the hospitality industry for 25 years at Hilton Dallas Lincoln Centre, and Tigner has 15 years of experience with Marriott and Hilton properties.
SALES
A local investment partnership purchased Oak Creek, a 464-unit community at 1611 Oak Creek Lane in Bedford, and Oakland Hills, a 332-unit property at 807 The Heights Drive in Fort Worth. Transwestern’s Taylor Snoddy, Philip Wiegand and James Roberts represented the seller, Madera Residential.
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A West Coast partnership purchased Ivanhoe Apartments, a 197-unit community at 8900 Park Lane in Dallas. Transwestern’s Taylor Snoddy, Philip Wiegand and James Roberts represented the undisclosed seller.
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A private investor purchased Candlelight Park, a 128-unit community at 1407 Acton Ave. in Duncanville, for an undisclosed amount from an undisclosed seller. Transwestern’s Taylor Snoddy, Philip Wiegand and James Roberts represented the seller.
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Private investors purchased LaDonna Place, an apartment community with 124 units at 2612 Southwest Parkway in Wichita Falls. Transwestern’s Taylor Snoddy, Philip Wiegand and James Roberts represented the seller, The Medve Group Inc.
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An investment partnership purchased Hulen Park Place, a 100-unit community at 3602 Eldridge St. in Fort Worth. Transwestern’s Taylor Snoddy, Philip Wiegand and James Roberts represented the seller.
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Concord Capital Partners purchased the Kerr Industries facility, a 50K SF industrial property at 1101 North Great Southwest Parkway in Arlington. Transwestern’s Steve Rowland represented the seller, DCT Industrial. Westway Realty’s Carter Fournier and Benton Rutledge represented the buyer.
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An investment partnership purchased Linbrook Apartments, an 86-unit community at 531 Bedford Road in Bedford. Transwestern’s Taylor Snoddy, Philip Wiegand and James Roberts represented the seller, Brigelle Bedford Holdings.
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2920 Sullivan LLC dba EcoView Homes bought an 11K SF property at 2920 Sylvan Ave. in Dallas from M&S Investments Partnership. Davidson Bogel Real Estate’s Scott Lake represented the buyer, and Mercer Co.’s David Guinn represented the seller.
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Greystone Real Estate Advisors sold the Grand Brook Portfolio, which included three Class-A memory care communities totaling 114 units in the Dallas-Fort Worth area to Invesque Inc. on behalf of an institutional private equity group. Greystone’s Cody Tremper and Mike Garbers represented the seller.
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Fort Capital purchased 175-213 Bear Cat, a 43K SF industrial property at 175 Bear Cat Road in Aledo. Transwestern’s Jeff Givens and Todd Hawpe represented the buyer. Formations Real Estate’s Robert Sawyer and John Jinx represented the seller.
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Fossil Creek Realty Inc. sold 5250 Campus Drive, a 4.2-acre site in Fort Worth, to Cidema Three L.P. Transwestern’s Jeff Givens and Todd Hawpe represented the buyer. W. Martin & Co.’s Will Martin represented the seller.
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1006 Pamela LLC sold 1006 Pamela Drive, a 10K SF industrial property in Euless, to Complete Maintenance Inc. Transwestern’s Jeff Givens represented the seller.
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M.B. AV Inc. purchased a 14K SF building at 1111 111th St. in Arlington. Troy Morgan of Structure Commercial negotiated the sale.
LEASES
Sunrise Wood Designs LLC leased 135K SF at 8801 Autobahn Drive in Dallas. Holt Lunsford Commercial’s Canon Shoults and John Gorman represented the landlord, TA Associates. CBRE’s Michael Chiocca represented the tenant.
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OMG Thermoforming Inc. leased 12K SF at 3407 Ave. D in Arlington. Holt Lunsford Commercial’s Canon Shoults and Clay Balch represented the landlord, ATCAP Partners. North Pointe Commercial Realty Services’ Kurt North represented the tenant.
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AAA Candle Supply Inc. expanded into 12K SF at 10460-10474 Brockwood Road. Holt Lunsford Commercial’s Josh Barnes and Ben Wallace represented the landlord, Taurus Investment Holdings LLC. ESRP’s Barret Bufkin represented the tenant.
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Pratt Corrugated Holdings leased 60K SF of industrial space at 15000 Grand River Road in Fort Worth from FRAPAG Riverpark DFW LLC. Lee & Associates’ Tom Walrich and Reed Parker represented the landlord. JLL’s Michael Swaldi and Craig Phelps represented the tenant.
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North American Sealing Solutions leased 22K SF of industrial space at 4116 Cockrell Ave. in Fort Worth. Transwestern’s Jeff Givens and Todd Hawpe represented the landlord, AQUILA Commercial LLC.
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Bassham Wholesale Egg Co. renewed and expanded its lease for 16K SF of industrial space at 110 East Felix St. in Fort Worth. Transwestern’s Jeff Givens and Todd Hawpe represented the landlord, Adder Felix L.P.
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Winston Water Cooler L.P. leased 10K SF at 4910 Rondo Drive in Fort Worth from Knopf Family Two L.P. Mercer Co.’s Brent Landfried represented the landlord.
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Doskocil Manufacturing Co. renewed its lease for 52K SF of industrial space at 600 109th St. in Arlington. Transwestern’s John Brewer represented the landlord, Prologis.
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United Capital extended and expanded its lease for 39K SF of office space at 125 at Water Street, 125 East John Carpenter Freeway, in Irving. Transwestern’s Matt Hurlbut and Nathan Durham represented the landlord, KBS Capital Advisors. Price Commercial Real Estate’s Jeff Price represented the tenant.
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Oceus extended its lease for 16K SF of office space at Cascades at The Colony, 5916 Stone Creek Drive in The Colony. Transwestern’s Joe Whitmer, Nathan Durham and Emily Rankin represented the landlord, Cascades by Windsor LLC. JLL’s Steve Thelen and Scott Hage represented the tenant.
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Queen’s Beauty leased 10K SF of retail space at 3030 North Josey Lane in Carrollton. Structure Commercial Eric Deuillet negotiated the lease.
DEVELOPMENT
MYCON General Contractors broke ground on a 57K SF manufacturing facility for DynaEnergetics in Blum. The plant is slated to deliver in the middle of this summer. Arch11 is the design architect, and BWG Architecture is the architect of record for the project.
THIS AND THAT
Hill & Wilkinson General Contractors completed the $20M renovation of 1217 Main St. in Dallas. The 28K SF downtown building has been under construction for the last year. The original building was built in 1958, and its last major renovation was in 2008.
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GroundFloor Development purchased 2.7 acres on West Davis Street in Oak Cliff. The tract is one of the largest contiguous vacant sites left in the area. The property is zoned for 20 townhomes and a five-story apartment project with space for ground-floor retail. Transwestern’s Steve Williamson and Ben Coffee represented the buyer and the seller.
FINANCING
Hall Structured Finance II LLC opened a Reg. A Debenture offering. The company is trying to raise $50M in investments to meet demand for construction financing.
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HFF secured financing for the development of SkyHouse Frisco Station, a 332-unit, 25-story, Class-A high-rise apartment community in Frisco. HFF secured financing for the developer, a partnership between Novare Group and Batson-Cook Development Co. with a construction loan through BBVA Compass Bank and Trustmark Bank and joint venture equity through an investor advised by Stockbridge Capital Group.
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Walker & Dunlop secured a Fannie Mae Green Rewards loan for the acquisition of Las Terrazas, a 230-unit multifamily property in Dallas. Walker & Dunlop’s John Hinder and Andrew Tapley handled the transaction for the borrower.
