This Week's Dallas-Fort Worth Deal Sheet
JPI and Bridgeview Real Estate are developing a $74M, 409-unit multifamily community in Farmers Branch.
The project has $16M in financing from a partnership between Buchanan Street Partners and CarVal Investors. The new development will rest in Bridgeview Real Estate’s Jefferson Alpha West, a more than 480K SF mixed-use development near the Galleria.
“Our investment in Jefferson Alpha West offers the opportunity to participate with a premier multifamily developer in JPI and contribute to a significant mixed-use project in the dynamic Galleria submarket,” Buchanan Street Partners partner Bob Dougherty said in a statement.
Jefferson Alpha West will be constructed in Phase 1 of Alpha West’s development.
"We value our ongoing relationship with CarVal and recognize the opportunity to achieve attractive risk-adjusted returns on this investment,” Dougherty said in a statement. “Strong regional growth paired with the merits of this project and the participants involved make this a compelling investment for Buchanan Street.”
EXECS
Younger Partners added Steve Triolet to its research team. Triolet has 18 years of experience in the industry. He previously worked for CBRE, JLL and Xceligent.
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Stan Johnson Co. opened its Dallas office. Chris Adams and Reed Hudson will run the Dallas office. Prior to joining Stan Johnson Co. Adams worked for Marcus & Millichap. Hudson is joining the Dallas branch by way of Stan Johnson Co.’s Houston office.
SALES
A local investment group purchased 711 Elm St. from a Dallas-based limited partnership. The sale includes the five-story building, 137 parking spaces in a multilevel garage and 7,200 SF of street-level retail space. Weitzman’s Matthew Rosenfeld, Mike Allen and Kevin Butkus represented the seller.
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Driversselect purchased a 73K SF facility at 2615 I-20 in Grand Prairie from AAGP LLC. Lee & Associates’ Nathan Denton represented the buyer. JLL’s Chris Gibbons, Paul Ferraro, Charlie Bernet and Melissa Holland represented the seller.
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An affiliate of Momentum Commercial Realty Inc. sold a 73K SF building at 1010 East Arapaho Road in Richardson to GBP Industrial. Stream Realty Partners’ investment sales team of Jamie Jennings, James Mantzuranis and Andrew Rabinovich, as well as Stream’s Matt Wieser, represented the seller. Joe Wilson represented the buyer.
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Lane Star Properties purchased an 82-unit multifamily community, Richland Park, in Richardson from SJR Investments. Rowan Partners facilitated the sale.
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REI Group purchased Sierra Point, a 212-unit apartment community in Irving, from MacDonald Realty Group. Rowan Partners facilitated the sale.
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Lincoln Retail Income & Growth Fund purchased Shops at Colorado, a 74K SF retail center in Denton, from RCG-Denton LLC. CBRE National Retail Partners’ Chris Gerard, Chris Cozby and Blaine Dozier represented the seller.
LEASES
Barnes & Thornburg leased 28K SF at PwC Tower in the Park District. CBRE’s Phil Puckett and Harlan Davis represented the landlord. CBRE’s Dennis Barnes, Clay Gilbert and Shannon Brown represented the landlord, Trammell Crow.
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Alston & Bird leased 36K SF at Chase Tower in Downtown Dallas. Stream Realty Partners’ JJ Leonard, Matt Wieser and Jackie Smith represented the landlord, Fortis Property Group. CBRE’s Phil Puckett and Michelle Donaldson represented the tenant.
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RR Reddy Real Estate purchased 16 acres at 1251 Harmon Road in Haslet. Stream Realty Partners’ Seth Koschak represented the buyer. Texas Business Vistas’ Jim Klein represented the seller, Richard Korman.
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AmerCareRoyal LLC leased 63K SF at Lakeside Corporate Center, 700 Lakeside Parkway in Flower Mound. Stream Realty Partners’ Blake Kendrick and Jeremy Kelly represented the landlord, RREEF. Holt Lunsford Commercial’s Jim Brice represented the tenant.
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MORSCO Supply LLC subleased 21K SF at Valwest Business Park IV, 1520 Luna Road in Carrollton, from Temperatsure LLC. Stream Realty Partners’ Eric Crutchfield represented the sublandlord.
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Hanes Industries renewed its 66K SF lease at International Airport Center, 615 Westport Parkway in Grapevine. Steve Koldyke represented the landlord, International Airport Center Inc. Stream Realty Partners’ Ryan Boozer represented the tenant.
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Adaptive Training Foundation leased 17K SF at 4125 Old Denton Road in Carrollton. Stream Realty’s Todd Noonan represented the tenant. Mushtak Khatri represented the landlord, an affiliate of the Tabani Group Inc.
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Production and Rigging Resources Inc. renewed its 49K SF lease at 4900-4930 Sharp St. in Dallas. Holt Lunsford Commercial’s Canon Shoults represented the landlord, TA.
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Felder USA leased 13K SF at 1420 Halsey Way in Carrolton. Holt Lunsford Commercial’s Andrew Gilbert represented the landlord, Red Tail Acquisitions. Stream Realty Partners’ Adam Jones represented the tenant.
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EA Engineering, Science and Technology renewed its 13K SF lease at 405 State Highway 121 Bypass in Lewisville. Holt Lunsford Commercial’s Andrew Gilbert and Clay Balch represented the landlord, Adler Realty Partners. CRESA’s Alex Coe represented the tenant.
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Enseo Inc. renewed its 27K SF lease at 1680 North Prospect in Richardson. Josh Barnes and Ben Wallace of Holt Lunsford Commercial represented the landlord, Adler Realty Partners.
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TTC Equipment & Supply LLC leased 30K SF at 800 Industrial Blvd. in Grapevine. Holt Lunsford Commercial’s Canon Shoults and Clay Balch represented the tenant. Stream’s Sarah Ozanne, Blake Kendrick and Ryan Boozer, as well as Prologis’ Mitch Pruitt, represented the landlord, Prologis.
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TBS Garage Doors renewed its 15K SF lease at 1225 Capital Drive in Carrollton. Holt Lunsford Commercial’s Clay Balch represented the tenant. Stream Realty Partners’ Corbin Stall and Eric Crutchfield represented the landlord, DRA Advisors.
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Prestonwood Landscape Services leased 24K SF at 1344 Round Table in Dallas. Holt Lunsford Commercial’s Canon Shoults, Josh Barnes and Clay Balch represented the tenant.
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Excel English Institute leased 10K SF at 1101 East Arapaho Road in Richardson. Ryan and Bell Realty Partners’ Matt Flory and Corey Wiskow represented the tenant. Scot Florsheim represented the owner, Sooner Management.
DEVELOPMENT
Liberty Property Trust initiated the third phase of GSW North. A new 172K SF facility will be built, bringing the total size of the complex to 709K SF. The new facility is scheduled to deliver in December.
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Frontera Plaza-Vista completed the construction of Frontera Plaza, a 44K SF multi-tenant retail center in Mesquite. Frontera was delivered 100% leased and is anchored by Planet Fitness, Rancho Semental and Foot Locker.
