This Week's Dallas-Fort Worth Deal Sheet

CyrusOne is moving its global headquarters to the Harwood District.

The data center development REIT pre-leased 50K SF on levels 20 through 22 at Harwood No. 10. The trophy office tower is delivering this winter with 221K SF of office and 14K SF of retail and restaurant spaces with adjacent gardens and outdoor seating. It is designed by HDF and is the 10th of 18 phases planned in the Harwood District.

Harwood International’s Hannah Waidmann and Kelly Whaley negotiated the lease with Colliers’ David Wetherington and Chelsea Story.

EXECS

Wayne Barger joined design firm SmithGroup to lead its global health practice from the Dallas office. He was previously senior vice president in CallisonRTKL’s healthcare practice group.

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Engel & Völkers is expanding in DFW. The residential and commercial brokerage franchise led by Roxann Taylor already has branches in Southlake and Flower Mound, and it hired two executives to help it open more. James Keoughan, previously with Sotheby's International Realty, joined as director of sales, and Charles Honeycutt joined as director of operations. The Jenkins Group of Sotheby's International Realty also joined Engel & Völkers in the Southlake office.

SALES

Pinnacle Owner L.P., an affiliate of Cohen Asset Management, acquired two warehouse/distribution facilities totaling 1.4M SF in Dallas. The properties, on 61 acres at 3700 and 3801 Pinnacle Point Drive, are 100% leased to two tenants that have been there 15 years. Cohen’s DFW portfolio now spans 30 buildings and 3M SF. Transwestern's Steve Rowland brokered.

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Institutional Property Advisors, a division of Marcus & Millichap, completed 24 multifamily sales throughout Texas totaling 8,972 units in the first six months of 2018. The cumulative sales price is $877M, and the team is on pace to double its sales volume from last year and set company records.The Dallas area properties are:

• Riverside Apartments, 188 units, Arlington.

• Avana Point, 324 units, Fort Worth.

• Advenir at Mansfield, 334 units, Mansfield.

• Quality Estates Portfolio, 2,048 units, Dallas-Fort Worth.

• Villas Central Park, 249 units, Grand Prairie.

• Castle Rock Apartments, 160 units, Dallas.

• The Lantern at Lake Highlands, 340 units, Dallas.

• Cantera Creek at Lake Highlands, 472 units, Dallas.

• The Vive at Lake Highlands, 248 units, Dallas.

• Churchill on the Park, 448 units, Dallas.

The transactions were closed by IPA’s Will Balthrope and Drew Kile with assistance from Joey Tumminello and Giuseppe Thum in Dallas-Fort Worth. The IPA team partnered with Marcus & Millichap’s Nick Fluellen and Bard Hoover on The Cantera Creek at Lake Highlands, The Vive at Lake Highlands, Castle Rock Apartments and The Lantern at Lake Highlands transactions. Marcus & Millichap’s Al Silva partnered with the IPA team on the Quality Estates Portfolio.

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An undisclosed local Texas investor purchased Pioneer Plaza, a 51K SF shopping center in Mesquite. The property was 85% leased at time of sale. Strive sourced the buyer and represented the seller, a group of investors from California and Canada.

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Richard A. Mitchell purchased a 15K SF industrial building at 3640 Marquis in Garland. Charles Lester Advisors’ Chas Lester represented the seller, E.E. Acklin. TIG Real Estate Services’ Matt Spellman represented the buyer.

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An undisclosed buyer purchased Villas de Estancia, a 206-unit multifamily project in Irving. Berkadia’s William Jarnagin, Jay Gunn, Tom Burns, Taylor Hill and Michael Ware brokered the deal.

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Empire Roofing purchased 4801 Esco, a 150K SF industrial property in Fort Worth. Transwestern’s Jack Huff and Grant Huff represented the seller, KBW Property Ltd.

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Fort Worth Independent School District purchased 6 acres at 4050 South Hulen in Fort Worth from Congregation Ahavath Sholom. Transwestern’s Jack Huff and Grant Huff represented the seller, and Westover Group’s Mack House represented the buyer.

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P. Lawler Enterprises purchased 631 106th St., a 42K SF flex property in Arlington, from Gyant GP. Transwestern’s Jeff Givens and Formation Real Estate’s David Barber handled the transaction.

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Armet Dale Street L.P. purchased 3.9 acres at 7601 Scott St. in White Settlement. Transwestern’s Todd Hawpe represented the buyer, and its Kyle Poulson and Jack Huff represented the seller, West Side Rec Center.

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Affordable Logistics purchased a 13K SF building with 5.8 acres at 3025 Hardrock Road in Grand Prairie. Holt Lunsford Commercial’s Thomas Grafton and Matt Carthey represented the buyer. CBRE’s Arien Ramsire represented the seller, AT&T.

LEASES

Common Desk, a Dallas-based coworking company and workday amenities provider, is opening in Downtown Dallas at Trammell Crow Center. The 52K SF coworking space will span two floors and include a private whiskey lounge and club exclusively for its members and Trammell Crow Center tenants. Scheduled to open in the first quarter of next year, this will be the fifth Common Desk location.

The Trammell Crow Center location is an operating agreement between the owner, institutional investors advised by J.P. Morgan Asset Management, and Common Desk. Common Desk will work with the Stream Realty Partners leasing and management team to offer new workspace inventory to companies at or considering the 1.2M SF property. The two teams will work together to attract users to the new Common Desk enterprise suites.

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Rexel USA leased 12K SF at 716 South Greenville Ave. in Allen. Lee & Associates’ Brett Lewis and George Tanghongs represented the landlord, GreenTech One L.P. CBRE represented the tenant.

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Hobart AVL & Event Rentals dba Time Matters Entertainment leased 10,500 SF at 2840 Guilder Drive in Plano. Lee & Associates’ George Tanghongs and Brett Lewis represented the landlord, and NAI Robert Lynn’s Tyler Tillery represented the tenant.

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Tire Profiles Inc. signed a 16K SF renewal and expansion, adding 5,602 SF of flex space at 3060 Story Road in Irving. Bradford Commercial Real Estate Services’ Michael Spain represented the landlord, Americo Story, in the direct deal.

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JW Logistics has renewed 11K SF in Parkwood Office Center, 3801 Parkwood Blvd. in Frisco. Bradford Commercial Real Estate Services’ Susan Singer represented the tenant. Stream Realty’s Ryan Evanich and Chase Lopez represented the landlord, SDI Parkwood LLC.

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Coldwell Banker Residential Brokerage leased 10K SF of office space at Cedar Ridge Office Park in Southlake. Tenant Real Estate Advisors’ Josh Bryan represented the tenant, and Holt Lunsford Commercial’s Geoff Shelton and Marshall Mays represented the landlord.

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Obstacle Warrior Kids leased 16K SF at Gateway Plaza in Southlake. The Retail Connection’s David Levinson and Jack Weir represented the landlord, RPAI. NAI Robert Lynn’s Chad Albert and Shops Cos.’ Josh Beliak represented the tenant.

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Sunrun Inc. leased 16K SF at 2940 North State Highway 360 in Grand Prairie. Holt Lunsford Commercial’s Canon Shoults represented the landlord, Rialto Capital. Colliers’ Will Haynes represented the tenant.

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Cowtown Materials Inc. leased 64K SF at Crosby Business Park in Carrollton. Holt Lunsford Commercial’s Josh Barnes and Canon Shoults represented the landlord, Frontier Equity. Bradford Commercial’s Brian Pafford and Jason Finch represented the tenant.

FINANCING

Eastern Union's Marc Belsky arranged financing for Ashcroft Capital's purchase of Magnolia Creek, a 430-unit apartment community at 7272 Marvin D. Love Freeway in Dallas. Arbor Realty Trust funded the $24M acquisition loan.

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JLL Capital Markets’ Mark Brandenburg led a team that secured acquisition financing for Westview Apartments on behalf of Frontline Holdings, which purchased the property from InterCapital. Westview is a 334-unit apartment community at 201 West Southwest Parkway in Lewisville. Voya Financial provided the loan.

DEVELOPMENT

JPI is adding 416 apartment units at Jefferson Mercer, which already has 424 units. The community in Farmers Branch began construction of Phase 1 in January 2017. Comerica Bank is the lender for the project, while CrossHarbor Capital Partners serves as equity partner.

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Wynne/Jackson and Balfour Beatty Campus Solutions finished the second phase of Northside, a mixed-use project providing housing and amenities to students at the University of Texas at Dallas. The second phase brings its capacity to 1,500 students by developing 900 more beds in a mid-rise apartment project and townhomes.

Key participants in the Northside Phase 2 development include lead equity partner Star America and the overall design-build team headed by Andres Construction featuring lead design firm Architecture Demarest, landscape architect TBG Partners and interior designer Keaton Interiors. Balfour Beatty Communities will continue to provide residential leasing and management services for the Northside development, while Wynne/Jackson will continue to provide leasing and management services for the retail components and asset management of the property.

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Garland approved an expansion of Digital Realty’s data center campus northeast of the intersection of Campbell Road and the President George Bush Turnpike. The first phase was $1B on 47.5 acres, and the new phase will add 16 acres and $400M of investment. The campus will be developed over a 20-year period to bring it to more than 160 megawatts of IT load. Phase 1 will be operational by late 2021; the 1.4M SF data center campus is being built in five phases, each adding 280K SF and 32 MW.

THIS AND THAT

The Fort Worth office of Holt Lunsford Commercial took over the leasing and marketing assignment for The Landmark in Arlington, a 65K SF Class-B office building at 2201 North Collins St.

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McCarthy Building Cos. hosted a supplier fair to expand its industry relationships with minority-owned construction suppliers. The fair encompassed commercial construction-related trades, and suppliers had the opportunity to learn about construction opportunities at DFW Airport, Texas Woman’s University, Parkland Hospital District and more. Advocacy groups at the supplier fair included the Asian American Contractors Association, Regional Black Contractors Association, Regional Hispanic Contractors Association, National Association of Minority Contractors and DFW Minority Supplier Council.