This Week's Dallas-Fort Worth Deal Sheet
Garland approved a deal with Germany’s Kirchhoff Automotive to expand to 115K SF at 3901 West Miller Road.
The deal is an expansion from 94K SF in the property and includes a $20M investment into the acquisition and installation of new machinery and equipment at the facility.
The expansion/relocation will begin in April, and Kirchhoff will be fully operational in 2020. The growth is driven by the company tackling the development and production of new vehicle models — its 200 local employees currently produce parts for SUVs by Chevrolet, GMC and Cadillac and ship them to General Motors plants. Kirchhoff first entered Garland in 2012 under the company name Van-Rob.
“We have enjoyed being in Garland for numerous reasons. We looked at different facilities in the area for this exciting expansion project, but it made the most sense for us to stay and expand in Garland,” Kirchhoff Automotive plant manager Marco Garza said in a news release. “The local community college is able to help us to re-train our employees and the local support we are able to receive is a key to our continued success.”
SALES
Origin Investments — through its Fund III — purchased The Gables Highland Park, a 112-unit property it is renaming Alto Highland Park. It will invest in capital improvements at the property, which already has larger-than-average unit sizes and high barriers to entry and is 90% leased. The seller, Clarion Partners, was represented by ARA, A Newmark Company.
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Trinity Bluff Hospitality purchased 1.5 acres in the Trinity Uptown area of Downtown Fort Worth. Land Advisors Organization’s Austin Reilly represented the seller, Trinity Bluff Development Ltd. The buyer plans to construct an approximately 100-key Avid hotel, a newer International Hotels Group concept.
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Roane Property Holdings purchased the 40K SF Texas Capital Center on 3.7 acres at 1325 Capital Parkway in Carrollton. Bradford Commercial Real Estate Services’ Brian Pafford represented the seller, Riverfront Properties. Henry S Miller’s Huntley Luna represented the buyer.
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SPI Advisory purchased Monticello Oaks, a three-story, 63-unit townhome complex in Fort Worth. Institutional Property Advisors’ Will Balthrope, Drew Kile and Joey Tumminello represented the buyer and the seller, Venterra Realty.
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An undisclosed local investor purchased COL-MET, a 112K SF industrial property at 3333 Miller Park South in Garland. Marcus & Millichap’s Adam Abushagur marketed the property.
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CMK Properties purchased a 45K SF medical office building in Hurst, the company’s first acquisition in the DFW metro. Welltower’s Karen Darcangelo will manage and Vision Commercial will lease the property, which CMK will renovate.
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Trinity Powder Coatings purchased 2 acres at 2820 Industrial Lane in Garland. Lee & Associates’ Taylor Stell, Nathan Denton, Brett Lewis and George Tanghongs brokered the deal. The seller was CDR Machine & Fabricating.
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Pathways Anesthesia Institute purchased a 20K SF building at 410 South Central Expressway in Allen. Lee & Associates’ George Tanghongs and Brett Lewis represented the seller.
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An undisclosed foreign national syndicate purchased Gaston Portfolio, a 59-unit apartment property in Dallas, east of Fitzhugh toward Lakewood. Marcus & Millichap’s Stephen Crittenden represented the seller. The buyer intends to convert the Class-C property to Class-A.
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ML Realty Partners purchased an 81K SF Class-A industrial building at 2908 Commodore Drive in Carrollton. Hudson Peters Commercial’s Michelle Hudson and Tom Hudson represented the seller and will lease the building for ML Realty Partners.
LEASES
Waterfall Group renewed 22K SF of office/warehouse space at 2140 Hutton Drive in Carrollton. Bradford Commercial Real Estate Services’ Brian Pafford represented the landlord, Dring Air Conditioning & Heating. NAI Robert Lynn’s Jim Svidron represented the tenant.
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Norma Stones Home Decor and More leased 34K SF at the Diamond Oaks Shopping Center at 4104 Denton Highway in Haltom City. It will open Dec. 1. Vision Commercial’s Mike Tran represented the landlord, SVP MDO LLC. The tenant was self-represented.
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Texas Recycling/Surplus Inc. leased 36K SF at 5200 East Grand Ave. in Dallas. Holt Lunsford Commercial’s Canon Shoults and Josh Barnes represented the landlord, Frontier Equity. ESRP’s Jim Hazard represented the tenant.
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Milestone Electric expanded to 24K SF at 1920 Hutton Court in Carrollton. Holt Lunsford Commercial’s Andrew Gilbert represented the landlord, Frontier Equity. David Rouble Brokerage’s David Rouble represented the tenant.
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Spray Equipment & Service Center Inc. leased 10,500 SF at 14805-1481 Trinity Blvd. in Fort Worth. Holt Lunsford Commercial’s Canon Shoults represented the landlord, AEW Capital Management, and his colleague Clay Balch represented the tenant.
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Alliance Glazing leased 137K SF at 2901 West Kingsley Road in Garland. JLL’s Chris Stout and Randy Touchstone represented the landlord, STAG. Lee & Associates’ Nathan Denton represented the tenant, which will relocate here from Las Colinas on Nov. 1.
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REV Robotics leased 18K SF at 1621 West Crosby Road in Carrollton. Mercer Co.’s Corby Hodgkiss represented the tenant, and Cushman & Wakefield’s Mark Collins and Shannon Johnston represented the landlord, W.E. Imhoff & Co. dba Intertech Flooring.
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EJES, a minority-owned civil engineering and land development firm, is relocating its HQ to 17K SF in North Central Plaza III, at 12801 Central Expressway. NAI Robert Lynn’s Kent Smith represented the tenant. The deal is a 15% expansion on its previous HQ space.
DEVELOPMENT
The Historic Auction Arena building in the Fort Worth Stockyards area is being adapted into a broadcast studio. Commerce Construction is the general contractor, Bennett Benner Partners is the architect and JQ is handling structural engineering services. The 7,600 SF space is becoming Rural Media Group’s new RFD-V multimedia broadcast studio, which will open in the spring.
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Ascend Partners and Civitas Senior Living broke ground on The Grandview of Chisholm Trail, a 70K SF senior housing property in Southwest Fort Worth with 16 memory care apartments and 67 assisted living units. Sage Development Group, Arrive Architecture Group, Senior by Design and Ridgemont Contractors are on the development team. The property will open in November 2019.
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Realty Capital Partners and Slate Properties entered into a JV to develop Fitzhugh Flats, a boutique ground-up multifamily development in East Dallas. The three-story, 70-unit project is at 1500 North Fitzhugh Ave. Units will average 615 SF and most will cost less than $1,300/month to rent. Most first-floor units will have private yards, and upper levels will have private balconies. Verge Construction is handling construction; the property is expected to open in late 2019.
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Lee & Associates Dallas/Fort Worth’s Adam Graham, Trey Fricke and Corbin Blount were awarded marketing of Valwood Logistics Center, a development by Panattoni Development Co. The 152K SF Class-A warehouse/distribution center with 32-foot clear heights is being built on 12 acres at 13330 Senlac Drive in Farmers Branch. It will deliver in January.
THIS AND THAT
BBG, a Dallas-based national commercial real estate valuation, advisory and assessment firm, acquired HCP Advisors, an Austin-based commercial real estate valuation and advisory firm. Terms of the acquisition were not disclosed. BBG has 28 offices nationwide and is growing rapidly. HCP Advisors founder Christopher Harman was named senior managing director of BBG’s Austin office.
CORRECTION, SEPT. 27, 3:25 P.M. CT: An earlier version of this story had Huntley Luna's name and company wrong. It has been updated.
