This Week's Dallas-Fort Worth Deal Sheet

Klyde Warren Park, one of Dallas' most beloved and impactful public spaces, is expanding.

A $76M project by The Woodall Rodgers Park Foundation and VisitDallas will add a 20K SF pavilion and additional green space on 1.2 acres, completing the original vision of the park.

The pavilion will house a visitor’s center called the VisitDallas Experience Center, which will have interactive information on the history of Dallas and will give visitors and locals alike a place to pick up a jersey or VIP tickets to one of the area’s sports teams, get last-minute deals on theater seats or learn about events hosted across the city in the week ahead. The park’s expansion will “assist with the Park’s long-term financial sustainability, and allow the privately-operated park to expand the more than 1,300 free programs and events it already provides annually,” the partnership said in a statement.

Design and construction of the project are scheduled to begin in 2019, with completion anticipated as early as 2022.

The 5.2-acre, $110M Klyde Warren Park opened in October 2012 and since then has welcomed over 6 million visitors, created more than $2B in economic development and increased property value in the area around the park, according to The Woodall Rodgers Park Foundation and VisitDallas. The new phase of development will provide another $850M in stimulus to the area, HR&A Advisors President Eric Rothman said in a release about the expansion.

EXECS

Timothy Keys was named vice president of operations for MYCON. He will oversee all of MYCON’s projects from preconstruction through completion and will guide the human resources, finance and marketing groups. He has 31 years of industry experience and has worked on over $1B of construction projects.

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Drew Crawford joined Finial Group as the managing market leader in Dallas-Fort Worth, spearheading Finial’s team and overall business (investment, development, brokerage and property management) in the DFW market.

SALES

Pillar Commercial and Artemis Real Estate Partners purchased Lincoln Legacy II, a 130K SF building at 5810 Tennyson Parkway in Plano. JLL’s Jack Crews and Brad Enloe represented sellers USAA and Lincoln Property Co. The buyers got senior debt financing from MetLife, arranged by JLL’s Curtis Jaggers. The deal is the third in two years for the Pillar/Artemis JV, which bought Duke Bridges III (160K SF across from The Star) in September 2016 and 8222 Douglas Ave. in Preston Center in 2017.

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Randolf-Brooks Federal Credit Union purchased 1.7 acres in Garland at the intersection of Highway 190 and Elliott Avenue. Henry S. Miller’s Paul Vernon represented the seller, Posados Café. JLL’s Mark Newman represented the buyer.

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DA 8th LLC purchased a 1-acre pad site at 2221 Eighth Ave. in Fort Worth. Structure Commercial’s Troy Morgan negotiated the sale.

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Lacy Lane Properties Ltd. purchased an 18K SF property at 9003 Governors Row in Dallas. Mercer Co.’s Turner Petersen and Jeremy Mercer represented the buyer, and Gillis Thomas’ Kevin Conlon represented seller Cullum-Thomas #3.

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An undisclosed international buyer purchased Pioneer Crossing, a fully leased 106K SF building at 2540 East Pioneer Parkway in Arlington. CBRE’s Jared Aubrey and Michael Austry brokered.

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An undisclosed buyer purchased 9886 Chartwell Drive, a 35K SF industrial property in Dallas. TIG Real Estate Services’ Matthew Hickey and Kristin Grammar represented the seller. Beam Real Estate represented the buyer.

LEASES

Common Desk leased 18K SF in the West End’s Factory Six03. This is the second location for the six-year-old coworking company in a Granite Properties building and its sixth overall.

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Cowtown Materials Inc. leased 64K SF of warehouse space in Crosby Business Park in Carrollton. Bradford Commercial Real Estate Services’ Brian Pafford and Jason Finch represented the tenant. Holt Lunsford Commercial’s Joshua Barnes and Canon Shoults represented landlord Crosby Valwood L.P.

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Positive Marketing LLC leased 12K SF of office flex space at 11277 North Stemmons Freeway in Dallas. Bradford Commercial Real Estate Services’ Jason Finch represented the tenant, and Ground Development Co.’s Larry Bussey represented the landlord in-house.

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Southlake Town Square signed new tenants: LUSH Cosmetics, Johnny Was and TravisMathew are opening in the center in early 2019.

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TCE Interconnect LLC leased 13K SF of industrial space at 10990 Petal St. in Dallas. Troy Morgan of Structure Commercial negotiated the lease.

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Spirit Halloween leased 10K SF of retail space at 2739 West 15th St. in Plano. Structure Commercial’s Jeremy Cummings and Eric Deuillet negotiated the lease.

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Jump Mania leased 11,505 SF at 3037–3045 West 15th St. in Plano. Structure Commercial’s Jeremy Cummings and Eric Deuillet negotiated the lease.

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AWP Inc. dba Area Wide Protective leased 10K SF from Carrollton Warehouse LLC at 1401 Capital Drive in Carrollton. Mercer Co.’s Kennan Cook negotiated.

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Owens Home Furnishings leased 26K SF of retail space at 904 North Central Expressway in Plano. NAI Robert Lynn’s Andrew Shaw negotiated the transaction.

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Stream Realty Partners closed the following leases:

• MetroPCS renewed its 115,583 SF lease at Lakeside Centre II in Richardson. Stream’s Tim Terrell and Chase Lopez represented the landlord, Vereit. CBRE represented the tenant.  

• YRC Inc. subleased 76K SF at Crosby Trade Center 200 in Carrollton. Stream’s Eric Crutchfield represented the sub-landlord, Ansco & Associates LLC. Colliers International represented the sub-tenant.  

• Tricon Logistics LLC leased 67K SF at Gateway 161 Corporate Park, 4450 West Walnut Hill Lane in Dallas. Stream’s Bob Hagewood and Jeremy Kelly represented the landlord, Hines Interests, and Jackson & Cooksey’s Garrett Gibbons represented the tenant.  

• Air Mac Inc. renewed its 30K SF lease at 8820 Diplomacy Row in Dallas. Stream’s Jason Moser represented the landlord, Nelson H. Spencer.  

• JW Logistics LLC renewed and expanded its lease at Parkwood Office Center in Frisco to 27K SF. Stream’s Ryan Evanich and Chase Lopez represented the landlord, SDI-Parkwood LLC. Centric Commercial represented the tenant.  

• Rexel USA Inc. leased 22K SF at Trinity 161 Trade Center, 3100 State Highway 161 in Grand Prairie. Stream’s Luke Davis and Sarah Ozanne represented the landlord, Colony Financial, and CBRE represented the tenant.

DEVELOPMENT

Stockyards Heritage Development Co. is renovating the historic Horse and Mule Barns in The Fort Worth Stockyards. Phase 1 is $175M, including improvements to the Stockyards’ Exchange Avenue and the building of Hotel Drover, an Autograph Collection four-star boutique hotel, event barn and rustic resort at the end of Mule Alley’s planned street of shops, eateries, creative office spaces and live-entertainment venues. M2G Ventures is the retail and restaurant partner on the project and has leased 60K SF of Mule Alley’s offerings.

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Construction has wrapped on Larkspur at Twin Creeks, a 243-unit active-adult apartment complex in the master-planned community of Twin Creeks in Allen. KWA Construction, Drever Capital Management and The Alder Group built the 260K SF, four-story independent living facility.