This Week's Dallas-Fort Worth Deal Sheet
KDC broke ground on a 130K SF data center in Richardson’s Telecom Corridor. The data center will be just south of KDC’s CityLine development.
The new facility, which will be at 1510 East Lookout Drive near the intersection of Plano Road and Lookout Drive, will deliver this summer.
It will feature a 190 mph, wind-resistant design, an on-site substation for uninterrupted power, short electrical feeder runs, more than 20 network fiber carriers and a 10-year, 50% city of Richardson business personal property tax abatement.
Alliance Architects is designing the project and Kimley Horn is the civil engineer, with Ridgemont as the general contractor, Telios Dallas as the mechanical and electrical engineer, and L.A. Fuess Partners as the structural engineer. KDC entered the data center market in 2007, and so far has completed 15 ground-up data center developments for enterprise and wholesale co-location customers in Texas, Virginia and Kansas.
EXECS
Rosewood Corp. has named Rick Perdue president of Rosewood Property Co. Perdue was most recently senior managing director at Mill Creek Residential, a national multifamily specialist. He also was formerly head of development and acquisitions with Dallas-based Tonti Properties.
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Admiral Capital Group hired Minnie Allison, formerly of Goldman Sachs, JP Morgan and most recently Matthews Real Estate. Allison, who will be based in Admiral's Dallas office, will be responsible for asset management of the New York-based company’s real estate portfolio.
SALES
SkyWalker Property Partners has closed on its largest acquisition to date for its value-add fund, When Opportunity Knocks, buying a 227K SF office building at 8151 LBJ Freeway in Dallas. The buyer plans to invest at least $500K into upgrading and rebranding the Class-B office building, formerly Crosspoint Atrium. Gary Walker and Clint Holland of SkyWalker Property Partners handled negotiations for the buyer of record, Crosspoint My Heart LLC. HFF represented the seller, the Credit Union of Texas, which has leased back 110K SF of its former headquarters building.
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Pillar Commercial and Ascent Real Estate Advisors acquired a 121K SF office building at 2703 Telecom Parkway in Richardson. Stream’s Jamie Jennings and Andrew Rabinovich represented the seller. In a separate deal, Jennings and Rabinovich represented a private investor in the sale of a 51K SF industrial building at 13910 Distribution Way in Farmers Branch.
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SHOP Cos.' Tommy Tucker, Tim Axilrod and Cameron Burk brokered the sale of Preston Stonebriar Shopping Center, a 27K SF, two-building retail center off Preston Road in Frisco. The property, on 3.5 acres, was completed last year.
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Henry S. Miller Brokerage's Scott Axelrod represented Bowers Homes in the purchase of an office building at 4925 Davis Blvd. in North Richland Hills. Grant Brodeur with Davidson Bogel Real Estate represented the seller, MEGMA LLC of Mansfield.
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JLL Capital Markets' Matthew Berres and Caroline Binning represented the seller of the Albertsons grocery store at 6220 Highway 287 Frontage Road in Arlington. The site includes a 63K SF retail property as well as its 6.46-acre site.
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In a sale and partial leaseback, the International Association of Venue Managers has sold the 37K SF 635 Fritz Drive in Coppell office building to one of its longtime headquarters tenants, Voxai Solutions. Bradford Commercial Real Estate Services brokered the deal.
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Suhm Spring Works acquired the 49K SF 1601 Terre Colony Court in Dallas from 1601 Terre Colony Court LLC. Mercer Co.'s Jeremy Mercer and Turner Petersen represented the buyer, while Cushman & Wakefield's Jay Lucas represented the seller.
LEASES
Shared workspace specialist Venture X has taken 30K SF at Stonebrook Business Park. The international coworking brand will open its newest North Texas location on the top floor of the building, which is in Frisco off the Dallas North Tollway. JLL brokered the deal.
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Lee & Associates Dallas/Fort Worth's Adam Graham represented Don Smith & Associates in its 46K SF lease at 14275 Welch Road in Dallas. Barry Stokes of Exeter Property Group represented the landlord, Finlayson Logistic Assets.
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Lee & Associates Dallas/Fort Worth's Ken Wesson and Adam Graham represented landlord EastGroup Properties in a 32K SF lease at 1536 Hutton Drive in Carrollton. The tenant, St. Charles Trading, was represented by Rich Young Jr. of Rich Young Co.
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Ansung USA leased 19K SF at 5200 East Grand Ave. in Dallas. Holt Lunsford Commercial's Canon Shoults and Josh Barnes represented the landlord, Frontier Equity.
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Creative Solutions renewed and expanded its lease of 12K SF at Overton Centre, Fort Worth. Holt Lunsford Commercial's Matt Carthey and Jake Neal represented the landlord, FLDR/TLC Overton Centre L.P.
THIS AND THAT
The Offices One at Frisco Station received a Wired Certified Platinum rating from WiredScore, a digital connectivity rating platform for commercial real estate. The building, which features AT&T’s 5G Evolution wireless technology, is one of only three buildings in the Dallas-Fort Worth area to achieve the distinction, which is the highest certification awarded by WiredScore. The Offices One is part of Frisco Station, a 242-acre development adjacent to the Dallas Cowboys’ World HQ at The Star.
