This Week's Dallas-Fort Worth Deal Sheet
Developer CT Realty announced construction is underway on the company's fourth DFW industrial project — a logistics hub known as Westport Logistics Center in Fort Worth.
The new project is a joint venture between CT Realty and Mitsubishi’s Diamond Realty Investments.
The two-building development will offer 882K SF in Fort Worth’s Alliance submarket.
The property features two distinct distribution buildings with 677K SF and 205K SF, respectively, as well as single-sided or cross-dock loading. The property also comes with loading bays, clear heights of 32 or 36 feet, 185-foot truck courts and build-to-suit office spaces, CT said.
“This project is ideal for logistics users and is practically next door to the BNSF intermodal railyard, which handles 835,000 annual TEU lifts, plus dedicated air cargo facilities at the Fort Worth Alliance Airport,” CT partner Rob Huthnance said. “The location of an Amazon fulfillment center adjacent to our site speaks to the established location attributes of this project.”
The logistics center, which is slated for completion this fall, is being leased by CBRE’s J. Scott Moore and Bob Scully.
EXECS
Commercial real estate veterans Scot Farber and Tom Strohbehn joined Younger Partners to lead the commercial real estate firm’s new capital markets team. Both professionals joined the firm as managing principals.
The pair left Cushman & Wakefield, where Farber served as executive managing director, and Strohbehn held the position of senior financial manager with the capital markets group.
Farber and Strohbehn will help Younger Partners focus on the disposition of office and flex assets in DFW, Texas, Oklahoma, Arkansas, Louisiana and New Mexico.
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Real estate investment manager Nuveen Real Estate added Carly Tripp as chief investment officer over its U.S. investment portfolio. She will oversee investment strategies, acquisitions, dispositions, asset management and financings for Nuveen. She previously served TIAA General Account as managing director and global head of real estate and alternatives. She began her investing career at LaSalle Investment Management.
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Retail investment sales expert Jim Batjer joined CBRE Capital Markets as executive vice president. He will focus on the acquisition and disposition of large-scale retail and mixed-use developments in Texas and across the Southwest. Batjer, who will be based out of Dallas, is expected to work alongside CBRE’s Chris Corby in DFW and Houston's Mark Witcher as a member of the company’s National Retail Partners.
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JLL grew its tenant representation team this past week with the hire of Robert Blount as executive vice president. Blount has advised corporate office users during his 14-year career in commercial real estate. He is the fourth addition to JLL’s tenant representation team in the past two months. The firm added Saadia Sheikh in March, and Bret Hefton and Taylor Dickerson at the end of February.
LEASES
Seven tenants signed deals for a total of 13K SF at Republic Center, a Downtown Dallas office tower at 325 North St. Paul St. in Downtown Dallas.
Younger Partners' Trae Anderson and Kathy Permenter represented the landlord. World Affairs Council of Dallas/Fort Worth also renewed close to 8K SF and was represented by Eliza Solender at Solender/Hall.
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Dallas law firm Kane Russell Coleman Logan P.C. is moving its Dallas headquarters from Thanksgiving Tower to a renovated space inside Bank of America Plaza at 901 Main St. in Downtown Dallas. Kane Russell Coleman Logan is leasing 45K SF inside the well-known skyscraper.
JLL's Brooke Armstrong, Andy Leatherman and Maggie Birnbach represented the tenant, while Peloton’s Joel Pustmueller and Russ Johnson represented the landlord, Metropolis Investment Holdings.
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Texas Neurology inked a 15-year lease deal in 6080 NCX, a four-story office building at 6080 North Central Expressway in Dallas. The firm will occupy 40K SF on the first floor. The medical facility was previously headquartered in Lakewood and offers diagnostic services and care for patients with neurological disorders. Cushman & Wakefield's Mike Gosslee represented Texas Neurology.
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IWR North America leased nearly 13K SF at 3520 West Miller Road in Garland. Holt Lunsford Commercial’s Josh Barnes and Ben Wallace represented the landlord, TA Associates, while Chris Stout with JLL represented the tenant.
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International Paper renewed its lease of 11K SF at Northern Crossing in Fort Worth. Holt Lunsford’s Donnie Rohde and Matt Carthey represented the landlord, Windsor at Northern Crossing. CBRE's Brian Gilchrist represented the tenant.
