This Week's Dallas-Fort Worth Deal Sheet: Bridge Labs Opens At Pegasus Park In Dallas

Officials opened the 135K SF laboratory and office space Bridge Labs at Pegasus Park on Monday. Bridge Labs is designed for young or established biotech-related companies. 

“Bridge Labs at Pegasus Park provides companies with the ability to grow their businesses, add members to their staff, and increase their footprint without having to leave the Pegasus Park campus,” J. Small Investments President Steve Davis said in a statement, adding the addition would help grow “our region’s rapidly-growing life sciences ecosystem.” 

Two adjoining buildings were renovated for the facility, which also includes the 37K SF coworking lab and office facility BioLabs Pegasus Park.

Bridge Labs was co-developed by Montgomery Street Partners and J. Small Investments. Perkins & Will was the architect, while Swinerton was the contractor, with support from Project Management Advisors. JLL is the project’s leasing agent. 

PEOPLE

Colliers added Fletcher Cordell as senior vice president in its Dallas office. With 25 years of experience, Cordell will add to the firm's investor services capabilities in the Metroplex. Cordell was most recently with CBRE. 

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Hyosung Americas promoted Nancy Gail Daniels to chief operating officer. Daniels, who was chief revenue officer, has more than 50 years of experience. In her new position, Daniels will lead operations and procurement in addition to her continued duties overseeing revenue generation.

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Jill Hudkins was appointed CEO of AECOM’s new water and environment advisory global business line. Hudkins spent more than 25 years with Tetra Tech, most recently as president.

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Mixed-use investor and developer Trademark Property Co. hired Lance Taylor as senior vice president of development and Blake Bickmore as vice president of development. The new team members will be responsible for helping grow Trademark’s pipeline of retail and mixed-use developments. Taylor was previously with Newmark Merrill Cos., while Bickmore was most recently with Crescent Communities. 

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Edge Realty Partners promoted brokers Andrew Shaw and Ryan Griffin to principals in the firm’s Dallas office. Griffin has more than 20 years of experience, while Shaw closed more deals over the past two years than any other broker with the firm.

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Stream Realty Partners promoted Randy Cooper to executive vice chairman and partner. In his new role, Cooper will help with the expansion of the company’s national office tenant representation practice and continue helping oversee the office tenant representation division for North Texas.

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Developer Hillwood Communities announced the Oct. 1 appointment of Mark Meyer as director of planning and innovation. Meyer was previously with TBG Partners, where he spent more than 20 years. In his new position, Meyer will oversee land planning and introduce concepts for future developments.

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Transwestern Real Estate Services hired Philip Wiegand as managing director. With more than 17 years of experience, Wiegand will be working in the multifamily investment sales sector.

SALES

Bridge Cap Partners sold a 4-acre parcel at 2525 Handley Ederville Road in Fort Worth to G-Catch LLC. Younger Partners’ Michael Ytem represented Bridge Cap Partners and negotiated the sale. Stream Realty Partners’ Forrest Cook represented the buyer.

The site, which is zoned as a business park, held a 150K SF structure that was razed following a fire in 2021. Cook said G-Catch will build flex and retail buildings at the property.

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Real estate brokerage firm Marcus & Millichap announced the sale of the nearly 40K SF Prestonwood Court I retail center at 15340 Dallas Parkway in Dallas. The fully leased retail center was marketed by Marcus & Millichap’s Phillip Levy. 

LEASES

Weitzman will serve as retail leasing agent for entertainment venue The Hub in Allen. With an 18K SF plaza and lawn space, the venue will offer a concert stage and 30-foot jumbotron in addition to retail and restaurant space. A 15K SF dining pavilion will be shared by all concepts at The Hub. Weitzman’s Maggie Hansen and Addison Gragson will serve as the project’s leasing agents. 

CONSTRUCTION AND DEVELOPMENT

Multifamily community The Oliver is now leasing in the East Village area of Dallas through StreetLights Residential and Mitsui Fudosan America. As the first phase of The Central, a 27-acre mixed-use development, The Oliver features 351 luxury apartments. When completed, The Central, which is being overseen by De La Vega Development, will offer more than 4M SF of office, residential and retail space in addition to a central park. StreetLights Creative Studio is the project’s architect, while SLR Construction LLC is the general contractor. 

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Indoor pickleball club franchise Dill Dinkers will open at 320 E. Main St. in Crowley in October. The 21K SF club will offer eight courts, a pro shop, a ball machine and event space. Dill Dinkers Regional Developer Justin Goehring is overseeing the development.

FINANCING

The 427-key Los Colinas resort The Ritz-Carlton Dallas had $210M in refinancing arranged by JLL’s hotels and hospitality group. JLL secured the loan through Marathon Asset Management on behalf of the borrower, a joint venture between Partners Group and Trinity Investments. The nearly 17-acre hotel underwent an extensive renovation that began in May 2023. JLL’s Kevin Davis, Mark Fisher, De’On Collins and Caleigh O’Connell worked on the deal.

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Lone Star PACE arranged $3.5M in Commercial Property Assessed Clean Energy financing for sustainable building renovations at the 263K SF Meadow Park Tower in Dallas. Following a 2016 renovation, the nearly 40-year-old office building saw Bradford MPT Partner begin another renovation in 2022 that installed energy-efficient windows and walls, LED lighting, upgraded HVAC systems and low-flow plumbing. Bayview PACE was the capital provider for the project.

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Nearly $33M in construction debt financing, complemented by $16.7M in C-PACE financing, was arranged by Concord Summit Capital’s Robert Horton for the development of a 67-unit garage condominium project in north Dallas. The 225K SF mixed-use facility will be part of a Garages of America development and feature luxury garage suites, showrooms, offices and warehouse flex units.

THIS AND THAT

Basketball-themed entertainment company JumpShot Inc. plans to open its headquarters in Dallas ahead of its first JumpShot Live location opening in 2025. The approximately 50K SF entertainment venue will offer a full-service restaurant and sports bar as well as offering 50 custom-designed gaming bays at a yet unspecified location. Former NFL player Derrick Mayes will be JumpShot Inc.’s CEO, while Brian Birckbichler will be president and chief operating officer. 

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Lowe’s Home Improvement plans to open a 94K SF store at The Crossing at Moore Farms in Celina. The nearly 14-acre property is expected to close in February, while Lowe’s expects to be operational in the first quarter of 2027. The store will create 120 full-time jobs for the city, according to the Celina Economic Development Corp.