This Week's Dallas-Fort Worth Deal Sheet: Dallas Morning News Printing Facility Hits The Market
The Dallas Morning News printing facility at 3900 W. Plano Parkway in Plano is on the market for the first time in 40 years.
The 29-acre facility has printed the daily newspaper since 1983. The facility has flexible zoning, a rail spur, a looped water system and an on-site major power line with nearby substations.
“This is a true core infill property in a centralized northern Dallas market,” Foundry Commercial’s Marty Neilon said in a statement. “The features and versatility of the site are special, as is the history.”
The Dallas Morning News plans to vacate the property in Q1.
Foundry Commercial and Holt Lunsford Commercial are operating as sale agents for the owner.
PEOPLE
Dallas-based real estate development and investment firm KDC promoted Eric Hage to president. Hage has been with the company for three years and was previously executive vice president of development. He succeeds Toby Grove, who will continue as vice chairman of the company’s board of directors.
KDC also promoted Bret Creel and David Fisk to executive vice president roles from their previous positions as senior vice presidents. Creel and Fisk will now be part of the leadership team for design and construction. Information Technology Manager Richard Bryant was also promoted to vice president of IT. Bryant will use new technologies to help enhance project scheduling, procurement and communications.
SALES
Regis Berkeley A&R Properties LLC purchased a 13K SF industrial building on just under 4 acres at 7200 Midway Road in Fort Worth from RBE Midway LLC. Bradford Commercial Real Estate Services’ Chris Wong represented the seller, while the buyer was represented by Claus “Doc” Perrier of Outpost Partners LLC.
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Investment firm Stonepeak acquired 1.1M SF in the Alliance area of Fort Worth last week from institutional investors advised by J.P. Morgan Asset Management. Stonepeak’s financial adviser for the deal was JLL, while Simpson Thacher & Bartlett LLP served as legal counsel.
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Harbor Capital closed Aug. 29 on the Corbin Industrial Park in Denton. The 20-building, nearly 607K SF asset on 45 acres is Harbor Capital’s first acquisition in DFW.
Harbor Capital worked with Nineteen Blocks' Luke Burns and Michael Lohan as equity placement partners, Newmark Capital Markets' Chris McColpin as the debt sourcer and Argentic Investment Management LLC as the lender. KSR’s Steven Pollan, Joseph Kassin and Joseph Ash and Frazier Commercial Real Estate’s Don and Cole Frazier assisted with the deal. TIG Real Estate Services will handle property management for the park.
LEASES
Houston-based homebuilder Chesmar Homes leased a new regional office in Richardson. The nearly 15K SF, Class-A Collins Crossing office tower is at 1500 N. Greenville Ave. and is owned by Goldenrod Cos. Chesmar Homes was represented by Kent Smith of NAI Robert Lynn.
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As part of its addition of 11 workspace centers in Texas, International Workplace Group is adding four new DFW locations under its HQ brand. The new HQ locations, which are scheduled to open in Q2 next year, will be at:
- 13747 Montfort Drive in Dallas
- 1700 Alma Drive in Plano
- 4320 N. Belt Line Road in Irving
- 1177 Rockingham Lane in Richardson
The other new Texas locations will be in Houston, Cypress, Sugarland and San Antonio. The new locations come after IWG completed partnership agreements with the respective building owners to create the flexible workspaces.
FINANCING
Berkadia JV Equity & Structured Capital arranged equity for Pivotal Residential and Novu Residential Group to develop multifamily community Casona in Grand Prairie.
The 305-unit development will be on 18 acres of a 33-acre naturally wooded tract at 3800 Robinson Road in Grand Prairie. Amenities at the project will include a resort-style pool, outdoor kitchen facilities, a dog park and a five-hole “chip and putt” golf course. Work is expected to begin on the project this month.
Berkadia’s Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick sourced the equity from investment firm Parse Capital. Trustmark National Bank and BOK Financial co-led the debt financing on behalf of the two-bank syndication group.
