This Week's Dallas-Fort Worth Deal Sheet: J&C Warehouse Leases New Facility In DFW
J&C Warehouse leased the Alto Intermodal 45 building at 200 W. Pleasant Run Road in Wilmer. Alto Intermodal 45 features more than 271K SF of customizable space with a 40-foot height and a cross-dock loading configuration.
“We were able to close this lease at an extremely competitive lease rate for the Wilmer market,” Colliers Vice President Ben Wallace said in a statement. “ALTO Intermodal is an example of future-thinking ownership with above standard designs for industrial space. The quick lease-up of this project provides a great testimony to how quality of design, speed to occupancy, and hustle are key to a projects’ success.”
Work on the facility was completed two months ago.
Colliers’ Wallace, Chris Teesdale and Tom Pearson represented the landlord.
PEOPLE
Stream Realty Partners promoted Craig Wilson to co-head of its national office occupier business. Wilson, who has been with Stream since 2020, will help lead the occupier services platform and drive the expansion of the firm. He will also recruit talent for the company.
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Commercial real estate developer Garfield Public/Private added Walter Peseski as senior vice president, asset management. Peseski will lead Garfield Asset Management and oversee the performance of portfolio assets in tandem with ownership and management teams. Peseski has more than 15 years of experience in hospitality and asset management, most recently with First Hospitality.
SALES
Shorenstein Investment Advisers acquired the 388K SF International Plaza II office building in Dallas. The property, which was 93% leased, features amenities such as a full-floor food hall, a coffee and wine bar, tenant lounges, and fitness and conference centers.
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Clearworth Capital sold senior housing community Firewheel Town Village in Garland to Equity Partnership Holdings. JLL Capital Markets’ David Austin, Rob Key, Greg Toro and Cole Murphy represented Clearworth Capital in the deal. The company also procured the buyer.
The 154-unit development at 5151 N. President George Bush Turnpike has an occupancy rate of more than 98% and amenities including a heated saltwater pool, full-service salon, billiards room and fitness center.
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The Lure Apartments in Uptown Dallas has sold to Phoenix-based Rise48 Equity, which plans to rename the property Rise Highland Park. Rise48 will invest more than $3.5M in interior and exterior renovations. The 144-unit property features amenities such as a pool, dog park and outdoor kitchen.
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BGO sold the nearly 75K SF retail center Skillman Live Oak in the Lakewood area of Dallas to Asana Partners in a deal arranged by JLL Capital Markets. The retail center is 77% leased. JLL Capital Markets' Erin Lazarus, Adam Howells, Megan Babovec and Ben Pollack represented BGO.
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Hawaii-based real estate investment company James Campbell Co. acquired the nearly 883K SF Westport Parkway Logistics Center in the Alliance Global Logistics Hub. The industrial properties are at 402 and 504 Westport Parkway in Haslet.
LEASES
Swig signed a ground lease with NewQuest for a nearly 33K SF retail pad site in the Lantana Town Center in Bartonville. Falcon Realty Advisors’ Michael Walters and Gabe Austen represented Swig, while NewQuest’s Josh Friedlander and Kevin Sims represented the landlord.
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Indoor playground business Kids Empire leased a nearly 11K SF of retail in the Hillside Village development in Cedar Hill. Weitzman’s Gretchen Miller, Emilie G. Paulson and Bryn Carden represented Hillside Village on behalf of Prep Property Group. Kids Empire was represented by Weitzman’s Robin Barrow and Eddie Liebman, working with E&R Property Group’s Austin Diemer and Shelby Pedroza.
CONSTRUCTION AND DEVELOPMENT
Bright Realty has opened the 147K SF office building Crown Centre II in Lewisville. The four-story, $50M building is part of the Crown Centre project that will include 3M SF of offices, 2,000 multifamily units and up to 500 hotel rooms.
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Dallas-based Mycon General Contractors Inc. has started construction on a U-Haul storage facility in Haltom City. The new location will feature a nearly 29K SF preengineered metal building for U-Haul’s U-Box storage, an almost 82K SF self-storage building and five drive-up storage buildings totaling more than 15K SF. Work on the project is expected to be completed in March.
THIS AND THAT
Liberty Capital Bancshares, the holding company for Addison-based Liberty Capital Bank, intends to merge with Southwestern Bancorp, the holding company for Texas Heritage Bank.
The merger came about because the two holding companies have common shareholders, but business will continue as usual in the markets for the respective banks. The merger is expected to close by the end of the year, subject to regulatory approval and applicable shareholder approvals.
Performance Trust Capital Partners’ Daniel T. Bass served as financial adviser, and Bradley Arant Boult Cummings’ Robert N. Flowers served as legal adviser to Liberty Capital. Holland & Knight’s Bruce Toppin served as legal adviser to Southwestern Bancorp.
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Dallas-based interior design firm B2 Design Co. was picked for Sonesta’s list of preferred interior design partners.
