This Week's Dallas-Fort Worth Deal Sheet: Provident Realty Advisors Buys 807K SF Office Campus
Provident Realty Advisors has acquired the newly renovated 807K SF Lakeside Campus office complex in Richardson.
Newmark represented seller Trigild in the deal for the office campus at 2201 and 2221 Lakeside Blvd. along U.S. Highway 75. The campus features a 16-story office tower and a four-story office building on an 18-acre site featuring a pond and jogging trail.
“We’re seeing ongoing demand for high-quality, well-located office properties across the Dallas metro, and Lakeside Campus is a prime example of that,” Newmark Vice Chairman Gary Carr said in a statement. “Add in the steady cash flow from existing tenants and upside potential through vacancy lease-up, it presented a solid investment opportunity all around.”
The property has seen more than $13M in property improvements since 2015, including the addition of a full-service café and a fitness center. The campus is anchored by RealPage and is 69% leased.
In addition to Carr, Newmark’s Chris Murphy, Robert Hill and Stephen Schwalb represented Trigild.
PEOPLE
Locke Lord added Clay B. Pulliam as a partner in its real estate and finance practice group. Pulliam, who is based in Dallas, joins Locke Lord from Frost Brown Todd.
***
Stream Data Centers appointed A.J. Steinbrecher to the position of vice president of location strategy and acquisitions. Steinbrecher will oversee site development and acquisition efforts to facilitate growth in key markets. Before joining Stream, he was director of land acquisition, cloud operations and innovation at Microsoft.
***
Multifamily investment management and development firm Cityview hired Quinn Konitshek as director of acquisitions in its new Dallas office. Konitshek will expand the firm’s pursuit of stabilized and ground-up acquisition opportunities in Texas, Arizona, Colorado and the entire southwestern U.S. Konitshek comes to the firm from Kushner.
SALES
Corsair Ventures sold multifamily community The Riley in Burleson to a joint venture partnership between NewStreet Properties LLC and Thane Partners. The 178-unit development was completed in 2023 and offers a dog spa and park, a wine bar and a coworking office. Cushman & Wakefield’s Grant Raymond and Asher Hall represented the seller.
***
Alterra IOS acquired the nearly 5-acre industrial outdoor storage site at 2629 Blue Mound Road W. in Haslet. The fully leased property also has nearly 22K SF of warehouse space. CRE Advising facilitated the acquisition.
***
Marcus & Millichap announced the sale of a 60-unit Dallas duplex portfolio to buyer Vault Cap. The 30 duplexes are all two-bedroom units in DeSoto, Ennis, Glenn Heights and Mansfield. The properties were built between 1983 and 2000. Fluellen-Hoover Multifamily Group’s Chris Pearson, Bard Hoover, Nick Fluellen and Garret Nelson marketed the property on behalf of the private seller and procured the buyer.
***
A Denton-based investor bought the nearly 18K SF University Lanes bowling alley at 1212 E. University Drive in Denton. Besides the bowling alley, the property also offers adaptable space. Weitzman’s Kevin Butkus and Guillermo Lopez negotiated the sale.
***
A 13K SF mixed-use property in Uptown Dallas has sold to a private investor, Marcus & Millichap announced. The three-story property at 3203 McKinney Ave. features nearly 6K SF of office and retail space and more than 7K SF of residential space. Marcus & Millichap’s Joe Santelli marketed the property on behalf of the seller, a private investor, and procured the buyer.
***
Minneapolis-based Founders Properties purchased the 122K SF distribution building Centerport 1 in Fort Worth. The property at 4401 Cambridge Road in CentrePort Business Park is fully leased to Venture Solutions. Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke and Trevor Berry represented the seller. The firm’s Rob Rubano, Max Schafer and Brian Share arranged acquisition financing.
LEASES
Law firm Paul Hastings LLP signed a prelease at mixed-use development Knox Street from the joint venture partnership of BDT & MSD Partners, Trammell Crow Co., The Retail Connection and Highland Park Village Associates. The long-term, 37K SF lease brings the 150K SF office building to 100% leased more than two years ahead of its scheduled completion. CBRE’s Trey Smith, Alexandra Cullins and Ben Davis represented the ownership group, while Paul Hastings was represented by CBRE’s Clay Hammerstein, Harlan Davis, Ken Rapp, Morgan Griffith and Phil Puckett.
***
Alcosa Flooring LLC renewed its lease for 10K SF of flex space in Commerce Flex Park in Irving. Bradford Commercial Real Estate Services’ Jason Finch and Michael W. Spain represented landlord PRE DFW Airport LLC. NAI Robert Lynn’s Kevin McGee represented Alcosa Flooring.
***
GPK Products Inc. leased nearly 32K SF of office and warehouse space in Marsh Business Park West in Carrollton. Bradford Commercial Real Estate Services’ Brian Pafford represented landlord GKI Industrial Dallas LLC, while CBRE’s John Paul Floyd represented the tenant.
***
Audio media and entertainment company Audacy and nonprofit ministry Buckner International signed leases at the 409K SF Lakeside Square office building in North Dallas.
Audacy, which owns several DFW radio brands, leased 24K SF for an entire floor of recording equipment and sound studios. Cushman & Wakefield’s Deme Mekras and Travis Boothe represented Audacy.
Buckner International will relocate from Plaza of the Americas in downtown Dallas to 20K SF in Lakeside Square during the second quarter of 2025. Holt Lunsford’s Tyler Howarth and John Armes represented Buckner International.
JLL’s Trevor Franke, Gini Rounsaville and Hudson Neuhoff oversee leasing at the property on behalf of owner Acram Group.
***
Infrastructure consulting firm Halff will take 80K SF of offices at the Galatyn Commons Office Park in Richardson in 2026 following a partnership agreement with the city. The city of Richardson will assist with tenant improvements for the office at 2380 Performance Drive as part of the agreement. Halff will stay at its current office at 1201 N. Bowser Road through 2025 while improvements are made.
***
Law firm Willkie Farr & Gallagher LLP signed a full-floor lease at The Quad in Uptown Dallas. The nearly 33K SF lease brings The Quad to 60% leased, according to a release from Stream Realty Partners. Amenities at The Quad include a gathering space with panoramic views of the city and a retail experience with seven dining venues. Stream’s Ryan Evanich and Marissa Parkin lead the leasing team for the facility. Cushman & Wakefield’s David Guion, Robbie Baty and Alexandra Boury represented Willkie Farr & Gallagher LLP.
CONSTRUCTION AND DEVELOPMENT
Asana Partners plans to redevelop The Foundry District in downtown Fort Worth into an entertainment district. Asana Partners purchased the 98K SF property in 2022 to redevelop 65K SF as an experiential destination. Work on the adaptive reuse project is expected to be done in the spring. Dallas-based design firm GFF is working on the project.
***
Lincoln Property Co. broke ground on the 312K SF Brookhollow Business Center industrial development on Empire Central Drive in Dallas. LPC will redevelop an existing truck terminal facility into two Class-A industrial buildings. Work on the project is expected to be done in October 2025. Building 1 at Brookhollow will be nearly 207K SF, while Building 2 will be more than 105K SF. Lincoln Property Co.’s Michael Peinado, Tom Kuhlmann and Gil Stroube are marketing the development for lease.
***
A groundbreaking was held for the 906K SF industrial project Ironhead Commerce Center in Northlake. Developed by Alliance Industrial Co. in partnership with Barings, Ironhead will feature four industrial buildings on a site of more than 57 acres. The buildings are designed for tenants of 40K SF to 320K SF. Stream Realty Partners’ Forrest Cook, Jeff Rein and Connor Land will oversee leasing of the property.
THIS AND THAT
Dallas-based real estate capital solutions provider Formida Capital launched this week. The firm, which is backed by funds managed by Oaktree Capital Management, offers debt, mezzanine financing and equity for real estate projects as well as other capital solutions. The firm is focused on the middle-market real estate sector.
