This Week's Dallas-Fort Worth Deals
The Carlyle Group with Greystar purchased a 101-unit senior living community, MirAvanti at Ridgmar, in Fort Worth for $22M.
Greystone Real Estate Advisors managing director Cody Tremper handled the sale. The newly constructed age-restricted independent living community in an affluent submarket of Fort Worth boasts some of the largest units in the area—averaging 1,436 SF. The 10-acre property features a variety of upscale amenities, including a resort-style swimming pool; a hot tub and cabana; a fitness center; a lounge and bar; a library; a game room; and a fully-equipped workshop.
LEASES
Senderra RX inked a long-term deal for 22k SF at 9330 LBJ Freeway in Dallas from Gregory & Malouf Interests. Cushman & Wakefield’s Dan Harris and Craig Wilson repped the tenant. JLL’s Blake Shipley and Jay Bailey repped the landlord.
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Sabre signed a 196k SF deal to lease all of Building 2 at the Terrace at Solana as well as the first three floors of Building 3 in Solana Business Park. Cushman & Wakefield’s Chris Taylor, Rodney Helm and Layne Mayfield repped Solana. JLL’s Ryan Matthews and Cannon Camp repped Sabre. Solana Business Park is undergoing a $65M campus renovation.
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Anchor Fabrication inked a 225k SF lease at 4600 Blue Mound Rd in Fort Worth from the City of Fort Worth. Transwestern VP Sarah LanCarte repped the tenant.
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Red River Paper signed a 27k SF lease renewal at 8330 Directors Row in Dallas from Premier RE. Mercer Co’s Jeremy Mercer brokered the deal.
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Synergy Fabrication signed a new 21k SF lease at 1432 E Devitt in Fort Worth with Hal Allen Family. Transwestern’s Jeff Givens repped the landlord.
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ID Technology leased 56k SF at 5051 N Sylvania Ave in Fort Worth. Cushman & Wakefield’s Blake Anderson and David Eseke repped the tenant.
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Electric Sun renewed its 21k SF lease at 7500 Jack Newell in Fort Worth with Riverbend Industrial Partners. Transwestern’s Jeff Givens repped the landlord.
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Heartland Cabinets signed a new 20k SF lease at 4525 and 4529 JD Mouser Pkwy in Alvarado with Ruthann Geer. Transwestern’s Bill de la Chapelle, Sarah LanCarte and Sharon Cramer repped the tenant.
EXECUTIVES
JLL added three team members to its capital markets platform: Dustin Volz as SVP, Zane Marcell as VP and Grant Matthews as associate. The trio comes from Younger Partners.
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Ken Gilbert joined Cushman & Wakefield from CBRE. He brings more than 30 years of experience executing large-scale real estate projects throughout the US.
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NOVUS Realty Advisors added Nan Li as SVP of global investments and Zach Fry as VP of investments/land. Nan comes from Hilton Worldwide, where she was a project manager overseeing the development of pipeline projects in China. Zach will concentrate on income investment and land sales.
FINANCE
HFF arranged a $248M refinancing for a retail portfolio totaling 20 properties and 2.1M SF in Houston, Dallas and San Antonio. HFF worked for the borrower, Global Fund Investments, to place the long-term, fixed-rate loan with TIAA-CREF. Loan proceeds were used to refinance existing debt and recapitalize the properties. The 95% leased portfolio of 20 properties includes tenants H-E-B, Kroger, Kohl’s, LA Fitness, Petco, Golfsmith, 24-Hour Fitness, Starbucks and T.J.Maxx. Seven of the retail centers are in the Metroplex in Arlington (two centers), DeSoto, Hurst, Plano, Richardson and Southlake. HFF’s debt placement team was led by senior managing director Mike Tepedino, managing director Michael Gigliotti and director Cameron Cureton.
SALES
Texas Bank Financial purchased the 48k SF Executive Place multi-tenant office building at 4521 S Hulen St in Fort Worth from Hulen EP Partners. Coldwell Banker Commercial Alliance DFW’s Gary Walker repped the buyer. Colliers’ Ted St. Clair repped the seller.
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Milan West Properties sold a 25k SF industrial building at 4909 Northeast Pkwy in Fort Worth to Ace Queen. Transwestern’s Todd Hawpe and Jim Sager repped the buyer.
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Mercer Co’s Jeremy Mercer brokered the sale of the 20k SF 8505 Directors Row in Dallas. 8505 Directors Row Property purchased the property from Rory Sterling.
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Motor Speedway Partners sold 3.6 acres at the southeast corner of I-35 and SH 114 in Fort Worth to A&M Developers. Transwestern principal Lester Day repped the seller.
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PVI Riverside Holdings sold a 71k SF industrial building at 992 and 998 Haltom Rd in Fort Worth to Enigma Properties Haltom. Transwestern’s Todd Hawpe and Jeff Givens negotiated the transaction.
THIS & THAT
In just two hours, TIG employees volunteering at the North Texas Food Bank loaded six pallets of various children’s food; opened 180 boxes of food to organize and box for distribution; organized and boxed 1,260 bags of food for distribution; and handled about 4,500 pounds of food. The TIG team’s grand total creation: 3,750 meals.
NEW BUSINESS
Palladium USA International, along with development partner NE Development, broke ground on 7.4 acres in the Lakefront District of Little Elm for a mixed-use community. The project will include 6k SF of retail and restaurant space and 203k SF of luxury rental homes in four-story buildings. The retail development will be at the southeast corner of Eldorado Parkway and Main Street, across from the existing Hydrous Wake Park, Hula Hut restaurant and Towers Tap House restaurant. The project will also include 242 luxury rental homes and approximately 383 parking spaces. The gross building area will exceed 230k SF. Construction is expected to last 16 to 18 months; Humphreys & Partners Architects is the architect of record for the development.
