This Week's Dallas-Fort Worth Deal Sheet

Maersk Inc. sold 25 acres of raw land near the junction of FM 156 and FM 1384 in Justin to J&B Construction. 

The new owner plans to restore the land and sell it in subdivisions after the cleanup is finished. The property is five miles from Texas Motor Speedway and 10 miles from DFW Airport in an extraterritorial jurisdiction, so there are no zoning requirements regarding land usage. Bradford Commercial Real Estate Services’ Nick Talley represented the seller in the direct deal.

EXECS

George Mills will transition from director of the Department of Engineering at The Joint Commission to a new position as director of healthcare technical operations at JLL. 

SALES

Michaelson Real Estate Group LLC and a private equity investor bought Chesapeake Apartments, a 126-unit apartment building at 11620 Audelia Road in Dallas.

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Digital Realty bought 697K SF of land at the southwest corner of Holford and Ferris streets in Garland. Cushman & Wakefield’s Rick Hughes represented the buyer. The seller was Blandenstriker Ltd.

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Texas Sterling Construction sold a 16K SF building at 3475 High River Road in Fort Worth. Henry S. Miller’s Dan Spika represented the buyer. CBRE’s Mike Chiocca represented the buyer, Black Diamond Real Estate.

LEASES

L&S Mechanical leased 19K SF of office space at 1101 Arapaho Road in Richardson. NAI Robert Lynn’s Kent Smith represented the tenant. Mark Jordan and Scot Florsheim represented the landlord, Sooner Management, in-house.

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P1 Ventures LLC leased 11K SF at 2060 West Spring Creek Parkway in Plano. VISION’s Michael Gonzales and VISIONsource Real Estate Co.’s Shawn Riner represented the tenant.

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Cushman & Wakefield recently closed the following North Texas leases:

• Kuehne & Nagel leased 189K SF in Valley Parkway Distribution Center at 255 Valley Parkway in Lewisville. Cushman & Wakefield’s Blake Anderson, David Eseke and Chris Hillman represented the tenant.
• Colony Northstar Advisors renewed and expanded its lease for a total of 17K SF at 13727 Noel Road in Dallas. Colliers International’s Daniel Rudd and Billy Varenkhamp and Cresa Partners’ Gianni LaBarba represented the tenant. Cushman & Wakefield’s Lauren Napper, Trey Smith and Chris Taylor represented the landlord, Galleria North Tower II.
• KD Studio Inc. leased 17K SF at 2600 North Stemmons Freeway in Dallas. Cushman & Wakefield’s Steve Wentz and Randy Cooper represented the tenant. NAI Robert Lynn’s John Lancaster represented the landlord, Pollock Realty.
• Monitronics International renewed its 17K SF lease in One Valley View at 2350 Valley View Lane in Farmers Branch. Cushman & Wakefield’s Dean Collins, Mark Collins and Rick Hughes represented the tenant. Mitchell S. Terry Commercial Real Estate’s Mitchell Terry represented the landlord, Thundering Herd Inc.
• TEK Systems renewed its lease for 12K SF of office space in Park Center at 2400 Dallas Parkway in Plano. Cushman & Wakefield’s Travis Boothe, Craig Wilson and Randy Cooper represented the tenant. Cushman & Wakefield’s Lauren Napper and Trey Smith represented the landlord, TA Associates.
• Cozen O’Connor leased 12K SF in Comerica Bank Tower at 1717 Main St. in Dallas. Cushman & Wakefield’s Mike Gosslee represented the tenant. Mike Silliman represented the landlord, M-M Properties.
• Schlage Lock Co. leased 55K SF in Liberty Park GSW North at 5430 FAA Blvd. in Irving. Cushman & Wakefield’s Chris Hillman, Mark Collins and Dean Collins represented the tenant. Cushman & Wakefield’s Nathan Orbin and Kurt Griffin represented the landlord, Liberty Property.
• Callbox Storage expanded and renewed its lease for a total of 52K SF at 4051 North State Highway 121 in Grapevine. Cushman & Wakefield’s Gary Collett and Shannon Johnston represented the tenant.
• Midwest Truck & Auto Parts leased 15K SF at 15600 Trinity Blvd. in Fort Worth. Cushman & Wakefield’s David Eseke represented the tenant. Bradford Commercial’s Michael Spain and Clint Manning represented the landlord, Stockbridge Capital Partners.

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Rhino Medical Services signed a 14K SF renewal and expansion of its lease at 2000 East Lamar Blvd., Arlington. Coldwell Banker Commercial Advisors DFW’s Theron Bryant represented the landlord, AOB Lamar LLC, in the direct deal.

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Blackstone and Equity Office added four new tenants to the Solana Campus in Westlake. JLL’s Jeff Eckert, Blake Shipley, Jay Bailey and Frank Taylor represented the owner in each lease. The deals are:

• 21K SF for the Town of Westlake. Cushman & Wakefield’s Craig Wilson and Randy Cooper represented the tenant.
• A 12K SF lease for Oliver Wyman. Colliers’ Jim Graham and Tyler Howarth represented the tenant.
• 12K SF for the U.S. government.
• A 10K SF deal for Advanced Plan for Health. Sean Sundby represented the tenant.

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DeCoty Coffee Co. leased 16K SF at 3225 Premier Drive in Irving from WPI Premier LLC. Bradford Commercial Real Estate Services’ Brock Wilson and Joe Santaularia represented the landlord. CBRE’s Corbin Crews represented the tenant. 

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UWorld will move its offices to Cypress Waters and lease 50K SF of office space in 2018.

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ECS leased 14K SF at 3033 Kellway in Carrollton. Younger Partners’ Byron McCoy represented the landlord, Kellway Property Group. Cushman & Wakefield’s Emily Hoffman represented ECS.

FINANCING

Metropolitan Capital Advisors arranged a Fannie Mae refinance loan for La Hacienda Apartments in Dallas. The loan has a fixed interest rate with a 12-year term and a 30-year amortization schedule.

DEVELOPMENT

Dermody Properties completed Phase 1 of LogistiCenterSM Dallas, at Bonnie View Road and Logistics Drive near Interstate 20. Phase 1 of the industrial park includes a 626K SF center. 

THIS AND THAT 

Renaissance Dallas at Plano Legacy West Hotel has its grand opening on Sept. 8. Part of the $3B Legacy West mixed-use development, the 15-story hotel has 304 rooms and is designed to merge work and play for its guests.

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The 148-room Aloft Richardson hotel officially opened at CityLine in Richardson.

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A co-working space with 80 private offices and six meeting rooms will open in HALL Arts this November.

CORRECTION, SEPT. 12, 2:27 P.M. CT: This story has been updated to accurately reflect the name of the Texas Motor Speedway and the scope of the Renaissance Dallas at Plano Legacy West.