The Week in Deals
NEW BUSINESS
Hines plans for a 23-story office tower at 2371 Victory Ave in Victory Park, just north of Hines’ One Victory Park development. The 470k SF building will have 15 levels of office space with a 7,000 SF fitness center, a 6,000 SF conference center, on-site restaurant and café, and rooftop function terrace. Construction should begin in ‘Q4 with a projected delivery date of Q1 2017. Cushman & Wakefield has been hired to direct leasing and marketing for the property. The project is designed by Duda/Paine Architects.
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TIG opened a Fort Worth office called TIG Metroplex West. Karen Simon (formerly of Bradford) joined the firm as president and principal. She will join SVP and property management director Brenda Kindt as partners in the new office.
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3700M, a 472k SF mixed-use development under construction on McKinney Avenue adjacent to West Village in Uptown Dallas, was purchased by Forest City Residential from Cityplace Co. The 37k SF ground-floor retail and restaurant component will extend the street-level energy and vitality of West Village, and Cityplace Co will purchase the retail from Forest City upon completion as part of a condo ownership regime. The residential component of 3700M consists of a 21-story, 257-unit high-rise tower and 124 units of mid-rise wood frame residential. Good Fulton & Farrell partnered with Ziegler Cooper of Houston on the design of 3700M. Rogers-O'Brien Construction is the GC.
SALES
NewQuest Properties acquired Carrollton Town Center at the southeast corner of President George Bush Turnpike and Old Denton Road in Carrollton. A major redevelopment of an existing 154k SF center, it will be anchored by a new 50k SF 99 Ranch Market grocery store and will feature extensive common-area features and contemporary storefront upgrades.
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Henry S. Miller Brokerage SVP Jerry Averyt represented the seller in the disposition of a 16k SF industrial property at 11551 Chairman Dr in Dallas. The building was purchased by Trident Commercial Properties as an investment property. Lee & Associates’ Nathan Denton represented the buyer.
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Vaquero Ventures acquired a 35k SF warehouse on four acres at 3500 S Cooper St in Arlington from EKIM Partners. Bradford’s Nick Talley brokered the direct transaction.
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Purvis Industries purchased a 10k SF office warehouse at 900 E Hickory St in Denton from the bankruptcy estate of Enmon Accessories. Henry S. Miller Brokerage EVP Dan Spika repped the bankruptcy trustee. Purvis Realty’s Ashley Purvis represented the buyer.
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Hangover Opportunity Fund sold the 39k SF Grapevine I office building at 3500 William D Tate Ave in Grapevine to a 1031 Exchange private investor from California. Coldwell Banker Commercial Alliance DFW’s Gary Walker and Renee Efimoff represented the buyer. Alliance Commercial’s Jill Bayne represented the seller.
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Gladstone Commercial Corp purchased two Creme de la Creme childcare facilities in Colleyville and Allen for $10.5M. The company assumed a $6.3M loan with Wells Fargo Commercial Mortgage as part of the transaction.
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Viceroy Acquisition Corp purchased a 92k SF property at 2605 Rodney Ln in Dallas. The Mike Smith Co's Mike Smith repped the buyer. Colliers International's Matt Thompson and Phil Rosenfeld repped the undisclosed seller.
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RIG Weimer purchased a 43k SF store at the northwest corner of Midway and Alpha in Farmers Branch from NWC of Midway & Alpha. The Retail Connection's David Levinson, Kendall Ibsen, and Mitch Traub brokered the deal.
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Transwestern's Sarah Everett repped Meridian Bank of Texas, the seller, in the disposition of a 141k SF industrial property at 4688 SH 16 in Graham, to Valew Truck Bodies.
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Velocis purchased the 138k SF Town Center Colleyville, which is anchored by grocery tenant, Market Street. Studio Movie Grill will be replacing the theatre, with an anticipated opening date of May 14. The center is more than 93% occupied. JLL’s Clay Smith and Lance Taylor represented the buyer and seller. Venture Commercial Real Estate’s Easley Waggoner Jr. and Amy Pjetrovic will handle leasing.
THIS & THAT
Billingsley installed a 25-foot tall steel pegasus (powder coated white by artist Kevin Box) at the corner of Cypress Waters Boulevard and Hackberry Road on Monday. The winged icon of Dallas is residing in front of the Nationstar build-to-suit site at 8951 CW Blvd and 8950 CW Blvd.
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Prescott Group and Dyck O’Neal employees spent an afternoon at the North Texas Food Bank sorting through 17,100 pounds of food on 19 pallets (which provides 14,250 meals). This was Prescott’s second time at the NTFB.
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TREC’s Associate Leadership Council alumni got together to talk about Cityplace at (where else?) the Tower at Cityplace and snapped this pic for us of some of the members. Here’s Tonti Properties’ Rick Perdue, Parmenter’s Josh Hedderich, Cawley’s Chris Boyd, Parmenter’s Spence Sowa, Herman Miller’s Melanie Wick, Cityplace Co’s Neal Sleeper, Chicago Title Co’s Clark Pulliam, King Laughlin Co’s King Laughlin, Cushman & Wakfield’s Matt Schendle, Tri-Tex Construction’s Randy Rogers, and Marvin F Poer & Co’s Justin Goertz.
EXECUTIVE PEOPLE
Cameron Colvill joined Colvill Office Properties as a leasing rep in Colvill's Dallas office. He joins the marketing and leasing team responsible for the 1.3M SF Chase Tower. He comes to the firm from Swearingen Realty Group.
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Jimmy Driver joins Macfarlan Capital Partners as a VP focusing on asset management and investor communication. He comes to Macfarlan from Goldman Sachs & Co.
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The LaSalle Group appointed David Starr as VP and general counsel. He will oversee the legal department which services The LaSalle Group and its four divisions. He comes from Belo Corp, where he served as VP and deputy general counsel.
LEASES
Kerr Industries of Texas renewed a 50k SF office/warehouse lease at 1101 N Great Southwest Pkwy in Arlington. Bradford’s Michael Spain and Jim Ferris represented the landlord, CIVF I-TX105-W06. E. Smith Realty’s Jim Hazard represented the tenant.
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Academic Health Plans leased 14k SF at 3500 William D Tate Ave in Grapevine from Hangover Opportunity Fund. Coldwell Banker Commercial Alliance DFW’s Gary Walker and Renee Efimoff represented the landlord. Century 21 Mike Bowman Commercial’s John Lucas represented the tenant.
