Bisnow Scoop: Get Ready for the Richardson Restaurant Park
Hermansen Land Development’s Richardson Restaurant Park—on five acres fronting I-75 just south of Beltline Road—is beginning to market to tenants and should break ground later this year, we learned first.
Centennial Retail Services’ Perren Gasc tells us he’s been tapped to lease the project, which is slated to open early next year. The project will focus on new and urban concepts, he says. Richardson is booming and needs more restaurants, he explains. (Either that or people need to learn how to cook.) Hermansen Land Development has developed more than 2M SF of retail projects throughout the Southern US and is known for the Shops at Starwood, Frisco Market Center, and the Shops at Highland Village.
Perren (here with his bride-to-be, Rachel) also tells us Centennial’s Whole Food’s project in Colleyville is slated to open July 8 and will include Matt’s Rancho Martinez, Orange Theory Fitness, Petco, Zoe's Kitchen, and Einstein’s Brothers Bagels. When he’s not filling up retail projects, Perren says he’s consumed with finalizing the details for his July 6 wedding at the downtown Omni. The happy couple plans to honeymoon in St. Bart's. Congrats Perren!
THE WEEK IN DEALS
SALES
Deutsche Asset & Wealth Management acquired the 380k SF Galleria North Tower I in North Dallas from FSP Galleria North Limited Partnership. CBRE’s Gary Carr, John Alvarado, Eric Mackey, and Robert Hill repped the seller. The project is 87% occupied.
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Plano Development sold 2.38 acres at Park Place Center in Plano. Transwestern’s Henry Knapek represented the seller.
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Cidema II purchased 93k SF at 2817 and 2829 Braswell Dr in Fort Worth. Transwestern’s Todd Hawpe repped the buyer.
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Colliers International’s Wade Smith and Kevin Brookmole repped the Anheuser Busch Employees Credit Union (out of St. Louis) in the purchase of a bank building at 725 E Beltline Rd in Cedar Hill. The seller was repped by Venture Commercial’s Bob Moore and Chris Corbin.
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Landmark Quebec sold 5.61 acres at Quebec Street and Northwest Centre Drive in Lake Worth to Gander Mountain. Transwestern’s Steve Williamson and Mason Bishop repped the seller and the buyer.
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Tong Development purchased 10 acres at 1980 California Crossing in Dallas from F&F Holdings II. Henry S. Miller Brokerage EVP Dan Spika completed the sale.
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SHOP Cos’ Tommy Tucker brokered the sale of the 54k SF Haggar Square shopping center in Plano. The vacant REO is on 8 acres at the intersection of Hwy 121 and Ohio Road. The buyer is a private investor from California.
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Commercial Interiors purchased a 12k SF industrial building at 4300 W Royal Ln in Irving from Muzak. Site Selection Group's Jeff Sheehan repped the seller. Lee & Associates' Nathan Denton repped the buyer.
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An LLC purchased the 36k SF Mustang Square retail property at 3105 Ira E Woods Ave in Grapevine from a personal trust. Marcus & Millichap’s Philip Levy and Chris Gainey repped the seller. Philip also repped the buyer. The center is currently 97% occupied.
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Citadel Partners assisted Tod Fobare in the purchase of two land sites totaling almost 7 acres in Richardson. Tod is the managing partner of Skyrise Properties. The two sites—205 E. Arapaho and 210 Woodall—are across from the DART station on Arapaho Road.
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Alexor Group purchased a 13k SF building at 112 Gross Rd in Mesquite. NAI Robert Lynn’s Stephen Cooper repped the seller.
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Ace Queen purchased a 32k SF building at 621 South Freeway in Fort Worth. NAI Robert Lynn’s Michael Newsome and Fischer & Co’s Chris Armstrong repped the seller. Vision Commercial’s Scott Lowe repped the buyer.
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Corliss Stone-Littles purchased Meadows Creek Plaza building at 8180 Precinct Line Rd in Colleyville for it’s corporate HQ. Realty Capital Management’s Mark Boone repped the seller.
