The Deal Sheet
Holt Lunsford Co will break ground later this month on three industrial buildings (totaling 690K SF in spec space) in South Dallas.
Holt Lunsford Co is developing the project at Danieldale and South Hampton roads in the heart of the I-20 and I-35E corridor in South Dallas. HLC principal John Gorman and marketing director Canon Shoults will be leasing the property. John tells us the project is uniquely smaller than its neighbors (like 1.1M SF Seefried/USAA and the 823K SF Penn/Trammell Crow). The three buildings will be 400k SF, 150k SF, and 140k SF, John says, to meet the demands of smaller tenants.
No leases have been inked yet, but John tells us they have some nibbles from some prospects. The South Dallas industrial submarket hovers around 7% vacancy with positive rent growth, John says. TA Associates is providing the equity. HLC has its own construction management division and the construction company is McFadden & Miller. The architect is RGA Architects; civil engineer is Pacheco Koch.
SALES
Lifenet Texas purchased its current 18k SF building at 9708 Skillman St in Dallas along with three adjacent buildings. Solender/Hall repped the buyer. TIG USA’s Matthew Hickey repped the seller. Lifenet plans to lease the excess space to generate additional income for the non-profit. Pictured is Solender/Hall's Eliza Solender and Lifenet Texas CEO Liam Mulvaney.
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Kroger purchased 13.35 acres in Burleson Commons Shopping Center at Hwy 174 and FM 731 in Burleson for a proposed 114k SF Kroger Marketplace store. Cullinan Properties and Burleson Commons were the sellers. SRS Real Estate Partners’ Mark Reeder and Tyler Isbell repped the seller. Kroger Real Estate’s Danielle Deyarmin and Nate Collins repped the buyer.
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Tribal Solutions Real Estate sold 2.661 acres at 598 E Purnell St in Lewisville to JLP Investments. Cushman & Wakefield’s Mark Collins and Dean Collins repped the seller.
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Brookline Investment Group purchased the 126-unit Manchester Park apartments at 2011 Lincoln Dr in Arlington from Landmark Apartment Trust. CBRE’s Chris Deuillet and Dirk Goris repped the seller, which plans to revitalize 10k SF of unused clubhouse space, including six racquetball courts, at Manchester Park.
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Presidium Group acquired the 208-unit Quarters apartment complex in Dallas with plans for renovations over the next six months.
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Craig Ranch sold a 27k SF tract at the northeast quadrant of Custer Road and Collin-McKinney Parkway in McKinney to Custom Dental for the construction of a freestanding dental office to open summer 2015. UCR’s Thurston Witt Jr and Tey Tiner repped Craig Ranch.
LEASES
Pollo Tropical leased a 1.46-acre pad site for a build-to-suit restaurant at Frisco Trails for its first location in Frisco. The Weitzman Group’s Michelle Caplan and Chrystal Morgan handled negotiations as the exclusive leasing agent for Frisco Trails. Jay Ceitlin represented the restaurant.
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Amcor leased 212k SF at 610 W Trinity Blvd in Grand Prairie from ProLogis. The tenant was repped by Cassidy Turley’s Blake Anderson and David Eseke and Top Gun Advisors’ Greg Kloiber. ProLogis’ Jeff Folkmann repped the landlord.
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The Dallas Entrepreneurial Center signed a 10k SF lease at 311 N Market St in Dallas from RM Crowe. Colliers International’s Travis Ewert, Mary Stoner, and Scott Hage repped the tenant. RM Crowe’s Clif Cone repped the landlord.
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Sedgwick Claims leased 12k SF at 204 W President George Bush Turnpike in Richardson. The tenant was repped by CBRE’s Peter Danna. Cassidy Turley’s Trey Smith and Ward Eastman repped the landlord, Equity Office.
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American Medical Response Ambulance Service inked a 17k SF renewal (including expansion) at 4099 McEwen in Dallas. Boxer Property’s Mark Dowdle, Evan Saks, and Gil Engelhardt repped the landlord, Boxer Property.
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AcrylicSource leased 10k SF at 3405 Dalworth in Arlington from Tarrant County Properties. TIG Real Estate’s Doug Hanna repped the tenant. Colliers International’s Phil Rosenfeld and Matt Thompson repped the landlord.
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Books Squared leased 60k SF at 3702-3706 La Reunion Pkwy in Dallas from BCO Turnpike Distribution. The tenant was repped by Cassidy Turley’s Blake Anderson and Davis Eseke. Washington Real Estate Advisors’ Wilma Warshak repped the landlord.
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Kaplan Higher Education inked a 25k SF lease at 2001 Beach St in Fort Worth from Beach Street Investors. PMRG’s Kurt Cherry repped the owner. JLL’s Matt Montague represented the tenant.
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American Realty Capital Hospitality is adding 126 hotels through the acquisition of a portfolio across 35 states in a $1.93B deal. The combined portfolio will include 132 hotels with 16,115 rooms (11 hotels in Texas).
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Taqua leased 16k SF at 740 E Campbell Rd in Richardson. Cushman & Wakefield’s Dean Collins, Cribb Altman, Mark Collins, and Scot Farber repped the tenant.
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MOL Logistics renewed 12k SF at 750 Port America Place in Grapevine from ProLogis Targeted US. Bradford’s Brock Wilson and Joe Santaularia repped the tenant. Lincoln Property Co’s Gil Stroube repped the landlord.
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REUSEIT leased 12k SF at 3407 Avenue D in Arlington from Realty Associates Fund VII. Bradford’s Jim Ferris repped the tenant. Proterra Properties’ Chris Bly and Dan Lawson repped the landlord.
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Cedars Mediterranean Mezza and Firepit Steaks & Frites signed leases at Preston Village Shopping Center at Hwy 121 and Preston Road in Plano. The two restaurants will share one freestanding 10k SF former Luby’s building. Both restaurants are slated to open in fall 2015. UCR represented both restaurants and the landlord, OTR.
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Elliot Electrical Supply leased 58k SF at 11333 Petal St in Dallas. NAI Robert Lynn’s Nick Lee, Stephen Cooper, and Tom Lynn repped the tenant.
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Appspace leased 12k SF at 5005 LBJ Frwy in Dallas. NAI Robert Lynn’s Nick Lee repped the tenant.
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FCS Building Association leased 12k SF at 500 E Carpenter Frwy in Irving. Transwesten’s Randy Garrett and Jo Thompson repped the tenant.
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Medical City Dallas inked an 11k SF lease at 5974 W Northwest Hwy in Dallas from Lobello Properties. The facility will be a Hospital Corporation of America off-campus emergency department model. Lincoln Harris CSG’s Rhodes Baker and Brian Bacharach repped the tenant. CASE Commercial Real Estate’s Bill Archer repped the landlord.
THIS & THAT
We caught up with some of the The Real Estate Council’s Young Guns at the “Lowdown on Lower Greenville.” Good Fulton & Farrell's Evan Beattie (in salmon tie) was the event moderator.
KUDOS
Bradley Roschyk, property manager of Berkshire Property Advisors’ Verandas at Timberglen, was named the National Apartment Association Education Institute certified apartment manager of the year at the 2014 NAA Education Conference & Exposition in Denver. The award is one of the highest honors given by the National Apartment Association, recognizing members who continue to set industry standards by developing best practices in property management.
