The Deal Sheet
KTR Capital Partners plans to deliver 502k SF of spec industrial space by year’s end in the Railhead Industrial Park. It will be the only newly built Class-A warehouse available inside Loop 820, Bisnow learned first. (The Class-A warehouses there now will have to haze it.)
Here’s Holt Lunsford Commercial’s Donnie Rohde and Matt Carthey (who will handle leasing along with colleague Jim Brice) along with KTR's John Clowney at the property. Meacham Crossing at 4601 Gold Spike in Fort Worth will be divisible between 183k SF to 373k SF to the full 502k SF. This site is only two miles west of North Loop 820 and I-35W. Donnie tells us North Fort Worth has shown consistent growth since coming out of the recession and has consistently been in the top three of the nine DFW submarkets for the last two years with the lowest quarterly vacancy and highest net absorption numbers. North Fort Worth has also attracted companies such as Amazon and Walmart, he says.
This building has a unique story, Donnie says. Construction started in 2007 by Con Agra Foods, but changes in corporate strategy led the company to abandon the project when it was about 40% complete. The building was subsequently sold to Frac Tech Services in 2011 as a site for its industrial pump manufacturing operations. KTR bought the building in early 2014 and immediately began putting the wheels in motion to finish the project. Donnie says this area has quick access to highways, rail, and air cargo, and a strong skilled labor pool.
KUDOS
Cassidy Turley celebrated its fifth year of its annual winning properties broker incentive program at The One & Only Palmilla Resort in Los Cabos, Mexico, with this year’s winning brokers and their spouses. This is a group shot from the celebration dinner. Among the brokers participating are Rick Hughes, Mike Kay, Brad Selner, Jeff Staubach, Doug Carignan, Justin Collins, Robbie Baty, Matt Heidelbaugh, Billy Vahrenkamp, Natalie Snyder, and John Roper. What incentives are your companies offering? We’d love to see them. Send them to tonie@bisnow.com.
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Hudson Peters Commercial won the Addison Readers' Choice Award for favorite commercial real estate firm for the fourth consecutive year. Congrats!
SALES
Mohr Capital purchased the 33k SF Coit Medical Center in Dallas. NGKF Capital Markets repped the seller, Passco Seneca Coit. Mohr Capital’s Scott Henry, Gary Ham, and Austin Ames served as in-house reps for Mohr Capital. Frost Bank provided financing.
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An institutional investor purchased Park Central 7-8-9 from Parmenter Realty Partners. Parmenter purchased the 846k SF office complex in 2006.
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The Victory Group has sold a 1.8-acre pad site on the northwest corner of Legacy Drive and Warren Parkway in the Victory at Stonebriar development in Frisco. The buyer, Gingercrest, will develop the site for a RaceTrac. Edward Bogel, Jonathan Cooper, and David Davidson Jr repped Victory Group.
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MQ Development Partners sold a one-acre pad site on the northwest corner of SH 170 and SH 114 in Roanoke to Kaisen Real Estate, which plans to develop the site for a Denny’s Restaurant. Venture’s Ken Reimer, Edward Bogel, David Davidson Jr, and Katie Vance Lingor repped the seller. John T Evans Co’s Chris Burks repped the buyer.
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A Dallas-based hotel REIT purchased The Ashton Hotel in downtown Fort Worth. CBRE Hotels first VP Bert Stevens repped the seller, Ashton Hotel Partners.
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Street View Realty Investments purchased a former 38k SF nursing home on an almost three-acre pad site at 459 Keller Parkway in Keller. Plans call for demolishing the building and creating a shopping center or several pad sites. The seller, Southwest LTC, was repped by Vision Commercial’s Roger Smeltzer and Scott Lowe. The buyer was repped by Kathy Denny.
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MP Acquiport Industrial sold a 78k SF industrial building at 600 Data Dr in Plano to U.S.A. Gateway. Lee & Associates’ Nathan Denton, George Tanghongs, and Brett Lewis repped the seller. The buyer was repped in-house by David Men.
EXECS
Bob Shibuya joined Mohr Partners as president. He will be responsible for the firm's real estate service business globally. He comes to Mohr from DTZ and will succeed Ted Fredericks, who will continue to serve as president emeritus.
NEW BUSINESS
Stratford Land, Legacy Capital, and the Walton Group of Cos purchased about 268 acres of single-family land in the Chisholm Trail Ranch Master Plan in Fort Worth. The development is bisected by the recently opened Chisholm Trail Parkway, and will include approximately 1,100 single-family residential homes, multifamily, and commercial uses. Walton is currently in discussions with builders and plans lot delivery at the end of 2015. Walton has also been working with the Crowley ISD on a planned elementary school site within the first phase. Earlier this summer, Walton closed on 1,755 acres of land from the Texas General Land Office. That property is directly adjacent to Chisholm Trail Ranch and could allow for shared resources between the two projects.
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Uptown Village at Cedar Hill selected Trademark Property Co to manage and lease the 610k SF mixed-use open air center.
LEASES
UBS plans to relocate to the 12th floor of Legacy Tower later this year after inking a 28k SF lease. Phase I of Legacy Tower features a 13-story, 342k SF Class-A office tower at the southeast corner of the Dallas North Tollway and Legacy Drive, developed by Trammell Crow Co and JV partner Principal Real Estate Investors. CBRE’s Dennis Barnes, Celeste Fowden, and Hunter Lee repped the landlord. Cushman & Wakefield’s Mike Wyatt and Bill McClung repped the tenant.
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Gypsum Acquisition leased 12k SF at 1120 S Blue Mound in Saginaw. Transwestern’s Sarah Everett repped the landlord.
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RW Sales leased 16k SF at 317 Hilltop in Richardson. Holt Lunsford Commercial’s Joshua Barnes repped the owner, Cobalt Capital Partners. Mercer Co’s Matt Spellman repped the tenant.
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Metropolitan Warehouse & Delivery Corp leased 13k SF at 4305 Pinnacle Point Dr in Dallas from Anford Pinnacle. Bradford’s Brian Pafford and Jason Miller repped the landlord. NAI Robert Lynn’s Brandon Coutu repped the tenant.
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Lindstrom Metric leased 32k SF at 909 Avenue S in Grand Prairie. NAI Robert Lynn’s Michael Stanzel repped the tenant.
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Patton Boggs leased 26k SF at 2100 McKinney Ave in Dallas. Cassidy Turley’s Randy Cooper and Charlie Morris repped the tenant.
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Irwin Aviation leased 12k SF at 600 Railhead Rd in Fort Worth from Sun Life Assurance Co. Bradford’s Nick Talley repped the landlord. Holt Lunsford Commercial’s Matt Carthey repped the tenant.
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Office Max renewed 22k SF for three years at 4601 Cooper St in Arlington. Structure Commercial’s Eric Deuillet repped the landlord, Hartman Income REIT.
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Leland’s Industries leased 44k SF at 8800 E FM 916 in Grandview. NAI Robert Lynn’s Michael Newsome and Todd Hubbard repped the landlord.
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Gas Monkey Music & Venue Hall signed a 32k SF lease at 10110 Technology Blvd in Allen from EPT Properties. The Retail Connection’s Scott Rose and Terry Syler repped the landlord.
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Common Desk has expanded into a total of 12k SF at its Deep Ellum offices. The expansion should be complete by the end of the month.
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A private investor purchased a shopping center at 1223 W McDermott Dr in Dallas. The Retail Connection’s Scott Rose and J Small Investments’ Earl Harris handled the negotiations.
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Legacy Preparatory Charter Academy purchased a 55k SF former Haverty’s store (601 Accent Dr in Plano) near Collin Creek Mall. The Weitzman Group’s Greg McDonald and Eddie Liebman handled negotiations.
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A private investor sold the 18k SF Eastlake Business Center at 316 S Goliad in Rockwall to a West Coast buyer. Marcus & Millichap SVP Jason Vitorino repped the seller. The property was fully leased.
