The Week in Deals
Fort Worth: We’re No 1!
Cowtown topped Livability.com’s list of the top 10 best downtowns 2014, which considers everything from architecture to art, lifestyles, and data like retail and office vacancies. Editors looked at income growth, unemployment, the ratio of people who live and work in the downtowns, and the overall livability. They fell in love with the Stock Show and Rodeo and its annual parade, in conjunction with the urban sophistication the City has, as well. The number of people living in downtown Fort Worth continues to grow as new developments add residential, office, and retail options. City and community leaders support a number of rehabilitation and improvement projects that help bring in more businesses, create a more walkable environment, and ease traffic congestion.
LEASES
Nerium International expanded to 29k SF at 4004 Belt Line Rd in Addison. Bradford’s Sharon Friedberg and Melanie Hughes repped the landlord, ARI Forum. Cushman & Wakefield’s Robbie Baty and Bill McClung repped the tenant.
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Beacon Sales Acquisition leased 20k SF at 2716 Prestige Rd in Keller from E&L Holdings. Lee & Associates’ Mark Graybill and Scott Giordano repped the tenant. The landlord was repped by NAI Robert Lynn’s Michael Newsome.
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Callison signed an almost 21k SF 10-year lease at Bryan Tower, 2001 Bryan St. Bryan Tower is owned, managed, and leased by Spire Realty Group. Spire’s Andrew Schendle and Allison Johnston repped the landlord. Mohr Partners’ Charles Daggett and Stephen Hemphill repped the tenant.
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Flextronics leased 25k SF at 660 Dorothy Dr in Richardson. The tenant was repped by Cassidy Turley’s Blake Anderson and David Eseke.
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Fleetpride leased 46k SF at 601 W. Mockingbird Ln in Dallas. The tenant was repped by Cassidy Turley’s Frank McCafferty, Kris Knapstein, Blake Anderson, and David Eseke.
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Pepperidge Farms leased 21k SF at 6314-D Airport Frwy in Haltom City. Transwestern’s Leland Prowse represented the landlord.
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MHC Truck Leasing leased 14k SF at 2900 Deen Rd in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens repped the landlord.
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Aurora Construction leased 14k SF at 16415 Addison Rd in Addison from Aque Investment Group. Stream’s Beth Boyd, Peter Butler, and Ryan Evanich repped the landlord. KW Commercial’s Ken Pardue repped the tenant.
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A design firm leased 10k SF at 3900 Willow St in Dallas. Hudson Peters Commercial’s Cincha Kostman repped the landlord, SimbolWood Properties. Hudson Peters’ Scott Ehley repped the tenant.
KUDOS
Henry S Miller honored its 2013 Top Producers: Tom Grunnah, Shawn Ackerman, Jim Turano, Mark Porterfield, Dan Spika, Lane Kommer, Lily Chang, John St. Clair, Jerry Averyt, and John Bielamowicz. Congrats folks!
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TREC hosted big wigs like Munsch Hardt Kopf & Harr’s Glenn Callison, Corinth Properties’ Frank Mihaloupolus, and Husch Blackwell’s Charles Morris at its annual membership meeting while trying to recruit members to volunteer for 2014 committees. TREC's Young Guns also recently hosted its casino night with $90k raised for The Stewpot. TREC’s Young Guns are creating a community garden in Encore Park in Downtown Dallas to foster community through mentoring, volunteerism, education, and environmental stewardship.
EXECUTIVE PEOPLE
Morrow Hill added Simon Figg and Chad Littleton, both as EVPs. Each has more than 15 years of experience in commercial real estate.
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The LaSalle Group appointed Joseph Jasmon as the company’s first COO. He joins the company from American Healthcare Management Group, where he served as managing partner.
SALES
Brookfield Property Group purchased the 460k SF Riverside Commons along the westbound service road of SH 114, on the east side of Riverside Drive in Irving. The six-building, Class-A office asset is 37% leased. CBRE’s Gary Carr, Eric Mackey, John Alvarado, and Robert Hill repped the seller.
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A partnership sold the 21k SF net-leased Crème de la Crème at 9375 Legacy Dr in Frisco to an undisclosed buyer. Marcus & Millichap’s Jason Vitorino repped the seller. At the time of sale, 10 years remained on the original 15-year triple-net lease.
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John R. Salazar Properties sold a 25k SF office building at 8100 John W. Carpenter Fwy in Dallas to Hickory Creek Retail. Coldwell Banker Commercial Alliance DFW’s Monika Guzman-Perez repped the seller. Commercial Realty Partners’ Mark Pierce and Reagan Vidal repped the buyer.
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Greenway Investment Co purchased the 78k SF Denton Town Center at the southeast quadrant of I-35 East and Loop 288 across from the Golden Triangle Mall. Denton Town Center was 85% leased. Transwestern handles leasing and management for the property. Transwestern’s Larry Jordan, Frank Bullock, and Steve Williamson repped the seller, a family trust. Dollar-Flowers Realty Partners’ Dean Flowers and Pete Flowers repped Greenway Investment.
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Bluebonnet Partners sold a 12k SF property at 1826 Lakeway Dr in Lewisville to Point Innovations. Search Commercial’s Darryl Cothron and Dane Thomson repped the seller. Banner Commercial’s Rob Meshe repped the buyer.
