The Week in Deals
NEW BUSINESS
Port Logistics Realty will start construction in the Q3 on the Southport Logistics Park near the intersection of Fulghum Road and I-45 in Dallas. Phase 1 will include the development of two buildings totaling 1.5M SF, as well as infrastructure to support the entire park. Infrastructure improvements will include upgrading Fulghum Road to a heavy-haul, four-lane concrete roadway; installing Southport Parkway as a 2.5-mile, interior heavy-haul road; constructing a water tower to support a proprietary water system for the park; and installing all utilities and mass grading. CBRE’s Kacy Jones, John Hendricks, and Wilson Brown will handle leasing for the property. Robert Hutchance Jr was also recently named president of Port Logistics Realty.
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Construction started on a new 13k SF corporate HQ for Davis Crane Service at 1212 North Loop 12 in Irving. Speed Fab-Crete, and its design-build architectural partner, Callahan & Freeman, were tapped to perform construction and design services for the $2M project slated for completion in December. The project team also includes Civil Point Engineers; Callahan Structural Engineers; and Fratto Engineering.
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Bealls opened a new 25k SF location at Grapevine Towne Center. The Weitzman Group leases the center, and Cencor Realty Services manages it.
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First Flight selected McKinney National Airport as its new HQ with a 12k SF hangar and offices at the airport. The space will serve as the base for supporting operations in East Texas.
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A new $12M Sonoma House Assisted Living & Alzheimer Care opened in Carrollton on a 7.5-acre site near the intersection of East Hebron Parkway and Josey Lane. Developed by the Stroud Cos, the community is made up of seven 8,500 SF individual houses with 16 bedrooms with private bathrooms, among other features. The community will serve 64 assisted living residents and 48 memory care residents.
LEASES
Bearcom Operating renewed a 91k SF lease at 4009 Distribution Dr in Garland. Bradford’s Susan Singer and Michael Grant repped the landlord, IAC North Dallas, in the direct deal. Michael also repped the landlord, KTR DFW, in a 14k SF lease to Paragon Brokerage at 720 Industrial Blvd in Grapevine.
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Mechanic’s Time Savers inked a 19k SF lease at 10715 N Stemmons Frwy in Dallas from Eastgroup Properties. Lee & Associates principals Ken Wesson and Adam Graham, and associate Scott Alexander repped the landlord. RE/MAX North Associates’ Ben Armstrong repped the tenant.
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RGT Capital Management expanded its space to 20k SF at 5950 Sherry Ln in Dallas. JLL’s Steve Thelen and Kelley Kackley repped the tenant. CBRE’s Michael Dudley and Shannon Brown repped the landlord, REEF Sherry Lane.
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Underwood Perkins signed an extension on its 16k SF lease at 5420 LBJ Frwy in Dallas. JLL’s Paul Whitman and Conor McCarthy repped the tenant. Cushman and Wakefield’s Matt Schendle and Meredith Durham repped the landlord, TIAA CREF.
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Paragon Distributing Co leased 50k SF at Mercer Business Park from Billingsley Co. Paragon will move in Q1 ‘15. The company was repped by JLL’s Craig Phelps and Michael Haggar.
THIS & THAT
The Real Estate Council Young Guns education committee recently celebrated the completion of a project benefiting Dallas ISD’s Francisco Pancho Medrano Middle School. Young Guns volunteers designed and built a retail/service area to sell snacks, drinks and T-shirts, and a study space for the students to read and socialize. Volunteers worked closely with students on designs and then raised funds and collected in-kind donations to complete the project. Construction took place in March and April. Here’s they are at the ribbon-cutting.
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The 30th Annual BOMA Dallas Trade Show had a western theme this year with iidon Security Associates (pictured) taking the best in show for large booths. Blackmon Mooring won for small booths. The best in theme for large booths went to RESTORx of Texas and SELECT Commercial Services while the small booth award went to Matting By Design.
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To recognize the philanthropic contributions made by shopping centers and shopping center companies across the US, the ICSC Foundation presented a number of awards to regional shopping centers including the Southern US Community Support Award to The Village at Allen in Allen and The Village at Fairview in Fairview (both managed by the MG Herring Group) for their campaign supporting the Children’s Advocacy Center of Collin County.
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Gaedeke Group launched a Vet to Vet campaign to benefit the Dallas VA Medical Center. Donation boxes have been set up in the management offices of Gaedeke’s seven office properties in DFW to collect items until Thursday. Needed items are shorts, T-shirts, underwear, sneakers, white socks, and money. Vet to Vet provides 4,000 gifts to 1,600 patients at Christmas and hosts other events and fundraisers throughout the year for Texas veterans. The beneficiary of the donations is the 853-bed Dallas Medical Center at 4500 S. Lancaster Rd. It’s one of six hospitals in the VA North Texas Health Care System.
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Transwestern SVP Karrie McCampbell was one of four BOMA fellows for 2014. The individuals honored as BOMA fellows have displayed exemplary and sustained contributions to the industry, their profession, the community and BOMA at all levels and have continually answered the call to leadership and service throughout their careers.
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The Southwest BOMA region elected Gaedeke Group southwest regional manager and green program officer Dan Yates as secretary/treasurer for BOMA Southwest. His BOMA tenure includes being named 2011 outstanding member of the year for the Southwest region and BOMA Dallas, which he led in 2010 to 2011. He also has served on the executive board of Texas BOMA and has been a member of the BOMA International’s codes and compliance and government affairs committees. He most recently chaired the Southwest Region’s finance committee and the BOMA Dallas bylaws and policies and procedures review committee.
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Solender Hall helped two non-profit organizations remain neighbors next to the Wilson Historic District so that they could expand their work on behalf of North Texas children. When Dallas CASA needed to expand, it sold its building at 2815 Gaston Ave to Educational First Steps. Solender/Hall’s Eliza Solender represented Dallas CASA, while EFS was represented by Partners National Real Estate Group’s Michael Rareshide. Here’s EFS executive director John Breitfeller, EFS relocation committee chairman Bob Appel, Eliza, CASA director of finance and administration Cindy Warner, and CASA executive director/prez Beverly Levy.
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CBRE SVP Jeff Kittleson earned the firm’s Larry Perrish Award, the highest accolade given in the retail specialty. Jeff’s honor is bestowed upon an individual who is a genuine role model for retail real estate professionals, exhibits boundless energy and enthusiasm, and is eager to share knowledge with their colleagues. Jeff and his team completed 62 transactions in 2013 totaling 1.1M SF for high-profile clients such as Floor & Décor, Gander Mountain, 24-Hour Fitness, Conn’s Electronics, and First Choice ER.
EXECUTIVE PEOPLE
BMC Capital hired Jim Osgood as VP. He has more than 15 years of experience in the commercial real estate industry as a mortgage banker.
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Lancaster Pollard hired Stephen Graham as managing director of the firm’s mergers and acquisitions services. He will lead a national effort to expand the firm’s sell-side and buy-side services for seniors housing and care properties. Prior to joining the firm, he was a VP at Ventas/Nationwide Health Properties.
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Cassidy Turley chief strategy officer Diane Paddison announced her retirement, effective July 1. She has had a 26-year career in commercial real estate. Prior to joining Cassidy Turley, she served as the only woman on global executive teams of two Fortune 500 companies and one Fortune 1000 firm—CBRE, where she served as president of global services; ProLogis, where she was COO; and Trammell Crow Co, where she was COO, global services. Cassidy Turley CEO Joseph Stettinius Jr will assume Diane’s role at Cassidy Turley.
