The Deal Sheet
The Weitzman Group has already started scaring up deals for pop-up Halloween stores. Five have been inked and several more are about to close. (That still doesn't give you reason to wait until the last minute to buy your Iron Man costume.)
The Weitzman Group’s Brian Caviness, Ian Laskowski, Steve Gray, and Blake Shipp negotiated Halloween store leases across DFW including a 4,025 SF Spirit Halloween at Lake Worth Marketplace in Lake Worth and a 25k SF lease for Spirit at Lakepointe Crossing in Lewisville. There’s also been two 9,500k SF deals signed in Irving and Addison, with several others set to close soon.
Steve (not pictured here) says the seasonal stores increase traffic in the center for at least a couple of months, exposing shoppers to the tenant mix. They also help bring the landlord income while the leasing team works on bringing in a permanent tenant, he says. One caveat: the space needs to be in good condition, because neither the landlord nor tenant wants to spend much on getting the space ready because of the short terms of the deal. The concepts are flexible on the size required with most hovering around the 7,500k SF mark, Steve says.
SALES
C-III Asset Management (a subsidiary of C-III Capital Partners) sold its 888k SF former Blockbuster HQ on 48 acres at 3000 Redbud Blvd in McKinney to Saskaway Management Group. NAI Robert Lynn’s Dave Peterson, Rick Medinis, and Mark Miller repped the seller. E Smith Realty’s David Ditchman, Ronny Landry, Brad Struck, and Sharon Morrison are handling the leasing on the building, which has been rebranded as Texas Crossing.
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Mohr Capital purchased the 33k SF Coit Medical Center in Dallas. NGKF Capital Markets managing director Evan Kovac repped the seller, Passco Seneca Coit. Mohr Capital's Scott Henry, Gary Ham, and Austin Ames served as in-house reps.
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A family trust sold a 12.5-acre tract at the northwest corner of Hwy 380 and Stonebridge Drive in McKinney to M380 Land Investors. Venture’s Ken Reimer, Edward Bogel, David Davidson Jr, and Katie Vance Lingor repped the seller. John Harris Real Estate Co’s John Harris repped the buyer.
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Beneke Krieg Co acquired the 474-unit Windhaven Park apartment community in Plano. JLL’s Jeff Price, Bill Simmons, and David Fersing handled the transaction.
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Bardin Square Investors (a single-entity partnership of SkyWalker Property Partners) sold 12k SF MOB on one acre at 310 S Industrial Blvd in Euless to HBR Real Estate. KW Commercial/Noble Crest Property Group’s Amber Wimberly repped the seller. Champions DFW Commercial’s Larry Dillon repped the buyer.
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An individual/personal trust purchased the 141-unit Villas Del Rey apartment property at 8117 Barclay St in Dallas from an LLC. Marcus & Millichap’s Bard Hoover and Nick Fluellen repped the seller. The buyer was procured by Marcus & Millichap’s Joshua Luchs and Joshua Ross. Financing was arranged by Marcus & Millichap’s Brian Adams.
NEW BUSINESS
Behringer and PegasusAblon are JV-ing in the development of The Ablon at Frisco Square, a luxury 275-unit multifamily community. The project will be developed by PegasusAblon, the JV’s general partner and should be ready for first occupancy in Q4 ‘15.
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The Hotel Palomar Dallas has been rebranded as The Highland Dallas following a change of management from Kimpton Hotels & Restaurants to Interstate Hotels & Resorts. As part of this change, The Highland Dallas will be one of the first properties to join Hilton Worldwide as part of Curio—a Collection by Hilton. Curio is a global collection of distinctive four- and five-star hotels created for travelers who seek discovery and authentic experiences. Existing Hotel Palomar Dallas reservations are intact at The Highland Dallas.
KUDOS
Klyde Warren Park earned LEED gold certification in the new construction category from the USGBC. The park has a host of sustainable features, including solar panels, high-efficiency glass, a geothermal cooling system, low water-usage irrigation, and LED lighting fixtures. The park is also one of five finalists for ULI’s 2014 Urban Open Space Award. The winner will be announced in October.
LEASES
Skyline Exhibits signed a 41k SF lease at 417 113th St in Arlington from IndCor Properties. Lee & Associates’ Mark Graybill and Scott Giordano repped the landlord. Bradford Cos’ Jim Ferris repped the tenant.
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Audatex leased 15k SF in Solana at 7 Village Circle in Southlake from CW Capital. Hudson Peters’ Janice Peters repped the tenant. Chris Taylor and Rodney Helm repped the landlord, CW Capital.
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Standard Motors leased 90k SF at 3609-3611 Pipestone in Dallas. Cassidy Turley’s Frank McCafferty, Blake Anderson, and David Eseke repped the tenant.
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CVE Technology Group relocated its HQ from New Jersey to Enterprise Business Park in Allen. CVE will occupy about 40% of the 196k SF flex-space facility at 915 Enterprise Blvd, which also serves as a service center. Lee & Associates director George Tanghongs represented both the landlord, IndCor Properties, and CVE.
GOOD DEEDS
BOMA Dallas membership and their tenants gathered school supplies and backpacks for the children of 13 sponsored charities. More than 2,000 backpacks filled with school supplies were collected. Here’s Trammell Crow Center’s Sarah Rochester and Jenny Crossland with volunteers Garret Conner and Jared Nash. More than 20 companies participated.
EXECUTIVE PEOPLE
Chad Ricks joined CBRE as SVP. He will originate multifamily and healthcare loans with a focus on FHA-insured debt. He comes to CBRE after nearly 12 years at Love Funding Corp in Dallas and St. Louis.
