The Week in Deals
KUDOS
CREW Fort Worth honored members last week at its March meeting including naming Southwest Bank VP Joy Norton (right, with CREW Fort Worth prez GL Seaman & Co’s Connie Blake) as member of the year. Tarrant County College District vice chancellor of real estate and facilities Ablon Head Jr was awarded the corporate leadership award; Frost Bank was named sponsor of the year; and Community Bank VP/SBA manager Diann Brewer was presented the excellence in leadership award.
SALES
Venture Commercial’s Edward Bogel, David Davidson Jr, and Ken Reimer worked several deals including the sale of 27 acres at the intersection of Heritage Trace Parkway and Beach Street in North Fort Worth. The sale includes 12 acres on the southeast corner to Walmart for a Walmart Neighborhood Market, and 15.4 acres on the northeast corner to a medical developer. The trio repped the seller, Hillwood Communities. The Tom Hudson Co represented Walmart Real Estate Business Trust.
Other deals include:
•Jackson-Shaw sold a three-acre pad site on the northeast corner of SH 121 and Morning Star Drive in The Colony. The trio represented the seller. Venture’s Larry Leon, Kelly Hampton, and Ross McCook represented the buyer, Luby’s Fuddruckers Restaurants, who will develop the site for a Cheeseburger in Paradise restaurant.
•The trio represented the buyer of Katy Crossing, a 17k SF shopping center at 5801 Golden Triangle Blvd in Fort Worth. Stamar Management Corporate’s Mark Railey represented the seller.
•Providence Bank of Texas purchased a two-acre pad site at 10740 Old Denton Rd in Fort Worth. The trio represented the seller. Mark A. Howe Enterprises’ Mark Howe represented the buyer.
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Constellation Real Estate sold 1.43 acres of industrial-zoned land at 4800 Eden Rd in Arlington to Carbon-Carbon Advanced Technologies of Kennedale. Bradford’s Brendan Smith represented the seller in the direct deal.
EXECUTIVE PEOPLE
Brent Habeck and Jonathan Lauren joined The Howard Hughes Corp’s leasing team. Brent will be EVP of strategic leasing. He comes to the firm from Westfield Corp. Jonathan joins as VP of leasing.
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Eric Padilla joined Cresa Dallas as SVP of project management. Eric brings more than 25 years of tenant focused construction management experience.
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Citadel Partners added Karla Allford as client services coordinator. Most recently, Karla worked at Colliers International as a business development director.
NEW BUSINESS
Construction started on the 1.6M SF spec industrial project, Trammell Crow 35/Eagle, at the NW Corner of I-35W and Eagle Parkway in northeast Fort Worth. On 314 acres, the project is being developed by Trammell Crow Co and JV partner, Prudential Real Estate Investors. Completion is expected late this year and full build-out of the park will include more than 4.2M SF of office, retail, and industrial product. Jordan Foster is the GC. Here’s TCC’s Jake Marks, CBRE’s Steve Trese, TCC’s Scott Krikorian, Fort Worth mayor Betsy Price, and CBRE’s Bob Scully at the recent groundbreaking.
FINANCING
PCCP provided a $41.5M senior loan for the recapitalization and lease-up of One City Place at 300 Throckmorton St to an affiliate of Spire Realty Group. Spire acquired the City Place development in 2011, investing significant capital to completely renovate One City Place, which was left vacant and in shell condition by the previous ownership. HFF Houston’s Wally Reid and Corby Chaffin arranged the financing for Spire.
