The most recent count shows there are 52 Sonder units up and running in Dallas. The second floor of Cedars Corner will add 14 more units to its rapidly expanding portfolio of short-term rentals in the city.

Commercial Real Estate

Deal Ticker: DFW’s Top Leases, Sales, and New Projects

New Airbnb-style rental concept leases vintage building in Dallas' Cedars

RENTALS/MULTIFAMILY

Sonder USA has inked a 5,943 square-foot full-floor lease in Dallas’ Cedar to add 14 more units to its rapidly expanding portfolio of short-term rentals in the city. The units at Cedars Corner, 1108 Akard St., will be available in February. Josh Meraz, a broker associate of Bradford Commercial Real Estate Services, is working with Michael A. Merryman, Sonder’s head of real estate agent in Dallas. Jake Sherrington of SHOP Cos. represented the landlord, JSK Cedars Corner LP.

Multifamily Group facilitated the sales of two multifamily properties representing 183 units in two cities. Managing Director Paul Yazbeck, along with Jon Krebbs, Bryce Smith, and Chibuzor Nnaji Jr. negotiated the following deals: Cedar Ridge Townhomes, a 124-unit community in Arlington was sold on behalf of a Houston based investment group; Casa Del Mar, a 59-unit community in Garland was sold on behalf of an Arizona based investor.

Marcus & Millichap sold The Apartments at Fountains Corner, a 418-unit multifamily asset in Fort Worth. Al Silva, senior managing director investments in Marcus & Millichap’s Fort Worth office, represented the seller, Dallas-based WAK Management, and procured the buyer, a Texas-based private investment group. Brian Adams, senior director with Marcus & Millichap Capital Corp. in Dallas, arranged the financing.

COMMERCIAL

Whitebox Real Estate sold a 24,752 square feet portfolio on Canton Street in Deep Ellum. The sale also includes a 12,502 square foot parking lot. Matthew Otte and John-Michael McGee with Whitebox Real Estate along with Jeff Swaney of Delphi Group represented the local owner/seller. Additionally, the out-of-state buyer was represented by Scott Lake of Davidson Bogel Real Estate.

INDUSTRIAL

Vital Pharmaceuticals leased an additional 217,000 square feet to their logistical footprint at Everman Trade Center Building A, located at 160 W Everman Freeway. JLL’s Jamie Galati and Sky Groden represented Vital Pharmaceuticals, Inc. in the lease negotiation. Holt Lunsford Commercial’s Matt Carthey and Thomas Grafton represented the landlord, Everman Trade Center, L.P.

Ashley Furniture sold a 213,630-square foot industrial property located in Grand Prairie. Located at 502 Fountain Parkway, Texas, the subject property is situated on 11.49 acres of land and was built in 1979 and renovated in 1995. Adam Abushagur, industrial specialist and first vice president investments in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also procured by Adam Abushagur.

Tosca Services, LLC leased 152,000 square feet at Gateway East Business Center, 4009 Distribution Drive in Garland. Ryan Wolcott and Matt Dornak with Stream Realty Partners represented the landlord, Barings. Louis Pascuzzi, with NMGKF, represented the tenant.

Prologis Freeport Corporate Center leased 111,012 square feet at Prologis Freeport Corporate Center, located at 9250 North Royal Lane. JLL’s Caleb McCoy and Matt Bracco represented Waterlogic in the lease negotiation. Prologis’s Michael Flowers represented the landlord.

Ying Yang Ayaia leased 11,150 square feet of office space at 4103-B Lindbergh Dr., Addison, from Gardenbrook Industrial LLC. Brian Pafford, senior vice president and managing partner of Bradford Commercial Real Estate Services, and Susan Singer, executive vice president, represented the landlord. Shenglin Joy Selinger of Guo Realty represented the tenant.

Softalyer Technologies, Inc. leased 105,198 square feet at Plano Parkway/190 Business Center, 1700 Summit Avenue, in Plano. Ryan Wolcott and Matt Dornak with Stream Realty Partners represented the landlord, Barings. Clay Vaughn with CBRE represented the tenant.

Stream Realty Partners leased 8,794 square feet at Fossil Creek Tech Center in Fort Worth. Tenants include Circle L Solar and Terry Builders. Stream’s Forrest Cook and Jeff Rein represented the landlord, Fort Capital.

Sonder USA leased 5,942 square feet of retail space in Cedars Corner, 1108 S. Akard St., Dallas, from JSK Cedars Corner LP. Josh Meraz, a broker associate of Bradford Commercial Real Estate Services, represented the tenant. Jake Sherrington of SHOP Cos. represented the landlord.

MEDICAL

Pavilion Properties, a real estate holding company, owned by Methodist Health System of Dallas, has completed its acquisition of the 120,000-square-foot, two-story medical office building located at 3001 President George Bush Tollway, Richardson, adjacent to Methodist Richardson Medical Center (MRMC). Dallas-based real estate advisory Citadel Partners represented Methodist, facilitating the acquisition of the building from Pillar Commercial who, in August 2019, acquired the 240,000 square feet comprising the two-buildings of the Richardson Office Center.

RETAIL

Beltway Properties purchased Kimball Oaks shopping center, a 126,561 shopping center in Southlake this past summer from Strode Property Company. DIG (Disney Investment Group) represented the seller and procured a buyer.

JN Properties purchased Towne North, a 124,289 square foot shopping center in Irving this past August from HSM Equities. DIG represented the buyer, and the seller was self-represented.

 

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