Commercial Real Estate

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

A California-based travel company is taking up three stories in downtown's Renaissance Tower

INDUSTRIAL

John Hancock acquired a 1.4 million square foot distribution center located at 101 Mars Road in Wilmer. Jud Clements, Robby Rieke, and Taylor Starnes of Cushman & Wakefield represented the seller, Principal/CalSTRS. The buyer was self-represented.

Mallory Alexander signed a 252,833 square foot lease in Turnpike Distribution Center 4 at 2150 French Settlement Road in Dallas. Dan Cook and Mark Becker of Cushman & Wakefield represented the tenant. Carter Crow of Younger Partners represented the landlord, Billingsley Company.

Masonite International Corporation signed a 48,100 square foot lease in Great Southwest 56 at 3709 E. Randol Mill Road in Arlington. Dan Cook and Mark Becker of Cushman & Wakefield represented the tenant. Steve Koldyke, Brian Gilchrist, and Kacy Jones of CBRE represented the landlord, Prologis.

Alliance Communication Cables Inc. signed a 35,404 square foot lease in First Garland Business Park at 3901 W. Miller Road in Garland. Rick Hughes and David Eseke of Cushman & Wakefield represented the tenant. Stephen Cooper of NAI Robert Lynn represented the landlord, First Industrial Realty Trust Inc.

Good Faith Energy acquired a 10,400 square foot property located at 13720 Diplomat Dr. in Farmers Branch. Cole Collins of Newmark Knight Frank represented the buyer. Adam Curran of Cushman & Wakefield represented the seller, 4c2 Electrical Associates.

Tuesday Real Estate LLC acquired a 7.14-acre plot of land at 2525 Motor City Blvd. in Dallas. The buyer was self-represented. Dan Cook and Mark Becker of Cushman & Wakefield represented the seller, Werner Trucking Inc.

MULTIFAMILY

Harbor Group International (HGI) purchased a 36-property multifamily portfolio (worth $1.85 billion) from Aragon Holdings, marking the largest multifamily transaction since 2016 and the 5th largest ever. From the portfolio, eight are in Dallas and one in Fort Worth, a total of 3,302 units. Newmark Knight Frank represented Aragon in the sale and HGI for the debt financing. NorthMarq Capital represented Aragon for debt assumptions and defeasance. Meridian Capital Group advised HGI in the transaction.

JPI closed construction financing on Jefferson Rockhill, a Class A multifamily development just off of US-75 in McKinney. The community will feature 354 apartment homes and is expected to open in Summer 2021.

OFFICE

ThyssenKrupp Elevator Corporation signed a 218,312 square foot lease renewal at 3201 N. Sylvania in Fort Worth. Rick Hughes of Cushman & Wakefield represented the tenant. James Whitney represented the landlord, Sylvania Industrial Park Inc.

TripActions, a California-based travel company, has leased 88,290 square feet of office space at Renaissance Tower in downtown Dallas. The company will occupy the top three floors of the 56-story building, located at 1201 Elm Street. Clay Gilbert, Dennis Barnes, and Ben Davis with CBRE in Dallas represented the landlord, and Whitebox Real Estate represented TripActions in negotiations.

Regent Aerospace Corporation renewed its 73,580 square foot lease at 5200 E. Grand Ave. in Dallas. Canon Shoults and Josh Barnes of Holt Lunsford Commercial represented the landlord, Frontier Equity.

Contract Datascan LP signed a 34,560 square foot lease in Frankford Trade Center 12 at 2941 Trade Center Dr. in Carrollton. Cribb Altman of Cushman & Wakefield represented the tenant. Mitch Pruitt represented the landlord, Prologis.

Splunk Inc. signed a 28,000 square foot lease expansion in Gateway @ Legacy at 6860 Dallas Pkwy. in Plano, bringing their total leased space to 110,762 square feet. Jim Graham and Tyler Howarth of Newmark Knight Frank represented the tenant. Trey Smith and Lauren Napper of Cushman & Wakefield represented the landlord, Equus Capital Partners Ltd.

DoctorLogic signed a 12,013 square foot sublease at 6509 Windcrest in Plano. Scott Hage of JLL represented the subtenant. Charlie Beck and Travis Boothe of Cushman & Wakefield represented the sublandlord, Accruent Inc.

RETAIL

SHOP Companies Investment Sales team sold eight multi-tenant properties throughout DFW, including Southgate Shopping Center: A 40,214 square foot shopping center located in Arlington; Keller Marketplace II: A 12,352 square foot retail center located on Keller Parkway (FM 1709) in Keller; Grand Central Crossing: A 7,556 square foot retail asset located in Grand Prairie; Weatherford Strip Center: A 10,842 square foot retail strip positioned within a thriving retail corridor approximately 30 minutes west of Fort Worth in Weatherford; MOD Pizza, Palm Beach Tan & Luxx Nail Salon: A 9,919 square foot retail asset located in the DFW submarket of Burleson; Kelly Plaza Shopping Center: A 9,012 square foot retail strip shadow-anchored by Walmart in Royse City; Summer Creek Plaza: An 8,705 square foot retail center across from Walmart Neighborhood Market in Fort Worth; and Woodmont Plaza: An 86,816 square foot shopping center located in Fort Worth.

A 75,570 square foot retail center in Denton was sold. Tim Axilrod, of SHOP Companies investment sales team, represented the Seller, a Texas limited partnership. The Buyer was a New York private trust.

Uptown Center

Uptown Center, a 22,816 square foot retail property located in Cedar Hill, was sold. Philip Levy, an investment specialist in Marcus & Millichap’s Dallas office, represented the buyer and seller.

 

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