In contracts valued at over $20 million, San Diego-based Parallel Capital Partners, Inc. has inked deals with three new tenants, Teknion Data, Informa and Abeam Consulting, leasing over 50,000 square feet of new office space at Urban Towers, a Class AA office complex in Irving. Additionally, Parallel renewed a 22,172-square-foot lease with Verizon subsidiary, Terremark.

Commercial Real Estate

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

Three new tenants in Irving's Urban Towers signed contracts valued at more than $20 million.

To have your transactions and projects included, please send details to Real Estate Editor Bianca R. Montes at [email protected].

Industrial

Ironwood Realty Partners and Scannell Properties have broken ground on plans to develop Denton Crossing, a four-building, 1.5 million square foot Industrial Park. The park will be located off of I-35 in Denton; construction on Phase 1 of the project is expected to deliver the summer of 2020. Ironwood Realty Partners will oversee the leasing of the property.

Future Tech Enterprises, Inc. signed a lease for 23,985 square feet at Jupiter/190 Business Park, 1701 E. Plano Parkway, in Plano. The Landlord, Barings, was represented by Ryan Wolcott and James Mantzuranis of Stream Realty Partners. Gary Lindsey and Cole Collins with NMGKF represented the tenant.

DDC Texas signed a lease for 22,590 square feet at Gateway East Business Center, 4002 W. Miller Road, in Garland. Ryan Wolcott and Matt Dornak of Stream Realty Partners represented the Landlord, Barings.

Easy Ice signed a lease for 15,000 square feet at 1300 Forum Way in Fort Worth. Todd Hawpe with Transwestern represented the Landlord, Floyd Ventures. Brett Carlton and Forrest Cook with Stream Realty Partners represented the tenant.

Alterra purchased 8.5 acres of land on Collett Little Rd in South Fort Worth. Forrest Cook of Stream Realty Partners represented the buyer. Jeff Rein and Seth Koschak, also with Stream Realty Partners, represented the seller, Empire Roofing.

Brio Direct Marketing renewed its lease of 15,000 square feet at Riverbend Business Park in Fort Worth. Keaton Duhon and Jake Neal with Holt Lunsford Commercial represented the Landlord, Riverbend Properties.  Luke Davis and Brett Carlton with Stream Realty Partners represented the tenant.

A 13,000 square foot building located at 3908 Broadway Ave in Haltom City was sold to an undisclosed buyer. Forrest Cook of Stream Realty Partners represented the buyer.

Lonestar PHE Services, LLC, signed a lease for 10,000 square feet at 435 CR 4847 in Haslet. Todd Hawpe, with Transwestern, represented the Landlord, Bylo Properties, LP. George Jennings and Hogan Harrison with Holt Lunsford Commercial represented the tenant.

Sundance Electrical Contracting, Inc. leased 6,000 square feet at Riverbend Business Park in Fort Worth. Keaton Duhon and Jake Neal with Holt Lunsford Commercial represented the Landlord, Riverbend Properties. Dylan Neal, with Mercer Properties, represented the tenant.

Wilkins Innovative Conceptual Designs signed a lease for 2,400 square feet at Riverbend Business Park in Fort Worth.   Keaton Duhon and Jake Neal with Holt Lunsford Commercial represented the Landlord, Riverbend Properties.   Donnie Rohde with Tarrant Properties represented the tenant.

Jetsweep Solutions, LLC leased 2,250 square feet at Riverbend Business Park in Fort Worth. Keaton Duhon and Jake Neal with Holt Lunsford Commercial represented the Landlord, Riverbend Properties.

Divinity Family Services, Inc. leased 1,563 square feet at Quorum West in Fort Worth.  David Cason and Jake Neal with Holt Lunsford Commercial represented the Landlord, Hickman Investments, LTD.   Jim Sager, with Transwestern, represented the tenant.

DY Quik 2 Learn, Inc. renewed its lease of 1,067 square feet at Riverbend Business Park in Fort Worth.   Keaton Duhon and Jake Neal with Holt Lunsford Commercial represented the Landlord, Riverbend Properties.

Multifamily
According to Chris Deuillet, Senior Vice President with CBRE, the buyer has been extremely bullish on the Bishop Arts District and has been heavily involved in the growth and redevelopment of the area for more than a decade.

Bishop Highline, a 118-unit multifamily community, located at 305 and 431 Melba Street in Dallas’ Bishop Arts District, was sold to Dallas-based Exxir. Chris Deuillet and Chandler Sims with CBRE Capital Markets’ Investment Properties represented the seller, Houston-based Urban Genesis.

AAA Homebuilder LLC purchased 3.53 acres at Lake Highlands Drive and Easton Road in Dallas. The development will comprise 18 townhomes, available later this year. Michael Ytem and Robert Grunnah of Younger Partners represented the seller.

Office

Bradford Commercial Real Estate Services was selected by Lakeland West Capital LLC to lease and manage a five-property office portfolio with properties in Fort Worth, the Mid-Cities, and Arlington. Erik Blais, a vice president in the Fort Worth office of Bradford, placed the proposal for the 113,994-square foot portfolio. All properties are for sale, and four are also available for lease. The portfolio includes the following properties:

  • Airport Freeway Plaza, 4200 and 4304 Airport Freeway, Fort Worth
  • 3600 William D. Tate Ave., Grapevine
  • Offices at Bedford West, 221 Bedford Rd., Bedford
  • 4220 W. Green Oaks Blvd., Arlington
  • 701 E. Interstate 20, Arlington

Galleria Office Towers, three Class-A office towers totaling 1.4 million square feet that are located at the intersection of Dallas North Tollway and LBJ Freeway in Dallas, were purchased by Piedmont Office Realty Trust. This deal brings Piedmont’s holdings in Dallas to 3.6 million square feet.

Parallel Capital Partners, Inc. inked deals with three new tenants, Teknion Data, Informa, and Abeam Consulting, to lease over 50,000 square feet of office space at Urban Towers, located in Irving. Parallel also renewed a lease with Verizon subsidiary Terremark for 22,172 square feet in the complex.

The building is the third of five planned Class A office projects in One Bethany at Watters Creek, joining One Bethany East and Netscout at One Bethany, and is slated for completion in early July.

One Bethany West secured its first tenant, with Highlands Residential Mortage signing a lease for 25,735 square feet of office space. The property, which is slated to be completed in July, is located at 950 West Bethany Drive in Allen. Blake Shipley and Chris Doggett of JLL represented the property ownership group, Kaizen Development Partners, in negotiations. Rob Pipkin of Mohr Partners represented the tenant.

Digital Recognition Network signed a lease for 10,183 square feet at Overton Center in Fort Worth. Matt Carthey and Jake Neal with Holt Lunsford Commercial represented the owner, FLDR/TLC Overton Cente, LP.  Jeffrey Eiting of CBRE represented the tenant.

Rouch Architects, LLC subleased the two top floors, 5,196 square feet, of Fountain Place in Downtown Dallas.

Rouch Architects, LLC subleased the top two floors of Fountain Place in Downtown Dallas, occupying 5,196 square feet. Rouch subleased from Tenet Health, which was represented by Kathy Permenter and Sean Dalton with Younger Partners. Jayson Montoya with NAI Robert Lynn represented the tenant.

American Bank of Texas signed a lease for 2,800 square feet of office space at 700 Highlander in Arlington. Geoff Shelton and Marshall Mays of Holt Lunsford Commercial represented the Landlord, 700 Highlander Partners.   Renee Efimoff of SCM Real Estate Services represented the tenant.

TDA Wellness signed a lease for 1,400 square feet in The Berkshire. Holden Lunsford and James Engels of Holt Lunsford Commercial represented the Landlord. Robbie Baty of Cushman & Wakefield represented the tenant.

Business In God renewed its lease of 750 square feet of office space at Bedford Place in Bedford.  Marshall Mays and Alan Rose with Holt Lunsford Commercial represented the Landlord, 1901 Properties, LLC.

Retail

Town Center Colleyville was purchased by Sterling Value Add Partners III LP, a fund managed by Sterling Organization from Velocis of Dallas. The 244,917 square foot retail center is anchored by a Market Street grocer and a Studio Movie Grill.

Oaktree Plaza, a 69,251 square foot shopping center located on South Loop 288 in Denton, has been sold. The shopping center, which is anchored by Walmart, was 98.03% leased at the time of sale. Tommy Tucker, Alex Housewright  &  Cameron  Burk,  of  SHOP  Companies  Investment  Sales, represented the seller, a Texas limited partnership. The buyer was a private investor in a 1031 exchange.

Spec’s is expected to open during the second quarter of 2020. At Cedar Hill Pointe, the retailer joins a line-up that includes Guitar Center, Jason’s Deli, Mattress Firm, Allstate, FedEx Office. Sherwin Williams, Sprint, and several others.

Spec’s Wine Spirits & Finer Foods signed a lease for a 16,770-square foot junior anchor space for a new location at Cedar Hill Pointe, located at U.S. Highway 67 and Pleasant Run Road in Cedar Hill. Michelle Caplan of Weitzman represented Spec’s in negotiations. Blane O’Banion, Michael Sweet, and Scott Smith, also with Weitzman, represented the Landlord. The location is expected to open for business during the second quarter of 2020.

CBD Plus USA signed a lease for 1,925 square feet at Killeen Business Center at 2501 S WS Young Drive in Killeen. The Landlord was represented by Brian Sladek and Tucker Franis of RESOLUT RE. Jeffrey Lewin, also of RESOLUT RE, represented the tenant.

Cricket Wireless leased 1,200 square feet at the Shops at Woodbridge, located at 7900 Woodbridge Parkway in Dallas. Chris Flesner and Brian Sladek of RESOLUT RE represented the Landlord.

 

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