Jefferson Boardwalk is part of a five asset multifamily portfolio recently sold by JPI.

Commercial Real Estate

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

JPI announces largest single transaction in 15 Years, Amazon plans 1 million square-foot fulfillment center, the Biscuit Bar opens in Mule Alley, and more.

Share your top deals by emailing Real Estate Editor Bianca R. Montes at [email protected].

PERMITS

A construction permit has been filed to build a 105,660 square-foot two-story office complex at 5215 Bear Creek Court in Irving. The project, which is estimated to sort just under $5 million, will begin construction in October and is expected to be completed by June 2021. Powers Brown Architecture is leading the design.

Regency Centers has filed a permit to build a 53,540 square-foot retail shell building at 10720 Preston Road in Dallas. The project is expected to begin this November and cost $7 million. Construction should be complete by June 2021, and Hodges Architecture is leading the design.

Eldorado Developments has filed a permit to build a 17,000 square-foot retail shell building at the Shops of Eldorado in Frisco. Construction is scheduled to begin Sept. 15 and should be completed by Nov.15. No design firm was listed.

INDUSTRIAL

Amazon is building a 1-million square-foot fulfillment center in Forney. The new fulfillment center is expected to employ 500 and is anticipated to launch in 2021. Amazon is also planning a new 200,000 square-foot delivery station in Forney, which is scheduled to start later in 2020.

Carrier Enterprise extended its 66,721 square foot lease at Parc North – Building 4, 5051 N. Sylvania Avenue, in Fort Worth. Brett Carlton, Forrest Cook, and Seth Koschak with Stream Realty Partners represented the landlord, EastGroup Properties, L.P. CBRE,  represented the tenant.

All-Tex Supply renewed its 31,105 square foot lease at Manana 35 Business Center, 10790-10804 N. Stemmons Freeway, in Dallas. Drew Feagin and Todd Poticny with Stream Realty Partners represented the landlord, Ranger D-TX LP. Ryan Boozer and Lena Pierce with Stream Realty Partners represented the tenant.

Composite Panel Technology signed a lease extension for 15,000 square-feet with Link Industrial Properties at 4125 Billy Mitchell Drive in Addison. Transwestern’s Tim Veler and Brett Owens represented the landlord, Link Industrial Properties. Adam Curran of Cushman & Wakefield represented Composite Panel Technology.

Maxdao leased 11,792 square-feet at Jupiter Business Park – Building 5, 2532 Summit Avenue, in Plano. Ryan Wolcott and James Mantzuranis with Stream Realty Partners represented the landlord, Ranger DRA Advisors. Sunet Group represented the tenant.

Schlage Lock Company renewed its 7,192 square foot lease at 5200 Tennyson with KBS Realty Advisors. Transwestern’s Kim Brooks and Justin Miller represented the landlord.

Freight Operations Services purchased a 2,700 square foot industrial building at 2725 West Hunter Ferrell Road, in Grand Prairie. SLG Commercial represented the buyer. Hanes Chatham with Stream Realty Partners represented the seller, J2K Property Management Investments, Inc.

Dark Horse Utilities, Concrete & Site-Work leased 2,303 square feet at 651 N Plano Road in Richardson. DeMarcus Owens represented the landlord, Hartman Income REIT.

MULTIFAMILY

Five Dallas-Fort Worth multifamily communities have sold to an affiliate of Lone Star Funds—representing the most significant single transaction in 15 years for JPI. The purchase agreement includes just under 2,000 units: Jefferson West Love in Dallas, Jefferson Boardwalk in Farmers Branch, Jefferson Eastshore in Irving, and Jefferson Reserve and Jefferson Vantage in Richardson. Institutional Property Advisors, Walker Dunlop, and JLL each served as the brokers for this transaction. An IPA team of Drew Kile, Will Balthrope, Joey Tumminello, and Grant Raymond represented the seller.

The Colony

The Colony, a 179-unit multifamily asset in Irving, has sold. Al Silva of Marcus & Millichap represented the seller, Florida-based Capital Vision Management, and the buyer, a Dallas-based private investment group. Ford Braly, a member of the Silva multifamily team of Marcus & Millichap, assisted with the transaction.

St. Charles Place, a 125-unit property at 1090 S. Charles St. in Lewisville, has sold. Mark Allen and Chibuzor Nnaji, both of Greystone ISG, represented the seller and procured the buyer.

Cambridge Court, a 52-unit property at 1301 US-287 in Waxahachie, has sold. Todd Franks, with Greystone ISG, represented the seller, who is local to DFW, while Byron Griffith, with Greystone ISG, procured the buyer.

OFFICE
Comerica Bank Tower Dallas at Night
Comerica Bank Tower

Faegre Drinker renewed its 37,179 square foot lease at Comerica Bank Tower. Faegre Drinker is the result of the new combination of law firms Drinker Biddle & Reath and Faegre Baker Daniels as of February. Daryl Mullin, Jon McNeil, and Greg McCavera of JLL negotiated the lease with Mike Silliman of M-M Properties.

G2 Secure Staff extended its 11,315 square foot lease at Canal Centre, 400 E. Las Colinas Blvd. in Irving. Lucas Kay, Garrett Gibbons Jr., Reggie Beavan III, Andy Iverson, Chris Mason, John Beach, and Trace Elrod of Newmark Knight Frank represented the tenant. Sunwest Real Estate Group represented the landlord.

Action Behavior Center leased 5,437 square feet at 3550 Parkwood Drive in Frisco. Court Powell of Structure Commercial negotiated the lease.

Angel Oak Home Loans leased 3,789 square feet at 4500 W. Eldorado Parkway in McKinney. Colliers International’s Occupier Services practice group of Anthony Chammah, Mary Stoner Yost, and Sam Strickland represented the tenant.

Striped Box Boutique leased 1,455 square feet at 5566 Main St. in Frisco. Kelly Lyons, with TIG, represented the tenant. World Cup Management represented the owner.

RETAIL
Kiddie Academy’s future location in Murphy.

Kiddie Academy has leased land on the northwest quadrant of FM 544 and McCreary Road in Murphy. Britton Lankford of Bright Realty represented the landlord, Bright Realty, in the transaction. Grant Gary with The Woodmont Company represented the tenant.

Whirly Ball renewed 19,050 square feet at 147 E. Harwood Road in Hurst. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

Ace Hardware lease 18,233 square feet at 2110 S. Cooper St. in Arlington. Troy Morgan of Structure Commercial negotiated the contract.

McKinney Shopping Center

McKinney Shopping Center, a 15,127 square-foot property at 2775 S. Central Expressway in McKinney, has sold. Philip Levy of Marcus & Millichap represented the buyer and seller.

Volcanos Sports renewed 10,079 square feet at 125 E. Harwood Road in Hurst. Eric Deuillet of Structure Commercial negotiated the lease.

Dollar Tree leased 9,983 square feet at 2739 W. 15th St. in Plano. Eric Deuillet of Structure Commercial represented the landlord, and Jim Weir of The Retail Connection represented the tenant.

Kiss It Good Buy Consignment leased 9,054 square feet at 190 Franklin Street in Grapevine.  Eric Deuillet of Structure Commercial negotiated the lease.

Hilltech Properties purchased a newly constructed 7,430 square-foot center at 6728 W. Vickery Blvd. in Fort Worth. Court Powell & Jake Burns of Structure Commercial negotiated the sale.

Social Project Dallas leased 7,000 square feet at 1425 E. Beltline Road in Richardson. John Hiller and Eric Deuillet of Structure Commercial represented the landlord, and Maury Levy of CBRE represented the tenant.

Spirit Halloween has leased 6,895 square feet at the Former Advance Auto, 5414 Rowlett Rd in Rowlett. Jeff Lewin and Stephanie Jacobs of RESOLUT RE represented the landlord.

Salones Belaire leased 6,847 square feet at 3030 N. Josey Lane in Carrollton. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

Progresso Jiu-Jitsu leased 6,540 square feet of retail space at 3000 Custer Road in Plano.  Eric Deuillet of Structure Commercial negotiated the lease.

Powell Real Estate purchased a 6,238 square-foot investment at 2151 & 2171 N. Beltline in Mesquite. Eric Deuillet and John Hiller of Structure Commercial represented the seller, and Court Powell of Structure Commercial represented the buyer.

Ford & Sons Real Estate Investors purchased the 6,000 square-foot freestanding building at 1604 W. Northwest Highway in Dallas.  The property is leased by Fat Dog Wine and Spirits, a subsidiary of Spec’s.  Eric Deuillet and Troy Morgan of Structure Commercial represented the seller, and Greg Woodring of Kay Commercial represented the buyer.

Heidi’s Salon leased 5,135 square feet at 120 N. Main Street in Grapevine. Eric Deuillet of Structure Commercial negotiated the lease.

The Biscuit Bar is opening a new location at Mule Alley in the Fort Worth Stockyards, 122 E. Exchange Ave.

Quality Based Learning Center leased 3,460 square feet at Eastgate Plaza in Garland. John Hiller and Scott Rose of Structure Commercial negotiated the lease.

Smoothies & Coffee has leased 2,000 square feet at the Shops at Three Eighty, 2281 E University Dr. in Prosper. Brian Sladek and Chris Flesner of RESOLUT RE represented the landlord. Jerrod Simmons of Biel Partners represented the tenant.

Feed Me Pronto leased 1,600 square feet at 5639 Bell Ave. in Dallas. Jill Tiernan, with The Retail Connection and Kathleen Nash with W. Inc., co-represented the tenant. Jon Hetzel and Nate Jackson with Madison Partners Realty represented the landlord, Bell Avenue Holdings.

 

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