Construction on McKinney Corporate Center Craig Ranch will begin in early 2021 with an expected completion date of early 2022. The listing broker for the project is James Craig, president of Craig International and the architect is Mark Pross with Pross Design Group.

Deal Ticker

Deal Ticker: Construction Company Moves Headquarters to McKinney’s Craig Ranch

Plus $30 million multifamily community planned in Garland, Preston Center tower up for grabs, Carrollton manufacturer doubles space, and more.

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

DEAL OF THE WEEK

RPM xConstruction has chosen McKinney Corporate Center Craig Ranch as its new corporate headquarters. The construction services firm will build a three-story 90,000 square-foot office building on Meyer Way, just north of Henneman Way, to house its corporate staff and field personnel of 750-plus employees. The firm is relocating from its current site at 5208 Tennyson in Plano and had also purchased land in Frisco for a potential headquarters before choosing McKinney Corporate Center Craig Ranch. Construction on the project will begin in early 2021 with an expected completion date of early 2022. The listing broker for the project is James Craig, president of Craig International and the architect is Mark Pross with Pross Design Group.

PERMITS

Parkland Redbird has filed a permit for the interior fit-out of its clinic and medical office at the southern Dallas redevelopment project. Construction on the $10.8 million project will begin in October and is expected to be completed by April 30, 2021. OMNIPLAN is leading the design.

Holt Lunsford Commercial has filed a permit to build a new 174,720 square-foot industrial development consisting of two shell warehouses at Richardson Shiloh Industrial, 3100 Shiloh Road in Richardson. Construction on the $7.5 million project will begin in October and is expected to finish by September 2021. RGA Architects is leading the design.

DHL has filed a permit to construct a 4,151 square foot office space with various warehouse improvements at Northwest Commerce Park Building, 2749 SH 114 W in Fort Worth. Construction on the $2.8 million project is expected to wrap up this December. RGA Architects is leading the design.

JKLR Allen Land filed a permit to build a new leasing office at an and 31 live/work units at Watters Urban Residential Development in Allen. Construction on the $2.75 million project (25,878 square feet) will start in November and is expected to be completed by May 31, 2022. JHP Architecture/ Urban Design is leading the design.

INDUSTRIAL

TA Realty purchased a 395,880 square-foot warehouse anchored by Cooper Tires at 2155 Interstate 20 in Grand Prairie from Mohr Capital. Jonathan Bryan of CBRE represented the seller.

Swiss American is expanding its operations with a 131,760 square-foot industrial facility at 1540Luna Road in Carrollton. The company has a nearby operation of almost 266,000 square feet.

Earl Owen leased 100,100 square-feet at 1135 W. Trinity Mills Road in Carrolton. Adam Graham of Lee & Associates represented the landlord. Corbin Blount of Lee & Associates represented the tenant.

Elliott Electric Supply leased 54,600 square feet at Pioneer 360 Business Center in Arlington. Matt Dornak and Luke Davis with Stream Realty Partners represented the landlord, Black Creek Group. NAI Robert Lynn represented the tenant.

Rodeo Plastic Bag & Film leased 69,559 square feet at 1100 Chase Road in Mesquite. Conrad Madsen and Greg Nelson of Paladin Partners Commercial Real Estate Services represented the landlord. Matt Dornak of Stream Realty Partners represented the tenant.

CKS Packaging leased 15,413 square feet at 2820-2828 Merrell Road in Dallas. George Billingsley with Billingsley Co. represented the landlord, CB-Merrell, L.P. Ryan Boozer and Lena Pierce with Stream Realty Partners represented the tenant.

Lucky 7 M & M Partners Tarpley sold a 10,000 square-foot industrial building to Vintex Holdings, 2433 Tarpley Rd in Carrollton. Transwestern’s Matt Hurlbut represented the buyer. Mark Miller and Tyler Tillery with NAI Robert Lynn represented the seller.

MULTIFAMILY
Lakeview Point
Lakeview Pointe Apartment Homes

OM Housing has developed and will soon break ground on a new 112-unit, $30 million multifamily community known as Lakeview Pointe Apartment homes, 3102 Zion Road in Garland.  The 122,000 square-foot Lakeview will be a mixed-income project with over a third of the units at market rate. The community will utilize housing tax credits from the Texas Department of Housing and Community Affairs (TDHCA) in conjunction with financing. The architect for Lakeview Pointe is HEDK Architects, and the general contractor is Spring Valley Construction. The project is expected to be completed in Fall 2021.

Vine Apartments

CONTI has added a new apartment community to its portfolio. The real estate investment firm has purchased Vine Apartments, a 420-unit complex at 711 Trinity Circle in Arlington. Built in 1980, Vine consists of 23 three-story, garden-style buildings covering approximately 21 acres. The transaction marks CONTI’s 43rd acquisition in Texas since 2008 and brings the current portfolio to 31 properties and more than 9,000 units.

The Dylan

The Dylan, a Dallas apartment community, sitting on 3.3 acres on Cedar Spring Road, has sold. Drew Kile, Will Balthrope, and Joey Tumminello of Marcus & Millichap’s Institutional Property Advisors brokered the transaction between the seller, Crow Holdings Capital, and procured the buyer, SPI Advisory.

OFFICE

Sherry Lane Place tower in Preston Center is up for sale. Cushman & Wakefield is marketing the 300,000 square-foot building to potential buyers. It has been owned by a New York-based real estate investment partnership since 2006. Major tenants include Bank of Texas, Raymond James and Associates, Unity Hunt, and the Park Cities Club.

Stonebrook Office 1, an 86,744 square-foot Class A building in Frisco, is up for sale. The three-story building is nearly 70 percent leased. Colliers International is marketing the property.

NextBank extended its 27,733 square-foot lease at Chateau Plaza, 2515 McKinney Ave. in Dallas. Rhett Miller, Sara Terry with Stream Realty Partners represented the landlord, Chateau Plaza Holdings. NexVest Realty Advisors represented the tenant.

Biel Fisette Lacono leased 8,102 square feet at 8111 LBJ Freeway in Dallas for seven years. Jessica Cyphers represented the landlord, Hartman Income REIT.

Texas Health Urgent Care has signed a 3,200 square-foot lease at Windsor Ridge Crossing, FM 2499, and Windsor Ridge Drive in Flower Mound. David Levinson and Mitch Traub of The Retail Connection represented the landlord, Windsor Ridges Retail Partners. Ruan Mandrell of JLL represented the tenant.

Newsletter

Sign up now to get breaking commercial real estate news and industry reports from the D CEO editors, plus on-the-ground insights from nearly 100 contributing editors across all sectors.

Comments