Deal Ticker: International Restaurant Brand Bonchon Relocates NYC Headquarters to Dallas

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Bonchon, the internationally revered restaurant brand known for its Korean fried chicken, announces the relocation of its New York City headquarters to Dallas by Jan. 1, 2021. The company’s move to Dallas aligns with plans to build a bigger retail footprint in Texas. Bonchon expects to open its first company-operated fast-casual Dallas restaurant in Addison in February of 2021 and anticipates another three to four openings, including a delivery and carryout only location, in Texas within the year.

Bonchon’s corporate office transition will result in a more centralized location to better serve franchise partners on both coasts while creating new opportunities for candidates in the Dallas region and allow existing New York employees to transition to Dallas or work remotely. Bonchon has already begun hiring in Dallas and expects to add about 20 new team members for the corporate office at 15660 Dallas Parkway. That number is expected to grow over the next several years.

Founded in South Korea in 2002 and established in the United States in 2006, Bonchon, Korean for ‘my hometown,’ currently has more than 100 U.S. restaurants, including one in The Colony.

INDUSTRIAL/LAND

Tuesday Morning has sold its local headquarters at 6250 LBJ Fwy. and three area warehouses for $60 million. The buyer is Miami-based Rialto Capital. The deal will close by the end of the year. Tuesday Morning is closing 230 stores across the country. That’s roughly one-third of its total portfolio.

RGH Real Estate Holdings purchased a 412,000-square-foot industrial building at 1206 5th Street in Comfort. Ryan Boozer, Jeremy Kelly, and Lena Pierce with Stream Dallas, Mackenzie Ford, with Stream OC, and Kevin Cosgrove, with Stream Central TX, represented the buyer. Russell Noll, with Transwestern, represented the seller, WINRE LLC.

Seefried Industrial Properties has filed a permit to build a 141,360-square-foot warehouse at Shiloh Road and Breckinridge Boulevard in Richardson. Construction on the $19.5 million building will begin this December and complete in August 2021. PDMS Design Group is the listed design firm.

Johnson Development Associates, Inc., has announced plans to develop Forum Commerce Center, a 129,450-square-foot Class A industrial building located in the Great Southwest submarket of Arlington. David Eseke and Clay Balch of Cushman & Wakefield have been retained to oversee the property’s leasing.

Ponder Property has sold its 100,000-square-foot building and 23.23 acres at 100 East FM 2449 in Ponder (Denton County). Dan Spika of the Industrial Division for Henry S. Miller Brokerage represented the seller. The buyer was Ferti Management Corporation of Saint-Michael, Quebec, Canada.

Robert G. Brown has sold 4.75 acres at 2002 Wheatland Rd. in Lancaster to SOTO Fleet Service Inc. Kyle Espie of Bradford Commercial Real Estate Services represented the seller in the direct deal.

Displays, a 58,016-square-foot industrial property at 626 106th Street in Arlington, has sold. Adam Abushagur and Sam Martin with Marus & Millichap represented the seller, a private investor.

McKinney Metro Storage has filed a permit to build a 33,000-square-foot RV storage building at 414 Metro Park Drive in McKinney. Construction on the $2 million build is expected to begin in January and complete in August 2021. Hub City Productions is the listed design firm.

Intelligent Mexican Marketing renewed 24,192-square-feet at Pioneer 360 Business Center in Arlington. Matt Dornak and Luke Davis with Stream Realty Partners represented the landlord, Black Creek Group. Avison Young represented the tenant.

Ansco & Associates extended 10,000-square-feet at Airport Distribution Center in Louisville. Commercial Kentucky represented the landlord, Airport Distribution. Eric Crutchfield with Stream Realty Partners and Matthew Hartlage with Jones Lang LaSalle represented the tenant.

VIZIO Services leased 7,405-square-feet at Quorum Place in Dallas. Brandon Terrell, Chase Lopez, and Ryan Evanich with Stream Realty Partners represented the landlord, G&I VIII Quorum Place L.P. Longo Commercial Advisors represented the tenant.

Fresh Baked Cookie Crate has leased 5,846-square-feet of flex space in Story Business Center, 3040 W. Story Rd. in Irving, from Americo Story LP. Jason Finch and Michael W. Spain of Bradford Commercial Real Estate Services represented the landlord. Andrew Wilson of LanCarte Commercial represented the tenant.

HOPE Coffee has leased 3,022-square-feet of office/warehouse space in Shiloh Business Center, 3884 S. Shiloh Rd. in Garland, from Perth Properties Inc. Melanie Hughes and Elizabeth Hooper of Bradford Commercial Real Estate Services represented the landlord in the direct deal.

MULTIFAMILY

Hines has filed a permit to build Hines Maple Terrace at 3001 Maple Avenue, Uptown’s nearly century-old Maple Terrace apartments. The $96.5 million project will include a 21-story building over an 8-story parking garage and 345 residential units. The firm has also filed a $27 million permit to build a 7,749-square-feet office at the site. Construction is expected to begin in the first quarter of 2021 and wrap up in August 2023. GFF is leading design.

Wood Partners recently closed on a new property on South Forum Drive in Grand Prairie. Once complete, the new community–tentatively called Alta 161–will include 322 units comprised of one-, two- and three-bedroom apartment homes. Construction is set to begin in November with an estimated community opening date of late 2021.

Bella Vista Creek, a 272-unit, Class B multifamily community located at 3402 S. Buckner Blvd. in Dallas, has sold. Austin-based GVA Management purchased the property from Canada-based AmeriCan Multifamily Alliance Group led by Patrick and Madeleine Gergen. Chris Deuillet and William Hubbard with CBRE Capital Markets’ Investment Properties in Dallas and Jeff Kunitz and Mike Canori with CBRE Affordable Housing in Seattle represented the seller. GVA Management already had a significant presence in the Dallas-Fort Worth market as they currently own and manage over 1,200 units in multiple complexes in the area.

Heritage Park, a 204-unit apartment asset in Arlington, has sold. Drew Kile, Joey Tumminello, and Grant Raymond, in collaboration with Marcus & Millichap’s Bard Hoover and Nick Fluellen, represented the seller, American Landmark, and procured the buyer, WAK Management Company.

OFFICE

Trinity Real Estate Investment Services (Trinity REIS) has leased 6,500-square-feet at PROOF, a 40,665-square-foot newly renovated building located at 901 W. Vickery Blvd. in Fort Worth. Cullen Donohue, along with Vic Meyer of Stream Realty Partners’ Fort Worth office, represented the landlord, M2G Ventures. Albert Berry with Tenant Base represented Trinity REIS.

Capital Title of Texas signed a new 5,550-square-foot lease with 1 Stratford, LLC at 18383 Preston Rd in Dallas. Transwestern’s Chris Lipscomb, Kim Brooks, and Laney Underwood represented the landlord. LJ Erickson of Duggan Realty Advisors represented the tenant.

Airrosti Rehab Center leased 1,593-square-feet at Las Colinas Office in Irving. Carley Keiser of TIG Real Estate Services represented the landlord, EK Collections. Crystal Jutte of Mohr Partners represented the tenant.

Pirwig Properties leased 1,390-square-feet at 5750 Genesis Court in Frisco. Kelly Lyons and Carley Keiser of TIG Real Estate Services represented the landlord.

RETAIL

 



7-Eleven has opened its second evolution store in the Dallas-Fort Worth market. The store is located at 9750 Walnut Hill Lane at the corner of Audelia Road in the Lake Highlands area and is only the second in Dallas, following the store at Sylvan | Thirty, and the fifth in the country.

Lamar Lotz leased 40,465-square-feet of retail space at 1715 E. Lamar in Arlington. Troy Morgan and Scott Rose of Structure Commercial negotiated the lease.

Fallas Discount Store purchased the 24,852-square-foot retail building at 2551 & 2555 Ephriham in Fort Worth.  Troy Morgan and Rob Exline of Structure Commercial represented the buyer, and Shawn Ackerman of Henry S. Miller represented the seller.

Regal Furniture leased 8,650-square-feet of retail space at 3330 N. Galloway Avenue in Mesquite. John Hiller and Eric Deuillet of Structure Commercial represented the landlord, and Troy Morgan of Structure Commercial represented the tenant.

LTCC Properties purchased 8,168-square-feet of retail space at 2008 North Highway 121 in Bonham. Troy Morgan of Structure Commercial represented the buyer, and Phillip Levy of Marcus and Millichap represented the seller.

The largest Hand & Stone Massage will open in Arlington in early 20201 with its Lincoln Square storefront relocation. The spa has leased 5,000-square-feet in Fielder Plaza. Michael Sweet with Weitzman handled negotiations as the exclusive leasing agent for the shopping center.

Primo’s MX Kitchen & Lounge, which has opened locations in Uptown and downtown Dallas this year, is about to reach another part of town by opening a new location in the North Dallas/Preston Hollow area. At 8611 Hillcrest Road (in the former Nosh Bistro space), Primo’s Hillcrest will open Monday, Nov. 23.

Sway Dance Center leased 4,000-square-feet of retail space at 401 W. President George Bush Hwy. in Richardson. Jeremy Cummings and Eric Deuillet of Structure Commercial represented the landlord, and Edge Realty Partners represented the tenant.

Whataburger has filed a permit to build a 3,697-square-foot restaurant at 382 E. US Highway 80 in Sunnyvale. Construction on the $1.594 million build will begin in January and complete by April 2021. Heights Venture Architects is leading design.

Cool Drinks has subleased 2,555-square-feet at 331 E U.S. Highway 377 in Granbury. Stephanie Jacobs and Mai Nguyen of RESOLUT RE represented the sublessor.

A 2,500-square-foot Shell at 2801 N. Fitzhugh Ave. in Dallas has sold. Joe Santelli of Marcus & Millichap represented the buyer and seller.

Herbalife has leased 1,439-square-feet at Woodmont Plaza North, 6200 McCart Ave in Fort Worth. Colin Cannon and Brian Sladek of RESOLUT RE represented the landlord.

Dr. Kenneth Killen MD leased 1,260-square-feet of retail space at 10300 North Central Expressway in Dallas. Rob Exline and Eric Deuillet of Structure Commercial negotiated the lease.

Floor IT has leased 1,260-square-feet of space in The Plaza at Rockwall,  1015 E. IH-30, to relocate its Rockwall store. Gretchen Miller and Stephen Wise with Weitzman handled negotiations as exclusive leasing agents for the landlord, SHOPCORE.

New York Pizza & Pints, offering New York-style pizza and draft craft beers, has leased 1,216-square-feet of space in Flower Mound Town Center at 2701 Cross Timbers Road (FM 1171) for a new location. Matt Luedtke and Giovanni Scardino with Weitzman handled negotiations for the shopping center. KM Realty Management, LLC, represented the restaurant.

Giovanni’s Pizza & Pasta leased a 1,100-square-feet Structure Commercial of retail space at 8245 Precinct Line Road in North Richland Hills. Jake Burns of Structure Commercial negotiated the lease.