3811 Turtle Creek Transwestern

Commercial Real Estate

Deal Ticker: Another California-Based Real Estate Firm Relocates to Dallas

Plus: Global licensed apparel manufacturer signs industrial lease in Irving, Transwestern secures large lease for first-class healthcare network, and more.

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

Lion Real Estate Group, an investment firm focused on multifamily and creative office properties, has relocated its Los Angeles-based headquarters to Dallas. The firm has taken space at 3811 Turtle Creek Blvd. “The decision to relocate our corporate headquarters to Dallas aligns with our strategy of acquiring desirable multifamily assets outside of the urban core, both here in Texas and in other high-growth cities across the Sunbelt and Southeast,” said Jeff Weller, co-founder and managing principal of LREG.

Texas is already a key location for LREG, which has a national portfolio of 27 properties exceeding $900 million in estimated value as of Dec. 29, 2020. The firm owns five residential properties in the Lone Star State, including Embry Apartments (2210 Marsh Lane), a 151-unit multifamily property in Carrollton, 13 miles northwest of downtown Dallas. As of August 2020, Dallas-Fort Worth-Arlington is one of the nation’s 12 largest metropolitan statistical areas (U.S. Bureau of Labor Statistics).

Late last year, CBRE also announced it was relocating from California to its new home base at 2100 McKinney Ave. in Dallas.

INDUSTRIAL/LAND
BIOWORLD
BIOWORLD

Bioworld Merchandising, a global manufacturer and distributor of licensed apparel and accessories, has signed a new industrial lease totaling 123,844 square feet at 2650 Rental Car Drive in Irving. Transwestern’s John Fulton and Clayton Johnson provided tenant advisory services on behalf of Bioworld, with additional support from Nora Hogan and Jordan Wade. Steve Trese and Steve Koldyke with CBRE, represented the building owner.

Military Mercer Properties sold a 64,700-square-foot building at 1301 Texas Star Parkway in Euless. Corby Hodgkiss and Dylan Neal with Mercer Company represented the seller.

An undisclosed buyer has purchased the 30,000-square-feet Central Mall in Texarkana located at 3501 Mall Drive in Texarkana. Brian Sladek of RESOLUT RE represented the buyer. Steve Schrenk of JLL represented the seller.

Prologis purchased a 9,915-square-foot warehouse and 3.83 acres at 2168 W. Diplomat Drive in Dallas. Dan Spika of Henry S. Miller negotiated the transaction.

Memo Musabasic-Texas Shade Sails has purchased a 7,122-square-foot building at 409 N. Jefferson Street in Irving. Kathy Bellinger with CWB Enterprises represented the buyer. William LeMasters with Mercer Company represented the seller, Gary Cochrane, with Trend Builders.

BBH Capital Investments purchased a 6,000-square-foot building at 2702 National Circle in Garland. Tucker Cason with Mercer Company represented the seller, Whitmarsh & Cook Joint Venture.

Hillside Logistics Company leased 5,057-square-feet at 2202 113th Street Suite 104 in Grand Prairie. Corby Hodgkiss with Mercer Company represented the tenant.

Kjellberg Cutting leased 2,400-square-feet at 1504 Eagle Court in Lewisville. Tea Rea of AllTrades Industrial Properties represented the landlord, AIP Eagle Court. Sara Bodzy and Carley Keiser, with TIG, represented the tenant.

MULTIFAMILY

Green Brick Partners Inc., in partnership with Meritage Homes, has closed on the purchase of approximately 2,400 homesites with a total build-out value of circa $640 million for the development of Eastridge—Princeton, Texas’ newest residential community. The community will be a 50/50 partnership between Meritage Homes and Trophy Signature Homes, a Green Brick Partners subsidiary. The 547-acre community will feature a mixture of 40’, 50’, and 60’ single-family homes. An affiliate of Astra Development sold the land for Eastridge. Davey Davis represented the seller, and Kimley-Horn & Associates serves as the land planner and civil engineer on the project.

OFFICE
Mercer Crossing
Transwestern

Southwestern Health Resources has signed a long-term lease totaling nearly 150,000-square-feet at Browning Place. Transwestern’s Duane Henley provides leasing services for the property at 1601 and 1603 Lyndon B Johnson in Farmers Branch on behalf of the building ownership, Browning Place. Paul Whitman and Pat McDowell with JLL represented Southwestern Health Resources.

II-VI Marlow
II-VI Marlow

II-VI Marlow has renewed its 46,510-square-foot Dallas headquarters lease on Vista Park and Miller Road. Garrison Efird, Adam Faulk, and Jim Cooksey with Newmark, represented the tenant. Stream Realty Partners represented the landlord.

The Offices Two at Friso Station
The Offices Two at Friso Station

Digital transformation services company MTX Group has leased 20,000-square-feet at The Offices Two at Friso Station, adjacent to the Dallas Cowboys’ headquarters. Tyler Clutts, Brad Struck, and Darren Woodson of esrp represented the tenant in lease negotiations, and Doug Jones and John Fancher of Cushman & Wakefield represented the landlord. The anticipated move-in for MTX Group is April 2021.

RETAIL

Zalat Pizza has signed a lease at Cooper Oaks Crossing, 5425 S. Cooper St. in Arlington. Brandon Brawner and Paul Cooke III with The Retail Connection represented the landlord, CPG Cooper Oaks. Phillip A. Slyby with Integrated Real Estate & Development represented the tenant.

A 3-Tenant outparcel to Costco at 183A Toll Road and E Whitestone Blvd. in Cedar Park has sold. STRIVE represented the seller, a Houston developer, and cooperated with an outside broker to source the buyer, an Austin investor.

QuickTrip has leased just over 1 acre at 3512 Cole Ave. in Dallas. Ton Filley and Jack Weir with The Retail Connection represented the tenant.

Crave has leased 2,827-square-feet at Waters Edge at Viridian, 3990 N Collins St. in Arlington. Sherry Naquin Sanchez of RESOLUT RE represented the tenant. Cameron Haddad and Zach Boatwright of Vision Commercial Real Estate represented the landlord.

Xplore Preschool in Fort Worth has sold. The recently built property has a long-term absolute net lease in place with over 12 years remaining. STRIVE represented the seller, a Dallas-based investor, and cooperated with an outside broker to secure the buyer, an investor from Iowa.

Christie’s Sports Grill has signed a lease at 2817 Greenville Ave. in Dallas. Christopher M. Gibbons and Paul Cooke III with The Retail Connection represented the tenant. Megan Trimble with Edge Realty Partners represented the landlord, Park Lane Partners.

The Joint leased 1,500-square-feet at Denton Crossing East in Denton. David Levinson and Jack Weir with The Retail Connection represented the landlord, 3503 RP Denton Crossing. Greg Pierce of CBRE represented the tenant.

Farmers Insurance leased 1,064-square-feet at Lake Prairie Town Crossing in Grand Prairie. David Levinson and Brandon Trimble with The Retail Connection represented the landlord, Kimco Lake Prairie.

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