Commercial Real Estate

Deal Ticker: Denver-Based Investment Group Plans Massive Industrial Park in South Dallas

Plus: Cypress Waters Plans new $20 million office building; a Florida-based lighting company signs a lease at Brookhollow Industrial Park; and more.

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

Denver-based Black Creek Group has acquired 165 acres to develop the firm’s largest project to date. Upon completion, the two-building Class A industrial park will total two million square feet. The development will be completed in two phases. Eric Hawk, partner of Archway Properties, the co-developer in this transaction, spent two years assembling 42 individual parcels with 18 different property owners.

Construction on Phase I, a one-million-square-foot facility, is scheduled to commence in Q3 2021, with completion anticipated in Q3 2022. Construction on Phase II, a one-million-square-foot facility with an adjacent excess trailer lot, will be reserved for build-to-suits or a future speculative project. The site offers flexibility as the buildings can accommodate multiple tenants.

Black Creek Group and Archway Properties were represented by Ryan Thornton and Nathan Lawrence of CBRE in the co-development agreement.

INDUSTRIAL
420 W. Mockingbird Place, Dallas

Volt Lighting has leased the 17,500-square-foot balance of a four-building project in Dallas’ Brookhollow Industrial Park for its fourth distribution center in the U.S. Florida-based Volt Lighting’s Southwest Region distribution center has been set up in Mockingbird Place Building 3, 420 W. Mockingbird Lane, backfilling a spot with just one month of downtime for the leasing team. Brock Wilson with Bradford Commercial Real Estate Services represented the landlord while colleague Joe Santaularia handled the tenant side.

L.H. Lacy Co. has extended its 11,713-square-foot lease at Westwood Business Park Building 12, 1880 Crown Drive in Farmers Branch. Gary Lindsey with Newmark represented the tenant.

Ledbetter Holdings has purchased 5.69 acres at 4710 W. Ledbetter Drive in Dallas from EPI Breads. Gary Lindsey with Newmark represented the seller.

Blue Star Land has filed building permits to construct two spec buildings at Star Business Park, at the northeast corner of Gateway and Corporate drives in Frisco. Building 7A will be a 100,800-square-foot warehouse valued at $4.3 million. Building 7B will be a 178,200-square-foot warehouse valued at $5.7 million. Alliance Architects, Inc. is leading design on both, which are anticipated to be completed in November.

Two building permits have been filed to build Building 1 and Building 2 at Gateway Business Park, 31 Freeport Parkway in Coppell. Building 1 will be a 176,328-square-foot distribution warehouse valued at $4.76 million. Building 2 will be a 139,225-square-foot distribution warehouse valued at $4.29 million. Macgregor Associates Architects is leading design on both projects, which are expected to be completed by January 2022 (building 1) and March 2022 (building 2).

OFFICE

CFT Developments purchased the 246,060-square-foot AmeriCredit Center I building at 4001 Embercadero Drive in Arlington. Ken Hedrick, Jerry Hopkins, and Andrew Ragsdale with Newmark represented the seller.

Cypress Waters has filed a permit to build a 182,400-square-foot office building at 9000 Cypress Waters in Dallas. The $20 million project is expected to begin construction in September and be completed by September 2022. GFF Architects is leading design.

Metrotex Association of Realtors has filed a permit to build a 39,627-square-foot Metroplex Corporate Office building at 2101 Kinwest Parkway in Irving. The $14 million building will be two stories and is expected to be completed by March 2021. BOKA Powell is leading design.

Applied Climate has leased 7,500 square feet at 1955 Lakeway Drive in Lewisville. Sara Bodzy and Carley Keiser of TIG Real Estate Services represented the landlord.

RETAIL
Bridge Street Dairy Queen
The Dairy Queen site on Bridge Street, near Bridgewood Drive, is a high-traffic area populated by numerous restaurants and retailers, including Home Depot.

A local franchisee for Dairy Queen has purchased a 3,480-square-foot restaurant building on 1.1 acres located at 6700 Bridge Street. David Zoller and Corbin Tanenbaum with Weitzman handled negotiations.

U-Haul Moving & Storage has filed a permit to build a 139,671-square-foot storage building at 1400 N. McDonald St. in McKinney. Construction on the $6 million project will begin in May and complete in February 2022.

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