Commercial Real Estate

Deal Ticker: Veteran Investor Snaps Up Key Building in Downtown Arlington

Plus: Massive perishable foods warehouse heads to Lancaster, State Bank of Texas plans Las Colinas headquarters move, Trek Bicycles signs big Hurst lease, and more.

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

Gary Walker, an active redeveloper in downtown Arlington, has purchased Vandergriff Town Center. The 28,211-square-foot Vandergriff Town Center at 200 N. Mesquite St. shares cross parking and access with The Historic Vandergriff at 255 N. Center St. Walker acquired that 15,085-square-foot  property in the early 2000s and secured its listing on the National Register of Historic Places.

“I want to continue to improve that block in the downtown. It’s a special place to me, where I want to be personally invested,” said Walker, president of SkyWalker Property Partners and managing principal of Hangover Opportunity Fund. “I plan on holding it long-term, along with the Vandergriff Building.”

Both projects are now 100 percent leased. SkyWalker Property Partners last year relinquished its second-floor headquarters space in Vandergriff Town Center as part of the fund’s planned divestiture. The entire vacancy recently has been backfilled by Go Management, which owns and manages several Keller Williams Realty franchise offices in Dallas-Fort Worth.

Walker’s influence on downtown Arlington is visible in the number of projects with which he has been involved. As a young commercial agent, he aided city leaders Tom Cravens and Jerry Jordan in crafting strategic plans for the city’s downtown. Through the years, Walker has renovated four additional buildings and introduced other investors and tenants to opportunities in the city center to spur its revitalization. He formerly served on several municipality-related advisory boards.

PERMITS

Permits have been filed to build a 733,202-square-foot perishable warehouse distribution space on 940 East Pleasant Run Road in Lancaster. Construction on the $199.5 million building will begin in late March 2021 and end in March 2022. Leo A. Daly will lead design.  

Permits have been filed to build a 219,000-square-foot logistics center at 3100 State Highway 161 in Irving. Construction on the $43,780,000 million project will begin in August and end in November. PDMS Design Group will lead design.  

Permits have been filed to build a 90,444-square-foot affordable housing complex, called Lakeview Preserve, at 2300 S. Macarthur Blvd. in Irving. Construction on the $10.9 million project will begin in July and end in September. Fugleberg Koch will lead design. 

Reata Pharmaceuticals Lab has filed permits to build a 50,671-square-foot office and lab space and 179,531 square feet of office space at 6100 Legacy Drive in Plano. Construction on the nearly $34 million in projects will begin in June 2021 and end in June 2022. Gensler will lead design. 

INDUSTRIAL

Little Raymond’s Print Shop leased 230,400 square feet at 850 N. Lake Drive in Coppell. Newmark’s Catherine Gibbons, Trace Elrod, Garrett Gibbons Jr., Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, and Chris Mathis represented the tenant.

Strukmyer leased 91,200 square feet at Eastpoint IV, 1851 Big Town in Mesquite. Ryan Wolcott, SIOR, and Adam Jones with Stream Realty Partners represented the landlord, Link Logistics.  Sam Devorris, Mike McElwee, and Pride Snow with Avison Young represented the tenant.

ATC Transportation leased 75,676 square feet at Perimeter Distribution Center, 12750 Perimeter in Dallas. Ryan Wolcott, SIOR, and Adam Jones with Stream Realty Partners represented the landlord, DRA Advisors. Hanes Chatham II with Stream Realty Partners represented the tenant.

Optex Systems, Inc leased 44,867 square feet at 9801 Chartwell Drive. in Dallas. Ryan Wolcott, SIOR & Adam Jones with Stream Realty Partners represented the landlord DRA Advisors. Alan Thomas with Swearingen Realty Group represented the tenant.

ProBuilt Tools, Inc. leased 42,558 square feet at Gateway East Business Center, 4002 W. Miller Road in Garland. Ryan Wolcott, SIOR, and Matt Dornak, SIOR with Stream Realty Partners, represented the landlord, Barings.

Team USA Semi & Trailer Repair signed a new 34,720 square foot industrial lease at 2563 Berner St. in Fort Worth. Transwestern’s Todd Hawpe, Jeff Givens, and Garrison Lackey represented the landlord.

Universal Screens leased 33,626 square feet at 10th Street Business Park, 1808 10th Street, in Plano, Texas. Ryan Wolcott, SIOR, and James Mantzuranis with Stream Realty Partners represented the landlord, Link Logistics. Cameron Rogers and Jordan Ketchens with Rubicon represented the tenant. 

Sting Soccer Club/Royal Nation signed a new 23,255 square foot industrial lease at 15000 E Beltwood Pky in Addison. Transwestern’s Clayton Johnson represented the tenant.

Incab America signed a new 22,362 square foot industrial lease at 710 107th St Arlington. Transwestern’s John Brewer and Riley Maxwell represented the tenant.

D&O Construction has renewed 12,870 square feet of flex space in Building III, 3933 Leon Road in Garland. Melanie Hughes and Elizabeth Hooper with Bradford Commercial Real Estate Services represented the landlord, Perth Properties Inc. The Bradford team of Jason Finch and Brian Pafford represented the tenant.

Casino Supply leased 12,662 square feet at 2416 Walnut Ridge in Dallas. Ken Boyd and Art Leichner with Newmark represented the tenant.

Brennan Enterprises signed a new 10,780 square foot industrial lease at 2507 Dalworth St. in Grand Prairie. Transwestern’s John Brewer and Riley Maxwell represented the tenant.

Duke Holdings purchased a 15,092 square foot site at 9210 King Arthur Drive in Dallas. Sara Fredericks with Newmark represented the buyer.

Cake Bar lease 10,250 square feet at 9019 Governors Row in Dallas. Jill Tiernam and Paul Cooke III with The Retail Connection represented the tenant. David Guinn of Davidson Bogel represented the landlord, MSW-DB Governors Row.

American Woodmark Corporation signed a new 5,737 square foot lease at 2433 Tarpley in Carrollton. Transwestern’s Matt Hurlbut represented the landlord.

Bright Realty brokered the lease for two spaces in an industrial office park near downtown Plano. The spaces at 705 K. Ave., both 1,560 square feet each, are for Best Restaurant Solutions, a servicer of large restaurant appliances, and RGB Custom PC, a custom gaming PC builder. Dan Looney and Nick Miller of Bright Realty represented the landlord in the transactions.

MULTIFAMILY

Lakeside Apartments, a 424-unit community, located at 9600 Golf Lakes Trail in Dallas, has sold. Chibuzor Nnaji and Mark Allen with Greystone Investment Sales Group represented the seller.

Cross Creek at Grapevine Ranch

Cross Creek at Grapevine Ranch, a 392-unit multifamily property in Grapevine, has sold. Institutional Property Advisor’s Drew Kile,  Joey Tumminello, and Will Balthrope represented the seller, a joint venture between an affiliate of The Carlyle Group and VCT Capital Partners, and procured the private buyer.

Ativa Lewisville, a 180-unit property at 901 N. Garden Ridge Blvd. in Lewisville, was sold. Chad Lavender and Ryan Maconachy with Newmark represented the seller.

OFFICE
Renderings of State Bank of Texas’ new Las Colinas headquarters.

State Bank of Texas, which is currently headquartered in Dallas, has announced plans to build a new headquarters in the Las Colinas Urban Center. Construction will begin by the end of the year and is anticipated to be completed by mid-2023. The new SBT headquarters is being designed by the Dallas firm of Malone Maxwell Dennehy Architects. The Class AA 48,000-square-foot building will be four stories, with a full glass curtain wall with a datum wall feature.

IQCT Properties purchased the 49,715 square foot Technology Business Campus, 3309 Matrix Drive in Richardson. Newmark’s Andrew Crites and Art Leichner represented the buyer.

Marlow Industries leased 46,451 square feet at 10465 Vista Park Road in Dallas. Newmark represented the tenant.

Thorsten Texas purchased an 18,608 square foot building at 6631 Browning Road in North Richland Hills. James Meyer and Gary Lindsey with Newmark represented the buyer.

1046 Texan Trail in Grapevine Station

Texan Trail Holding sold its 10,202 square foot single-occupancy office building at 1046 Texan Trail in Grapevine Station. Sean Smith of Whitebox Real Estate and Jeff Puffer with Delphi Business Properties represented the buyer. Matthew Otte of Whitebox Real Estate represented the seller, Texan Trail Holdings LLC.

RMS Engineers has leased 8.936 square feet at Canyon Creek Center. The full-service engineering design and consulting firm will move in in the second quarter of 2021. JLL’s Ashley Curry, along with Lauren Halstedt and Garrett Nerren, negotiated the lease of the Canyon Creek Center building between Malouf Interests and RMS Design Group with Roy Reis and Austin Studebaker of ESRP.

Avid Center has renewed 7,387 square feet of office space in Forest Green Office Park, 11910 Greenville Ave. in Dallas. Jared Laake and Richmond Collinsworth of Bradford Commercial Real Estate Services represented the landlord, SOHO/Davis FG LLC, in the direct deal.

Cady Studios leased 7,282 square feet at 121 Business Center, 3801 William D Tate Ave. in Grapevine. Sara Fredericks and Scott Hensley with Newmark represented the tenant.

Largo Concrete, Inc. expanded into 5,617 square feet at 1521 N Cooper Street in Arlington. Allison Fannin represented the landlord, Hartman Income REIT.

All Nations National Church leased 4,000 square feet of office space at 2520 Irving Boulevard in Irving. Rob Exline and Troy Morgan of Structure Commercial negotiated the lease.

RETAIL

Trek Bicycles leased 24,239 square feet of retail space at 143 E. Harwood Road in Hurst. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

BioLife Life Plasma Services leased 11,534 square feet of retail space at 4620 Bryant Irvin Road in Fort Worth. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

Don Cuco’s Carneceria & Taqueria leased 10,000 square feet of retail space at 1518 W. Northwest Highway in Garland. John Hiller and Scott Rose of Structure Commercial negotiated the lease.

Red Crab Restaurant leased 9,036 square feet of retail space at 721 N. Watson Road in Arlington. Quyen Nguyen and Eric Deuillet of Structure Commercial represented the tenant, and Derek Schuster and Giovanni Scardino of Weitzman Group represented the landlord.

Premier Martial Arts leased 7,425 square feet of retail space at Parkwood Village in Bedford. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

Too Crazy Guys leased 6,606 square feet of retail space at 1701 W. Eldorado Parkway in McKinney. John Hiller and Eric Deuillet of Structure Commercial negotiated the lease.

Scrubtastic of Texas leased 4,660 square feet of retail space at 1100 N. Central Expressway in Plano. Troy Morgan of Structure Commercial negotiated the lease.

NY Pizza & Pasta leased 4,530 square feet of retail space at 217 Harwood Road in Bedford. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

A poker room has leased 4,000 square feet at Valley View Market, 4051 LBJ Fwy. in Farmers Branch. Chris Flesner and Brian Sladek of RESOLUT RE represented the landlord.

First Combined Painting with a Twist & Color Me Mine Store! leased 3,971 square feet at Preston Shepard Place, 1713 Preston Road in Plano. Jill Tiernan, Jack Weir, and Susan Ridley represented the landlord. Rob ert Young with Weitzman co-brokered the deal.

Tarrant County Liquor leased 3,292 square feet of retail space at 113 E. Harwood Road in Hurst. Court Powell and Eric Deuillet of Structure Commercial negotiated the lease.

Blue Ribbon Trophies leased 2,750 square feet of retail space at 2915 W. 15th Street in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

Texas Training Institute leased 2,486 square feet of retail space at 280 N. Main Street in Grapevine. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

SAI JBA Inc. leased 2,109 square feet of retail space at 3030 N. Josey Lane in Carrollton. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

Security Assistant leased 2,027 square feet at 10721 Plano Road in Dallas. Kelly Lyons with TIG Real Estate Services represented the landlord.

JJ Kim, Inc. dba Prestonwood Cleaners renewed 2,100 square feet at 6505 W. Park Blvd. in Plano. Kat Morrison represented the landlord, Hartman Income REIT.

Salinas Medical Group has leased 1,800 square feet at Woodmont Plaza North, 6200 McCart Ave. in Fort Worth. Colin Cannon and Brian Sladek of RESOLUT RE represented the Landlord.

Total Men’s Primary Care has leased 1,402 square feet at 3040 W Camp Wisdom Rd in Grand Prairie. Colin Cannon and Chris Flesner of RESOLUT RE represented the Landlord. Lance Adams of Total Men’s Primary Care represented the Tenant.

Joyeux Nutrition leased 1,373 square feet of retail space at 2907 W. 15th Street in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

Mister Guns leased 1,220 square feet of retail space at 2751 W. 15th Street in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

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