Commercial Real Estate

Deal Ticker: Fort Worth’s Triune Centre Lands Anchor Tenant

Plus: Cantex purchased former Guiberson Corporation in South Dallas; CHRISTUS Health filed permits to build new Irving headquarters, and more.

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

Fort Worth’s Triune Centre has landed its anchor tenant. Vantage Bank Texas signed a 15,000 square foot lease at the 30,000 square foot building—the first office development of its kind in the United States to feature a fully automated valet parking tower system.

Cornerstone Projects Group, a development, architecture, and construction company, and Trident Structures, a total-solutions engineering, procurement, and construction company, are partners in development. Construction will begin in the second quarter of 2021, and the building is set to deliver in summer 2022.

Triune Centre, located at 3400 West Freeway, is the first office development of its kind in the United States to feature a fully automated valet parking tower system.

Although Fort Worth has seen a slowdown in office development since 2018, trends have indicated that it is beginning to change. There are currently four office projects totaling over 365,500 square feet under construction in the metroplex west of DFW Airport, including Crescent’s new 160,000-square-foot development that was announced at the beginning of March.

“Over the past few years, Fort Worth has experienced a significant shift in the market with employers looking to provide their talented and educated workforce a dynamic work environment that offers unique amenities and innovative technology features,” said Cullen Donohue, a senior associate in the Fort Worth office of  Stream Realty Partners. “Triune Centre will emerge as a natural leader in the market, and we anticipate that it will quickly attract many prominent tenants throughout Fort Worth.”

Donohue, Seth Koschak, Chris Doggett, and Vic Meyer, all with Stream, represented the landlord, and Theron Bryant with Transwestern represented Vantage Bank Texas in the transaction.

INDUSTRIAL

Cantex recently purchased a 30 acre secured manufacturing campus with nine Heavy Industrial buildings totaling nearly 300,000 square feet 1.5 Miles from Downtown Dallas. Patrick Hunt and Cullen Finnegan of Trinity Southwest Commercial Real Estate represented the seller in the transaction. The campus has been a fixture in the area for over 100 years, originally headquartering the Guiberson Corporation and later Dresser Industries. Faubion Associates was a major employer in the area, employing up to 300 people engaged in the manufacturing of high-end custom fixtures and architectural millwork.

An undisclosed buyer has purchased 2.42 acres at Chaparral & Featherline Pad Site, 4201 Chaparral Road in Killeen. Brian Sladek and Tucker Francis of RESOLUT RE represented the seller. Rehan Rajab of Champions Real Estate Group represented the buyer.

Permits have been filed to build two industrial shell buildings in the MacArthur Business Park in Lewisville, totaling 152,000 square feet. Construction on the $7 million project will begin in July 2021 and end in April 2022. RGA Architects will lead design. 

Assured Storage filed permits to build a 127,154 square foot, 3-story self-storage building at 3863 Southwest Loop 820 in Fort Worth. Construction on the $5 million project will begin in June 2021 and end in January 2022. PMD Architects will lead design.  

American Carton filed permits to build a new 112,354 square foot metal building at 607 S Wisteria St. in Mansfield. Construction on the $3.1 million project began in April and is set to be completed by September. Nationwide Construction will lead design.  

ANCHOR, a family-owned real estate investment firm based in Dallas, has purchased a two-building industrial property located at 404 and 500 Riverside Drive in Fort Worth. American Glass Distributors previously occupied the 75,000 square foot facility.  ANCHOR intends to renovate the two buildings, positioning them for multi-tenant occupancy. Todd Hubbard and Jeff Jackson of NAI Robert Lynn facilitated the transaction and will handle leasing efforts at the property. ANCHOR’s investment team, led by Cody Edge and Sam Dethrow, negotiated the purchase and secured acquisition financing

Lykes Cartage Co. Inc. has settled into 68,818 square feet of industrial space in the Great Southwest Industrial District to expand and relocate within North Texas. The cargo and freight company has moved to 2880 113th St. in Grand Prairie, signing a long-term lease for nearly 69 percent of the Great Southwest Distribution Center. CORFAC International affiliates Joe Santaularia of Bradford Commercial Real Estate Services and Russell Todd of Centric Commercial represented Lykes in the transaction and subsequent sublease of its former 28,000 square foot warehouse in Grapevine. The 100,408 square foot Great Southwest Distribution Center is now 100 percent leased. Michael Pienado of Lincoln Property Co. represented the landlord, Columbia Texas 113th Industrial LP.

1908 110th purchased 68,314 square feet at 1908 110th Street in Grand Prairie. Corby Hodgkiss and Jeff Mercer with Mercer Company represented the buyer.

3015 Avenue E, a 58,720 square foot industrial property located in Arlington, recently sold to KPAK. Transwestern’s John Brewer and Riley Maxwell facilitated the transaction.

Midwest Hose & Specialty renewed its 52,800 square foot lease with Prologis at 1132 Valwood Pkwy. in Carrollton. Transwestern’s Brett Owens and Clayton Johnson represented the tenant. Mitch Pruitt handled negotiations on behalf of Prologis.

6701 Will Rogers Blvd., a 40,000 SF industrial building located in Carter Industrial Park recently sold to PJ Ranches. Vicki Tsan with the Tsan Group represented the seller. Grant Huff with Transwestern represented the buyer.

PXP renewed its lease for 38,380 square feet with First Industrial Realty Trust, Inc at 2485 Merritt Dr in Garland. Transwestern’s Michael Griffin and Riley Maxwell represented the tenant.

PHP Northridge I Venture purchased 37,400 square feet at 2002-2006 N. State Hwy 360 in Grand Prairie.  Corby Hodgkiss and Harrison Putt with the Mercer Company represented the seller, Prosperity Ban.

Solar Life Technology signed a 34,220 square foot lease at 918 113thin Arlington. Corby Hodgkiss with Mercer represented the tenant.

Cockrell Printing signed a new 32,355 square foot industrial lease at 1001 NE Loop 820 in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens represented the landlord, Northbrook 820.

Texas One Source signed a new 30,380 square foot industrial lease with Conti Edgecliff-Sias, LLC in Fort Worth. Transwestern’s Garrison Lackey and Lyndon Todd represented the tenant.

Gale Industrial filed permits to build two 30,000 square foot warehouses and a brewery factory at 16272 Three Wide Drive in Fort Worth. Construction on the $6 million project will begin in July 2021 and end in September 2022.  

A 25,940 square foot industrial property was purchased at 612 Burlington Road in Saginaw. Transwestern’s Todd Hawpe and Jeff Givens facilitated the transaction.

EaBevCo signed a new 25,692 square foot industrial lease at 500 Railhead Road in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens represented the tenant.

Nuts.com signed a new 21,060 square foot industrial lease with DWS Group at 1520 Luna Road in Carrollton. Transwestern’s John Fulton, Brett Owens, and Clayton Johnson represented the landlord. Reid Bassinger with Lee & Associates represented the tenant.

A 20,625 square foot industrial property was purchased at 511 S 5th Ave in Mansfield. Frank Jester, Todd Hawpe, and Jeff Givens with Transwestern facilitated the transaction on the buyer and seller sides.

Protective Packaging renewed its 18,292 square feet industrial lease with DWS Group at 1746 W. Crosby Road in Carrollton. Transwestern’s John Fulton, Brett Owens, and Clayton Johnson represented the landlord. Stephen Cooper with NAI Robert Lynn represented the tenant.

Capital Equity Capital purchased 17,822 square feet at 5511 and 5625 W. Ledbetter Drive in Dallas. Evan Webb with Mercer Company represented the seller, Texas Senter Investments.

Perennials and Sutherland signed a new 15,000 square foot lease with Prologis at 151 Regal Row in Dallas. Transwestern’s Michael Griffin represented the tenant.

Entrada Iron & Wood Doors leased 12,000 square feet at 3234 Towerwood Drive in Farmers Branch. Adam Curran with Lee & Associates represented the tenant. Jeff Mercer with Mercer Company represented the landlord, M2 Investments.

Greenwood Office Outfitters signed a new 12,000 square foot industrial lease with Adder Felix Ltd Partnership at 130 E Felix Street in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens represented the landlord.

PepsiCo Global R&D filed permits to build a 1,700 square foot biodegradation demonstration greenhouse at 7701 Legacy Drive in Plano. Construction on the $1.2 million project is set to begin in June 2021 and end in October. MJDII Architects will lead design.  

850 Railhead, a piece of land in Fort Worth recently sold. The site is 9.78 acres. Transwestern’s Todd Hawpe, Jeff Givens, and Garrison Lackey facilitated the transaction.

OFFICE

CHRISTUS Health filed permits to build new, 457,000 square foot, 15-story office headquarters at 5101 N. O’Connor Blvd. in Irving. Construction on the $107 million project will begin in June 2021 and end in June 2023. BOKA Powell will lead the design.  

Bighorn Construction and Reclamation extended and expanded to 36,331 square feet at 777 Main in Fort Worth. Transwestern’s Whit Kelly and Dallas Margeson represented the landlord in the transaction, Brookdale Group.

CorDeck has filed permits to build a 30,049 square foot office and manufacturing facility at 5450 Dakota Lane in Denton. Construction on the $4 million project is set to begin in May 2021 and end in December. Spectrum Engineering will lead design. 

Chisholm Energy renewed its 22,338 square foot office lease at 800 Cherry St. at Burnett Plaza in Fort Worth. Grant Huff with Transwestern represented Chisholm Energy. Jack Clark with Red Oak Realty represented the landlord, Burnett Plaza LP.

MacArthur Plaza

EMJ Construction, a privately-held construction company, has renewed its lease for 21,653 square feet at MacArthur Plaza located at 5525 N. MacArthur Blvd. in Las Colinas. Transwestern’s Matt Hurlbut and Nathan Durham represented building ownership, Brookwood Financial Partners. Stream represented the tenant.

Saville Dodgen & Company renewed its lease for 20,769 square feet at Plaza of the Americas in downtown Dallas. Transwestern’s Kim Brooks, Laney Underwood, and Justin Miller represented the landlord, Clarion Partners.

Vista Sands signed an 8,501 square foot office lease at 6050 SW Blvd. in Fort Worth. Transwestern’s Grant Huff represented both sides in the transaction.

950 W Magnolia signed a new healthcare office lease for a tenant totaling 7,799 square feet. Transwestern’s Theron Bryant and Casey Tounget represented the landlord.

International Plaza III

Renovo Capital has expanded its Dallas office to 5,789 square feet within International Plaza III at 14241 Dallas Parkway. Jeremy Duggins of Cawley Partners represented the landlord, and Garrison Efird with Newmark represented the tenant.

FCI Lender Services signed a new 4,290 square foot lease at Tower 909 in Las Colinas. Transwestern’s Kim Brooks, Scott Walker, and Justin Miller represented the landlord, KBS.

RETAIL

Construction has begun on the popular laid-back restaurant and backyard bar, Truck Yard, at Alliance Town Center, the 900-acre master-planned community in far north Fort Worth. Truck Yard is scheduled to open in fall 2021.

Firewheel Market

Plato’s Closet, a retailer, offering gently used brand-name clothing and accessories, has leased 3,754 square feet of retail space in Firewheel Market, a specialty retail center located at the northeast corner of SH-78 and SH-190, for a new location. Lynn Van Amburgh and Matt Luedtke with Weitzman handled negotiations for the shopping center.

Fat Tuesday has leased 2,251 square feet at The Grove 2760 Venture Way in Waxahachie. Jaime Eagleson of Concept Commercial Realty represented the tenant.

Cold Stone Creamery leased 1,419 square feet at Town Center Colleyville. Jim Weir, Rachel Woodman, and Paul Cooke with The Retail Connection represented the tenant. Jake Carr with Sterling Organization represented the landlord, SVAP III TC Colleyville.

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