Located at 1655 State Highway 66, Micropac will have an approximately 77,000 square foot constructed facility

Commercial Real Estate

Deal Ticker: Garland Electronics Manufacturer Plans Major Expansion

Plus: Lincoln Property Company and Sewell Automotive Companies announce new headquarters; Magnolia Urban Village multifamily sells, and more.

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

The City of Garland has partnered with Micropac Industries in a major upgrade and expansion project. The company, headquartered and operating in Garland, will be centralizing to a brand new facility.

Located at 1655 State Highway 66, Micropac will have an approximately 77,000 square foot constructed facility, situated between Milano Hats (another Garland staple) and Tuckerville Park. This move amounts to a notable 40,000 square foot increase in space from Micropac’s current operations along Walnut Street. Additionally, the new HQ will be built with the capacity to grow the company’s current employment base from 142 workers to 280.

Micropac itself is a diversified, high-tech company that was established in Garland in 1963. It has now grown to be a publicly-traded company (MPAD) that serves the military, space, medical, and industrial sectors.

INDUSTRIAL

Ed Tucker Distributor leased 257,500 square feet at Alliance Gateway 14 in Fort Worth. Newmark’s Louis Pascuzzi, Trace Elrod, John Beach, Chris Mason, Reggie Beavan III, Andy Iversen, David Creiner, Brad Mason, Jim Cooksey, Jack Brewer represented the tenant. Hillwood represented the landlord.

ZGRILLS, Inc. signed a 40,669 square foot lease at 2930 Telecom Pkwy in Richardson. Josh Barnes and Ben Wallace with Holt Lunsford Commercial represented the landlord, Jackson Shaw. Peter Lee with Good Harvest Investment Group represented the tenant.

Amadco Self Storage is located at 16161 US-377 in Fort Worth. The subject property consists of a 31,305-rentable-square foot facility resting on three parcels encompassing approximately 10.01 acres.

Amadco Self Storage, a 31,305-square-foot self-storage property in Fort Worth, has sold. Brandon Karr and Danny Cunningham with Marcus & Millichap represented the buyer and seller.

Genuine Cable Group leased 18,000 square feet at Building 7, 2300 East Arbrook Blvd. in Arlington from Hart Arlington. Derek Myers with Newmark represented the tenant. Stream Realty Partners represented the landlord.

Nerolens leased 17,133 square feet at 1234 Lakeshore Drive in Coppell. Newmark’s Blake Anderson, Andrew Morrow, Jeff Cannon represented the tenant. Lincoln Property represented the landlord.

Davis Autogroup, LLC signed a 15,836 square foot lease at 2707 Realty Rd in Carrolton. Agents Josh Barnes, Andrew Gilbert, and Ben Wallace with Holt Lunsford Commercial represented the landlord, Westcore. Chad Albert with NAI Robert Lynn represented the tenant.

Modus Test renewed 3,258 square feet and expanded an additional 4,953 square feet at 651 North Plano Road in Dallas. Christian Moore with Mercer represented the tenant, and Lynna Smith represented the landlord, Hartman Income REIT.

MULTIFAMILY
The Magnolia Urban Village development, with its revitalized historical buildings and unique arts scene, is the result of a 30-year plan.

Mag & May, a 240-unit apartment property in the Magnolia Urban Village community of Fort Worth, has sold. Institutional Property Advisors Drew Kile,  Michael Ware, Taylor Hill, Joey Tumminello, and Will Balthrope represented the seller, Hudgins Companies, and procured the buyer, an affiliate of Abacus Capital Group.

OFFICE

McKinney-based banking firm Independent Financial has plans to triple the size of its campus in the Craig Ranch development. It purchased 17 additional acres for an undisclosed amount. The expansion will bring its campus to 30 acres in total. Craig International president James Craig negotiated the Independent Financial transaction for McKinney Joint Venture.

Splunk leased 83,774 square feet at Lincoln Legacy One in Plano. Newmark’s Armand Tieno Jr., John Wolf, and Jim Graham represented the tenant. Cushman & Wakefield represented the landlord.

Lincoln Property Company and Sewell Automotive Companies have both announced office leases at LPC’s mixed-use development in Preston Center. The office building will become the new headquarters of Lincoln Property Group’s commercial division. The firm will occupy 59,000 square feet and is relocating from 2000 McKinney Ave. in Uptown Dallas. Sewell Automotive Companies will be taking 26,500 square feet. The company is currently headquartered at 3860 W. Northwest Highway in Dallas.

Whitlock Business Center I

Technical Consumer Products Inc. has leased 11,819 square feet of office/warehouse space in Whitlock Business Center I, 1425 Whitlock Lane in Carrollton, from Kennington Whitlock I. Brian Pafford and Susan Singer with Bradford Commercial Real Estate Services represented the landlord. Caleb McCoy of JLL represented the tenant.

Southland RE Properties has sold a 5,010-square-foot medical office building on 0.52 acres at 6635 Sandshell Blvd. in Fort Worth to JuLa Investments. Erik Blais of Bradford Commercial Real Estate Services represented the seller. Don Phifer of Phifer & Associates Inc. represented the buyer.

Realogy Title Group renewed 3,407 square feet at 8111 LBJ Fwy in Dallas. Campbell Henry with Lincoln Property Company Commercial represented the tenant, and Jessica Cyphers represented the landlord, Hartman Income REIT.

Cinctive Capital subleased 1,941 square feet at The Crescent Building 100 in Dallas from FAP USA. Newmark’s Jim Graham and Christopher Mongeluzo were the sublandlord representatives.

NTX Wash Properties purchased 1 acre at 4501 Half Crown Drive in Dallas. Sean Carson with Newmark represented the buyer.

RETAIL

CBRE Capital Markets’ Debt & Structured Finance group has arranged $32 million in bridge financing for Town Center Colleyville in Colleyville. Shaun Moothart, Dana Summers, Scott Lewis, and Frank Piasta with CBRE Capital Markets originated and secured the financing on behalf of Sterling Organization to source the financing through Rialto Capital. The loan will provide a three-year initial term, with two one-year extension options. Located at the intersection of Highway 26 and Hall-Johnson Road, Town Center Colleyville is a 246,327 square foot neighborhood grocery-anchored shopping center.

Modern Italian style is headed to the Dallas Design District with the May 2021 opening of Abitare 18. The sprawling 6,500-square-foot luxury showroom, located at 1617 Hi Line Drive, Suite 460, will showcase Molteni&C, one of Italy’s most renowned contemporary brands.

At Meadow Central Market, the clinic joins a lineup that includes Tom Thumb, CVS, The UPS Store, Studio Salons, and several other retailers, restaurants, and services.

Medi-Weightloss, a medical weight loss provider with locations across the U.S., has leased 1,444 square feet of retail space in Meadow Central Market, a community retail center located at 10455 N. Central Expressway at its intersection with Meadow Road, for a new location. Emilie Gioia and Korey Silverman with Weitzman handled negotiations as exclusive leasing agent for the shopping center. Michael Tran with Colliers International represented the tenant.

I Tech Fix has leased 1,140 square feet at Shops at Three Eighty, 2281 E University Drive in Prosper. Chris Flesner, Brian Sladek, and Colin Cannon of RESOLUT RE represented the Landlord. Austin MacDougall of Venture Commercial represented the Tenant.

PERMITS

Permits have been filed to build a 610,622 square foot warehouse and speculative office building called Tradepoint East on Distribution Drive in Wilmer. Construction on the $23 million project is set to begin in June 2021 and end in March 2022. Pross design group will lead design.  

Permits have been filed to build a 421,373 square foot, 289-unit multifamily development called Banyan Bishop Arts at the SE Corner of I-30 and Beckley in Dallas. Construction on the $36.6 million development is set to begin in August 2021 and end in August 2023. JHP Architecture will lead design.  

Permits have been filed to build a 247,015 square foot warehouse building, Building D, at First Park at 2075 Midway Road in Lewisville. Construction on the $10.8 million project is set to begin in May 2021 and end in March 2022. Alliance Architects will lead design.  

Permits have been filed to build a 154,000 square foot, 11-story senior living facility at 4215 Herschel Avenue in Dallas. Construction on the $35 million Herschel Ave Senior Living will begin in September 2021 and end in November 2023. PRDG will lead design. 

Naterra International has filed permits to build a 135,331 square foot office and warehouse space at 601 Fritz Drive in Coppell. Construction on the $8.7 million project is set to begin in June 2021 and end in February 2022. Pross design group will lead design.  

Permits have been filed to build a 3-story, 134,000 square foot Hardin Self-Storage center at 1560 Hardin Boulevard in Mckinney. Construction on the $8 million project is set to begin in June 2021 and end in January 2022. Merriman Anderson Architects will lead design.  

Permits have been filed to build a 125,21 square foot warehouse building, Building C, at First Park at 2075 Midway Road in Lewisville. Construction on the $7.2 million project is set to begin in May 2021 and end in March 2022. Alliance Architects will lead design. 

Southern Methodist University has filed permits to build a 59,000 square foot educational building to be called Frances Anne Moody Hall. Construction on the $25 million project is set to begin in August 2021 end be completed in December 2023. SmithGroup will lead design.  

Permits have been filed for a 55,605 square foot build-out of Kirkland & Ellis in Wier’s Plaza at 3219 Knox St. In Dallas. Construction on the $11.1 million project will begin in August 2021 and end in April 2022. DLR Group and Staffelbach will lead the design.  

U-Haul filed permits to build a 42,335 square foot shop facility at 12215 Lyndon B Johnson Fwy in Garland. Construction on the $6 million project is set to begin in July 2021 and end in March 2022.  

Alliance Ophthalmology has filed permits to build a 16,082 square foot office building at 9429 Beach Street in Fort Worth. Construction on the $3.8 million project is set to begin in June 2021 and end in March 2022. Covenant Architecture will lead design. 

Permits have been filed to build the 15,660 square foot Magnifique Office Building at 660 Walnut Ridge Drive in Irving.  Construction on the $1.2 million project will begin in May 2021 and end in March 2022. Willaim Peck & Associates, Inc. Will lead design.  

Permits have been filed to build a 9,538 square foot restaurant in Maple Terrace East at 3001 Maple Avenue in Dallas. Construction on the $2.7 million project will begin in June 2021 and end in June 2023. 5G Studio Collaborative will lead design.  

Texas Roadhouse has filed permits to build a new 7,831 square-foot restaurant at 12301 South Fwy in Burleson. Construction on the $1.5 million project will begin in June and end in October 2021. MS Consultants will lead design.  

Permits have been filed to build a new 7,508 square foot building in Park Row Plaza at 2328 Park Row Drive in Arlington. Construction on the $1 million project is set to begin in December 2021 and end in December 2022. Bear Design Build will lead design.  

Castle Dev Group has filed permits to build a 7,500 square foot shell building for medical and retail use at 310 FM 407 in Argyle. Construction on the $1 million project is set to begin in May and end in November 2021. Schwarz Hanson Architects will lead design. 

Wing Stop has filed permits to build a 4,785 square foot restaurant at 900 S. Crowley Rd. in Crowley. Construction on the $1.2 million project will begin in June 2021 and end in February 2022. Terry R. Cunningham Architects will lead design.  

Permits have been filed to build a 4,456 square foot McDonald‘s restaurant on Washington Drive in Melissa. Construction on the $1.5 million project is set to begin in July and end in November. Rogue Architects will lead design.  

Permits have been filed to build a 2,480 square foot restaurant in Maple Terrace West at 3001 Maple Avenue in Dallas. Construction on the $1.1 million project will begin in June 2021 and end in June 2023. 5G Studio Collaborative will lead design. 

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