The Farm in Allen

Commercial Real Estate

Deal Ticker: Massive Allen Mixed-Use Development Breaks Ground

Plus: Clean Earth Company leases industrial space in Alvarado, S2 Capital sells DFW apartment communities to an out-of-state buyer, and more.

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

Allen-based developer JaRyCo broke ground this week on The Farm in Allen, a 135-acre mixed-use project that will include 1.6 million square feet of office, 142,000 square feet of retail, a 150-key hotel, 60,000 square feet of restaurants, townhomes, and urban residential units. Work will begin with the development’s infrastructure, including the roads and utilities, followed by construction of West Lake Park, the phase one trails, and the public parking garage.

Last month, JaRyCo announced it will develop 102,000 square feet of class A office space, called FarmWORK One. The three-story building will be located across from The Central District and will include several healthy building elements, such as outdoor, Wi-Fi-equipped work areas, touchless features throughout the building, and HVAC systems with high-efficiency air filtration, ionization treatment, and electronically monitored increased outside air circulation. JaRyCo plans to begin construction in 2021 with completion planned for summer 2022. Avison Young is leasing FarmWORK One for JaRyCo.

JaRyCo engaged Avison Young to lease the office space for The Farm, while Venture Commercial has been engaged to lease its retail space.

INDUSTRIAL

Clean Earth Company leased 69,828 square feet at 1201 E. US Highway 67 in Alvarado. George Jennings and Thomas Grafton with Holt Lunsford Commercial represented the landlord, Hearthstone Properties.

Gozova has leased 67,883 square feet at 6633 Oak Grove Rd. in Fort Worth to expand its moving and delivery business further. Younger Partners broker Tanja McAleavey represented the company.

Jess Hall’s Serendipity leased 40,625 square feet at Suffolk Business Park in Fort Worth. George Jennings and Thomas Grafton with Holt Lunsford Commercial represented the landlord, DFW SD Industrial. Gibson Duwe with Transwestern represented the tenant.

Designer’s Delivery renewed their 31,474 square foot lease at 1110 Inwood Road in Dallas. Maddy Canty and Canon Shoults with Holt Lunsford Commercial represented the landlord, Hines Holdings, Inc. The Mercer Company represented the tenant.

Goodman Distribution renewed its lease of 25,984 square feet at CPT Carter Business Center in Fort Worth. George Jennings and Hogan Harrison with Holt Lunsford Commercial represented the landlord, AEW. Brant Landry with Landry Commercial represented the tenant.

Finetechwin, Inc. renewed their 20,613 square foot lease at 1299 Commerce Drive in Richardson. Josh Barnes and Ben Wallace with Holt Lunsford Commercial represented the landlord, ATCAP Partners.

Southlake Business Park

American Bear Logistics Corp. has leased 19,451 square feet of industrial space in Southlake Business Park Building 2, 419 Bank St., from Southlake Industrial LP. Bradford Commercial Real Estate’s Noah Dodge and Joe Santaulariat, along with Nick Krejci of Darwin Realty, represented the tenant. Hogan Harrison, Matt McCarthey, and George Jennings of Holt Lunsford Commercial represented the landlord.

MULTIFAMILY

Taylor Morrison, in partnership with Pulte Homes, announced today it has purchased the first two phases of a 450-acre joint development in McKinney. The master-planned community, called Highland Lakes, is located on the north side of Bloomdale Road and south of FM 1461. Construction of Highland Lakes will begin this month and includes 50-, 60- and 70-foot-wide homesites in multiple phases. The first phase consists of 229 one- and two-story homes, 140 of which are 50 X 120-foot lots and 89 are 60 X 120-foot lots. Taylor Morrison will build 688 homes in the community.

Dallas-based S2 Capital just sold four DFW apartment communities to an out-of-state buyer. Totaling 1,418 units, the properties include Forty200, Amp at the Grid, Current at the Grid, and The Hangar. S2 is still prominent in the region, with nine properties totaling $550 million currently under contract in DFW. Northmarq Capital’s Taylor Snoddy, James Roberts, and Philip Wiegand represented S2 during the transaction.

The 19-building, three-story Watermarke property was constructed on 14 acres in 1986.

Watermarke, a 386-unit multifamily property located off Chisholm Toll Parkway in Fort Worth, has sold. The new owners plan to rebrand the property as Tides Waterfront and invest more than $7 million in renovations to building exteriors, common area amenities, and unit interior finishes. Al Siva with Marcus & Millichap’s Fort Worth office represented the seller and buyer.

The Reed Parke Apartments are expected to be completed in May 2022 and will be located at 285 SE John Jones Drive.
OFFICE

Irwin R. Rose & Company renewed its office lease for 11,254 square feet at 3811 Turtle Creek Blvd in Dallas. Transwestern’s Justin Miller, Scott Walker, and Kim Brooks represent the landlord, KBS.

Zenith Solar, LLC signed a new 6,443 square-foot office lease at 2000 E. Lamar in Arlington. Transwestern’s Theron Bryant and Casey Tounget represented the landlord.

Techsource Dental renewed its 5,559 square-foot lease at 5200 Tennyson Pkwy in Plano. Transwestern’s Justin Miller and Kim Brooks represent the landlord, KBS.

First Western Securities renewed its lease of 4,685 square feet at Willow Creek Office Building in Hurst. David Cason and Jake Neal with Holt Lunsford Commercial represented the tenant. Cole Moreano with TRXE Properties represented the landlord, HRE Willow Creek.

OBM Miami Inc. has leased 3,424 square feet of office space in Travis Walk, 4514 Travis St. in Dallas, from Intercity Investment Properties Inc. Melanie Hughes, Richmond Collinsworth, and Elizabeth Hooper of Bradford Commercial Real Estate represented the landlord. Taylor Dickerson and Read Wyse of JLL represented the tenant.

Direct Life Quote leased 3,261 square feet at 8111 LBJ Fwy in Dallas. Jessica Cyphers represented the landlord, Hartman Income REIT.

RETAIL

Four Academy Sports leased 54,372 square feet at 8050 Forest Lane in Dallas. Susan Ridley with The Retail Connection represented the landlord. Bob Moore with Tiburon Commercial represented the tenant.

Virginia Commons, a 13,878-square-foot neighborhood retail strip in McKinney, has sold. STRIVE’s Hudson Lambert represented the Seller, a North Texas investor, and cooperated with an outside broker to source the Buyer, a local Dallas-area investor.

Red Crab, a seafood restaurant, has leased a 9,036-square-foot freestanding restaurant building located at 721 N. Watson Road in Arlington for a new location. Derek Schuster and Giovanni Scardino with Weitzman handled negotiations for the landlord. The restaurant was represented by Quyen Nguyen and Eric Deuillet with Structure Commercial.

Oak Street Health, a company, backed by Humana, signed a new 8,068 square-foot retail lease at 2904 Beltline in Irving. Transwestern’s Mason Bishop represented the landlord.

The new johnnie-O store, along with the recent opening of Market by Macy’s and Zaap Kitchen, and the coming-soon location of Mamaka Bowls brings WestBend’s number of tenants to 17.

The first stand-alone store for johnnie-O, a digitally native lifestyle men’s brand, leased space at Fort Worth-based Trademark Property Company’s  278,000-square-foot WestBend development in Fort Worth.

Mariner Finance leased 1,873 square feet at Denton Crossing East, 1400-1800 South Loop 288 in Denton. David Levinson and Jack Weir with The Retail Connection represented the landlord. David Smith with CBRE represented the tenant.

Not Just Soccer has expanded its Southlake storefront. The store leased 1,435 square feet to expand its retail space to 6,315 square feet at Village at Timarron, a specialty retail center located at 601-641 E. Southlake Boulevard (FM 1709). Michelle Caplan and Maggie Hansen with Weitzman handled negotiations as exclusive leasing agents for the shopping center. Venture Commercial represented the tenant.

Fiction Coffee has leased space at the Bogart in Old East Dallas. The property is owned by M2G Ventures. 44Build is leading the construction and design of Fiction Coffee.

Fajita Pete’s has leased 1,306 square feet at Colleyville Stampede, 4712 Colleyville Blvd. in Colleyville. David Levinson with The Retail Connection represented the landlord. Campbell Anderson with Orr Commercial represented the tenant.

PERMITS

Permits have been filed to build Building 1 and at Sylvania Crossing center at I-35W in Fort Worth. Construction on the 251,000 square foot center (building 1) and 700,000 square foot center (building 2) are set to begin in May 2021 and end in December. Alliance Architects will lead design on the combined $40 million projects. 

Camp Bowie & Van Cliburn have filed permits to build a 330,500 square foot, 8-story office building and corresponding 6-story parking garage in Fort Worth. Construction on the $41 million project will begin in July 2021 and end in December 2022. GFF Architects will lead design.  

Permits have been filed to build a 213-unit, 220,000 square foot apartment complex called The Mill Old Town on 535 S. Mill St. in Lewisville. Construction on the $36 million project is set to begin in January 2022 and end in May 2023. Architecture Demarest will lead design. 

Permits have been filed to build a building in the Star Business Park on the South East Corner of Executive and Central drives in Frisco. Construction on the $5.2 million, 69,421 square foot office warehouse is set to begin in May 2021 and end in December. Alliance Architects will lead design.  

Permits have been filed to build a new, 65,088 square foot multifamily housing complex called the Shelby Lofts on 2817 Shelby Ave. in Dallas. Construction on the $11 million project will begin in June 2021 and end in August 2022. RBA Architects will lead design.  

Permits have been filed to build a 51,311 square foot U-Haul moving and storage facility at 5101 NE Loop 820 in Halton City. Construction on the $5 million project is set to begin in May 2021 and end in March 2022. America Real Estate Company will lead design. 

Real Network Services has filed permits to build a 28,000 square foot office building at 4871 Valley Ridge Drive in Irving. Construction on the $1.2 million building will begin in May 2021 and end in December. Western Continental will lead design.  

Permits have been filed to build the 16,707-square-foot Texas Back Institute at Custer Tour Crossing Retail center at 6003 S. Custer Road in McKinney. Construction on the $1 million project is set to begin in March 2021 and end in December.  

Permits have been filed to build building A in the Timber Creek Medical Plaza Retail Building at 4640 Long Prairie Road in Flower Mound. Construction on the 10,520 square foot building is set to begin in June 2021 and end in January 2022. The project is valued at $1.7 million.  

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