District 121

Commercial Real Estate

Deal Ticker: Developers Break Ground on $250 Million Mixed-Use Project in McKinney

Plus: A massive industrial park is headed to Mesquite; Mi Cocina to begin renovations for Klyde Warren Park location, and more.

Share your top deals by emailing Real Estate Editor Bianca R. Montes at [email protected]. Industrial leases and sales must be over 50,000 square feet, office leases and sales over 2,500 square feet, and retail leases and sales must be over 1,000 square feet. All multifamily and mixed-use deals are currently welcome. 

A $250 million mixed-use project will break ground this month in McKinney, bringing with it 40,000 square feet of retail and restaurants and 520,000 square feet of office space. The District 121 development is on one of the last vacant portions of Craig Ranch—a community valued at $2 billion.

Called District 121, the site will be anchored by a nearly 200,000-square-foot office tower to be constructed by Kaizen Development. JLL’s Blake Shipley and Lauren Perry are marketing the building, slated to open in May 2022.

Called District 121, the site will be anchored by a nearly 200,000-square-foot office tower to be constructed by Kaizen Development. JLL’s Blake Shipley and Lauren Perry are marketing the building, slated to open in May 2022.  Set to be one of Collin County’s largest office projects, the development will include onsite amenities such as structured parking, a fitness center, a golf simulator, a tenant lounge, and a conference facility.

A green space called The Commons will serve the development and was partially funded by a $2 million grant from the McKinney Community Development Corp.

INDUSTRIAL

Dallas-based Urban Logistics Realty is developing a massive industrial park in Mesquite. Alcott Logistics Station will be located south of E. Scyene Road and west of Faithon P. Lucas Sr. Boulevard. The $130 million development will have 2.3 million square feet of new industrial space spread across six warehouses.

Walmart is planning the more than 1 million-square-foot distribution center in the AllianceTexas development in North Fort Worth. The warehouse center will be in the Westport 11 building at 14700 Blue Mound Road. Renovations to the warehouse will cost $13 million, according to permit records.

Careismatic Brands has leased 152,225 square feet at Turnpike Distribution Center 4, 2130 French Settlement Road in Dallas. Gary Lindsey with Newmark represented the tenant. Younger Partners represented the landlord.

CHEP USA leased 70,000 square feet at Lakeside Trade Center – Building 1 in Flower Mound. Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, Clarion Partners. Greg Lance with Cushman & Wakefield represented the tenant.

Brunton International subleased 63,000 square feet at Valley View Business Center, 6375 FAA Blvd. in Fort Worth, from Tosca Services. Frank Puskarich, Jim Cooksey, Louis Pascuzzi, and Reid Halverson with Newmark represented the subtenant.

AllTrades Industrial Parks has filed a building permit to construct a multi-tenant building at 1740 Briercroft Court in Carrolton. The $2.1 million project will start construction this July. GPD Group Professional Corporation will lead design.

MULTIFAMILY

French Colony

French Colony, a 94-unit apartment property located at 1235 Hartsdale Drive in Dallas, has sold. Al Silva and FordBraly with Marcus & Millichap represented the buyer and seller.

OFFICE

AIR System Components leased 28,880 square feet at 1401 N. Plano Road in Richardson. John Wolf and Sara Fredericks with Newmark represented the landlord. CBRE represented the tenant.

SCA Promotions extended its 22,064 square feet lease at 3030 LBJ Freeway in Dallas. Chris Mason, John Beach, Reggie Beavan III, Andy Iversen, and Jack Brewer with Newmark represented the tenant. JLL was the landlord representative.

TexMalt leased 10,800 square feet at 6200 S. Freeway in Fort Worth. Art Leichner and Andrew Crites with Newmark represented the tenant. NAI Robert Lynn represented the landlord.

AllsecTech restructured its 6,000 square foot lease at Gateway West II, 6303 Commerce Drive in Irving. Chris Mathis, Trace Elrod, Reggie Beavan III, Chris Mason, John Beach, and Andy Iverson represented the tenant. Stream Realty Partners was the landlord representative.

Back Forty MM purchased 4,739 square feet at 160 Southwestern in Coppell. Newmark’s Cole Collins represented the buyer. Stream Realty Partners represented the seller.

Milestone Home Services and Welborn Garage leased 2,527 square feet and 3,059 square feet respectively at Firewheel Town Center, located at 245 Cedar Sage Drive in Garland. Lauren Halstedt and Garrett Nerren of JLL represented the landlord. Both Dallas-Fort Worth-based companies are estimated to occupy the spaces in Q2 2021.

ESI Healthcare Business Solutions renewed 2,595 square feet at 8111 LBJ Fwy in Dallas. DeMarcus Owens represented the landlord, Hartman Income REIT.

RETAIL

Frisco Crossing has sold. The 100 percent occupied, six-tenant strip is located at the intersection of Independence Pkwy. and the Sam Rayburn Tollway. Hudson Lambert of STRIVE represented the seller and buyer.

Mi Cocina on the Park has filed a $2 million building permit to renovate a former dining space at Klyde Warren Park in downtown Dallas. Construction is expected to begin this June on the 2,990 square foot space.

PJ’s Coffee of New Orleans has leased 2,192 square feet at 5555 Rufe Snow Drive in North Richland Hills. Colin Cannon and Spencer Bowman of RESOLUT RE represented the tenant. Greg Hoffman of Younger Partners represented the landlord.

European Wax Center leased 1,998 square feet at Denton Crossing, 1400-1800 South Loop 288 in Denton. David Levinson with The Retail Connection represented the landlord. Taylor Roberts with CBRE represented the tenant.

StretchLab, offering one-on-one assisted stretching by certified professionals, has leased 1,200 square feet of retail space at Flower Mound Town Center, a community center located at the southwest corner of Cross Timbers Road (FM 1171) and Long Prairie Road. Giovanni Scardino with Weitzman handled negotiations for the shopping center. The Retail Connection represented the fitness concept.

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