The Galatyn Commons Cushman & Wakefield

Commercial Real Estate

Deal Ticker: Major Telecom Corridor Office Changes Hands

Plus: Holt Lunsford Commercial completes off-market sale of 600,000 square feet of industrial space; Dallas’ iconic gold Campbell Centre has a new owner, 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 3,000 square feet, and retail leases and sales must be over 1,500 square feet. All multifamily and mixed-use deals are currently welcome. 

One of the largest office campuses in Telecom Corridor has exchanged hands. The Galatyn Commons office project in Richardson, which recently underwent a $40 million renovation, has four buildings with almost 800,000 square feet of space. Tenants in the buildings include Goldman Sachs, Steward Healthcare, Service King, and Raytheon. A fourth building houses operations of Bank of America. A company set up by Singapore-based Mapletree Investments Pte has purchased parts of the site. County deeds show that a unit of Mapletree U.S. Management that’s based in New York took the deed to the property last week.

HOTEL

Marriott has filed permits to build a 74,000 square foot Residence Inn hotel at 3128 S. Highway 161 in Grand Prairie. Construction on the $7.75 million project is set to begin in July 2021 and end in October 2022. Nile will lead the design.  

INDUSTRIAL

M2G Ventures completed its 645,000 square-foot Class A industrial park development, North Quarter 35. The development is located near Alliance Airport, Meacham Airport, less than 20 minutes from DFW International Airport, with access across the Alliance and Meacham Fossil Creek submarkets.

Turnpike 3 and Turnpike 4, two industrial buildings in West Dallas, have been sold to Dogwood Industrial Properties (Dogwood). Turnpike 3 and Turnpike 4 encompass more than 600,000 square feet of industrial space. Backed by TPG Real Estate Partners, Dogwood acquires, owns, and operates high-quality, infill, multi-tenant industrial assets in strategic, growth-oriented metropolitan markets. Holt Lunsford Commercial completed the off-market deal.

The new office, which features 234 Arteriors products installed within the built environment, highlights the company’s progressive approach to the post-COVID workspace.

Arteriors, a leading provider of luxury furniture, lighting, and decor for residential and commercial settings, has officially moved into headquarters to a brand new 35,000 square-foot office building and an adjacent 300,000 warehouse at 1901 Midway Road in Lewisville.

Nokia renewed 223,062 square feet at 121 Lakepointe Crossing 1 in Lewisville. Bob Hagewood and Mac Hall with Stream Realty Partners represented the landlord, Stockbridge. Colliers International represented the tenant.

REV1 Holdings has leased 133,281 square feet at FED Carter Distribution Center, 1851 Joel East Road in Fort Worth. Matt Carthey and Thomas Grafton with Holt Lunsford Commercial represented the landlord, PGIM. Brad Lipton with Mohr Partners represented the tenant.

Permits have been filed to build two shell buildings totaling 81,296 square feet at the Hamilton Matthew Business Center at 2129 W. Bardin Road in Grand Prairie, Construction on the $5.7 million project is set to begin in June and end in November. Meinhardt & Associates will lead design.  

Communications Test Design leased 63,346 SF and renewed their 105,642 SF lease at Lakeside Corporate Center in Flower Mound. Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, DWS. Lee & Associates represented the tenant.

MULTIFAMILY

Permits have been filed to build a five-building, 368-unit, 377,688 square foot apartment complex at 4600 Fossil Ridge Circle in Haltom City. Construction on the $69.2 million project, called Jefferson Fossil Creek, is set to begin in August 2021 and end in August 2023. Architecture Demarest will lead design.  

Villas at Wylie

Villas at Wylie, a 303-unit apartment building located at 600 Woodbridge Parkway, has sold. The seller is an Oregon-based operator, Hayden Properties, and the Buyer is Lionel Partners, a Utah-based investor. Zac Thomas and Sean Reynolds of Greystone ISG procured the Buyer and represented the seller.

Permits have been filed to build a 213,571 square foot multifamily living community called Standard at Harmon Homes at the NEC of White Feather Lane and Horseman Road in Fort Worth. Construction on the $25 million project is set to begin in July 2021 and end in July 2023. Archon Corporation will lead the design.  

Permits have been filed to build a 5,000 square foot, 288-unit apartment complex called Alta 3Eighty in Little Elm. Construction on the $1.5 million project is set to begin in August 2021 and end in August 2023. Design Balance will lead design. 

Park Place

Park Place, a 213-unit multifamily apartment complex located at 240 Park Place Blvd, in Waxahachie, has sold. The project is Kalterra Capital Partners’ second sale this year and one of three ground-up multifamily developments expected to transact in 2021 by Kalterra. The 12-acre site is directly adjacent to Waxahachie’s Sport Complex. Premium Property USA partnered with Kalterra Capital Partners in the closing of Park Place.

Sky Landing Apartments, a 144-unit property in White Settlement, has sold. Sky Landing is a 1968 build and is located off Ralph and Clifford streets. The Multifamily Groups’ Jon Krebbs represented the seller and procured the buyer.

OFFICE

California-based Fenway Capital Advisors have acquired Dallas’ iconic gold Campbell Centre office development with plans to rejuvenate and modernize the building’s interior.

Communications Test Design leased 63,346 square feet and renewed its 105,642 square foot lease at Lakeside Corporate Center in Flower Mound. Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, DWS. Lee & Associates represented the tenant.

Informative Research has renewed its lease of 18,006 square feet at Las Colinas Commons in Irving. Geoff Shelton and Marshall Mays with Holt Lunsford Commercial represented the landlord, West Walnut Hill, LLC.

New York-based C-III Capital Partners has moved its regional headquarters to a 10,000-square-foot space in Irving. The four-mile move from 5221 N O’Connor Blvd. to 6031 Connection Dr. provides a more convenient location for over 40 employees.NAI Robert Lynn’s Tom Lynn and Zach Stevens represented the tenant in the deal, along with NAI Global’s Jay Olshonsky. Sarah Kennington and Bryce Jackson of Thirty-Four Commercial represented the landlord, Piedmont Office Realty Trust, in the deal.

Absolute Urgent Care has filed permits to build a 5,300 square foot office building at 26631 Hwy 380E in Providence Village. Construction on the $1 million project is set to begin and end in May. Eikon Engineering will lead design.  

Elite Healthcare Ft Worth leased 4,914 square feet at Western Insurance in Fort Worth. Marshall Mays with Holt Lunsford Commercial represented the landlord, Bridgestone Realty. Gretchen Miller with Weitzman represented the tenant.

Better Living has signed a 4,300 square foot expansion in The Atrium at McDermott. James Engels and Dan Pond of Holt Lunsford Commercial represented the landlord.

Enercon Services has leased 3,376s square feet at One Ridgmar in Fort Worth. Geoff Shelton, Matt Carthey, and Jake Neal with Holt Lunsford Commercial represented the landlord, Frontier Equity. Thomas Savage and Jordon Wade with Transwestern represented the tenant.

RETAIL

Weatherford Commons

An investment LLC based in the Houston area has acquired Weatherford Commons, a 34,448-square-foot retail center located at 1930-1974 South Main Street, for an undisclosed price. Gretchen Miller and Matthew Rosenfeld with Weitzman handled negotiations for the seller, a Fort Worth-based LLC.

Fit Body Boot Camp has leased 4,674 square feet at 1310 W Campbell Road in Richardson. Samuel Hartley of RESOLUT RE represented the tenant. Alan Sandgarten of Quine & Associates represented the landlord.

Murphy Express has filed permits to build a new, 2,800 square foot store at 11939 Plano Road in Dallas. Construction on the $1.1 million project is set to begin in December 2021 and end in April 2022. CEI Engineering Associates will lead design.  

Murphy Express has filed permits to build a new, 2,800 square foot store at 6021 Campbell Road in Dallas. Construction on the $1.1 million project is set to begin in November 2021 and end in December. CEI Engineering Associates will lead design. 

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