Deal Ticker

Major Insurance Provider Ditches the Suburbs for Downtown Skyscraper

Plus: Hillwood Properties plans Frisco multifamily, historic Fort Worth medical building changes hands, and more.

One of the largest recent moves from the suburbs to the city’s urban core took place when Integrity Marketing Group, a large independent insurance provider, leased 100,000 square feet of office space in the landmark Fountain Place tower on Ross Avenue. The move follows a more than $70 million renovation of the skyscraper by owner Goddard Investment Group.

The firm is moving between 300 and 400 employees from the Cypres Waters development north of LBJ Freeway and will take up six floors at Fountain Place. The move was to accommodate the firm’s rapid growth, going from 1,700 workers to 5,500 since the start of 2021. CBRE represented both the tenant and landlord in the deal. Dallas-based architect Corgan is designing the insurance firm’s new headquarters to allow for future growth.

INDUSTRIAL

Granite (Village Creek) LLC filed a state permit to construct a 605,441-square-foot shell warehouse in Fort Worth. Construction on the $21.15 million project will start in July and end in April 2022. 5G Studio Industrial will lead the design.

R&D Portfolio
R&D Portfolio

R&D Portfolio, a 374,085-square-foot, campus-style business park located in Dallas-Fort Worth’s premier Legacy submarket, has sold. Newmark’s Gary Carr, Chris Murphy, John Alvarado, Robert Hill, and Chase Tagen represented the seller. Located on 40 acres at Tennyson Parkway and Pinecrest Drive in Plano, Texas, the Legacy R&D Portfolio is 85 percent leased and comprised of seven single-story buildings.

EastGroup Properties filed two state permits to construct industrial park buildings three and four on Hardin Boulevard in McKinney, with construction starting July 1 and concluding in March 2022. Building three is a $3,98 million, 94,250-square-foot project, and building four is a $4,86 million, 116,210-square-foot project. GSR Andrade Architects is the listed design firm.

A vacant 18.22-acre site at 4201 S. Hardin Blvd in McKinney has sold to a commercial developer. The buyer anticipates developing a light industrial business park with uses similar to the Dallas Design District for a one-stop home improvement site and restaurants. The property will be divided by the future Collin McKinney Parkway. Tom Grunnah and Jeremy Lillard with Younger Partners represented the buyer and seller.

Elong International leased 264,038 square feet at 1725-1745 Hayden Drive in Carrollton. Eric Crutchfield and Mac Hall with Stream Realty Partners represented the landlord, DRA. Rich Young Company represented the tenant.

Network Wireless Solutions leased 129,611 square feet at 2040 McKenzie Drive in Carrollton. Sarah Ozanne and Mac Hall with Stream Realty Partners represented the landlord, Link Industrial Properties. Bradford Commercial Real Estate Services represented the tenant.

Colorcoat leased 43,952 square feet at Regency Business Park in Garland. Canon Shoults with Holt Lunsford represented the landlord, Cabot Properties. Luke Davis and Charles Brewer with Stream Realty Partners represented the tenant.

MULTIFAMILY

Hillwood Properties filed a state permit to build a 371,941-square-foot multifamily building with 303 residential units and approximately 16,000-square-feet of amenity space in Frisco. The $2.88 million project will begin construction in November and conclude in late November 2023. JHP Architecture and Urban Design is the listed design firm.

An affiliate of New York-based Nuveen, one of the largest institutional real estate investors has purchased the 321-unit East Dallas apartment community, The Alexan Henderson, which was built about four years ago by developer Trammell Crow Residential near the intersection of Henderson and Ross avenues.

Basswood Manor
Basswood Manor

Basswood Manor, a 212-unit multifamily property in Lewisville, has sold. Marcus & Millichap’s Al Silva represented the seller, a California-based investment company and buyer, a Dallas-based investment group.

Diamond Loch, a 138-unit apartment property in Haltom City, has sold. Nick Fluellen, Bard Hoover, and David Fersing with Marcus & Millichap represented the buyer and seller.

GPIF CD Multi, LLC filed a state permit to construct a 340,545-square-foot apartment complex in Fort Worth, consisting of 111 units, a clubhouse/pool courtyard, business center, spa, and empty retail shell. Construction on the $42 million project will begin in August and end in May 2023. GFF, Inc. will lead the design.

Las Palmitas, a 76-unit apartment property located at 414 Cora St. in Arlington, has sold. Nick Fluellen, Bard Hoover, and Wesley Racht with Marcus & Millichap’s Dallas office represented the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Fluellen, Hoover, and Racht.

Luke Bourlon filed a state permit to build a 244,637-square-foot multi-unit apartment building on Valley Ridge Boulevard in Lewisville. Construction on the $24 million project will begin in October and conclude in February 2023. Fugleberg Koch is the listed designer.

OFFICE

The Legacy R&D office campus in Plano has sold to New York City-based DRA Advisors. The campus consists of 374,085 square feet of office space. Florida-based real estate firm Accesso sold the property. Gary Carr, Chris Murphy, John Alvarado, and Robert Hill of Newmark represented the seller in the transaction.

The 3-story facility at 1212 W. Lancaster opened in 1929 as the W.I. Cook Memorial Hospital and served the general population. In 1952, the hospital shifted its focus to concentrate only on children’s medical services. In 1985, the building was purchased by a medical group that provided rehabilitation services, but it has been vacant in recent years.

Billingsley Company filed a state permit to construct a 300,000-square-foot, six-story office building in Dallas. The $45 million project will begin construction in early October and conclude in September 2022. Gensler is the listed design firm.

A 90,000 square foot historic medical building in Fort Worth has traded hands. The building, 1212 W. Lancaster, was sold to SBAB Realty. Transwestern’s Jack Huff and Grant Huff, along with Medical Real Estate Inc.’s Stan Young, represented an undisclosed seller in the transaction. The new ownership, which Vipul Shah represented, has redevelopment plans for the property that has yet to be announced.

Scannell Properties filed a state permit to construct an 82,240-square-foot business park in Wilmer. The $26.86 million project will begin construction today and conclude in April 2022. Ware Malcomb is leading the design.


Reunion Plan RE filed a state permit to construct a 55,617-square-foot rehabilitation hospital in Plano. The $17 million project will start construction in July and conclude in June 2022. There is not currently a listed design firm.

Three new leases were signed at Granite Park in Plano, totaling 34,000 square feet. The Point Group will relocate to Granite Park Three from Preston Center in June. The company will occupy 14,871 square feet. Digital.ai relocated its corporate headquarters to Granite Park Three in March. The company occupies 5,009 square feet and is formed by the merger of five leading technology companies. HNTB will relocate to Granite Park Two in August 2021. The company will occupy 14,550 square feet.

Chell Worldwide, a marketing, advertising, and public relations company that’s part of the Samsung Group has leased 19,000 square feet of offices in Legacy Central. The new location at 6600 Chase Oak Blvd. is set to open in the fall in the Legacy Central 3 building.

Mint Dentistry has relocated its headquarters to the 71st floor of Bank of America Plaza, the highest office space in Dallas. The company, which provides preventive and general dental care, was previously headquartered in Central Dallas. Its new space is 13,925 square feet. Russ Johnson and Joel Pustmueller of JLL represented the landlord, and Matt Ryon represented Mint Dentistry.

Industrious Dallas Farmers Market
Industrious Dallas Farmers Market

Industrious Dallas Farmers Market, a 23,000 square-foot flexible workspace, and Industrious’ fourth location in the greater Dallas area – opened recently in downtown Dallas.

Federal Capital Partners (the firm that partnered with Dallas-based Quadrant Investment Properties last year to purchase The International at Turtle Creek) purchased two showrooms in the Design District at Oak Lawn Avenue near Market Center Boulevard. The buildings contain more than 20,000 square feet of space.

Language Learning Market, an EdTech marketplace & PaaS startup, announced it would be expanding the company’s headquarters at MillHouse McKinney, 610 Elm St. With a grant from the McKinney Economic Development Corporation’s (MEDC) Innovation Fund, the company plans to create 17 new, high-tech and executive jobs over the next three years, bringing their total number of employees to 20, with an average salary of $100,000.

Wright Construction filed a state permit to construct a 7,918-square-foot office building in Grapevine. The $1.4 million project will start construction in October and conclude mid-May 2022. Urban Bobcat Architects is the listed design firm.

Blackwell Exploration & Development renewed 7,099 square feet at Preston Plaza in Dallas. Chase Lopez and Tim Terrell with Stream Realty Partners represented the landlord, TPG Preston Plaza.

RETAIL

Zalat Pizza
Zalat Pizza

Big Lots Store has leased the 36,000 square foot former Stein Mart (Steger Towne Center) at 2855 Ridge Road in Rockwall. Taylor LeMaster and Mike Cagle of Inroads Realty represented the property owner in this deal.

The Auto Cave has purchased a site for a new dealership at 1110 North Watson Road in Arlington. The transaction included 32,692 square feet of land and a 6,509 square-foot building. The buyer, Texas B & B Properties, a real estate arm of local used car dealer The Auto Cave, of Irving plans to open a new Auto Cave location at the site.  The sellers were Bob and Mike Moore of Bob Moore Construction, which had previously used the property for company headquarters. Bill Bledsoe and William Sanders with Henry S. Miller represented the buyer and seller.

Authentic Word Ministries leased 33,945 square feet at 4105 Denton Highway in Haltom City. Troy Morgan and Rob Exline of Structure Commercial negotiated the lease.

KP Dallas leased 17,752 square feet at 1150 Kiest Boulevard in Dallas. Rob Exline and Troy Morgan of Structure Commercial negotiated the lease.

Berlin Interests filed a state permit to construct a 14,162-square-foot retail center in Prosper. Construction on the $2.3 million project will begin in August and conclude in July 2022. O’Brien Architects is the listed design firm.

Sue Mills leased 5,638 square feet at 6080 S. Hulen Street in Fort Worth. Jake Burns of Structure Commercial negotiated the lease.

Cratos Fitness leased 4,765 square feet at 2991 W. 15th Street in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial represented the landlord, and Judy Kurtz and Jeanie Gillock of Ridge Point Commercial Real Estate represented the tenant.

Not Your Mama’s Quilt Store leased 4,250 square feet at 3055 W. 15th Street in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

Dainty Hooligan leased 3,958 square feet at 3000 Custer Road in Plano. Jeremy Cummings of Structure Commercial negotiated the lease.

Tops Café leased 3,952 square feet at 18217 Midway Road in Dallas. Jeremy Cummings and Eric Deuillet of Structure Commercial represented the landlord, and Mi Jung Youm of The Michael Group represented the tenant.

The Wing Mac leased 3,500 square feet at 2051 W. Northwest Highway in Dallas. Troy Morgan of Structure Commercial negotiated the lease.

Raising Cane’s Restaurants filed a state permit to open a 3,198-square-foot restaurant on Old Denton Road in Carrollton. Construction on the $1.5 million project will begin in mid-September and conclude in February 2022. PM Design will lead the design.

Zoom Room leased 3,000 square feet at 3180 Eldorado Parkway in McKinney. Eric Deuillet and John Hiller of Structure Commercial represented the Landlord, and Chris Flesner of Resolut RE represented the Tenant.

Wing Bucket leased 2,893 square feet at 1664 S. University Drive in Fort Worth. Jeremy Cummings of Structure Commercial negotiated the lease.

Plano Music House leased 2,535 square feet at 3047 W. 15th Street in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial represented the landlord, and Coldwell Banker Commercial NRT represented the tenant.

Dominion Restaurant leased 2,493 square feet at 300 N. Coit Road in Richardson. Troy Morgan and Brian Hanie of Structure Commercial negotiated the lease.

Spicy Zest Restaurant leased 2,400 square feet of retail space at 8427 Boulevard 26 in North Richland Hills. Jake Burns and Eric Deuillet of Structure Commercial negotiated the lease.

Albert Restaurant Group renewed 2,311 square feet at 14114 North Dallas Parkway in Dallas. Noah Burns represented the landlord, Hartman Income REIT.

Elmvale Jewelers leased 1,980 square feet at 3100 Independence Parkway in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

Zalat Pizza is set to open its 12th location. Khanh Nguyen’s cult classic pizza concept will open on June 14 at 5801 Long PrairieRoad in Flower Mound. The new location will strictly serve takeout.

Aroma Experience leased 1,340 square feet of retail space at 2515 East Rosemeade Drive in Carrollton. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

Kids Grab on the Go leased 1,174 square feet at 2515 East Rosemeade Parkway in Carrollton. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

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