A massive regional distribution center for HomeGoods is headed to Carter Park East and will be the first tenant at the 556-acre master-planned industrial development in Fort Worth.
The HomeGoods’ building will encompass approximately 100 acres of land and approximately 1 million square feet. This facility will serve as a regional distribution center for HomeGoods and its sister brand, Homesense.
Rob Riner, who has been developing industrial buildings in South Fort Worth for more than a decade, said, “Carter Park East is a vision that started fifteen years ago. To witness that vision become real has been something special. We were long-term believers in this submarket and were confident that, with time, Carter Park East would become one of the premier industrial parks in DFW. This lease goes a long way toward achieving that reality.”
South Fort Worth has emerged as a primary submarket in DFW with over 4 million square feet delivered since 2017 and another 4.5 million square feet currently under construction, according to Seth Koschak, a managing director and partner at Stream Realty partners. Koschak, along with Jeff Rein and Forrest Cook, represented the landlord, Clarion Partners, and a real estate fund advised by Crow Holdings Capital to execute a 20-year lease.
Tony Kepano and Nathan Lawrence with CBRE represented the tenant in the transaction.
INDUSTRIAL/LAND
Stonemont Financial Group is planning three speculative industrial building developments in D-FW, totaling more than 1 million square feet. One project the developer has in store is a 213,000-square-foot industrial building constructed on FM156 in Fort Worth near Chaplin Drive, and it is expected to open in March 2022. Stonemont also has plans for two speculative warehouses, totaling 486,000-square-feet, in Fort Worth at Golden Triangle and Harmon Road, which is projected to open in May. The company also recently completed two projects in McKinney: a 202-square-foot distribution center at Airport Drive and Industrial Boulevard that is leased to Amazon, and two warehouses in its McKinney Airport Center, totaling 230,000-square-feet at Harry McKillop and Airport Drive.
Ben McCutchin with Younger Partners brokered the acquisition of 152.67 acres on Pelzel Road in Pilot Point. He represented Gene McCutchin in the acquisition of land that will be used for agricultural land cultivation. This land, north of FM 455 and fronting Pelzel Road, adjoins about 260 acres of land Gene already owns. Ben McCutchin also brokered two additional land sales for Gene McCutchin, totaling almost 10 acres along the south side of US 380 and west of Championship Drive in Frisco.
Steve Silver Company leased 407,195-square-feet at East Dallas Logistics Center in Mesquite. Matt Dornak, SIOR with Stream Realty Partners, represented the landlord and Adam Jones and Ryan Wolcott with Stream represented the tenant.
Rediform renewed 100,808-square-feet at 555 Airline Drive in Coppell. Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, Link Industrial Properties. Whitebox Real Estate represented the tenant.
Leon Dagerman filed a state permit to construct a 95,296-square-foot office space and warehouse on Texas Highlands Drive in Carrollton. Construction on the $6.15 million project will begin mid-September and conclude in May. Smart Architects will lead the design.
Mmarooful H. Choudhury acquired 5.2 acres of raw land at 8661-8689 John T. White Road in Fort Worth from Morteza Naghavi. Erik E. Blais of Bradford Commercial Real Estate Services represented the seller in the direct deal.
Dal-Tile Distribution renewed 34,568-square-feet at 1705 Wallace Drive in Carrollton. Sarah Ozanne and Mac Hall with Stream Realty Partners represented the landlord, Link Industrial Properties. Colliers International represented the tenant.
Bella Design Group renewed 32,625-square-feet at Arlington Business Park in Arlington. John Brewer with Transwestern represented the landlord, Fort Capital. Luke Davis and Charles Brewer with Stream Realty Partners represented the tenant.
Flair Data Systems renewed 5,314-square-feet at Parkway Centre II in Plano. Matt Wieser and Ryan Evanich with Stream Realty Partners represented the landlord. Parkway Centre II & III. ESRP represented the tenant.
Glide Rite Corp. leased 4,600-square-feet of warehouse space at 106 NW 17th Street in Grand Prairie from 3565 Venture. Jim Ferris of Bradford Commercial Real Estate Services represented the tenant, and Will Dillard of Wells CRE Industrial Commercial Real Estate represented the landlord.
OFFICE
Twinrose Investments purchased Carpenter Court, a 76,640-square-foot, four-story office building at 130 E. John W. Carpenter Freeway in Irving. Carrie Caesar brokered the transaction, and Eric Wichterman of Cushman & Wakefield with Cullen Dickey of Dickey Property Co. Happy State Bank provided financing for the purchase arranged by JLL.
DeGolyer and MacNaughton, a long-standing international petroleum consulting company, has signed a long-term lease extension for 65,543 square feet at Providence Towers at 5001 Spring Valley Road. The company will continue to occupy floors seven through nine in the East Tower, with space also serving as the company’s headquarters. Transwestern’s Kim Brooks, Justin Miller, and Scott Walker represented KBS in the negotiations. CBRE’s Jeff Ellerman and John Ellerman represented D&M.
Las Colinas TH2 filed a state permit to construct a 52,000-square-foot office building at 5101 N. O’Connor Blvd. in Irving. Construction on the $19 million project will begin in September and conclude in November 2022. Malone Maxwell Dennehy Architects will lead the design.
A California buyer bought Regent Place, a 41,661-square-foot office building at 1304 W. Walnut Hill Lane in Las Colinas. Cody Payne from Colliers International brokered the sale.
M&L Financial and Headstart Warranty Group leased 4,174-square-feet at 14114 N. Dallas Parkway in Dallas. Noah Burns represented the landlord, Hartman Income REIT.
Players Media Group has signed a 2,900-square-foot lease in Tollway Towers in Dallas. James Engels and Dan Pond of Holt Lunsford Commercial represented the landlord.
CHC Services has signed a 2,700-square-foot renewal in 3500 Oak Lawn. John Dickenson, James Engels, and Mason Pritcher of Holt Lunsford Commercial represented the landlord, and Matt Perry-Miller of Laughlin Commercial Realty Group represented the tenant.
MULTIFAMILY
Younger Partners sold 70 acres of land to Waxahachie. First Texas and TriPointe plan on developing about 185 single-family homes with prices ranging from $300,000 to $400,000 in The Oaks of North Grove, located at North Grove Boulevard and FM813 in Waxahachie. This acquisition will expand the subdivision, kickstarting its next phase. Younger Partners’ David Hinson brokered the deal between the buyer, Carrollton-based Bluebonnet Capital Partners, and the seller, a private family. The model homes will be ready this fall, and the first homes will be ready in the first quarter of 2022.
Clermont Avenue V filed a state permit to construct a six-building assisted living facility in Flower Mound. Construction on the buildings amounting to $1.42 million each will begin in September and conclude in March 2022. Cross Timbers Architects will lead the design.
Criterion Development Partners filed a state permit to construct a 270,300-square-foot, four-story multifamily complex at 9921 W. Valley Ranch Parkway in Irving. Construction on the $41 million project will begin in October and conclude in October 2023. Hensley Lamkin Rachel will lead the design.
One Turtle Creek Holdings filed a state permit to construct a 206,728-square-foot high-rise apartment and condo building. Construction on the $35 million project will begin in August and conclude in early May 2023. Lucien Lagrange Studio is the listed design firm.
CBRE announced the sale of The Ranch at Joyce Lane, a 64-unit multifamily community located at 3401 Joyce Lane in Denton. Washington State-based Woodruff Capital Partners purchased the property from Frisco-based N.O.I.S.E. Ventures. The buyer acquired the asset as part of a strategy to move capital to Texas. Chris Deuillet and William Hubbard with CBRE Capital Markets’ Investment Properties in Dallas represented the seller.
RETAIL
A new shopping center is headed to Mesquite. The Shadow Creek Crossing shopping center is planned on 7 acres at 3201 East Cartwright Road next to John D. Horn High School. The 57,500-square-foot project is planned on property owned by LF Gateway. Cypress Capital is developing the $16 million project. TRIA Ventures will manage the project.
Misscr 16 filed a state permit to construct two retail shell buildings at the corner of Preston and Ash in Celina. Celina Station building one will be 6,424 square feet, and Celina Station building two will be 6,143 square feet. Construction on the projects will begin on July 15 and end in early May 2022. Blake Architects is the listed design firm.
Asurion subleased 5,936-square-feet of flex space in Valley View Commerce Center, located at 1861 Valley View Lane in Farmers Branch, from Strippit. Brian Pafford of Bradford Commercial Real Estate Services represented the sublessor. Michael Meaden of CBRE represented the sublessee.
SJI Investment filed a state permit to construct a single-story, $12,457 retail shell building at 2417 Presidio Vista Drive in Fort Worth. Construction on the $2 million project will begin in June and end in November 2022. D1 Architect & Associates will lead the design.
