Deal Ticker

Massive Health and Wellness District Heads to Frisco Station

Plus CBRE brokers the largest single-asset multifamily transaction in Texas history; Hillwood to add 1 million square feet at AllianceTexas; and more.

Dallas-based Cambridge Holdings, a national healthcare, commercial office and mixed-use real estate firm, has entered into an exclusive agreement with the Frisco Station Partnership to develop Health & Wellness District within Frisco Station.

Once fully built out, this district will be 35 acres of the 242-acre development.

“With Cambridge joining our team, we are reaching the full potential of Frisco Station as a globally recognized Smart, Creative, and Healthy mixed-use neighborhood,” said Trey Sibley, general manager of The Rudman Partnership. “As a well-known powerhouse, Cambridge brings the most innovative approaches to health and wellness-related development. We couldn’t be more pleased to have them join us as we execute what’s considered to be the crown jewel of the project – the place where residents and visitors can experience ways to live healthier, more active and longer lives.”

Cambridge develops healthcare projects nationwide, including dozens of facilities on hospital campuses across North Texas.

A result of a prominent partnership between Rudman, Hillwood, and VanTrust Real Estate, Frisco Station Partners has delivered 650,000 square feet of office space, 955 units of multifamily housing, 450 hotel rooms and six acres of a programmed park system since launching the project in 2015.

INDUSTRIAL

Hillwood has announced it will break ground on two new industrial speculative buildings, Alliance Center North 8 and 9, totaling nearly 1 million square feet at AllianceTexas. Alliance Center North 8 will total 441,720 square feet, and Alliance Center North 9 will add 493,920 square feet of modern, Class A logistics distribution space to AllianceTexas. Hillwood will start construction in December 2021, with scheduled completion in the third quarter of 2022.

220 E. Danieldale Road
220 E. Danieldale Road

Diab Americas has leased 265,248 square feet of warehouse space in I-20 Corporate Center, 220 E. Danieldale Road in DeSoto, from 220 E. Danieldale Partners. Kevin J. Santaularia, Michael W. Spain, and Michael T. Grant of Bradford Commercial Real Estate Services represented the landlord. Craig Jones and Caleb McCoy of JLL represented the tenant.

CSG Systems leased 153,550 square feet at Mark IV Commerce Park-Building 3 in Fort Worth. Seth Koschak, Forrest Cook, and Jeff Rein with Stream Realty Partners represented the landlord, Dalfen Industrial. Lee Diamond, Bob Scully, and Brice Wells with CBRE represented the tenant.

RuffleButts leased 75,635 square feet at Lakeport 2499 in Flower Mound. NAI Robert Lynn represented the landlord, EastGroup Properties. Bob Hagewood and Jeremy Kelly with Stream Realty Partners represented the tenant.

Wisenbaker Builder Services leased 30,000 square feet at 301 Vista Ridge Mall Drive in Lewisville. Timothy Vogds with CBRE represented the landlord, Buzzlords. Ryan Boozer and Lena Pierce with Stream Dallas and Grant Wisenbaker with Stream Houston represented the tenant.

Quality Custom Distribution renewed and expanded its 25,773-square-foot lease at 2801 Network Blvd in Frisco. Transwestern’s Billy Gannon represented the tenant in the transaction, alongside Chon Kantikovit with Cushman & Wakefield.

Ed F. Davis renewed 24,234 square feet at Northgate Distribution Center 1 in Dallas. Trevor Atkins with CBRE represented the landlord, Link Logistics. Ryan Wolcott and Adam Jones with Stream Realty Partners represented the tenant.

Bensonhurst purchased an 18,064 square foot industrial building at 217 & 229 Yorktown Street in Dallas. Jason Moser with Stream Realty Partners represented the seller, Benchmark Exchange.

DNCL Techzone signed a new 8,400 square foot lease at 801 Airway in Fort Worth. Transwestern’s Todd Hawpe represented the landlord, Texas Industrial RE Corp.

MULTIFAMILY

Parkside at Craig Ranch
Parkside at Craig Ranch

Parkside at Craig Ranch, a 1,824-unit, five-phase multifamily community within Craig Ranch, a 2,200-acre master planned community in McKinney, has sold. The sale marks the largest single-asset multifamily transaction in Texas history. Funds sponsored by Harbert Management Corporation purchased the property from Columbus Realty Partners. Danny Baker, Johnathan Makus, Nita Stewart, Chandler Sims, Kevin O’Boyle and Mikey Bryant with CBRE Capital Markets’ Dallas Multifamily team represented the seller. Mike Bryant, Jon Wooton and Kathryn Womble with CBRE’s Debt & Structured Financing (DSF) team arranged a $242 million loan on behalf of the buyer. Constructed between 2013-2021, the property’s new owners are likely to modernize unit interiors in Phase 1 and upgrade technology throughout the project.

OFFICE

The sale of 600 E. Las Colinas Blvd. office tower is one of the largest of an estimated 14.6 million square feet of office space traded across Dallas-Fort Worth this year. Dominus Commercial, Inc. partnered with Convergent Capital Partners and Third Lake Capital to acquire the 512,269-square-foot 22-story property headquartered by JPI Companies. The new ownership group has plans for a $20 million renovation, said Stephen LaMure, president and CEO of Dominus Commercial. The building sits on almost 5 acres. The high-rise was built in 1982 and is valued for property taxes at more than $8 million.

Waterview 190 North and South, a two-building, three-story suburban office campus located along the 190 STEM Corridor, across from University of Texas Dallas, has sold, aggregating approximately 230,000 square feet. Colliers handled the sale.

Amber Trails
Amber Trails
KOA Partners

KOA Partners purchased Amber Trails, a two-building Class A office campus at 17111/17177 Preston Road. KOA plans to complete an extensive renovation of the 150,000 square feet of office space and building. KOA Partner’s Leander Johnson will oversee leasing activity. Lincoln Property Company will provide property management support.

North Texas Behavioral Health Authority leased 14,054 square feet at 8111 LBJ Freeway in Dallas. Richard Maloof represented the landlord, Hartman Income REIT.

Valiant Enterprises singed a new 11,352 square foot lease at Coit Central Tower in Dallas. Transwestern’s Billy Gannon represented the tenant. Transwestern’s Nathan Durham and Natalie Serio represented the landlord, ATCAP Partners.

North Texas Allergy & Asthma signed a new 8,712 square foot lease at 5068 W Plano Pkwy. in Plano. Transwestern’s Michael Griffin represented the tenant in the transaction.

Allie Bess has leased 4,093 square feet of office space at 11882 Greenville Ave. from SOHO/Davis FG. Richmond Collinsworth and Jared Laake of Bradford Commercial Real Estate Services represented the landlord. Harlan Davis of CBRE represented the tenant.

Phoenix Associates Counseling Services has leased 3,596 square feet at 11886 Greenville Ave. from SOHO/Davis FG. Richmond Collinsworth and Jared Laake of Bradford Commercial Real Estate Services represented the landlord. Chris Stout of JLL represented the tenant.

RETAIL

3677 W. Emporium Circle
3677 W. Emporium Circle
Weitzman

A Richardson-based real estate investment group has acquired a 73,872-square-foot freestanding retail building on 9.2 acres located at 3677 W. Emporium Circle near its intersection with Childress Avenue, for use as showroom and warehouse space for wholesale nail salon supplies. Cameron Mai with Weitzman handled negotiations for the purchaser. Mason Bishop with Transwestern represented the seller, a Houston-based investment partnership. The location formerly housed an Academy Sports & Outdoors sporting goods superstore and is in the Town East Mall regional retail district.

CarLotz, the nation’s largest consignment-to-retail used car marketplace, has signed a ten-year lease at 1001 Preston Road in Plano. The location is approximately 62,519-square-feet. JLL’s Rob Franks, John Simmons and Spotty Robins represented the tenant. David Guinn with Davidson Bogel represented the landlord.

Rally House leased 8,000 square feet at Denton Crossing West. David Levinson and Jack Weir with The Retail Connection represented the landlord, RPAI. Tripp Russ with RUE represented the tenant.

Recovering Christianity signed a new 7,170 square foot lease at 451 University in Fort Worth. Transwestern’s Grant Huff represented the tenant in the transaction.

Big Love Coffee and Patty’s Pies has leased 3,000 square feet of restaurant space at 508 Centennial Blvd. in Richardson. The new concept comes from Market Street Hospitality, Inc., owners of Ellen’s and soon to open Ristorante Andrea and Jack Ruby’s Saloon and Grill. Andy Anderson with Restaurant Properties Group represented the tenant.

Neurotherapy Center of Dallas renewed 2,260 square feet at 12850 Hillcrest Road in Dallas. Lynna Smith represented the landlord, Hartman Income REIT.

NobiliTea has leased 1,600 square feet at Victory Shops Forney III (485 Marketplace Blvd. in Forney). Gavin Fite of RESOLUT RE represented the tenant. Mike Smith and Ian Peterman of Victory Real Estate Group represented the landlord.

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