Deal Ticker

North Texas Industrial Portfolio Exchanges Hands

Plus: Two Uptown multifamily sell; two new restaurants join Omni Dallas Hotel’s Lamar collection; and more.

TA Realty, a real estate investment firm out of Boston, has purchased a five-project portfolio in North Texas. The sale includes nearly 700,000 square feet of shallow bay industrial development in major distribution submarkets across North Texas, including Lewisville, Carrollton, McKinney, and Richardson. Each of the assets, previously owned and developed by HLCI, broke ground in late 2020 and were delivered between May-August 2021.

The portfolio sale is a product of Holt Lunsford Commercial Investments’ Fund I, a discretionary fund it has nurtured over the past three years that’s acquired 1.1 million square feet and developed 2.2 million square feet of shallow bay industrial. HLCI also closed on their Fund II in June 2020, a strictly industrial discretionary fund that seeks to invest in multiple markets across the sunbelt states. Fund II is already fully allocated and includes seven new developments, which broke ground in October 2021.

“Infill industrial development has been a key part of our strategy over the last 12 months,” said Todd Marchesani, vice president of development for HLCI. “The industrial market is a top-performing sector, and we have seen growing demand for infill locations due to proximity to population density.”

HLCI’s current portfolio consists of 2.4 million square feet of industrial and office buildings and approximately 300 acres of land in preparation to build roughly 4 million square feet of new development. In addition, over the past three years, HLCI has sold 23 projects totaling approximately 3.4 million square feet, valued at over $330 million.

INDUSTRIAL

Elements International Group leased 260,600 square feet in Mesquite. Brett Lewis, Taylor Stell, and Reid Bassinger of Lee & Associates Dallas-Fort Worth represented the Landlord, Prologis Inc. – Dallas Office. Prologis, Inc. is a multinational logistics real estate investment trust headquartered in San Francisco, California.

Sika leased 249,093 square foot industrial space located at 2075 Midway Road in Lewisville. Adam Graham, Mark Graybill, and Johnny Anderson of DFW Lee & Associates represented the landlord, First Industrial Texas.

745 West Hurst Blvd. in Hurst
745 West Hurst Blvd. in Hurst

JOGA, a Grocer and food product distributor based in Houston, has acquired an 82,250 square foot building at 745 West Hurst Blvd. in Hurst with plans to expand their operations within the Dallas-Fort Worth area. The purchase also included a 4.5-acre lot adjacent to the property. JOGA projects that the facility will create upwards of 50 new jobs in the Tarrant County area.  The building was originally part of the Bell Helicopter facilities along with SH 10 in Hurst. Don Plunk of Emory Associates represented the seller, and the purchaser was represented by Anastacio Sanchez of SIS Group of Houston. The Seller was Industrial Mancave.

Colinas Business Park, a 64,688 square foot property in Irving, has sold. Joseph Jasques and Ron Hebert at Marcus & Millichap represented the seller.

Amory Construction leased a 12,104 square foot industrial space located at 2515 Tarpley Road in Carrollton. Johnny Anderson, Mark Graybill, and Adam Graham of Lee & Associates Dallas-Fort Worth represented the Landlord, Stonelake Capital Partners.

MULTIFAMILY

Sawyer West Village Uptown
Sawyer West Village Uptown

The Sawyer West Village Uptown, which has a total of 178 units, and Radius Turtle Creek, a 165-unit apartment complex, have sold. IPA’s Drew Kile,  Joey Tumminello, Michael Ware, Taylor Hill, Grant Raymond, and Will Balthrope represented the sellers and procured the buyers.

OFFICE

The Plaza at Solana
The Plaza at Solana

Albany Road Real Estate Partners has acquired a 366,000-square-foot office campus in Dallas. A fund sponsored by CBRE Investment Management closed on a $66.3 million mortgage loan. The Class A office and retail campus, known as The Plaza at Solana, spans three separate buildings in Dallas’ Southlake/Westlake submarket. Cullen Aderhold of JLL arranged the loan on behalf of Albany Road Real Estate Partners.

Highlands Tower, a 73,859 square foot five-story office building at 701 Highlander Blvd. in Arlington, has sold in an off-market transaction with Arlington Orthopedic Associates. The seller of record is This Land is Highland LLC, a single-purpose entity of SkyWalker Property’s When Opportunity Knocks investment fund. Keller Williams signed a new long-term lease for 12,518 square feet a few months before SkyWalker Properties approached AOA about purchasing the building.

One World has leased 23,080 square feet at Coppell Business Center II, 1461 S Belt Line Road. One World, a full-service shutters and blinds company. Ben Crancer, Sean Smith, and Brendan Zrowka represented the tenant on this transaction, and Tom Kuhlmann of Lincoln Property Company represented the landlord.

Whitebox Real Estate, LLC was pleased to represent One World in their new lease at Coppell Business Center II.  The 23,080 SF lease at 1461 S Belt Line Road in Coppell will serve as a home base for One World, a full-service shutters and blinds company.  Ben Crancer, Sean Smith, and Brendan Zrowka represented the tenant on this transaction, and Tom Kuhlmann of Lincoln Property Company represented the landlord.

Lincoln Centre
Lincoln Centre

Four new leases have been signed at Lincoln Centre, a multi-building campus in Dallas. The new leases include a 15,000-square-foot lease with Slalom, a 10,079-square-foot lease with Andersen Tax, a 10,338-square-foot lease with Bridgecrest, and an 11,129-square-foot lease with Bridge Tower. Additionally, Hallmark Financial signed a 16,588-square-foot expansion. In the lease negotiations, Matt Schendle, Clint Madison, and Zach Bean of Cushman & Wakefield represented the landlord, Nuveen Real Estate.

Evolv, a Dallas-based management and technology consulting firm, has leased 24,928 square feet of office space for their headquarters at Tollway Plaza in Dallas. In lease negotiations, Tommy Nelson and Shannon Brown with CBRE in Dallas represented the landlord, Buchanan Street Partners. Sebastian Sheetz with Sheetz Realty Advisors represented evolv. Founded in 2018, the company has grown to 75 employees and has plans to hire an additional 250 employees in the next few years.

LFP Properties has acquired the 15,365-square-foot Glenview Professional building, 4109 City Point Dr. in North Richland Hills, from Real Estate Cowboy Holdings. Erik Blais of Bradford Commercial Real Estate Services represented the buyer. Phillip Maxwell of Glacier Commercial Realty represented the seller.

Zthernet leased 4,720 square feet at 1333 Corporate Dr. in Irving. Allison Fannin represented the landlord, Hartman Income REIT.

Nobis Rehabilitation Partners has added 4,084 square feet of office space for a total of 7,775 square feet at 450 Century Pkwy. in Allen. Jared Laake and Richmond Collinsworth of Bradford Commercial Real Estate Services represented the landlord, CP 450 Global Investors LLC. David Rudd of Avison Young represented the tenant.

True Commodities leased 2,151 square feet at 8111 LBJ Freeway in Dallas. Yvette Rodriguez represented the landlord, Hartman Income REIT.

RETAIL

Kathy Tran

Hops & Hens and Pegasus Pizza have joined Omni Dallas Hotel’s Lamar collection at 665 S. Lamar St. Both will be overseen by Executive Sous Chef Erik Carlson, who joined the Omni Dallas team in 2018.

7-Eleven has leased 4,650 square feet at Red Oak Pad Site (Ovilla Road and Hickory Creek Drive in Red Oak). Brian Sladek and Chris Flesner of RESOLUT RE represented the landlord. Pete Podesta of SHOP Companies represented the tenant.

Fish N’ Tails Oyster Bar, a neighborhood seafood restaurant and oyster bar, has leased 4,000 square feet of retail space in Dalrock Crossing, a shopping center located at 6310 Dalrock Road at its intersection with Lakeview Parkway/Highway 66, for a new location. David Zoller and Corbin Tanenbaum with Weitzman handled negotiations as project representatives for the shopping center. Kyle Hardesty with Hardesty Realty Group represented the restaurant

255 W. Commerce St. and 715 Fort Worth Ave.
255 W. Commerce St. and 715 Fort Worth Ave.

Two retail properties in West Dallas located at 255 W. Commerce St. and 715 Fort Worth Ave. recently sold to investors. Patrick Hunt and Cullen Finnegan of Trinity Southwest Commercial Real Estate represented the sellers in each transaction. Charlie Perdue of Perdue Realty Corp represented the purchaser of 255 W. Commerce.

Eat The Frog Fitness has leased 3,600 square feet at Highland Oaks, 861 N. Tarrant Pkwy in Keller. Chris Flesner of RESOLUT RE represented the tenant. Roger Smeltzer Jr. of Vision Commercial Real Estate represented the landlord.

Quince, a global, award-winning restaurant, is coming to Fort Worth’s WestBend development. Quince’s first U.S. location is slated to open early next year. Created by former Fort Worth hedge fund manager Brian Sneed, with its first location in San Miguel de Allende, Mexico, the open-air concept is known for offering fun food concepts with great city views. The Quince WestBend restaurant will be located along the Trinity River, overlooking the Fort Worth Zoo and nearby wooded area.

sweetgreen, the mission-driven restaurant brand serving healthy food at scale, will open its first Dallas restaurant on Nov. 23 in West Village at 3636 McKinney Ave., Suite 100.

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