Wednesday, December 7, 2022 Dec 7, 2022
76° F Dallas, TX
Deal Ticker

Granite Properties Begins Construction on Plano Office Tower

Plus: Holt Lunsford wins two leases totaling 435,637 square feet, CBRE sells nine-building industrial portfolio, and more.
By |
Image
Granite Properties

Granite Properties has kicked off construction in Plano for a 420,000-square-foot, 19-story office tower. It will be the tallest building in Granite Park, a 90-acre, mixed-use project at the southeast corner of State Highway 121 and the Dallas North Tollway.

Granite Park Six was designed by BOKA Powell, with interiors by HKS Architects. Austin Commercial will serve as general contractor.

The tower, which will be available for occupancy in 2023, has already secured Stonebriar Commercial Finance as a tenant, with the company committing to a two floor, 52,000-square-foot lease.The financial services firm, which has a balance sheet of more than $3.75 billion, will relocate from Granite Park Three.

The tenant was represented by Tyler Thomas and Scott Morse of Citadel Partners; Granite was represented in-house by Robert Jimenez and Burson Holman.

Planned amenities for Granite Park Six include a fitness studio with group classes, golf simulator, 400-seat lecture hall, three conference rooms, a market cafe, and clean-air tech via Needlepoint Bipolar Ionization.

RETAIL

MDT Caladium purchased a 85,931-square-foot shopping center anchored by Tuesday Morning and Half Price Books, at 607-735 Harwood Road in Bedford. Troy Morgan and Eric Deuillet of Structure Commercial negotiated the transaction.

Redbird Oaks, a 39,028-square-foot retail center at 7320 S. Cockrell Hill Road, has been acquired by a Plano-based investor. The seller was SEC Redbird Cockrell Hill. Taylor Black, Kevin Butkus, and Derek Schuster with Weitzman handled negotiations for the seller.

Strive has sold a 19,103-square-foot Custer Ridge in McKinney located on Custer Road. Hudson Lambert of Strive exclusively represented the seller, a local Dallas developer, and cooperated with an outside broker to source the buyer, also a local Texas investor.

Texas Galaxy Cheer and Dance leased 7,062 square feet of retail space at 4100 IH-30 in Mesquite. Court Powell of Structure Commercial negotiated the lease.

RKS Investments leased 6,177 square feet of retail space at 2011 W. Spring Creek Parkway in Plano. Jake Burns of Structure Commercial negotiated the lease.

The Retail Connection leased 5,425 square feet located at 3937 North Central Expressway in Plano to KnockOut Sports Bar. Brokers David Levinson and Paul Cooke, III, represented the landlord CH Retail Fund I. Michelle Caplan and Maggie Hansen of Weitzman were co-brokers.

AB Dance & Events leased 4,750 square feet of retail space at 6125 SW Loop 820 in Fort Worth. Jake Burns and Quyen Nguyen of Structure Commercial negotiated the lease.

A 2,852-square-foot freestanding restaurant building located at 1608 Handley Drive near the intersection with E. Loop 820, was acquired by a Dallas-based LLC. Taylor Black and Kevin Butkus with Weitzman handled negotiations for the seller, a Pennsylvania-based LLC.

The Retail Connection leased 3,040 square feet located at 519 N. Galloway Ave in Mesquite to Arona Home Essentials. Broker David Levinson represented the landlord Kimco Realty and the tenant.

Churn and Bake leased 2,831 square feet of retail space at 2707B W. 15th Street in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

Bruncheon, a unique twist on brunch and lunch, leased 2,500 square feet at the Whole Foods anchored CityLine Market in Richardson. Scott Rose of Structure Commercial negotiated the lease.

Curves Arlington SE leased 1,953 square feet of retail space at 1110 E. Bardin Road in Arlington. Troy Morgan of Structure Commercial negotiated the lease.

Melby’s Desserts, a bakery specializing in scratch-made gluten-free Italian macarons, has leased 1,600 square feet in a neighborhood retail center located at 8420 Denton Highway at its intersection with North Tarrant Parkway. Cameron Mai with Weitzman handled negotiations for Melby’s Desserts.

Kumon of Carrollton leased 1,584 square feet of retail space at 3030 N Josey Lane in Carrollton. Quyen Nguyen and Jake Burns of Structure Commercial represented the landlord and Esther Yusman of Coldwell Banker Commercial Realty represented the tenant.

Dog Spaw leased 1,380 square feet of retail space at 1110 E. Bardin Road in Arlington. Troy Morgan of Structure Commercial negotiated the lease.

Bike Labs leased 1,280 square feet of retail space at 900 Walnut Creek Road in Mansfield. Troy Morgan of Structure Commercial negotiated the lease.

Gilligan’s Pizza leased 1,203 square feet of retail space at 6728 Vickery Boulevard in Fort Worth. Court Powell and Jake Burns of Structure Commercial negotiated the lease.

Drive Smart Driving School leased 1,080 square feet of retail space at 1120 E. Bardin Road in Arlington. Troy Morgan of Structure Commercial negotiated the lease.

INDUSTRIAL

Holt Lunsford Commercial has secured two leases totaling 435,637 square feet in south Fort Worth’s Carter Distribution Center FED and Everman Trade Center.

South Africa-based RSI SmartCap, an automobile accessory manufacturer, will occupy 391,985 square feet in Carter Distribution Center. Matt Carthey and Thomas Grafton represented PGIM Real Estate in the transaction while RSI SmartCap was represented by Grant Pruitt with Whitebox Real Estate.

DCW Hollow Metal, a California-based custom door manufacturer, signed a 43,652-square-foot lease at Everman Trade Center. Matt Carthey and Thomas Grafton represented the landlord, Cabot Properties, in the transaction while DCI Hollow Metal was represented by Bob Luttrell with Newmark.

CBRE has arranged the sale of Kennington Commercial‘s nine-building Class B industrial portfolio, located in Addison and Carrollton, totaling 300,437 square feet. Birtcher Anderson & Davis and Belay Investment Group purchased the portfolio as a joint venture from Kennington Commercial for an undisclosed price. Randy Baird, Jonathan Bryan, Ryan Thornton, and Eliza Bachhuber with CBRE arranged the transaction on behalf of the seller.

Properties included in the sale were:

  • Lindbergh: A 97,840-square-foot building located at 4301-4321 Lindbergh Drive in Addison
  • McIver: A 44,522-square-foot building located at 2425 McKiver Lane in Carrollton
  • Sunbelt: A 25,566-square-foot building located at 4302-4324 Sunbelt Drive in Addison
  • Whitlock 1: Two buildings totaling 49,650 square feet at 1415-1425 Whitlock Lane in Carrollton
  • Whitlock 2: Four buildings totaling 82,859 square feet at 1325 Whitlock Lane in Carrollton

Lee & Associates has completed a lease transaction for a 13,665-square- foot industrial space at 3310 Matrix Drive in Richardson. Brett Lewis and George Tanghongs of Lee & Associates Dallas-Fort Worth represented the tenant, Corporate Magic. The landlord is Exeter property group.

Lee & Associates has completed a lease transaction for an 8,216-square-foot industrial space at 2182 Airport Lane in McKinney. George Tanghongs and Brett Lewis of Lee & Associates Dallas-Fort Worth represented the landlord, Stonemont Financial. Kellie Matijasevic of Mercer Company represented the tenant, Fastenal Co.

RESIDENTIAL

Institutional Property Advisors, a division of Marcus & Millichap, sold the The Residences at Mesa Ridge, a 492-unit multifamily asset located in Garland. IPA’s Taylor Hill, Joey Tumminello, Will Balthrope, Michael Ware, Drew Kile, and Asher Hall, in conjunction with Marcus & Millichap’s Al Silva, represented the seller, Exponential Property Group, and procured the buyer, Eagle Property Capital.

CBRE has brokered the sale of Trinity Pines, a 60-unit multifamily community located at 3815 Stuart Road in Denton. LvDGI Asset purchased the property from Irving-based K. Stephanie Baker. Chris Deuillet and William Hubbard with CBRE represented the seller.

Marcus & Millichap sold the 37-unit manufactured home community of Whitestone Mobile Home Park located at 12198 Farm to Market Road 730 N in Azle. Brad Dorsey and Robert Denninger, investment specialist in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the private investor seller.

OFFICE

Cushman & Wakefield has arranged three new leases totaling 173,769 square feet at International Plaza 2 located at 14221 Dallas North Tollway. Chris Taylor, Matt Schendle and Carrie Halbrooks of Cushman & Wakefield represented the landlord, Taconic Capital Advisors, in the lease negotiations.

Interstate Batteries, represented by Jeff Ellerman and Rich Flaten of CBRE, signed a 77,435-square-foot lease. An undisclosed 80-year-old company was represented by a separate brokerage firm for a 65,684-square-foot lease. Elizabeth Loving of Mohr Partners represented IMA Financial Group Inc. with the signing of a 30,650-square-foot lease. The new leases bring International Plaza 2 to 85 percent leased.

Community Hospital, a firm that own, manages, and consults with hospitals nationwide, has leased a new 26,500-square-foot HQ located at 7950 Legacy Drive in Plano. NAI Robert Lynn Executive Vice President Dan Jardine and Chairman and Office Division President Tom Lynn represented the tenant in this transaction. NAI Robert Lynn also negotiated the lease buyout of Community Hospital’s previous office. Community Hospital will move into its new headquarters this month.

Community Hospital’s new headquarters

Marcus & Millichap sold the 10,850-square-foot Medical Professional Building located at 541 W Main Street in Lewisville. Garrett Wolfe and Joseph Jaques had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Richard Robson and Tommy Lovell III.

A Dallas-based LLC has acquired a 9,869-square-foot freestanding single-story office building on approximately .9 acres located at 9262 Forest Lane near its intersection with IH-635. David Zoller with Weitzman handled negotiations for the seller, a Texas-based investment group. The purchaser was represented by Veronica Attlee with Attlee Realty.

Byers and Taylor Law office leased 4,728 square feet of office space at 1900 Matlock Road in Mansfield. Court Powell of Structure Commercial negotiated the lease.

Hillcrest International Medicine leased 3,994 square feet of office space at 12720 Hillcrest Road in Dallas. Rob Exline and Eric Deuillet of Structure Commercial negotiated the lease.

Allred Capital Management leased 2,852 square feet of office space at Douglas Center on 8333 Douglas Ave. Eric Deuillet of Structure Commercial negotiated the lease.

MYBLY purchased a 2,364-square-foot medical office building at 1900 Matlock Road in Mansfield. Court Powell of Structure Commercial negotiated the sale.

American Family Connections leased 2,076 square feet at 14110 N. Dallas Pkwy in Dallas. Jose Cherian with BEAM Real Estate represented the tenant and Richard Maloof represented the landlord, Hartman Income REIT.

Related Articles

Image
Commercial Real Estate

Deadline Extended: D CEO’s Commercial Real Estate Awards

The program honors North Texas’ top projects, transactions, dealmakers, and industry leaders.
Image
Awards

Nominate Now: D CEO’s 2022 Commercial Real Estate Awards

A new category was added this year to highlight hospitality projects in the region.