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Dallas Regional Chamber Renews Lease in Ross Tower

Plus: Colliers sells 326-unity multifamily property in Allen; Fort Worth's Chisholm Trail Ranch master planned community enters final phase; and more.
By Taysha Billinger |
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Ross Tower

The Dallas Regional Chamber has renewed its 10-year lease on the 26th floor of Ross Tower, located in Downtown Dallas. The 25,436 square-foot office lease was negotiated by Russell Crosby, Blake Waltrip, and Brad Selner of JLL, and CBRE’s Harlan Davis and Phil Puckett. Representing Ross Tower were HPI’s Hunter Lee, Ben Cuzen, and Luke Aviles.

“There’s no better place to promote the greater region than looking out our office windows, surrounded by the many communities we serve every day,” said Angela Farley, CFO and COO at the DRC. “As a non-profit entity, we have financial limitations to be good stewards for our members, and thanks to JLL, CBRE, and our landlord, HPI, they helped us secure long-term, prudent investment. We’re honored to remain a marquis tenant here.”

The Class A, 45-story high-rise building, which was renamed Ross Tower in 2013 because it overlooks Ross Avenue, provides a cityscape view of the entire region including Oak Cliff, Fair Park, Arlington, Fort Worth, DFW Airport, Plano, Irving, Grapevine, and Midlothian.

“It was critical to be in a Class A building that helps us best represent the region to both current and incoming companies,” Farley said. “We couldn’t have asked for a better economic development recruiting tool.”

Industrial

Ascend Distribution recently acquired 11,595 square feet of distribution space at 1925-39 N Great Southwest Parkway in Grand Prairie after leasing with 1925 N. Great Southwest Pkwy. Bradford Commercial Real Estate Services’ Jason Finch represented the tenant. Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the landlord.

Salsa Havana renewed its lease of 7,400 square feet at Riverbend Business Park in Fort Worth. William Wilson and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Properties.

Savage Bros, an industrial and commercial painting company, renewed 7,000 square feet of warehouse space located at 4301-23 Lindbergh Dr, Addison Texas. The company initially signed the lease in 2019 buying the warehouse from Bailey Publishing & Communications. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, and Steam Realty Partners’ Eric Crutchfield represented the tenant.

A commercial and industrial electric company Microplex Electric alongside Precision Bytes, an MBE certified tech company, renewed its lease of 3,000 square feet each at Riverbend Business Park, a thirty-two building industrial complex located at E Loop 820 N & Trinity Blvd in East Fort Worth. William Wilson and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Properties. 

Michael Porter renewed its lease of 2,000 square feet at Riverbend Business Park, Fort Worth. William Wilson and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Properties.

Dash Masters recently purchased a 7-Eleven from seller Sushil Chaugi, located at 3025 Hardrock Road, Grand Prairie. Thomas Grafton and Matt Carthey with Holt Lunsford Commercial represented the landlord.

Office

T2V Properties negotiated a 34,188 square-foot lease with two out-of-state trusts after completing the first phase of Westridge Park located at 1410 N Westridge Circle in Irving. The Class A, three-story office space was sold in shell condition and was financed by EB-5, a national investment firm. Richmond Collinsworth and Jared Laake of Bradford Commercial Real Estate represented the seller. Stephen Gebren of Gebren Consulting Services acted as the seller’s consultant. 

Dallas personal injury law firm, Crain Brogdon Rogers signed a ten-year lease for 5,140 square feet of office space on the top floor at Energy Square, located at 4925 Greenville Avenue. CBRE’s Ryan Buchanan represented the tenant in the sale. Moving the office to the more lively Greenville Avenue, will give more ease of access to visitors, and gives tenants proximity to popular restaurants and retail options, including Central Market, Tom Thumb, Velvet Taco, and Ozona Grill and Bar.

Naidoo Law Firm has renewed 2,119 square feet of office space in Forest Green Office Park, located at 11910 Greenville Ave., Dallas. Richmond Collinsworth of Bradford Commercial Real Estate Services, and Jared Laake, vice president, represented the landlord in the direct deal.

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Alexan Summit

Multifamily

A division of Marcus & Millichap, Institutional Property Advisors (IPA) sold a 372-unit multifamily property in Fort Worth. IPA’s Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Jeffrey Kindorf, and Will Balthrope represented the seller and procured the buyers, Busboom Group and Archwood Real Estate.

“Alexan Summit is a fully stabilized Class A asset located in the heart of Intown Fort Worth,” said Drew Kile, IPA senior managing director of investments. “Prominently positioned between the West 7th District and the Near Southside Medical District, there are over 90,000 working professionals in the immediate area, providing a well-qualified tenant base.”

The Alexan Summit community offers amenities such as a six-floor parking garage, coworking space, views of Trinity Park, and the Trinity River. Units leased here have an average size of 866 square feet, and feature 10-foot plus ceilings, open-concept kitchens, and stained concrete or plank flooring. The apartments are within walking distance of some of Fort Worth’s best dining and entertainment experiences.

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Magnolia on the Green

Colliers Texas Multi-Housing Advisors announced the sale of a newly constructed 326-unit property in Allen: Magnolia on the Green. The property was developed by Provident Realty Advisors as part of their multi-phase, mixed-use development, Stacy Green. After finishing the project in 2020, the property took less than a year to be fully leased. Jorg Mast, Chris Paul, and Danny Miller of Colliers represented the seller during the transaction.

“The project’s very strong performance is a great testament to its quality and positioning in the marketplace,” said Mast.

JaRyCo and Wood Partners have broken ground on a new, 135-acre residential community, Alta at the Farm located in Dallas. The mixed-use development is located within The Farm which, when completed, will feature a mix of office, retail, entertainment, and residential facilities. With construction for Alta at the Farm currently underway, leasing is expected to begin in early 2023. The mid-rise design will include 325 apartment homes consisting of a mix of studio, one, and two-bedroom floor plans.

Residential

Meritage Homes of Texas and Green Brick Partners finalized their sale with Walton and confirmed the land transaction of 118 acres in Fort Worth, Texas. This sale is the final residential phase concluding the larger 490-lot Chisholm Trail Ranch master plan with expectations to begin selling homes in the fall of 2023.

“We continue to see robust homebuyer interest in the Greater Dallas Forth Worth market, and specifically in Fort Worth,” said Walton executive vice president David Peter. “We value our national relationship with Meritage, one of the top homebuilders in the U.S., and are pleased to be bringing additional single-family homes to the marketplace with them.”

Homebuyers will enjoy both residential and commercial components including an expansive hike-and-bike trail system that will link existing parks and school sites throughout the area, and the City of Fort Worth’s 75-acre Chisholm Trail Park anchored by the Chisholm Trail Community Center.

Retail

North Texas Acquisitions Group acquired 1,286 square feet of property at 1063 Foch Street, Fort Worth. Reilly Clark and Tracy Gray with Holt Lunsford Commercial represented the tenant. 

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