Saturday, December 10, 2022 Dec 10, 2022
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Deal Ticker

Dave & Buster’s to Relocate Headquarters From Dallas to Coppell

Plus: CBRE brokers deal for new 500,000-square-foot plant, GREA sells six apartment communities, Weitzman inks new space for Ascension Coffee, and more.
By Taysha Billinger |
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Courtesy

JLL and Cushman & Wakefield arranged a 67,200-square-foot office lease on behalf of Dave & Buster’s. The company will move to 1221 S. Belt Line Road, just north of Interstate 635 in Las Colinas. Robbie Baty and Maureen Kelly Cooper of Cushman & Wakefield and JLL’s Cribb Altman represented Dave & Buster’s in lease negotiations. Michael Peinado and Tom Kuhlmann with Lincoln Property Co. represented the landlord, Columbia Texas Lakeshore Industrial.

“The Dave & Buster’s team is very excited to relocate to a modern office that will reenergize our corporate team and match our fun culture,” said John Mulleady, senior vice president of development for Dave & Buster’s, in a statement. “The move is long overdue, and because the new location is in move-in ready condition, we are able to expedite our move.”

The relocation comes after 30 years of operating in the Interstate 35 corridor in northwest Dallas. The new headquarters offered the shortest average commute time for the Dave & Buster’s team compared to other locations in the region, officials said.

“The Dave & Buster’s team was looking for a fresh start coming out of the pandemic,” said Baty. “Their leadership team wanted a new location where they could consolidate from multiple floors into a single floor to enhance collaboration, and this building was the needle in a haystack.”

Industrial

McKinley Packaging has broken ground on a new 500,000-square-foot corrugated box plant in Lancaster. The plant is slated for completion in November 2022 and will add 125 new jobs. Steve Berger & Ann Huntington with CBRE negotiated the land acquisition.

This is the company’s fifth U.S. packaging plant, with two additional locations in Mexico. McKinley Packaging uses paper materials made at their two U.S. paper mills to manufacture the corrugated boxes, which produce 100 percent recycled paper.

CEX Holdings signed a 58,180-square-foot lease renewal n Marsh Business Park at 2727 Realty Road in Carrollton. Brian Pafford with Bradford Commercial Real Estate Services represented the landlord, NWP TX TT in the transaction.

“Marsh Business Park’s landlord was patient and afforded CEX, a tenant since 2010, the flexibility it needed so it could make another long-term commitment,” Pafford said in a release.

AllPoints of Texas has renewed 51,200 square feet in Trinity West Business Park at 2450 114th St. in Grand Prairie. Jim Ferris and Michael W. Spain represented the landlord, William J. Owen Trust, and OMO Investment Co. Bill Biesel of Biesel Investments represented the tenant.

Multifamily

GREA has sold six North Texas multifamily properties with a total of 632 units. The assets were sold during a four-week period in January and represent $74 million in transaction volume. Mark Allen, Sean Reynolds, and Zac Thomas represented the sellers and procured the buyers.

The properties include 171 units at Pecan Tree in Dallas, 170 units at Marabella in Fort Worth, 96 units at Turtle Cove in Midlothian, 91 units at The Village on West Irving in Irving, 65 units at Lost Creek in Grand Prairie, and 29 units at Bridgewood Apartment Homes in Bridgeport.

Southern Land Co. has sold Morada Plano, a five-story, high-end, mixed-use community in historic downtown Plano. The Jacobson Co. purchased the five-story community, which includes 183 rental residences and restaurant and retail space. Institutional Property Advisors brokers Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, Jeffrey Kindorf, and Will Balthrope, represented Southern Land Co. and procured the buyer.

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Mark Cuban Cost Plus Drug Co. Courtesy DPR Construction

Office

Mark Cuban Cost Plus Drug Co. celebrated the topping out of its 22,000-square-foot pharmaceutical production facility in Deep Ellum. Leaders from the company, including Cuban, were joined by DPR Construction, Jacobs, and othe key players for a ceremony at 3015 Taylor Street near downtown Dallas.

“This new facility brings us one step closer to drastically expanding access to life-saving medication,” Cuban said. “By making them ourselves, we’re going to dramatically lower the price of extremely high-cost generic drugs. We’re adding SKUs as quickly as possible—the health equity impact is enormous. I can’t wait to make costplusdrugs.com the go-to pharmacy in the U.S.”

Newmark has negotiated a 21,000-square-foot office lease at t 300 East Davis Street in McKinney to Review Wave, an Irvine, California-based patient experience marketing platform. Nathan Durham of Newmark represented the landlord, Dan Doyon of Workplace Hospitality Management in the transaction. Robert Creamer of 7 Streams Commercial Group represented the tenant.

Educa Park leased 6,802 square feet at 651 N. Plano Road in Richardson. Fahri Olgundeney with Rogers Healy and Associates represented the tenant, and Lynna Smith represented the landlord, Hartman Income REIT.

Retail

TOCA Social, an interactive soccer venue combined with bars and dining, will open its first U.S. location at 1313 Riverfront Blvd. in the Dallas Design District. The tenant and landlord Ewing Properties Texas and are adding two levels that will take the existing 37,000-square-foot building to 56,000 square feet.

Matthew Rosenfeld and Joey Keffler with Weitzman represented Ewing Properties in the deal. David Stukalin and Max Chanon with The Retail Connection represented TOCA Social.

Ewing Properties plans to invest upwards of $250 million in the district. Last summer, the company teamed with Momentum to open a 45,000-square-foot, state-of-the-art rock-climbing facility on neighboring Glass Street. It also has plans for a 25-story, 340-unit apartment development on Howell and Riverfront.

“We have worked closely with Ewing Properties and Ed Ewing since 2018 to find the right concept to meet the vision of a landmark venue that would help take the growing Design District to new heights,” said Rosenfeld in a statement. TOCA Social, which opened its first location in London in 2021, plans to open in Dallas in 2023.

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The new Ascension Coffee will be located at 9353 Garland Road. Courtesy Weitzman

Ascension Coffee has leased 2,232 square feet at 9353 Garland Road near Buckner Boulevard. Michelle Caplan with Weitzman handled negotiations for the tenant.  Derek Ferem with Ferem Property Co. handled negotiations on behalf of the landlord.  

Author

Taysha Billinger

Taysha Billinger

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