This Week’s Dallas-Fort Worth Deal Sheet (March 3, 2020)

A coveted piece of land in Uptown Dallas changed hands this month. 

Courtesy of Weitzman

2121 Maple Routh, prime land for development near Woodall Rodgers Freeway in Dallas.

Stonelake Capital Markets acquired less than an acre in Uptown Dallas from TFO Realty LLC. 

The site, which sits at 2121 Maple Routh and Woodall Rodgers Freeway, offers 23K SF for development and is currently home to a 3K SF Comerica Bank Branch. 

The property is considered of high value due to its proximity to Klyde Warren Park, The Arts District and all of Uptown and Downtown Dallas. 

Weitzman’s Matthew Rosenfeld handled negotiations. 

EXECS

JPI promoted Blake Taylor to senior vice president and regional development partner.

Taylor will oversee all capitalization, selling and development efforts for JPI’s multifamily projects in Dallas-Fort Worth. In addition, Taylor will provide guidance to JPI’s asset management and operation teams. 

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Henry S. Miller named Darrell Hurmis executive vice president of HSM Equity Partners Inc. 

Prior to securing this role, Hurmis served Henry S. Miller as executive vice president and principal of the firm’s land and investments division. Hurmis will manage equity investments for HSMEP. 

HSMEP allows high net worth individuals, private trusts and other funds and capital providers to partner with Henry S. Miller in pursuit of investment opportunities across the real estate landscape. 

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Bates Arnot joined Stream Realty Partners as senior director for industrial development services. Arnot previously worked at Stream from 2009 through 2013 and left for Hillwood Investment Properties seven years ago. 

Arnot will now work alongside the industrial development services division and is charged with sourcing and securing industrial development deals in DFW and Denver. 

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Colliers International hired Andrea Sarate to serve as senior director of Workplace Advisory within the occupier services group.  

Sarate, who is based out of Dallas, will focus on creating strategies and environments that boost employee engagement for clients in the central U.S. region. Sarate brings extensive experience as a facilities manager, and previously served Knoll Inc. as director of workplace strategy. 

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Rendering of the Baylor Scott & White Emergency Medical Center in Grand Prairie, scheduled to open in November.

Baylor Scott & White sold off its medical construction division. 

For years, a Baylor affiliate known as MEDCO functioned as the healthcare provider’s construction arm. That all changed this month when The Christman Co. acquired MEDCO in a deal that allows the buyer to grow its medical construction services practice across Texas. Christman already has a local office in Grapevine. 

All of MEDCO’s staff will be joining Christman.

SALES

A 396-unit apartment community located off Interstate 635 and Central Expressway in Dallas landed in the hands of a new buyer this month. 

Known as The Edison, WindMass Capital purchased the 36-year-old property as a value-add play and intends to upgrade the facility to improve rental rates. WindMass Capital also acquired 1,260 units across the street and intends to operate both complexes as one collective apartment community. 

Matthews Real Estate Investment Services Senior Associate Dan McQuaid brokered the sale and helped find the buyer. 

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A West Coast investor paid $5.9M for a Sherman, Texas, property leased by Texoma Harley-Davidson. 

The Boulder Group brokered the 20K SF property on behalf of a Texas investor. The facility, which is located at 4000 North U.S. Highway 75, is attached to a shopping center anchored by a Target store. 

Harley-Davidson has a triple-net lease on the property with two, five-year renewal options.  

The Boulder Group’s Randy Blankstein and Jimmy Goodman represented the seller.

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Tenant Distribution Management Inc. leased 192K SF of industrial space at 4695 Clover Haven St. in Dallas from Exeter Property Group. 

The tenant relied on Newmark Knight Frank’s Art Leichner and Andrew Crites. Exeter represented itself. 

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Duvall’s School of Cosmetology signed a 12K SF lease for retail space at 201 Harwood Road in Bedford. Structure Commercial’s Jake Burns and Eric Deuillet brokered the deal. 

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Kuehne & Nagel renewed a 267K SF lease for industrial space at 1800 Waters Ridge in Lewisville, Texas. CBRE’s Steve Trese and Wilson Brown handled negotiations for the landlord, Teachers Insurance & Annuity of America. The tenant hired Savills’ Blake Anderson for representation. 

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Omnisys renewed a 13K SF lease at 16000 North Dallas Parkway in Dallas from BGP Tollway LLC. CBRE’s Shannon Brown, Tommy Nelson and Jackie Smith represented BGP Tollway, while JLL’s John McNeil and Scott Hage represented Omnisys. 

Courtesy of MDW Studio/Rosewood Property

Rendering of Heritage Creekside in Plano.

CONSTRUCTION AND DEVELOPMENT

Four Class-A office buildings are coming to the 156-acre Heritage Creekside development in Plano. 

Cawley Partners and Rosewood Property Co. announced plans to build 1M SF of office at the site, which sits near Central Expressway and President George Bush Turnpike. 

The Cawley Partners office project offers tenants and guests a central courtyard and additional dining options. 

Along with other retail outlets and restaurants, Green Brick Partners is already constructing 95 attached single-family homes and another 18 detached residences in the development.  

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The 409K SF Lakeside Square office tower in Dallas finalized $10M in renovations this month. 

The building, owned by JMC Holdings and located at LBJ Freeway and North Central Expressway, now offers tenants a redesigned lobby, a new lounge, a coffee bar and expanded conference facilities. 

The owner also renovated the building’s fitness center and upgraded its mechanical systems. 

JLL’s Trevor Franke and Gini Rounsaville are marketing the property. 

Deep Ellum

THIS OR THAT

A developer working in Deep Ellum is taking the area’s love of art to the next level. 

Westdale Real Estate Investment and Management and Miami-based creative collective Goldman Global Arts are bringing six art installations into the district. The first art projects selected by the partnering firms will be installed this month.

The six sites will host original works from Kelsey Montague, Leon Keer, Maya Hayuk, Mantra Rea, Sen2 Figueroa and Joe Iurato.