This Week’s Dallas-Fort Worth Deal Sheet (July 7, 2020)

Medical leasing activity related to the rapid spread of the coronavirus is beginning to emerge in North Texas.

Courtesy of Bradford Commercial Real Estate Services

Creekwalk Village mixed-use development in Plano, Texas.

A coronavirus diagnostic lab and research facility announced plans this week to move into a prominent Plano mixed-use development known as The Creekwalk Village.

Located at 609 West 15th St. in Plano near the old Collin Creek Mall, the site is slated to become home to Renaissance Pathology’s Aperture Next-Gen Laboratory Enterprises. 

Aperture Next-Gen Laboratory will perform COVID-19 testing and engage in virus research. The company plans to process physician diagnostic specimens on-site and conduct research on coronavirus mutations and next-generation sequencing for the illness. The second floor has five private offices, a conference room, a kitchen and what was once a medical spa.

The landlord, Suriya Legacy LP, hired Bradford Commercial Real Estate Services‘ Leigh Richter and Paul Richter to handle negotiations on its behalf, while Wingert Real Estate’s Janet Scholl represented the tenant.

The 20K SF development is anchored by a Mattress Firm and sits a few blocks away from U.S. Highway 75.

Courtesy of KAI

KAI names Aleksandar Milenkov director of mechanical engineering.

EXECS

KAI Enterprises has named Aleksandar Milenkov director of mechanical engineering for the Dallas-Fort Worth office. Milenkov will oversee quality control for both the mechanical and plumbing divisions while handling recruiting and hiring. 

He brings 16 years of experience to the position, having previously served as a senior mechanical engineer at BW Design Group.

Courtesy of Dalfen Industrial

The Eastpoint Distribution Center in Mesquite is among five DFW industrial properties acquired by Dalfen Industrial in partnership with Goldman Sachs.

ACQUISITIONS

Dalfen Industrial and Goldman Sachs Merchant Banking Division partnered to purchase a 46-property, last-mile-focused industrial portfolio with facilities in 14 U.S. markets, including five properties in Dallas-Fort Worth. 

The acquisitions were made through the recapitalization of various Dalfen ventures, the company told Bisnow. The portfolio as a whole boasts a 94% occupancy rate and an average property size of 126K SF. Major tenants include Amazon, Frito Lay, Brinks, Central Garden & Pet, Pods and Sherwin Williams. 

The DFW properties acquired include McKinney Business Center I, McKinney Business Center II, the McKinney Fulfillment Center, Skyway Business Center in Irving and the Eastpoint Distribution Center in Mesquite. 

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Black Knight Inc. announced plans to acquire Plano-based secondary mortgage market data provider Optimal Blue from affiliates of GTCR LLC. 

The deal is valued around $1.8B and is still subject to customary approvals. Once the deal is finalized, Black Knight intends to join its Compass Analytics business with Optimal Blue’s operations, creating a new entity that is owned in part by co-investors Cannae Holdings Inc. and Thomas H. Lee Partners LP. Black Knight will own about 60% of the new entity. 

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Mohr Capital sold an 18K SF single-tenant industrial building at 4901 Carey St. in Fort Worth. A California private investor acquired the property in a 1031 exchange transaction with Stan Johnson Co.’s Zach Harris and Brad Pepin representing Mohr Capital during the negotiations.

LEASES

Arts and crafts retailer Michaels signed a lease with Accesso for 124K SF of office space inside Royal Ridge III in Irving.

Michaels will be the building’s sole tenant going forward, and will use the facility as its new corporate headquarters. The building, which is located off John Carpenter Freeway, is Michaels’ second Irving corporate headquarters since moving to the submarket 18 years ago. 

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The Custer Bridges Shopping Center off State Highway 121 in Frisco signed Kyodai Sushi & Handroll Bar as a new tenant. The upscale restaurant relied on Sperry Commercial Global Affiliates’ Cameron Mai during lease negotiations, while Standridge Companies LTD represented the landlord. 

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A 57K SF distribution facility at 2101 Hutton Drive in Carrollton is on the market for tenants searching for an industrial sublease. 

The site is within the North Stemmons Freeway/Valwood Industrial submarket. Lee & Associates’ Corbin Blount is overseeing all leasing efforts. 

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Cabot Properties signed a lease with tenant AB Moving for 21K SF at 1701 Summit Ave. in Plano. Lee & Associates’ Brett Lewis and George Tanghongs represented the landlord, while Concept Commercial Realty’s Jimmy Pham represented the tenant. 

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Landlord Jupiter Star LLC has signed Telmar Network Technology as a tenant, occupying 92K SF at 901 Jupiter Road in Plano. 

DFW Lee & Associates’ George Tanghongs and Brett Lewis represented the landlord, Jupiter Star. The tenant was represented by CBRE’s Nathan Lawrence.

Courtesy of Fairmont Dallas Hotel

The renovated bar area inside the luxury Fairmont Dallas Hotel.

THIS OR THAT

The historic Fairmont Dallas Hotel is reopening on July 31 after completing a series of extensive renovations.

The modernized hotel interior now offers updated food and beverage venues and revitalized common areas. The Downtown Dallas hotel hopes to attract locals who are desperate to break away from home to enjoy staycations at nearby luxury hotels.