Category: North Texas Deals & Announcements

Flix Brewhouse joins Mansfield’s Shops at Broad as newest tenant

Posted on by Mia Goulart

Flix Brewhouse, the world’s first-run cinema brewery, just announced the opening of its newest location at The Shops at Broad, one of Tarrant County’s newest major shopping destinations. Originally slated to open in 2020, Flix Brewhouse overcame significant COVID-19-related delays to fulfill its commitment to locating in Mansfield, Texas. The Shops at Broad marks the nine-screen luxury theater’s 10th location across six states and its fifth location in Texas. The theatre is scheduled to open in Fall 2023.

The Mansfield location features a new prototype theater, where all nine auditoriums are equipped with parabolic screens, custom recliner seating, and proprietary “Easy Glider 2” sliding and pivoting tabletops. Moviegoers will be able to enjoy in-theater service featuring a complete cooked-to-order menu, as well as a broad selection of soft drinks and adult beverages. Flix Brewhouse’s 12 signature craft beers are brewed on the premises. Guests can enjoy the brewpub experience with or without a movie.

Flix Brewhouse signed a 15-year lease with The Shops at Broad for a nearly 40,000-square-foot facility. The retail center is located at the corner of U.S. Highway 287 and Broad Street, sitting across from where grocer H-E-B is planning its first store in Tarrant County.

As co-asset managers of the property, Sam Kartalis with Younger Partners, and John R. Weber with Weber & Company successfully negotiated the leases for The Shops at Broad, and have been instrumental in securing new tenants for the center.

New industrial leasing activity remains robust in Q2 2023

Posted on by Mia Goulart

New industrial leasing activity remained robust in Q2 2023, totaling 11.5 million square feet, according to recent statistics from Cushman & Wakefield.

“Demand for industrial real estate in Dallas remains strong despite the slowing economy, as evidenced by the recent big deals by Southwire and Dollar General,” said David Eseke, executive managing director and industrial tenant advisory and leasing leader for the Dallas office. “The manufacturing, aerospace and defense as well as food/beverage industries continue to be some of the most active tenant segments in the market. With the continued population growth in the DFW market, we expect absorption to continue at 2019 levels or above.”

Net absorption totaled 3.5 million square feet for the quarter with notable move-ins including Hayes Company (904,495 square feet), Kenco (489,310 square feet) and LL Flooring (457,363 square feet) (Note: Cushman & Wakefield defines absorption as when the tenant takes occupancy.)

“On the supply side, the under-construction number continues to fall as projects deliver. Most of the new product is of the bulk variety and is focused mostly in South Dallas, East Dallas and Alliance. New starts in these submarkets are unlikely but there are several smaller infill developments in core submarkets that will be kicked off later this year,” Eseke added.

The market currently has 70.0 million square feet of industrial space under construction. Development activity is focused on South Dallas (13.4 million square feet), Alliance (12.5 million square feet) and East Dallas (million square feet). During Q2 2023, 13.3 million square feet of industrial space was delivered.

The overall vacancy rate in DFW totaled 6.8% in Q2. Notable leases include Southwire, (1.07 million square feet), Dollar General (1.0 million square feet) and Kimberly Clark (874,214 square feet).

Woodmont breaks ground on retail center in Fort Worth

Posted on by Mia Goulart

The Woodmont Company is thrilled to announce the beginning of construction for Berkshire Corner at 9937 Blue Mound Road, a highly anticipated 12,002 square-foot shopping center in Fort Worth. Held on June 22nd, the ground breaking ceremony marked a significant milestone for the development and showcased the exciting future ahead for the community.

Berkshire Corner is poised to become a vibrant hub of commerce, featuring establishments such as Jersey Mike’s Subs, Blue Mound Nail Spa, Blue Mound Liquor, Mynt Barbershop, and ProSmiles Dental; leases negotiated by Woodmont agents Jake McCoy and Jack Mock. The successful groundbreaking ceremony signifies the start of construction for Berkshire Corner, as it progresses to deliver a comprehensive selection of amenities and experiences to meet the evolving needs of the north Fort Worth community that will also service areas of Haslet and Saginaw, Texas.

The groundbreaking ceremony took place at the future site of Berkshire Corner, located at 9937 Blue Mound Road, and gathered esteemed guests, community leaders, valued partners and future tenants. The event celebrated the positive impact this development will have on the local economy and community, as well as the diverse range of services it will offer.

$255 million credit facility arranged for single-family rental portfolio located across Texas

Posted on by Mia Goulart

JLL Capital Markets has arranged a $255 million credit facility for single-family rental homes located across Texas. Upon close, the facility refinanced an initial portfolio of homes in Houston, Dallas-Fort Worth, San Antonio and Bryan/College Station.

JLL worked on behalf of the borrower, Camillo Properties Ltd. doing business as SimplyHome, to secure the bridge facility through Churchill Real Estate, a vertically integrated real estate investment firm with $6 billion outstanding across more than 60 facilities in its lender finance business as of Q2 2023. SimplyHome is one of the largest private owners of purpose-built SFR in the country, and since inception, SimplyHome has scaled its holdings into 10,000 SFR homes across 100 different neighborhoods.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Colby Mueck, Managing Director Matthew Putterman, Director Laura Brown and Analyst Davis Burnett.

SPI adds Uptown Dallas property to portfolio

Posted on by Mia Goulart

SPI Advisory (SPI) and its 1031 partners finalized the acquisition of Ivy Urban Living (The Ivy), a 228-unit, Class B+ institutional-quality apartment community built in 1988 in the Dallas neighborhood of Uptown, just two miles north of downtown and one mile southeast of Knox-Henderson. 

Ivy Urban Living represents SPI’s 15th current property under management in the metropolitan area, totaling nearly 3,400 units. This transaction serves as the firm’s 44th acquisition in the DFW metroplex since its inception in 2014.

Bordered by three of the most highly-trafficked city thoroughfares, Haskell Avenue, Lemmon Avenue, and Peak Street, Ivy Urban Living offers its residents the unique advantage of spacious floorplans situated in close proximity to Dallas’ leading economic centers and flourishing entertainment districts at an attractive price point compared to other properties in the area. 

Trez Capital funds $17 million for new master-planned community in Dorchester

Posted on by Mia Goulart

The Dallas-based office of Trez Capital announced the closing of a $17 million loan for the financing of phase one to develop 360 lots of Centurion American’s new master-planned community, Cottonwood. Close to the Texas-Oklahoma border, the 100-plus acre community located in Dorchester, just north of Gunter and Celina, will be near Texas Instruments’ new manufacturing plant, a business park being created by Texas Instruments, Finisar and other large corporations.

Cottonwood will offer over 2,000 lots that will serve a diverse range of community options and amenities including multifamily residences, commercial use, build-to-rent options, multiple school sites and nature trails throughout. The community sits 55 miles from Downtown Dallas and is in proximity to large corporation headquarters, providing amenity-rich, nearby housing for workers with families.

The phase one lots are expected to be completed in 2025.