Category: North Texas Deals & Announcements

Stream Realty Partners helps private landowners sell 10 acres in Melissa to Green Acres Nursery

Posted on by Mia Goulart

Stream Realty Partners has assisted in selling 9.47 acres along U.S. Highway 75 in Melissa and adjacent to one of Texas’ most popular convenience store chains.

Green Acres Nursery & Supply purchased Lot 4 at Willow Grove Crossing at 1922 Central Expressway for an undisclosed amount. The garden center, based in California with seven locations, plans to open its second Texas location at the site near Buc-ee’s. Its first Texas store is in Irving.

Stream Senior Vice President Demian Salmon and Associate Chap Bernet represented the sellers, Flamingo Daze LP, in the transaction. David Sacher of SHOP Companies represented the buyer. Stream is a national commercial real estate firm offering an integrated platform of services. The firm’s land experts leverage industry-leading technology to provide market analysis, feasibility studies, strategic site selection, residual valuations, highest and best uses, mapping, and demographic research.

The nearly 10-acre Melissa property is currently zoned for commercial development and offers city water and sewer utilities. It fronts U.S. 75, which sees more than 80,000 vehicles daily. The Willow Grove mixed-use development, comprising 650 multi-family units and 270 single-family lots, is directly behind the property. The Quarry at Stoneridge, Trinity Falls, Auburndale, and Hunters Ridge are among single-family developments in the immediate area.

Financing secured for newly built distribution facility in Fort Worth

Posted on by Mia Goulart

JLL Capital Markets arranged financing for Meacham Commerce Center Building 1, a Class A industrial facility totaling 334,750 square feet in Fort Worth, Texas.

JLL worked on behalf of the borrower, McCormack Commercial, to secure the loan from Protective Life Insurance Company.

Built in 2022, the property is located north of downtown Fort Worth and is situated on 19.36 acres, allowing for 240 car parking spaces and 103 trailer parking spaces. The fully leased building has a 36-foot clear height, cross-dock loading capabilities, 60-foot staging bays, 70 dock-high doors and four drive-in ramps.

Meacham Commerce Center has access and proximity to the DFW airport and major interstates, including frontage along Interstate 35 West and near direct access to Interstate 820, two of DFWs major trade routes.

Moving forward, Meacham Commerce Center, situated on approximately 80 acres, will deliver three additional buildings adding another 977,161 square feet to the park. When complete, the three buildings will accommodate tenants ranging from 20,000 square feet to 600,000 square feet. Building configurations will be rear load and cross dock with 24- to 40-foot clear heights. Fronting I-35W will be a 69,120-square-foot rear load facility. A 582,540-square-foot cross dock is planned in the heart of the site with 325,750 square feet on its western border.  The remainder of the project will be leased by Matt Carthey and George Jennings of Holt Lunsford Commercial.

The JLL Capital Markets Debt Advisory team was led by Colby Mueck along with John Beeler and John David Johnson.

NAI Robert Lynn brokers deal at Lincoln Centre

Posted on by Mia Goulart

Bridge Tower Properties, a Dallas-based company that focuses on residential real estate, has recently moved into two Class AA office spaces in Three Lincoln Centre. Located at 5430 Lyndon B. Johnson Freeway in Dallas, the firm’s move will accommodate its significant growth. NAI Robert Lynn President Nick Lee and Executive Vice President Kent Smith represented the tenant in the transaction.

The two suites total 16,604 square feet and are nearly quadruple the size of Bridge Tower’s previous location. The iconic North Dallas Lincoln Centre has recently remodeled its common areas. The renovations, numerous tenant amenities and its ideal North Dallas location are the key factors that attracted Bridge Tower in its search for a new space.

Matthew Schendle, Clint Madison and Zach Bean of Cushman & Wakefield represented the landlord.

Sale of grocery-anchored retail center in suburban Dallas closes

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Independence Square, a 140,218-square-foot, grocery-anchored retail center located in the Dallas suburb of Plano, Texas.

JLL represented the seller. Head Capital Partners acquired the asset.

Built in 1977 and renovated in 2005, the 94% leased center is grocery-anchored by a high-performing Tom Thumb that comprises 31% of the total rentable area and has operated as the anchor for 45 years. Tom Thumb’s parent company, Albertsons, is the second-largest supermarket chain in North America, with over 2,300 stores total and 65 stores in Texas. Additional tenants include Oscar Nail Lounge, Cookies by Design, Great Clips, Little Greek Restaurant, Frost Bank, Jersey Mike’s and Workout Anytime. The property receives approximately 850,000 visits every year.

Located at 3100 Independence Parkway, Independence Square sits at a high traffic intersection within a dense neighborhood population. The property caters to over 127,000 residents within three miles with an average household income of over $130,000, which is 20% above the Dallas-Fort Worth average. The center is also adjacent to heavy daytime traffic generators, including Plano High School to the south and four surrounding elementary schools in every direction. Additionally, it is just 35 minutes from Downtown Dallas and 15 minutes from the Legacy office submarket.

The JLL Retail Capital Markets team was led by Senior Managing Directors Chris Gerard and Barry Brown, Director Erin Lazarus and Associate Ben Esterer.

National investor adds West Texas self-storage facility to its portfolio

Posted on by Mia Goulart

JLL Capital Markets has completed the sale of Atlas Self Storage, a 116-unit self-storage facility in Midland, Texas.

JLL represented the seller, Atlas Self Storage, and procured the buyer, KO Storage.

Atlas Self Storage is located at 200 Norman St. just north of Interstate 20 in Downtown Midland. The project sits near a collection of KO Storage facilities and is easily accessible from the majority of Midland’s residential population. The 18,120-square-foot facility was 95% occupied at closing.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Directors Adam Roossien, Matthew Wheeler, Steve Mellon and Brian Somoza.

Si Tapas to open Crockett Row location

Posted on by Mia Goulart

Younger Partners announced today that the firm has executed a lease with Texas tapas pioneer Ildefonso Jimenez to open a Fort Worth location of Si Tapas. The lease includes 4,275 square feet of space at 2949 Crockett Street.

Si Tapas Restaurant and Bar offers a taste of Spain in the heart of Fort Worth’s Cultural District by offering both classical and contemporary Spanish cuisine. Their house drinks and select wine list offer a unique collection of Spanish wines hand selected by region, and their food reflects the rich regional diversity of classical and modern Spain. Ildefonso will be adding “exclusive” to Fort Worth menu items such as Cochinillo.

The restaurant is expected to open in early Fall 2023.