Category: News

Dallas investment fund plans to renovate newly purchased Irving office building

Posted on by Mia Goulart

An Irving office building leased by Stream Realty Partners since 2010 has been sold to a Dallas-based real estate private equity fund.

Reserve Capital Partners, in partnership with Trinity Investors, purchased Crestview Tower at 105 Decker Court from Austin-based CapRidge Partners. The new owner has hired Dallas architectural firm Entos Design to completely reimagine the building’s entry, lobby, fitness center, tenant lounge, and outdoor patio. Reserve Capital’s construction team will oversee the multi-million-dollar renovation featuring design elements such as wood-slatted accent walls and ceilings, modern pendant lighting, and stylized directional wall graphics. Furniture, artwork, carpets, and wallpapers will boast warm, earth-tone colors. The project is expected to take approximately four months once plans are finalized. Financing for the project was provided by Southside Bank Senior Vice President for Commercial Real Estate Jonathan Ferrell.

Reserve Capital will retain Stream, a national commercial real estate firm offering an integrated platform of services, to lease the 12-story building in the booming Las Colinas submarket. Executive Vice President and Partner Tim Terrell and Managing Director Rhett Miller of Stream Dallas serve as the leasing agents.

Crestview Tower was designed to house the headquarters of firms seeking inspiring workspaces. Building amenities include a conference center, on-site property management, 24-hour security, keycard access, fiber internet, and day porters.

Tenants appreciate being within walking distance from 50,000 square feet of retail shops and local and chain restaurants. High-end residential units and hotels also are nearby. The property sits right off State Highway 114 and offers commuters easy access to SH 183 and 161 as well as interstates 35E and 635. Three major transportation hubs–Dallas Fort Worth International Airport, Dallas Love Field Airport, and Addison Airport–are 10 minutes, 15 minutes, and 23 minutes away, respectively.

Crestview Tower is currently 78% leased. The office building has several speculative suites available with high-end finishes and access to full amenities. Rentable office spaces range from 943 square feet to 8,447 square feet. 

Silver Star Properties announces new leasing activity in Dallas

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. has recently announced two leasing transactions in Dallas, Texas:

  1. Cook Financial Services renewed 2,004 square feet at 12655 North Central Expressway. In the transaction, Michael Bowles with Avison Young represented the tenant and Alex Houston represented the landlord, Silver Star Properties REIT, Inc. 
  2. Pediatrix renewed 3,882 square feet at 12655 North Central Expressway. In the transaction, Pediatrix represented itself and Allison Fannin and Caleb Ninemire represented the landlord, Silver Star Properties REIT, Inc. 

Extra Space purchases self-storage facility in Dallas

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Greenville Self Storage, a 741-unit, climate-controlled self-storage facility in Dallas, Texas.

JLL marketed the property on behalf of the seller, Wentworth Property Company, LLC. Extra Space Storage purchased the asset.

Completed in 2019, Greenville Self Storage totals over 83,000 square feet, which includes 2,100 square feet of retail space. The four-story, Class A facility offers drive-up units, security and personalized access. CubeSmart was previously managing the property, which is currently over 90% occupied.

The property is located at 7557 Greenville Ave. next to Royal Oaks Country Club at the intersection of Walnut Hill Lane and Greenville Avenue in North Central Dallas. The site provides convenient access to Central Expressway and LBJ Freeway, two of the city’s primary thoroughfares, and is visible to more than 30,000 vehicles per day. The area surrounding the property is home to more than 173,000 residents within a three-mile radius, which provides a stable long-term demand base.

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

Arlington-based Dodson Commercial Real Estate rebrands to ‘Street Realty’ and relocates HQ to Fort Worth

Posted on by Mia Goulart

Dodson Commercial Real Estate, a 39-year-old commercial real estate development firm based in Arlington, Texas, has rebranded to ‘Street Realty’ and will soon relocate its headquarters to Fort Worth, as part of its planned brand evolution in line with the vision of its new executive team led by Ryan Dodson and Alex Bryant. The ‘new’ Street Realty offices, along with Street’s 15+ employees, will be located in a newly acquired building at 3909 Hulen Street in Fort Worth.

With a focus on quality, organic growth, and conservative underwriting, the new Street Realty is well-positioned to take advantage of Tarrant County’s tremendous growth, so its rationale for rebranding to Street Realty and relocating to Fort Worth, where it plans to further expand its forward-thinking real estate services.

Street has multiple projects currently in-the-works throughout the region, including:

According to Ryan Dodson, whose father, Jerry Dodson, originally founded the firm in 1984, the rebranding effort was driven by the company’s growth, wide variety of projects, and continued expansion of services.

The company originally started as an Arlington-based property manager and developer. Once Ryan joined the company in 2002, it expanded services and established a decades-long track record of successful residential and commercial projects, including notable redevelopment projects in Downtown Arlington such as 404 Border, Block 300, and Urban Union. In the more recent years, the company has become active throughout Fort Worth, including projects in South Main Village, Magnolia Village, The Foundry District, and Clearfork. Dodson’s projects include notable customers such as The Bearded Lady, Nickel City, Salsa Limon, Fort Worth ENT, Fort Worth Locals, Panther City Salon, and more.

Alex Bryant joined the company in 2020 and brought with him years of commercial brokerage experience, where, under the Dodson CRE umbrella, he successfully launched a third-party services team. Bryant’s development experience includes the 2022 completion of the notable Texas Wesleyan student housing project, The Rosedale, which garnered community-wide praise and filled a much-needed demand for modern on-campus student housing at the University.

After joining forces in 2020, Dodson and Bryant ramped up their focus on urban projects with the development of The 701, a 68,000-square-foot mixed-use project in Magnolia Village, w

Midway signs Suderman & Young Towing Company as latest office tenant at East River

Posted on by Mia Goulart

Houston-based Midway, the privately owned, fully integrated real estate investment and development firm, announced Suderman & Young Towing Company, a tug service provider, has leased approximately 6,000 square feet in East River’s Trail Head 1 (Building F) office building, adjacent to the project’s bayou-side greenspace with views of Downtown Houston.

Founded in the late nineteenth century in Galveston, Texas, Suderman & Young Towing Company has provided professional towing and ship assist services to all types of vessels in Texas Gulf ports for over a century. Headquartered in Houston, the company’s tug fleet is strategically located in the ports of Houston, Galveston, Texas City, Freeport and Corpus Christi. Its full range of tug services include ship docking, undocking and harbor assistance; vessel escort; rig and special projects; and LNG terminal vessel assistance. Suderman & Young’s diverse tug fleet, which includes Z-Tech tractor tugs, can handle any vessel size.  All tugs are ISM and AWO RCP certified.

Construction Update
As leasing momentum continues, Midway has completed building construction on three retail/office components East River’s first phase. Two office buildings (Building F and Building C), which both feature retail space on the ground floor, are now complete, as is the retail component of The Laura multifamily community. Tenants are beginning to build out their spaces, with the majority slated for completion prior to the mixed-use development’s Fall 2023 opening.

In total, Phase 1 of East River will offer 300,000 square feet of leasable office space designed to fit a wide variety of business needs; three 10,000-square-foot independent office structures dubbed The Studios at East River, which are currently under construction and geared towards businesses looking to own their own space; The Laura, a five-story, modern-industrial multifamily community of 360 apartment homes; and an additional 100,000 square feet of retail at the ground floor of the office buildings, district garage, and bayou restaurant pavilions that will fuse commerce and culture with restaurant, hospitality, retail, medical, and entertainment forming spaces.

Confirmed Tenants and Leasing Information
Retail tenants confirmed for Phase 1 include Broham Fine Soul Food & Groceries, Lick Honest Ice Creams, El Condor Coffee Roasters, Tomi Jewelry, URBN Dental, and a new event venue and rooftop bar from the owners of The Astorian. Suderman & Young joins confirmed office tenants Impact Networking, Houston Maritime Center, Method Architecture and TEAL. OJB Landscape Architecture has pre-purchased one of The Studios at East River independent office structures.

Office and retail space is still available for lease at East River, though inventory is limited and going quickly. Only one full floor of office space remains in Building C, with small and full floors available in Building F. As momentum continues for retail leasing, Midway is proud to offer discounted retail space to Fifth Ward-owned businesses.

Brandi McDonald Sikes and Sobi Qazi with SVN | J. Beard Real Estate, Greater Houston are the exclusive leasing agents for the remaining office space in Phase 1, and retail leasing is handled in-house by Lacee Jacobs and Laura Harness from Midway’s Strategic Leasing and Advisory team. Suderman & Young was represented by Griff Bandy, Partners Real Estate.

Stream Realty Partners wins two leasing assignments for Unilev properties

Posted on by Mia Goulart

Stream Realty Partners’ office leasing team recently was awarded two new leasing assignments for Houston-area office buildings.

Stream, a national commercial real estate firm offering an integrated platform of services, will handle leasing and marketing for 3555 Timmons and 4550 Post Oak Place. Senior Vice President Brad Fricks and Vice President Matt Asvestas will serve as leasing agents at 3555 Timmons. Vice President Matthew Seliger and Senior Associate Danielle Rothchild will be responsible for leasing efforts at 4550 Post Oak Place.

Both 3555 Timmons and 4550 Post Oak Place are owned by Unilev, a seasoned real estate investment and management organization with a strong presence in the Houston market.

3555 Timmons is a 14-floor, Class A building in the Greenway submarket. The building is easily accessible to U.S. 59, Westpark Tollway, and Interstate 610, and is close to the residential areas of River Oaks and West University Place. Ownership has recently invested more than $3.2 million in capital improvements, including a complete lobby and conference room/training center renovation.

3555 Timmons is surrounded by a wide variety of restaurants, upscale hotels, and renowned retail. Availabilities at the building range from 1,500 square feet to 18,141 square feet.

4550 Post Oak Place is a three-story boutique office building in the Galleria submarket. The premier location offers immediate access to major thoroughfares including Interstate 610, San Felipe Street, and Post Oak Boulevard. The building features an on-site deli, covered parking, and controlled access. A myriad of popular restaurants, retail shopping, and hotels are minutes away. Availabilities at 4550 Post Oak Place range from 505 square feet to 7,653 square feet.

“Thanks to dedicated and stable ownership, 3555 Timmons and 4550 Post Oak Place are well-positioned to welcome new tenants and provide them with a top-of-the-line occupier experience,” said Fricks.

Fricks, a tenured broker with more than 31 years of office leasing experience, was recently named the Houston Office Leasing Brokers Association (HOLBA) 2022 Landlord Broker of the Year. He was recognized for his production at over nine million square feet throughout the course of his career, as well as his industry involvement and numerous accolades. With this newly awarded assignment, Fricks now serves as the leasing agent for three Unilev-owned properties: 3555 Timmons, One Riverway, and Three Riverway.

  • 3555 Timmons
  • 4550 Post Oak Place