Category: News

Dayton Street Partners acquires 65-acre high tech manufacturing and distribution campus in Richardson

Posted on by Mia Goulart

Dayton Street Partners (DSP) has acquired a 65-acre, four building, high-tech manufacturing and distribution campus in the Dallas suburb of Richardson, Texas. 

Upon close, the seller, a leading provider of IT and communications networks, signed a leaseback for 10% of the 845,000-square-foot campus while Celestica, the multinational electronics manufacturing services company, executed a lease for 672,588 square feet. The remaining 90,000 square feet is a single-story industrial facility that the seller vacated at close. DSP will immediately begin a significant renovation and repositioning the building.

In addition, the Chicago-based developer/investor plans to develop a 240,000-square-foot warehouse/distribution center on nine acres of unimproved land. Completion is expected in early 2024.

Located in the 190 Stem Corridor, the campus offers immediate access to President George Bush Turnpike Highway (Highway 190), US 75 and a highly skilled labor pool. The campus was constructed in two phases: Phase I was completed in 1990 and Phase II in 2001.

Transwestern’s Larry Serota, Mike Hardage and Nora Hogan represented the seller in the transaction.

Sason acquires first DFW office properties, plans $2.5 million renovation

Posted on by Mia Goulart

A New York and Miami-based real estate investor has acquired an Irving office complex and announced a $2.5 million renovation project to begin this year. 

Sason, a privately controlled real estate investment firm with a proven record of transforming office assets, acquired 104 and 106 Decker Court in Irving in Q4 of 2022 to mark its first Dallas-area purchase. The buildings and surrounding property have been rebranded as Cascade (I & II) and are set to receive a complete facelift beginning in Q1. The complex offers a total of 97,855 square feet.

Stream Realty Partners Vice President Chase Lopez and Associate Patrick Cruz will provide leasing services for the assets. Stream is a national real estate services, development, and investment firm headquartered in Dallas.

To encourage productivity and collaboration, an outdoor pavilion for lounging, work and events connecting the two buildings will be created as part of the broader capital program. The lobby and other common areas will be completely reimagined, and an athletic club will be introduced for tenants. Exterior improvements and refreshed landscaping are also planned.

Cascade is located off Highway 114 and North O’Connor Boulevard, with both buildings overlooking the scenic Las Colinas Country Club Golf Course. Exterior balconies on the first two floors give tenants an additional place to take calls and meet. Tenants currently enjoy underground covered parking. The area also offers an abundance of convenient locations within a one-mile radius including banks, gyms, fitness studios, and dining experiences. 

Las Colinas saw 156,816 square feet of positive absorption in Q3 of 2022.

Midway announces new office component of East River mixed-use development

Posted on by Mia Goulart

Houston-based Midway, the privately owned, fully integrated real estate investment, development, and management firm, announced a new for-sale office space component within its 150-acre East River mixed-use development. Anchoring East River’s northern boundary on Clinton Drive, the initial construction of “The Studios at East River” will consist of three 10,000-square-foot independent office structures with additional buildings planned in future expansion phases. Global award-winning landscape architecture firm OJB has pre-purchased the first of the three buildings and will be relocating its Houston practice from Pennzoil Place to East River.  Construction on the Studios is underway and is slated for completion in June 2023.

Geared towards businesses looking to own their own space, the two-story office buildings are fully customizable with minimal interior build-out, with each building including four ADA compliant restrooms, a kitchen, an elevator, and four to five dedicated surface parking spaces, with contract parking available in an adjacent multi-level garage.  

Houston-based OJB Landscape Architecture, the collective professional landscape design and urban planning practice, is leading the site and landscape design of the East River project. An OJB team of landscape architects, architects, horticulturists, scientists, planners, and continuing care experts contributed to the East River project, focusing on the connection to the water, the pedestrian realm, central green spaces, active transportation and upgraded infrastructure. Sustainability is deployed throughout the site design by controlling stormwater, using native plantings, and creating new wildflower meadows. Over 300 trees from redeveloped projects around Houston were saved and replanted as an on-site tree nursery to supply plant material through the multiple phases. Dedicated bike lanes, walkable districts with wide pedestrian streetscape and open space connectivity will link the surrounding neighborhoods to the site and to the bayou trail network.  

In total, East River’s Phase I will offer 300,000 square feet of office space designed to fit a wide variety of business needs alongside The Laura, a five-story, modern-industrial multifamily community of 360 apartment homes; and an additional 100,000 square feet of ground-level retail that will fuse commerce and culture with restaurant, hospitality, soft goods, medical, and entertainment forming spaces. Retail tenants confirmed for Phase I include Lick Honest Ice Creams, El Condor Coffee Roaster, Tomi Jewelry, URBN Dental, and a new special events venue and landmark rooftop bar from the owners of The Astorian. Office tenants include Impact Networking, Method Architecture, Houston Maritime Center, and TEAL. Construction is currently underway and is scheduled for completion in 2023.

CanTex sells shallow bay industrial portfolio in East Dallas

Posted on by Mia Goulart

JLL Capital Markets announced today that it has closed the sale of a five-property Class B shallow bay portfolio totaling 689,497 square feet in East Dallas, Texas.

JLL represented the seller, CanTex Capital, in the sale.

“We are proud to have completed this sale and outperformed investment expectations for our partners. We look forward to continuing to aggressively acquire, redevelop and reposition industrial assets throughout the Dallas/Fort Worth market,” said Romit Cheema, CEO of CanTex Capital.

The portfolio offers a mix of single- and multi-tenant warehouses ranging in suite sizes from 19,000 square feet to 184,000 square feet. Currently, the portfolio is 100% occupied by six tenants across a wide range of industries, including ADCO Industries, Hill & Smith, Inc. and ProLift Rigging Company. The buildings offer varying loading types, 18- 30-foot clear heights, up to 34 dock-high doors and ample parking.

The properties are located at:

  • 11221 Pagemill Road, Dallas
  • 11333 Pagemill Road, Dallas
  • 2917 Oakland St., Garland
  • 1515 Big Town Blvd., Mesquite
  • 3914-3920 U.S. Hwy 80, Mesquite

The properties are positioned on a total of 47.40 acres at infill locations with significant barriers to entry and immediate connectivity to Dallas-Fort Worth’s primary commercial and residential hubs, transportation arteries and major infrastructure. Additionally, shallow bay product consistently outperforms bulk industrial in the Dallas-Fort Worth metroplex, with average occupancy in the mid-to-high 90s and 6.4% average annual rent growth.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Stephen Bailey and Dustin Volz, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.

McCarthy moves Dallas HQ to new office

Posted on by Mia Goulart

McCarthy Building Companies, Inc. has moved their Dallas office to a new location at 3400 N. Central Expressway in Richardson. The new office, located in the CityLine mixed-use development, will also serve as headquarters for McCarthy’s parent company, Genuine McCarthy Enterprises and its associated subsidiaries.

McCarthy has been building in Dallas for more than 40 years and is expanding their office to accommodate rapid growth in the market. McCarthy plans to hire approximately 150 new employees in the coming year to support recently awarded contracts across Texas. The new office will also hold McCarthy’s newly formed civil business unit focused on civil construction projects supporting the transportation (roads, rail and aviation), solar, water and commercial markets.

McCarthy’s Southern Region maintains offices in Austin, Channelview, Dallas and Houston, Texas, as well as Atlanta, Georgia, serving a variety of markets including aviation, civil, healthcare, marine, mission critical, renewable energy, water, and wastewater. McCarthy’s corporate headquarters are in St. Louis, Missouri.

Lake Washington Partners acquires industrial property in Dallas

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Tradepoint 20/45, a newly-completed 418,000-square-foot industrial building in Dallas.

JLL represented the buyer, Lake Washington Partners, in the sale from Blumenfeld Development Group and Declaration Partners.

Tradepoint 20/45, which was completed in early 2022, offers 36-foot clear heights, 60-foot deep staging bays, 78 dock doors, two ramps, 124 parking spaces and 107 trailed parks.

Located at 4831 Cleveland Road Tradepoint 20/45 is positioned 13 miles from Downtown Dallas, 18 miles from Dallas Love Field Airport and 33 miles from Dallas/Fort Worth International Airport. The property has easy access to the Texas Triangle, the area between Dallas-Fort Worth, Houston and San Antonio/Austin. This allows future tenants to reach 25 million residents within a five-hour drive.

The JLL Capital Markets Investment Sales Advisory team representing the buyer was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Executive Managing Director Adam Citron, and Directors Dom Espinosa and Zach Riebe.