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A development group — US Freedom Capital and OnPointe Health Development — started construction Wednesday on a new senior living community in Midtown Park in North Dallas.
The 77,132-square-foot, three-story campus will sit at 8160 Meadow Road near Manderville Lane is in proximity to Texas Health Presbyterian Dallas hospital.
In all, the project, called Adora Midtown Park, will bring 109 skilled nursing and assisted living suites to this part of the city upon completion.
A Connecticut-based financial firm has relocated its headquarters to Dallas’ Uptown neighborhood with plans to bring real estate investment to the apartment, office, retail and specialty properties in the region.
Revere Capital LLC has leased space on the 21st floor of 2000 McKinney Ave., an office tower near the new McKinney and Olive development.
The firm, which has 17 employees, originates and buys senior mortgages, second mortgages, mezzanine and debtor-in-possession loans throughout the United States.
This year, founder and principal Clark Briner said he expects Revere Capital to land business in the office, apartment and retail sectors in North Texas.
It didn’t take CEO Mike Karns long to decide he wanted to acquire Advancial Tower — a 17-story high-rise office tower at 1845 Woodall Rodgers Freeway in Dallas — and move his Dallas-based Firebird Restaurant Group LLC headquarters to the building.
After all, it’s a terrific location and the building has ground-floor space that was originally used for restaurant concepts in its heyday.
“We viewed this as a great opportunity to put some Firebird concepts in there and be closer to the El Fenix and Meso Maya brands,” Karns told the Dallas Business Journal in a recent interview.
“We like where this sits in the city and it frees up our other location on Akard for redevelopment and that’s available to put into play immediately,” he added.
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Texas Health Resources plans to construct a $37 million, 80-bed treatment center for drug and alcohol addiction in Mansfield — the first facility of its type for the health system.
Health system leaders will break ground at 9 a.m. Wednesday on Texas Health Residential Treatment Center at 240 North Miller Road in Mansfield.
The facility is slated to open in May 2017. It’s the first stand-alone, long-term addiction treatment center for Arlington-based Texas Health.
Dallas-based data center provider Stream Data Centers has snapped up 16 acres of land to develop a new data center development within Legacy Business Park in Plano. The developer plans to build a 210,000-square-foot data center that will have the ability to withstand sustained 185-mph winds. Stream is seeking LEED Silver certification for the project. This continues Stream Data Centers’ expansion in the Lone Star state, and adds to the company’s portfolio, said Rob Kennedy, co-managing director of Stream Data Centers.”This facility will provide enterprise users with an attractive wholesale option in one of the area’s fastest growing markets,” he said in a statement.
Dallas-Fort Worth is the No. 2 data center market in the country based on the megawatt absorption in 2015, according to JLL’s latest Data Center Perspective. JLL’s Bo Bond told me he expects to see a lot of data center development this year. Get more of Bond’s insight in tomorrow’s issue of the Dallas Business Journal. This new Legacy Business Park data center will be Stream’s second in the immediate vicinity and fourth development in North Texas in the past four years.
Stream Data Centers plans to begin construction on the site in the second quarter of 2016, with occupancy slated for early 2017.
DALLAS–Venture Commercial Real Estate’s investment sales team has completed the sale of a 7,400-square-foot single-tenant net-leased property located along the State Highway 121 corridor in The Colony.
“We are pleased to have found the right buyer who will benefit from the explosive development along State Highway 121 in The Colony,” senior vice president Don Miller told GlobeSt.com. “With the recent announcement of JP Morgan Chase’s 800,000-square-foot campus at the Tollway and 121, the influx of corporations, retailers, restaurants and entertainment venues continues to establish this corridor as a premier destination in DFW.”
Methodist Urgent Care occupies the building located at 5151 SH 121, in front of Top Golf and across from Nebraska Furniture Mart’s Grandscape development.
John Zikos, Jonathan Cooper, Christopher M. Gibbons and Don Miller of Venture’s investment sales team represented the developer, NDC Holdings. Leonard Mazzone of New York-based Hamilton Mundy Real Estate Advisorsrepresented the buyer, an out-of-state investor.