JLL’s capital markets team has closed the sale of Speedway Logistics Crossing, a new, two-building, Class A+ industrial park totaling 798,246 square feet in a mission-critical location in Fort Worth, Texas. James Campbell Company LLC purchased the asset from Scannell Properties for an undisclosed sum. The state-of-the-art Speedway Logistics Crossing was completed in 2020 and includes one rear-load and one cross-dock building. The property features 36-foot clear heights, deep truck courts, six drive-in doors, 134 dock-high doors, 173 trailer parking spaces, ESFR sprinklers and low office finish. The property is 82 percent leased with over 12 years of average lease term to two tenants. Situated on 54.98 acres at 2660 and 2401 Petty Place, Speedway Logistics Crossing is approximately 1.6 miles from the Intersection of Interstate 35W and SH 114, which provides exceptional regional access. The property is in a region that is part of the Texas Triangle, an area between DFW, Houston and San Antonio that allows tenants to reach more than 25 million people in a matter of hours. Speedway Logistics Crossing is in the North Fort Worth Industrial submarket, one of the most dynamic big box submarkets in the country. The Dallas-Fort Worth industrial market has continued its record-setting growth in 2020 and continues to be one of the top performing markets in the country. JLL reports that strong fundamentals and ongoing demand for space in the DFW market will continue to push rents higher along with new speculative construction well into 2021. “Speedway Logistics Crossing is our sixth development in the Dallas-Fort Worth area, totaling in excess of 3 million square feet of industrial and office space,” said Kris Arviso, managing director, Scannell Properties. “It’s an attractive region for warehouse and light industrial business, and we’re excited to continue building on the momentum we’ve created with our Speedway project.” The JLL capital markets investment advisory team representing the seller was led by senior managing director John Huguenard, managing director Dustin Volz, senior director Stephen Bailey, director Dom Espinosa and Analyst Zach Riebe.

CBRE announced that Pieces, Inc., the healthcare artificial intelligence and technology company, has moved and expanded their headquarters to The Offices at Williams Square in the Las Colinas business park of Irving, Texas. The company will occupy a full floor at 5201 N. O’Connor Boulevard. “Our new state-of the-art premises not only provides our employees with an environment suitable for the innovative, industry-leading work they are undertaking but also enables us to balance a flexible work-from-home policy with sufficient social distancing for those who prefer to spend time in the office,” said Fayiaz Chaudhri, president of Pieces. “This space allows us to showcase our cutting-edge technology to our customers and facilitates accelerated growth for the company while keeping our team inspired and motivated to continue delivering results for our clients serving the community at large.” Jeffrey D. Eiting, Ryan Buchanan and John Roper with CBRE in Dallas represented Pieces in the lease negotiations. Bill Brokaw and Karch Schreiner of Hillwood Urban represented the landlord, AGRE Williams Square Holdings, LLC. Corgan Architects was selected as the architect to incorporate Pieces’ company culture and brand into their new office space. Pieces, launched in 2016, spun out of Dallas’ Parkland Health & Hospital System. In just over three years, the Pieces software has enabled up to a half-day reduction in hospital length-of-stay, sustained reduction in readmissions and has been deployed at several notable health systems and communities across North America. Local clients include the North Texas Food Bank, Parkland, Children’s Health and hundreds of community-based social service organizations. The company made the decision to move its headquarters to Williams Square based on several different factors. The space provides a larger and newly designed office that is walkable to the area’s top amenities. The location is convenient for current employees, provides more opportunities for future talent recruitment and it offers prominent signage. “Pieces was able to negotiate favorable terms for its new headquarters, which coincided with a series B raise, that allowed them a platform for their office space to be a catalyst for innovation, recruiting and retention,” said Eiting, technology and media practice at CBRE in Dallas. “The design process was intentional and Corgan did a stellar job of translating Pieces’ brand and business into the space. The office space incorporates elements ranging from always-on technology throughout the space, to quality materials and attention to detail, to high impact and functional furniture.” The iconic Towers at Williams Square is a four-building, professional office campus in the heart of Las Colinas which has long stood for quality and service. Tenants have access to amenities including a newly renovated lounge and conference center that includes a Starbucks, fitness center and locker rooms and the La Cima Club atop the Central Tower. The outdoor plaza is slated for updates including an in-demand outdoor tenant space. Williams Square is immediately accessible to the new Waters Street development as well as Toyota Music Factory.

NewQuest Properties recently facilitated one retail lease and three property sales in the larger Houston metro. Crumbl Cookies has leased 1,572 square feet of retail space in the Grand at Aliana, located at the intersection of West Grand Parkway S and West Airport Boulevard, Richmond, Texas. David K. Meyers and Josh Friedlander of NewQuest Properties represented the landlord. Greg Stanislawski and Mark Stanislawski of the Retail Strategy represented the tenant. APG Industrial LaPorte LLC has sold a 12,810-square-foot warehouse on 5.6 acres at to ESCO International Trading LLC. Dave Ramsey and Brad Elmore of NewQuest Properties represented the seller in the direct deal. Turbo Restaurant Management LLC has sold a 2,219-square-foot vacant structure on a 0.7-acre pad site at 9540 Hwy. 6, Missouri City, Texas and a 2,150-square-foot vacant building, also on a 0.7-acre pad site, at 9046 FM 1960 Bypass W., Humble, Texas to Briggs of Missouri City Properties LLC. Andrew Alvis of NewQuest Properties represented the seller. Tyson Walker of BWB Advisors represented the buyer.

Bradford Commercial Real Estate Services has pushed a four-building industrial portfolio in Farmers Branch, Texas to 100 percent occupancy, signing 24,261 square feet in two new leases and one renewal. Midpoint Auto Group has leased 13,119 square feet at 3300 Garden Brook Drive while JKMG & International Co. Inc., dba Noroo, has taken 4,472 square feet at 3314 Garden Brook Drive, filling the balance of the portfolio’s vacancy. In a long-term renewal, United Fine Arts Services LLC has held fast to 6,670 square feet in 3109 Garden Brook Drive. Brian Pafford, executive vice president and managing partner of Bradford, and Susan Singer, executive vice president, closed the triple play for the landlord, Gardenbrook Industrial LLC, shortly before the portfolio changed hands. “These three deals certainly helped in the sale process,” Pafford said, “as did our ability to add to the portfolio’s value by raising the bar on future rates for renewals and new leases.” The Bradford team was facing a six-month deadline to fill the 13,119-square-foot vacancy with another automotive group or face the loss of the permitted use. “We got the deal done in the nick of time,” Pafford said. Pafford and Singer negotiated direct deals with Midpoint Auto Group and United Fine Arts Services. Daniel Lee of Stellar Real Estate LLC represented Noroo, which is opening its first location in Texas. The portfolio also includes a single-tenant building at 3113 Garden Brook Drive and a multi-tenant structure at 4101 Lindbergh Drive. The shallow-bay warehouses are geared toward smaller tenants with spaces from 5,000 to 20,000 square feet. “There continues to be strong demand for spaces in that size range,” Pafford said.