Transwestern Real Estate Services (TRS) announces SHM Architects, PLLC, a Dallas-based design firm, has signed a new, long-term 12,218-square-foot lease in the historic Meadows Building at Energy Square, a 170,000-square-foot office building located at 5646 Milton St. The firm moves to the top floor of the building, relocating from the Knox District. Transwestern’s Michael Griffin and Ethan Minter represented the tenant in lease negotiations.

SHM Architects, PLLC is a boutique design studio founded in 2005 in Dallas by David Stocker, Mark Hoesterey and Enrique Montenegro. In 2019, SHM launched its first satellite studio in Crested Butte, Colorado, reflecting a sustained commitment to servicing clients across the Mountain West region.

With more than 1.1 million rentable square feet spread out over five buildings, including the Meadows Building, Energy Square recently underwent a renovation that includes a state-of-the-art 10,000-square-foot fitness center, conference center, tenant lounges, revamped delis, campus park and outdoor deck. Completed in 1955, the Meadows Building was the first suburban office tower in Dallas and originally served as the headquarters for the General American Oil Company.

Jeff Eckert, Blake Shipley, Haley Hullett and Ayanna Jarvis with JLL represented the landlord, GlenStar and USAA Real Estate.

According to Transwestern research, pervasive flight to quality continues driving asking rent growth higher in quality Class A properties. Last quarter, full-service rents reached $43.92 per square foot, up 7.6% from last year.

JLL Capital Markets announced today that it has closed the sale of the Logistics Center at McKinney Building B, a Class-A, 301,796-square-foot industrial building in McKinney, Texas.

JLL represented the seller, a joint venture between Thor Equities Group and Morgan Stanley, in the sale to AC Industrial Properties LLC.

Logistics Center at McKinney Building B is a rear-load building featuring 32-foot clear heights, 130-foot truck court, 52 overhead doors, two drive-in doors and 190 parking spaces.

The property is situated on 16.82 acres at 350 Cypress Hill Drive with direct access to Dallas-Fort Worth and Texas’s major commercial hubs via U.S. 75, Highway 380 and State Highway 121. As a result, Logistics Center at McKinney Building B is within 20 miles of 1.46 million residents. Furthermore, the building is located five miles from McKinney National Airport.

Logistics Center at McKinney Building B benefits from its position in the Northeast Dallas Industrial submarket, which accounts for approximately 20% of the submarket’s total inventory. Vacancy within the submarket is now below the market average. Most new development is occurring in the outlying areas of the submarket, such as McKinney and Frisco. Last-mile tenants are relocating to these fast-growing suburbs following the population growth that has occurred over the past two decades.

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

Slated to open in 2024, One Rangers Way will create an exciting first opportunity to live steps away from Globe Life Field, Choctaw Stadium
and AT&T Stadium

State-of-the-art residential building will offer an upscale living experience with over 43,000 SF of amenities and services on par with the finest residential and condo buildings in the country.

Interested renters can visit www.OneRangersWay.com or email info@onerangersway.com for more information

ARLINGTON, Texas, Oct. 27, 2022 /PRNewswire/ — The Texas Rangers and The Cordish Companies gathered yesterday to celebrate the groundbreaking of One Rangers Way, a luxury residential community in the heart of the Arlington Entertainment District. The Rangers and Cordish were joined by Arlington Mayor Jim Ross, Arlington City Council, and community and business leaders from the City of Arlington and Tarrant County to recognize this exciting milestone. One Rangers Way continues the incredible momentum of new development in the Entertainment District that began with the opening of Texas Live! in 2018. The project continues the next phase of over $1 billion of new development currently under construction in the Entertainment District that includes the forthcoming Loews Arlington Hotel & Convention Center, National Medal of Honor Museum and Spark Coworking. Click to read at www.prnewswire.com.

Vanguard Real Estate Advisors, a Dallas-based real estate advisory and capital markets firm, announces the sale of an 11-acre build-to-rent (BTR) development site in Melissa, Texas. Jordan Cortez, Mason John, and Haley Birmingham of Vanguard REA represented the Purchaser, Legacy Partners, who plans to construct a luxury 133-unit build-to-rent community. Legacy Partners is a privately-owned real estate firm that develops, manages, and acquires multifamily and BTR communities in core markets throughout the United States.

The Site is ideally located in the heart of Melissa with frontage along State Highway 5, approximately three miles NE of the Highway 75 and Highway 121 intersection. Melissa is a dynamic suburban community in Collin County just 40 miles north of Dallas with excellent connectivity to greater DFW.

CBRE negotiated the sale of Belle Grove at Custer, a 202-unit value-add multifamily community at 800 Custer Road in Richardson, Texas. ClearWorth Capital purchased the asset from RealSource for an undisclosed price.

Chris Deuillet, William Hubbard and Jaxx Davis with CBRE Capital Markets’ Investment Properties in Dallas represented the seller.

Belle Grove at Custer is located within minutes of Richardson’s Telecom Corridor, which consists of over 25 million square feet of office space and more than 130,000 jobs. Prior ownership had been in place since 2005 and implemented upgrades to approximately 127 units as well as the property’s two resort-style pools, two outdoor kitchens and workout facility. The new owners will continue to make renovations to all units, which already have features including in-unit laundry connections.

The transaction was completed in part to the buyer’s familiarity with the DFW multifamily market.

The property was 94% occupied at the time of sale.

JLL Capital Markets has closed the sale of HWY 114 Distribution Center, a newly completed Class-A industrial building totaling 568,632 square feet in Roanoke, Texas.

JLL represented the seller, Provident Realty Advisors, in the sale to Cohen Asset Management.

Delivered in 2021, the cross-dock building features 119 dock doors, 36’ clear heights and 229 parking spaces. HWY 114 is 100% leased to UNIS, a third-party logistics provider based out of Buena Park, Calif. with over 12 million square feet and 45 locations across 16 major U.S. markets.

Positioned on 68.6 acres at 1230 W Highway 114, the property is strategically located two miles east of the intersection of Interstate 35 and State Highway 114 in the North Fort Worth (Alliance) Industrial submarket. The area benefits from its accessibility to major highways, including Interstates 35 and 820 and State Highways 81 and 114.

As a result, tenants can reach the 25 million residents of the Texas Triangle, the area between Dallas-Fort Worth, Austin, San Antonio and Houston, within five hours. Furthermore, HWY 114 Distribution Center is 14 minutes from Dallas-Fort Worth International Airport and 10 minutes from Fort Worth Alliance Airport.

Led by John Bunten and his team, the Provident Industrial Portfolio currently consists of twelve projects totaling 1,535 acres for speculative and build-to-suit warehouse developments across the southern United States. PRA has an interest in an additional 347 acres in South Carolina, Tennessee and Texas.

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Directors Dom Espinosa and Zach Riebe and Analyst Matthew Barge.