Institutional Property Advisors (IPA), a division of Marcus & Millichap, facilitated the sale of Vantage at Waco, a 288-unit multifamily asset in Waco, Texas. “Waco’s central location inside the Texas Triangle region places it within 200 miles of all major Texas metropolitan markets,” said Will Balthrope, IPA executive director. “The region is ranked as the fifth-strongest economy in the United States and is home to 53 of Texas’s 54 Fortune 500 companies.” Balthrope along with Tommy Lovell III, first vice president investments and Richard Robson, associate, both with Marcus & Millichap in Dallas, represented the seller, Vantage Communities. The buyer is an out-of-state private investor in a 1031 exchange represented by Mandelbaum & Associates/RealTax, repositioning specialists based in Manhattan Beach, California. “Waco’s bountiful employment opportunities include nearly 32,000 jobs within nine miles of [the] property,” said Lovell. “The city also has three colleges totaling over 30,000 students and 5,400 employees.” Vantage at Waco is within a five-minute drive of Baylor University and the Magnolia Market shopping complex. Baylor Scott & White Medical Center–Hillcrest, University High School, Central Texas Marketplace and Interstate 35, the main thoroughfare through the Texas Triangle are also nearby. Less than one mile from the community, a 32-acre development project that is expected to be the largest multilevel family entertainment center in the state is nearing completion. “A key element in executing this transaction is the ability of IPA to identify and secure private and institutional buyers,” said Balthrope. “By covering the entire state with one team that serves all major metros, we can quickly match assets with the most likely buyers, even during times of uncertainty including the global health pandemic. Vantage at Waco gives this new owner the first-generation value-add opportunity that meets their investment criteria.” Constructed in 2017 on 20 acres, the three-story, garden-style community is composed of 13 residential buildings and an office. The unit mix includes one-, two- and three-bedroom units that average 838 square feet.

Stream Realty Partners recently closed on 10 transactions in the Dallas-Fort Worth area. The deals included four renewals, five new leases and one sale. EXFO America, Inc. renewed its 8,282-square-foot lease at The Points at Waterview, 3400 Waterview Parkway, in Richardson, Texas. Matt Wieser and Ryan Evanich with Stream Realty Partners represented the landlord, 3400 Waterview LLC. Kent Smith with NAI Robert Lynn represented the tenant. Plant Interscapes, Inc. renewed its 10,068-square-foot lease at Manana I-35 Business Center, 10730-10768 N. Stemmons Freeway, in Dallas. Drew Feagin and Todd Poticny with Stream Realty Partners represented the landlord, DRA Advisors. Whitebox Real Estate represented the tenant. Arizona Tile LLC renewed its 100,398-square-foot lease at International Commerce Park, 2701 Regent Boulevard, in Irving, Texas. Blake Kendrick, Jeremy Kelly, and Sarah Ozanne with Stream Realty Partners represented the landlord, Link Industrial Properties. Newmark Knight Frank represented the tenant. Inovar Packaging Group, LLC renewed its 23,487-square-foot lease at Northgate II, 10470-10490 Miller Road in Dallas. Matt Dornak and Adam Jones with Stream Realty Partners represented the landlord, Agellan Commercial REIT. 3228 Halifax, L.P. purchased a 10,000-square-foot industrial building at 3020 Wichita Court in Fort Worth. T. Weldon Davis with Focus Service Group, Inc. represented the buyer. Jeff Rein with Stream Realty Partners represented the seller, Wireline Properties LLC. Printed Threads leased 21,000 square feet at 210 South Freeway in Fort Worth. Stream Realty Partners’ Rein, along with Forrest Cook, represented the landlord, a local Fort Worth investor. Stream’s Brett Carlton represented the tenant, Print Threads. ComSovereign leased 15,289 square feet at 5000 Quorum Drive in Dallas. Evanich, Chase Lopez and Brandon Terrell represented the landlord, G&I VIII 5000 Quorum L.P. ICB Properties represented the tenant. CKS Packaging, Inc. leased 50,560 square feet at 2829 Merrell Road in Dallas from Gillis Thomas, L.P. Ryan Boozer and Lena Pierce with Stream Realty Partners represented the tenant. Image Micro Spare Parts leased 42,415 square feet at Luna Distribution Center, 2100 Luna Road, in Carrollton, Texas. Eric Crutchfield and Mac Hall with Stream Realty Partners represented the tenant. Fulfillment by Eagle, LLC leased 18,898 square feet at Jetstar Service Center, 8181 Jetstar Drive, in Irving. Transwestern represented the landlord, Denver Third Creek, LLC. Boozer and Hall with Stream Realty Partners represented the tenant.

DALLAS, June 4, 2020 /PRNewswire/ — Mohr Partners, Inc. the world’s largest wholly-owned commercial real estate advisory firm exclusively focused on representing tenants, has hired Matt Smoot as Managing Director for the company headquartered in Dallas, TX.

Matt began his real estate career at Mohr Partners, hired as a senior associate from 2005 – 2007. Smoot commented, “I’m excited to go back to place where it all began,” as he returns to Mohr Partners over a decade later with a vast knowledge and experience of real estate and transaction services. Stephen Hemphill, Managing Principal at Mohr Partners, says, “I could not be happier to have Matt back at Mohr, we have collectively followed his career closely and his talents are a great fit to our team.” Matt has over 15 years’ experience specializing in a wide range of tenant advisory services. Prior to rejoining Mohr Partners, he served as Vice President of Real Estate with Mint Dentistry, a regional Dental Service Organization (DSO). During his tenure at Mint Dentistry, he developed the firm’s real estate department, oversaw the entire site selection process, provided brokerage services, construction and facilities management, lease administration and was instrumental in the portfolio growth of a 4-office dental chain group into a 50+ location regional leader in their industry. Preceding Matt’s role at Mint Dentistry, he was a Director for Newmark Knight Frank, where he was responsible for business development, strategic planning, market analysis and transaction services, on both the local and national level with a primary focus on office and retail users. Click to read more at www.infomey.com.