M Financial Group signs lease at The QUAD development in Uptown Dallas

A major financial services firm headquartered in Portland, Oregon, has agreed to open its first Dallas office in Stream Realty Partners’ The QUAD, located at 2699 Howell Street.

M Financial Group, a financial services distribution company that services a network of 130-plus independent Member Firms located across the nation, recently signed a lease for approximately 52,000 square feet in the 12-story office building under construction in the heart of Uptown Dallas.

M Financial has been headquartered in Portland since its incorporation in 1978. The expansion to Dallas represents the company’s first foothold outside of the Portland area.

Stream Senior Vice President Ryan Evanich and Vice President Marissa Parkin represented Stream, the owner of The QUAD, in the transaction. Cushman & Wakefield’s Dean Collins, Mark Collins and Doug Deurwaarder represented M Financial.

Stream, a national commercial real estate firm offering an integrated platform of services, is developing the 345,425-square-foot office building and surrounding 18,500-square-foot retail area heralded as the dawning of “A Different Dallas.” The QUAD is expected to open in March 2024.

Executive Managing Director & Partner of Development Ramsey March, Director of Development Brad Dornak, Senior Director of Design & Construction Jerry Mays and Director of Design & Construction Blake Bell led Stream’s development efforts for The QUAD project.

M Financial is the third office tenant to sign a lease in The QUAD. Earlier this year, Revantage, a Blackstone Real Estate portfolio company, agreed to take 32,000 square feet. Chicago Title, the largest title insurer and provider of real-estate related products, was the first office tenant to commit to the project, agreeing to occupy 21,000 square feet. Additionally, Two Hands, a community-focused eatery based in Australian café culture, was the first retail tenant to come on board. The eatery is scheduled to open in the Q1 2024. Stream will announce the remainder of the restaurant lineup later this fall.

The QUAD will set a new standard in Dallas with an integrated “smart” building end-user interface. Pathogen-reducing technologies such as hospital-grade air filtration and outside air circulation on office floors are 50% higher than industry standards. Tenants such as M Financial will appreciate the tower’s full-service fitness studio, top-floor outdoor terrace with expansive views, a club lounge and conference center, an acre of outdoor space, a bike valet, and dedicated underground parking. The building is also steps away from popular Uptown restaurants, hotels, entertainment venues, and multifamily complexes.

Partners Real Estate arranges the sale of 13,530-square-foot industrial property in Dallas

Partners Real Estate, one of the largest independent commercial real estate firms in Texas, has arranged the sale of a 13,530-square-foot industrial property located at 2300 Penn Street in Irving, Texas.

Partners’ Hanes Chatham Jr. and Graham Dressel represented the seller in the transaction. Rad Realty Group LLC represented the buyer, Garcia Laser Screeding LLC in the transaction. Partners’ Quinn Conway provided debt for the buyer.

Fort Worth-based Street Realty unveils plans for new 12-acre, 140,000-square-foot light industrial business park in White Settlement

Street Realty, a Fort Worth-based full-service commercial real estate firm, has acquired a 12-acre site with 1,100 feet of frontage along West Loop 820 near Clifford Road in White Settlement, Texas, located in northwest Tarrant County. The site will be the future home of West Loop Business Park, a 140,000-square-foot light industrial business park composed of 14 modern buildings that offer shallow-bay flex space for a wide variety of businesses and tenants. Construction will commence in late 2023 with completion slated for Q3 2024.

Each building will offer 9,900 square feet, with standard units ranging from 975 square feet to 1,950 square feet, and include sought-after industrial features, such as grade-level overhead doors, LED lighting, storefront glass entries, flex/office space, clear span warehouses, heavy power, and more. West Loop Business Park will also offer ample parking, site lighting, prominent signage, security fencing, and a sustainable landscape design plan with drought-tolerant trees, native shrubs, grasses, and water-conservation technologies. Custom unit sizes and finish-outs up to 9,900 square feet will also be available for larger users.

West Loop Business Park will be located at 724 W. Jim Wright Freeway in White Settlement, Texas. Street Realty’s brokerage team will oversee project leasing, while its management team will oversee property management.

Project financing was provided by FirstBank Southwest in Fort Worth by loan office Scott Whitaker. Whitaker has financed multiple Street Realty projects, most recently the company’s Downtown Arlington mixed-use project, Front Street Village.

KBS & Transwestern sign 38,000 square feet with two regional firms at Class A office in Dallas

KBS, one of the largest owners and operators of premier commercial real estate buildings in the nation, and Transwestern Real Estate Services (TRS), announced that they have signed 38,501 square feet in lease agreements with two regional firms at Providence Towers, a 524,143-square-foot, LEED Gold-certified Class A office building in Dallas, Texas.

The transactions include a lease expansion with Tower Street Insurance, a Texas-based independent insurance agency—the company is expanding from 5,000 square feet to 24,399 square feet—and a new 14,102-square-foot lease with Fieldwork, a market research services company that is relocating to Providence Towers from another Dallas office building.

The leasing activity demonstrates the ongoing viability of premier office properties in key U.S. markets.

Providence Towers is located at a prestigious business address along the Tollway and has been the chosen place of business for some of the country’s most prominent companies. The 12-story property has been extensively upgraded under KBS ownership, including a complete redesign of the grand east and west tower lobbies, creating luxury entrances.

KBS is currently completing a multi-million-dollar renovation of the property that includes various indoor amenity upgrades. In 2021, the firm completed a completely reimagined tenant lounge and café and is currently underway on renovations for an upgraded fitness center, expanded conferencing facility and elevated common areas. The renovated tenant lounge includes hospitality-inspired amenities such as lounge with a fireplace, collaborative working space, pool tables, shuffleboard and a private dining room. Additional Class A amenities at the property include a wine bar and putting green.

Transwestern’s Kim Brooks, Justin Miller, Scott Walker and Laney Delin represented KBS in the lease negotiations.

Tower Street Insurance’s new lease agreement at the property essentially quintuples its space at Providence Towers.

KBS owns and operates several other Class A office properties in the Dallas market, including 3811 Turtle CreekHighland Park PlaceLegacy Town CenterPreston CommonsTollway North Office Park, and Sterling Plaza.

Providence Towers is located at 5001 Spring Valley Road in Dallas, Texas.

CBRE National Partners arrange sale of Class A+, 114,000-square-foot industrial property in Plano

CBRE National Partners announced the sale of 780 Shiloh Road, a Class A+ industrial building located in the NE Dallas submarket. A private Californian investor purchased the property from Founders Properties for an undisclosed price.

Randy BairdJonathan BryanRyan ThorntonNathan Wynne and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller. 

Ideally located in Plano’s Research/Technology district and minutes from US-75, 780 Shiloh Road has direct access to President George Bush Turnpike which connects I-35E, I-30 and the Dallas North Tollway. Built in 2001 and renovated in 2007, the property is leased to a single tenant through 2030.

CBRE arranges sale of Cooper Street Plaza in Arlington

CBRE announces the sale of Cooper Street Plaza, a 91,856-square-foot shopping center located at 4619-4623 Cooper Street in Arlington, Texas. Vista Property Company purchased the property from a Texas based real estate investment trust.

Jared Aubrey and Michael Austry represented the seller in the marketing and sale of the property.

Located along I-20 in the middle of a dominant retail corridor in Arlington, the shopping center was 97.5% occupied at the time of sale. The center garnered significant investor interest due to its high-visibility, long-term triple net leases and below market rents. The center is anchored by K&G Mens Company and Office Max and features other prominent tenants including Black Rifle Coffee Company, UPS, State Farm Insurance and Ninja Sushi.