The Helm ABA, LLC renewed 3,494 square feet at 12850 Hillcrest Road in Dallas, TX. Lynna Smith represented the landlord, Hartman Income REIT.

CBRE announced the sale of Dallas Light Industrial Portfolio, comprised of nine Class B in-fill assets. The assets total 300,437 sq. ft. of industrial space in Addison and Carrollton, Texas. Birtcher Anderson & Davis and Belay Investment Group purchased the portfolio as a joint venture from Kennington Commercial for an undisclosed price.

“While we are typically a long-term holder of commercial real estate, this was an ideal time to move these assets and reallocate our resources,” said Clayton Kennington, Principal with Kennington Commercial. “Finding a like-minded buyer in Birtcher Anderson & Davis, with the same values and ethics as our own, ensures our tenants are in great hands and will be treated with the same level of white-glove professionalism under this new ownership team.”

Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber with CBRE National Partners arranged the transaction on behalf of the seller.

The nine buildings are in the Northwest submarket, giving users immediate proximity to major transportation arteries including I-35, I-635, Dallas North Tollway and President George Bush Turnpike. The portfolio was 95% occupied at the time of sale and has an average remaining lease term of 1.83 years.

“As Dallas-Fort Worth has grown exponentially, in-fill locations like Addison and Carrollton continue to be one of the most in-demand areas for both industrial owners and users,” said Eliza Bachhuber with CBRE. “The limited supply of new construction combined with the potential for rent growth attracted significant interest from investors looking to capitalize on the strong market fundamentals.”

The properties included in the sale were:

Lindbergh: A 97,840 sq. ft. building located at 4301-4321 Lindbergh Drive in Addison

McIver: A 44,522 sq. ft. building located at 2425 McKiver Lane in Carrollton
Sunbelt: A 25,566 sq. ft. building located at 4302-4324 Sunbelt Drive in Addison

Whitlock 1: Two buildings totaling 49,650 sq. ft. at 1415-1425 Whitlock Lane in Carrollton

Whitlock 2: Four buildings totaling 82,859 sq. ft. at 1325 Whitlock Lane in Carrollton

According to CBRE’s Q3 2021 Industrial MarketView, the Northwest submarket remained tight with 2.4 million sq. ft. of net absorption year to date and a direct vacancy rate of 3.1 percent. As of Q3, there is approximately 31.3 million sq. ft. of industrial product under construction in Dallas-Fort Worth, which is 20.4 percent preleased.

KnockOut Sports Bar Leased 5,425 SF at Luna Crossing, 3937 North Central Expressway in Plano, Texas from CH Retail Fund I/Plano Luna. Brokers were David Levinson and Paul Cooke, III plus Michelle Caplan and Maggie Hanson, Weitzman. TRC represented the Landlord.

Crescent Real Estate LLC (Crescent) extended and expanded lease space for PNC Bank at The Crescent®. PNC Bank extended terms on existing leases of 16,900 square feet while expanding space in The Crescent to a total of 55,519 square feet. PNC Bank initially leased space in The Crescent in June of 2017.

“The Crescent provided many advantages as PNC Bank’s office when we first entered the Dallas market and has helped us grow,” said Brendan McGuire, Regional President of PNC Bank. “The Crescent is a convenient location, has the necessary amenities, and attracts professional firms, especially banking and wealth management, all of which will help sustain our growth.”

PNC Bank is a member of The PNC Financial Services Group, Inc., one of the largest diversified financial services institutions in the United States. The company has provided financial expertise and services for more than 160 years.

“We strive to provide a great customer experience, and we work hard to provide the easiest way to bank and invest that helps customers achieve financial well-being,” said McGuire. PNC Bank customers have secure and convenient access to personal financial expertise, tools, and competitive products and services, according to McGuire.

Billy Gannon and Howard Watkins of Transwestern represented PNC Bank. Tony Click and Jordyn Allen of Crescent represented The Crescent.

“We welcomed PNC Bank to The Crescent in 2017, knowing they would be successful in the Dallas market. We are pleased that we can help PNC grow its footprint at The Crescent,” said Click, Vice President of Leasing for Crescent.

“Since we offer a premier asset surrounded by desired amenities in pedestrian-friendly Uptown Dallas, The Crescent has been able to attract and retain a high percentage of customers from financial, legal, and professional services,” Click said.

The Crescent’s iconic Phillip Johnson three-tower design with significant retail and inspiring outdoor green spaces provides customers a serene work environment and a connection with nature. The Crescent’s mix-use retail provides convenient, upscale amenities with casual and fine dining options, the luxury Hotel Crescent Court and Spa, and Stanley Korshak, a Dallas emporium that pampers customers with service and high-quality merchandise.

St. Louis-based Bianco Properties announced it has acquired the North Garland Crossing Shopping Center located within northeast Dallas submarket of Garland. The shopping center is strategically positioned at the highly trafficked corner of North Garland Ave and President George Bush Turnpike, which serves as the primary retail intersection in the trade area. This 75,811 square foot center is shadow-anchored by Super Target and includes national tenants Michaels, PetSmart, AT&T, and Starbucks. North Garland Crossing marks Bianco’s sixth retail acquisition over the past four years collectively valued at over $100 million.

“We are always looking for opportunities to acquire high-quality retail in the dynamic DFW market and we see North Garland Crossing as an excellent addition to our portfolio,” explained Josh Bacott, Vice President – Acquisitions at Bianco Properties. “Being ideally located within a retail hub that features Super Target, Walmart and numerous other regional anchors positions this center as a long-term destination for businesses looking to serve this growing region.”

In addition to Garland, Bianco’s Texas portfolio features properties in Arlington, Coppell, Farmers Branch, and North Dallas with over 270,000 square feet of retail. The company’s primary focus is retail and industrial investment opportunities with an objective to continue expanding its presence in key markets including Dallas-Fort Worth.