Pediatrix Medical Services renewed 3,882 square feet at 12655 N. Central Expressway in Dallas, TX. Corey Classlock with CBRE represented the tenant and Yvette Rodriguez represented the landlord, Hartman Income REIT.
Category: North Texas Deals & Announcements
Saddle Creek Corporation Leased 861,840 SF of Industrial Space at S. Fort Worth 135 Logistics Center
Saddle Creek Corp contracted for a new Industrial Lease 861,840 at S Ft Worth 135 Logistics Center, 11900 S Freeway Service Rd, Fort Worth, TX. Tenant Representation: Newmark Gary Lindsey, Ladson Montgomery Newmark Phoenix Realty Group. Tenant Rep. CBRE – Agency Rep
SkyWalker Property Partners Sells Office Building in Arlington
SkyWalker Property Partners has parted with one of its most prized office properties, Highlands Tower, in an off-market transaction with Arlington Orthopedic Associates.
The highly visible asset is a 73,859-sf five-story office building at 701 Highlander Blvd., a class A project set on 5.24 acres at the Interstate 20-Matlock Road intersection in south Arlington. The seller of record is This Land is Highland LLC, a single-purpose entity of SkyWalker Property’s When Opportunity Knocks investment fund.
“We’re particularly proud of Highlands Tower so it was a difficult decision to sell it,” says William Welder, acquisitions associate for locally based SkyWalker Property Partners.
The seller has invested more than $2 million into renovating the 1980s-era multi-tenant office building in the past five years, taking an inside-out approach to upgrade the mechanical systems, lobby, elevator cabs, common areas and landscaping. Highlands Tower is adjacent to Baylor Scott White Orthopedic & Spine Hospital and across the street from the 825,000-sf mixed-use Arlington Highlands. Also close by are the 1.5-msf Parks Mall, USMD Hospital at Arlington and Texas Rehabilitation Hospital of Arlington
“We thought a medical group would be a great potential buyer, given the dense concentration of shopping, dining and neighboring hospitals,” says Gary Walker, founder and president of SkyWalker Property Partners.
AOA’s current location is less than two miles from Highlands Tower, offering overflow and expansion space for support and medical services. The multi-tenant project is nearly 66% leased to leading tenants like PNC Bank (formerly BBVA Compass), Keller Williams and an affiliate, H3 Texas LLC.
“Highlands Tower will remain multi-tenant for the foreseeable future while the buyer develops a long-term occupancy strategy,” Welder says.
Keller Williams signed a new long-term lease for 12,518 sf a few months before SkyWalker approached AOA about purchasing the building. Tenant improvements were completed in September to the real estate firm’s fourth-floor office.
Holt Lunsford Commercial Investments Sells Five-Property Portfolio to TA Realty
Holt Lunsford Commercial Investments, a market-leading commercial real estate investment and development firm in Dallas, announces the sale of a five-project portfolio to TA Realty, a real estate investment firm out of Boston. The sale includes nearly 700,000 square feet of shallow bay industrial development in major distribution submarkets across North Texas, including Lewisville, Carrollton, McKinney, and Richardson. Each of the assets, previously owned and developed by HLCI, broke ground in late 2020 and were delivered between May-August 2021.
“Infill industrial development has been a key part of our strategy over the last 12 months,” said Todd Marchesani, vice president of development for HLCI. “The industrial market is a top performing sector and we have seen growing demand for infill locations due to proximity to population density.”
The portfolio sale is a product of HLCI’s Fund I, a discretionary fund it has nurtured over the past three years that’s acquired 1.1 million square feet and developed 2.2 million square feet of shallow bay industrial. HLCI also closed on their Fund II in June 2020, a strictly industrial discretionary fund that seeks to invest in multiple markets across the sunbelt states. Fund II is already fully allocated and includes seven new developments–the first of which broke ground in October 2021.
“We have a great team at Holt Lunsford Commercial, both on the investment and service side, that continues to identify opportunities and execute with high conviction – requiring imagination and applied problem-solving,” said Hutton Lunsford, chief investment officer for HLCI. “We consider ourselves blessed to have such a loyal investor pool that continues to place bets with us. Their eagerness to deploy more capital speaks to our track record and affirms our industrial acquisition/development strategies in Texas and other markets.”
Grocery-anchored Neighborhood Center in Dallas-Fort Worth Area Trades
JLL Capital Markets announced today that it has closed the sale of Westside Market, a fully leased, 93,377-square-foot neighborhood shopping center anchored by Tom Thumb in the Dallas-Fort Worth suburb of Frisco, Texas.
JLL represented the seller. Tabani Group, Inc. acquired the asset.
Completed in 2017, Westside Market is home to a Tom Thumb grocery store along with a diverse slate of national and local service, medical, fitness and restaurant tenants, including Subway, Great Clips, Pure Barre, Today’s Vision, Aqua-Tots Swim School and Ideal Smile & Orthodontics. The Tom Thumb fuel station fronting the center provides an additional draw to the property.
Westside Market is at 5550 FM 423 in Frisco, a north Dallas suburb that has grown faster than any other large city in the country over the last decade. Currently housing 100,347 residents within a three-mile radius of the property, the area is anticipated to balloon to 122,997 by 2025. The area is so popular that the Dallas Cowboys football team chose the city for its world headquarters and practice facility, which is less than five miles from the center.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Directors Christopher Gerard and Ryan Shore.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
Osiris Capital Renewed 7,322 SF and Expanded at 1055 S Sherman in Richardson
Osiris Capital, LLC renewed 7,322 square feet and expanded 4,734 square feet at 1055 S. Sherman in Richardson, TX. Lynna Smith represented the landlord, Hartman Income REIT.