Bradford Commercial Real Estate Services has announced the completion of the following transactions during September.

NORTH TEXAS SALE

Industrial Reserve LLC has acquired 14 acres of industrial land at 947 Trinity Dr., Mansfield, from Trinity Forge Inc. Josh Meraz, marketing director of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the seller. Brant Landry of Landry Commercial Inc. represented the buyer.

NORTH TEXAS LEASES

Model My Home has renewed 9,300 sf of industrial flex space in Trinity West Business Park A, 1550 114th St., Grand Prairie. Jim Ferris, vice president of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord, William J. Owen Trust and OMO investment Co. John Brewer of Transwestern represented the tenant.

Fort Worth IT Realty has leased 2,363 sf of office space in Legend Bank Building, 6851 NE Loop 820, North Richland Hills, from Cocanougher Asset 1 Ltd. Erik Blais, first vice president of Bradford Commercial Real Estate Services, represented the landlord in the direct deal.

JLL Capital Markets announced today that it has closed the sale of an active adult portfolio consisting of two newly built, age-restricted (55+) multi-housing properties totaling 360 units located in the Dallas-Fort Worth MSA in Texas.

JLL marketed the portfolio on behalf of the seller, Kompass Kapital Management, LLC. Capitol Seniors Housing acquired the portfolio.

The portfolio consists of The Orchards at Arlington Heights in Arlington and The Orchards at Market Plaza in Plano. The Orchards at Arlington Heights is located at 131 East Bardin Rd. and totals 256,611 square feet. The property consists of 180 units and offers one- and two-bedroom floorplan options. The Orchards at Market Plaza is located at 3640 Mapleshade Rd. and totals 257,102 square feet. The property consists of 180 units with one- and two-bedroom options.

The communities offer numerous amenities available to all residents including a clubhouse, swimming pool and lounge area with community fire pit, movie theater, game room, salon, fitness center, complimentary WiFi, gift-wrapping station and activity room. Located in the Dallas-Fort Worth Metroplex, Arlington Heights and Market Plaza are minutes away from regional malls, entertainment, medical facilities, and major transportation corridors.

The JLL Capital Markets investment advisory team representing the seller included Managing Directors Cody Tremper and Mike Garbers.

According to JLL, active adult properties continue to be one of the most highly sought-after asset types in the marketplace today. Favorable demographic trends, low resident turnover, proven rent growth, all combined with a robust single-family housing market, have elevated absorption rates across the country. The JLL Seniors Housing team has been involved in the marketing in excess of $1.0 billion and has financed over $400 million in the Active Adult sector in the last 24 months alone.

Paul Allen, an individual, d/b/a Consign and More leased 2,500 square feet at 500 N. Coit Rd. in Richardson, TX. Katherine Morrison represented the landlord, Hartman Income REIT.

ZM Holding Corp renewed 2,626 square feet at 500 N. Coit Road in Richardson, TX. Katherine Morrison represented the landlord, Hartman Income REIT.

Dallas, TX (Sept. 13, 2021) — Newmark announces the sale of Fourteen555, a 249,564-square-foot, Class A office building located at 14555 North Dallas Parkway in Dallas, Texas. Completed in 2018, Fourteen555 comprises a six-story, best-in-class office building that is 100 percent leased to a roster of credit-quality tenants with 11 years of remaining lease term. Newmark Vice Chairmen Robert Hill, Chris Murphy, Gary Carr, and John Alvarado and Director Chase Tagen represented the seller. Vice Chairman David Milestone, Senior Managing Director Brett Green and Director Josh Francis represented the buyer in the sourcing of acquisition financing.

Fourteen555 offers high-end office space with large floor plates, a modern conference center and covered access to structured parking. The property also includes a three-story amenity building that includes a Parkway Café & Terrace, a fully-equipped fitness center and a rooftop lounge and event space.

“This sale reflects the incredible demand we are seeing for newer vintage assets in high-growth submarkets across the state of Texas. Given the 11 years of WALT and roster of credit-quality tenants, Fourteen555 drew interest from a wide variety of institutional capital ultimately resulting in another example of strong investment in Dallas,” said Hill.

“We are very pleased to play a role in assisting our client execute the disposition of Fourteen555, and trust that this will be a sound investment for the new ownership,” added Murphy.

Fourteen555 is surrounded by ongoing and planned mixed-use redevelopment and is within five minutes of the Galleria Dallas Mall and Addison’s Restaurant Row. Prominently located at the Dallas North Tollway just north of LBJ Freeway, the property is easily accessible from all directions and is located within 20 minutes of Dallas/Fort Worth International Airport and Dallas Love Field.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.

Press Contact: Lizzy Mahan t 303-260-4437 lizzy.mahan@ngkf.com

Behemoth Entertainment, LLC leased 2,215 square feet at 651 N. Plano Rd. in Richardson, TX. Lynna Smith represented the landlord, Hartman Income REIT.