Krueger Law Group renewed 3,580SF at 8111 LBJ Freeway in Dallas, TX for 5 years. Jessica Cyphers represented the landlord, Hartman Income REIT.
Category: North Texas Deals & Announcements
Resolut RE Inks Half a Dozen Retail Deals in Texas
RESOLUT RE recently closed six retail leases in Texas. The deals included transactions in the Austin, Houston and Dallas-Fort Worth markets. ATI Physical Therapy has leased 2,008 square feet at South Congress Station (9000 S Congress Avenue, Austin). Michael Noteboom and Joey Mendez of RESOLUT RE represented the landlord. Travis Lawrie of CBRE represented the tenant. Boost Mobile has leased 1,400 square feet at Countryside Place (1420 Wells Branch Pkwy W, Pflugerville, Texas). Michael Noteboom and Joey Mendez of RESOLUT RE represented the landlord. J & A Advanced Family Dental has expanded by 1,221 square feet at Kyle Crossing (5940 Kyle Pkwy, Kyle, Texas). Andrew Perkel and Michael Noteboom of RESOLUT RE represented the landlord. Fit Body Boot Camp has leased 2,996 square feet at Shops at Woodbridge (7900 Woodbridge Pkwy, Sachse, Texas). Brian Sladek and Chris Flesner of RESOLUT RE represented the landlord. Samuel Hartley of RESOLUT RE represented the tenant. Tone Shop Guitars has leased 3,451 square feet at 3220 W. Southlake Boulevard in Southlake, Texas. Gavin Fite of RESOLUT RE represented the tenant. Keith Conlon, Allie Beth Allman, and James Keoughan of Allie Beth Allman & Associates represented the landlord. Leaf Communications has leased 4,410 square feet at Pinehill Business Center (9000 Clay Road, Houston). Brian Clayton of RESOLUT RE represented the tenant. Carter Thurmond of Transwestern represented the landlord.
Longpoint Realty Partners of Boston Started Construction on Point 35/190 a 178,000 SF State of the Art Office Warehouse Project
Carrollton, Texas – Longpoint Realty Partners of Boston has started construction on Point 35/190 a 178,000 square foot state of the art office/warehouse project. The project is located at the northwest corner of Interstate 35 and George Bush Freeway. The building is designed for one to four tenants and provides excellent exposure to the freeways. The building features a 32-foot clear height, 44 dock high doors, two drive in ramps and a 142-foot-deep truck court. Additionally, the project has four acres of extra land that can provide abundant trailer parking spaces or vehicle parking spaces for a tenant’s requirements. The project is scheduled to be completed June 2021. Proterra Properties is providing development services as well as leasing services for the project.
Allen, Texas’ 135-Acre ‘Farm’ Project Attracts Major Entertainment Venue to Join Site Along 121 Corridor
The Allen Economic Development Corporation announced that JaRyCo’s 135-acre development, The Farm, which is set to break ground in early 2021, will include a 2.6-acre food and beverage-focused entertainment venue, The Hub. This comes as the city’s 121 Corridor, a five-mile stretch along State Highway 121, now includes 900 acres of planned development, with 2.5 million square feet soon underway or recently completed. The Farm site is designed to be a premier place to live, work and play with over 1.6 million square feet of office, 142,000 square feet of retail, a 150-key hotel, 60,000 square feet of restaurants, townhomes and 2,400 urban residential units. The Farm’s entertainment component, The Hub, is set to complete construction in 2022. It will feature 0.75 acres of open space, a 2,000-square-foot stage, a 5,700-square-foot outdoor, covered lawn, nine restaurants, 15,000 square feet of shared dining space and nearly 13,000 square feet of additional outdoor space. “The Farm will be a wonderful addition to the Dallas–Fort Worth metro, with the help of The Hub’s active dining and entertainment space, providing an experience that’s simply unrivaled in North Texas,” said Daniel Bowman, executive director of the Allen Economic Development Corporation. “Its dynamic location also borders other new mixed-use developments. These are projects that will appeal to office workers, residents, students and visitors across the region.” “The Hub, located at the entrance to our Central District and adjacent to West Lake Park, perfectly aligns with our mission to create a master-planned, walkable community oriented around families,” said Bruce Heller, president of JaRyCo. “As developers and operators, The Hub ensures its event spaces are activated daily. Plus, the open-air setup is perfect for today’s circumstances, allowing The Farm in Allen’s tenants and patrons to safely unwind in their own backyard.” The Farm site also embraces the property’s natural beauty with a 2.5-acre lake, boardwalk restaurants, over 2.5 miles of hike and bike trails, a 16-acre greenbelt along Watters Creek and four additional park areas. The development will tie into Allen’s extensive hike and bike trail system and will also include several energy-efficient and sustainable design features. JaRyCo engaged Omniplan Architects, civil engineer Dynamic Engineering, landscape architect TBG and RSM Designs for graphics on The Farm project. Also along the 121 Corridor, Collin College has opened a $177 million, 340,000-square-foot, four-building Technical Campus, serving 7,100 students once fully occupied. It offers courses in advanced manufacturing, health sciences, architecture and construction, science, technology, engineering and math (STEM), as well as logistics and transportation. Other planned developments along 121 include The Avenue, an 80-acre mixed-use development from Thakkar Developers, Allen Gateway, featuring a hotel and office condominiums, and Monarch City, a 238-acre mixed-use development perfect for corporate campuses. “Without question, the 121 Corridor is the future of Allen,” Bowman added. “With its shovel-ready sites along the Tollway and The Farm’s undeniable presence—offering a work-live-play fee—we expect ‘121’ to be a center of culture, innovation and employment, recognized as one of North Texas’ most prominent destinations.” Much of the five-mile corridor where Allen borders McKinney, Texas, is former privately owned farmland that is now being redeveloped to house modern amenities for the city’s growing workforce.
Younger Partners Brokers 40-Acre Mesquite Land Sale to Dalfen Industrial
Younger Partners’ John St. Clair and Jack Gail brokered the sale of almost 40 acres in Mesquite, Texas to Dalfen Industrial. The tract is on E. Scyene Road adjacent to the City of Mesquite airport. “The property was attractive to the purchaser, whom already had a presence in Mesquite and is an experienced industrial developer. They are a believer in the emerging Mesquite market,” St. Clair said. “This part of Mesquite, along with nearby Sunnyvale, has emerged as a solid industrial submarket. It was previously overlooked but has turned into a solid in-fill industrial location,” said Gail.
Younger Partners Brokers Five DFW Property Sales in 2020 Totaling 705k SF
Younger Partners managing principals Scot Farber and Tom Strohbehn wrapped up 2020 by brokering three property sales totaling more than 421,896 square feet in the fourth quarter. Their total for the year was 705,254 square feet. “The market conditions of 2020 have been unprecedented,” Strohbehn said. “The three-building sales in the final quarter of 2020 required creativity, flexibility and experience to complete. Each building was different and brought unique challenges. Fortunately, our relationships and understanding of the market allow us to identify and engage the right buyer for each building to overcome the greater market environment.” The sales included the 251,332-square-foot Creekview Corp Center I & II compound, located at Greenville Avenue and Lookout Drive in Richardson, Texas. Farber and Strohbehn worked with the buyer, Exeter Property Group. The seller was Beltway Commercial Real Estate. Located at 17330 Preston Road in Dallas, the 124,586-square-foot Preston Trail Atrium building was purchased by Dogwood Capital in partnership with an affiliate of Omaha-based Goldenrod Cos. The YP duo represented the seller, Quadrant Investment Properties LLC. Manhattan Plaza, a 45,978-square-foot building at 6850 Manhattan Boulevard in Fort Worth was purchased by Goshen Partners, LLC. Farber and Strohbehn represented the seller, Manhattan Partners, LP. Earlier in the year, Farber and Strohbehn also sold the 185,148-square-foot building at 2901 Kinwest Parkway in Irving, Texas; Sunwest Real Estate Group purchased the asset from iStar, which was represented by Farber and Strohbehn. They also facilitated the sale of The Hills at Decker Court, located at 100-102 Decker Court in Irving, Texas. Benjamin Hill, LLC—represented by Lee & Associates’ Tom Grant and Brad Gilmer—purchased the 98,210-square-foot building; the seller, FN Decker Court, LLC, was represented by Farber and Strohbehn. “The uncertainty surrounding the COVID virus and the resulting impact on the economy have forced buyers and sellers of real estate to reconsider their business plans,” Strohbehn said. “As a result, the market has slowed considerably in 2020. With the election behind us and the vaccine on the horizon, we expect the market to build momentum and begin to normalize In Q2 2021.” Currently, Farber and Strohbehn are listing the 439,801-square-foot Oil & Gas/Star–Telegram Buildings at 307-309 W. 7th Street in the Fort Worth CBD, as well as 3203 McKinney Avenue, a 13,265-square-foot boutique building in the heart of Uptown Dallas.