Rajib Rajbhat leased 2,192 square feet at 1333 Corporate Drive in Irving, TX. Allison Fannin represented the landlord, Hartman Income REIT.
Category: Deals & Announcements
Cushman & Wakefield Arranges 1,300-Square-Foot Lease on Behalf of Three Brothers Bakery
Cushman & Wakefield announced today the real estate services firm has arranged a 1,300-square-foot lease for Three Brothers Bakery at Tanglewood Center.
Michael Burgower and Eric H. Lestin of Cushman & Wakefield represented the tenant in the lease negotiations. Kathy King of Edge Realty Partners represented the landlord, Unilev Capital.
Developed, owned, and operated by fifth-generation baker Bobby Jucker along with wife, Janice Jucker, the new Three Brothers Bakery Tanglewood will fill a void in the market, offering guests an experience featuring fresh, scratch-made baked goods and house-roasted coffees.
Located at 500-574 Chimney Rock Road, Tanglewood Center totals 33,151 square feet and is anchored by Walgreens and the Bank of Texas.
American Landmark Acquires Fort Worth Apartments
American Landmark Apartments has acquired Cavalli at Iron Horse Station, a brand-new, 328-unit apartment community located in the Fort Worth submarket of North Richland Hills, Texas. This is American Landmark’s fourth multifamily apartment community in Fort Worth, and its 12th in the Dallas-Fort Worth metro area.
According to Moody’s Analytics, the pandemic accelerated a wave of professional relocations to the Dallas-Fort Worth area, and net migration is expected to grow by 42 percent in 2022 alone. Employment is also projected to increase by 4.8 percent.
Built in 2021 and located at 6490 Iron Horse Boulevard, Cavalli at Iron Horse Station offers one-, two- and three-bedroom floor plans ranging from 605 to 1,298 square feet. Apartments feature high nine-foot ceilings with Energy Star-rated ceiling fans and custom light fixtures, vinyl-wood plank flooring, granite countertops, garden bathtubs or walk-in showers, energy-efficient water heaters and stainless-steel appliances, large covered patios or balconies and walk-in closets.
The pet-friendly community also provides a wide range of modern amenities, including a resident lounge with Wi-Fi, resort-style swimming pool, media room with shuffleboard and foosball, fitness center and yoga studio, barbeque and picnic area, pet park, spa and grooming station, 24-hour emergency maintenance and controlled-access entry.
The property is conveniently located just 5 minutes north of the I-820 Express, a 30-minute commute to downtown Fort Worth or downtown Dallas. The property offers a suburban lifestyle close to various dining and shopping options, like North East Mall and Melbourne Plaza.
Piedmont Office Realty Trust Secures Large Renewal in Irving
Piedmont Office Realty Trust, Inc. has secured a lease renewal through 2028 with a national pharmaceutical retailer for approximately 164,000 square feet at 750 W. John Carpenter Freeway in Irving, Texas. This renewal addresses Piedmont’s largest 2022 expiration with positive economic metrics and currently leaves only 5% in scheduled expirations in the company’s portfolio for the remainder of 2022.
750 W. John Carpenter Freeway is located in the heart of Irving with direct visibility from State Highway 114. Piedmont is commencing renovations at the project including a lobby redesign, a tenant amenity lounge, enhanced food service offerings and expanded outdoor collaboration space. The property also provides tenants with a 100-person conference center and an on-site fitness facility in addition to a tenant shuttle for direct access to the Toyota Music Factory and other nearby food and retail amenities.
KBS Signs 42,290-square-foot Lease Agreement with SPB Hospitality at The Offices at Greenhouse in Houston
KBS has signed a new 42,290-square-foot lease agreement with SPB Hospitality, a national leading operator and franchisor of full-service dining restaurants, at The Offices at Greenhouse, a five-story, 203,284-square-foot office property in the Energy Corridor of West Houston, Texas. The Offices at Greenhouse is owned by KBS Growth & Income Real Estate Investment Trust.
“Houston remains an attractive market for corporate headquarter locations and other significant employment hubs, and not only in the energy space as the region gained two new Fortune 500 companies in the last year for a total of 24, making it the third largest concentration in the nation,” says KBS Western Regional President Gio Cordoves.
SPB Hospitality, which operates, and franchises steakhouses, brewery and craft-beer focused casual dining restaurants nationwide, will occupy space on the fifth floor of The Offices at Greenhouse and utilize it as its new headquarters. The move demonstrates companies’ desire to return to the workplace after nearly two years of remote work.
The transaction is an example of how companies are increasingly bringing back their employees for in-person collaboration as office owners across the country implement effective safety measures to protect tenants’ health and wellbeing.
Built in 2014, The Offices at Greenhouse offers tenants several additional amenities that can contribute to health and wellness, such as natural lighting, a landscaped exterior tenant courtyard and a large conference center. The asset houses a walkway-connected four-level structured parking garage and provides access to major highways and intersections.
The Offices at Greenhouse is located near daycare centers, a fitness center, and a variety of food and beverage options, including Chick-fil-A, Corner Bakery, Wingstop and Starbucks. It is also in close proximity to medical facilities and a bustling shopping center.
Brad Fricks of Stream Realty Partners represented KBS, and Jon Silberman and Pierce Beyer of NAI Partners represented SPB Hospitality in the lease transaction.
The Offices at Greenhouse is located at 19219 Katy Freeway in Houston, Texas. KBS currently has 16 properties throughout Texas.
Dilweg Expands to Texas with Purchase of Royal Tech Business Park in Irving
Dilweg, a leading real estate investment firm with 5.5 million square feet of assets under management in the Southeast, announces its first acquisition in Texas, increasing its reach across the Sunbelt. Dilweg has acquired 11 buildings commonly known as Royal Tech Business Park in Irving, Texas, which it plans to rename Royal Tech Commons as part of an overall creative repositioning strategy. Centrally located in Irving, TX, between Dallas and Fort Worth, Royal Tech Commons consists of 11 single-story buildings totaling approximately 622,000 square feet, which feature office, lab and warehouse space, plus a 9.2 acre vacant land parcel adjacent to I-635.
Royal Tech Commons sits within Irving’s prestigious Las Colinas community. The property has surface parking and customizable suites ranging from 1,000–75,000 square feet. In addition, Royal Tech Commons has direct access to Dart’s bus route service. Current notable tenants include Wells Fargo Bank, TekSystems Global Services, Coinmach Service Corp and Whataburger Restaurant Corp.
As part of the repositioning planned for the property, Dilweg plans to implement numerous capital improvements as part of a strategic rebranding campaign that will include new outdoor amenity spaces, modern building signage, contemporary wayfinding throughout, new landscaping, roof replacements, HVAC improvements and parking lot upgrades.
JLL’s Chris Wright and Russ Johnson represent Dilweg for future leasing efforts. CBRE’s Randy Baird, Patrick Benoist, Jonathan Bryan, Jared Chua, Michael Dewey and Russell Ingrum represented the seller.