NewQuest Properties Brokers Land Sale in Houston Metro

BF Spring LLC, doing business as Billiard Factory, has purchased 1.6 acres at the intersection of Grand Parkway and Spring Stuebner Road in Spring, Texas. Randy Nerren and Trevor Nerren of NewQuest Properties represented the buyer. Mark Terpstra of Terpstra & Associates represented the seller, Five Forks Village LLC.

Bradford Rolling Out New Leasing Concept at 72,000-SF Office Project in NE Dallas

AG Commercial Management has selected Bradford Commercial Real Estate Services to lease its newest holding, White Rock Tower, the only mid-rise office project in a predominately residential neighborhood in northeast Dallas. The new assignment is a 72,551-square-foot, six-story building at 6510 Abrams Road in Dallas. Leading the leasing charge will be Melanie Hughes, Bradford’s senior vice president, and Erik Blais, vice president. “We’re introducing a new leasing concept, the ‘Run Home Zone.’ We’re focusing on prospects who want to do life and work closer to home, particularly during the continued uncertainty of COVID,” Hughes said. “It enhances the live-work lifestyle in ways that a home office cannot and keeps tenants close enough to help with daily needs like school runs.” The mid-rise is located in a densely populated neighborhood of apartments, single-family homes and public/private schools along with big box and basic services’ retail. It’s also about three miles north of one of the city’s most popular recreational amenities, White Rock Lake and the Dallas Arboretum & Botanical Garden. “We know that many people who are working from home still want an office presence,” Hughes said. “The convenience of being 10 minutes between both locations is a strong attraction.” White Rock Tower is more than 90 percent leased to 49 tenants, representing a wide spectrum of professional services. The largest tenant is Re/MAX DFW Associates, which occupies more than, 8,200 square feet. With a new owner and leasing team in place, the next move is a major renovation of the lobby and fourth-floor conference center and tenant lounge. Spec suites will be added, as will exterior building signage. White Rock Tower also is home to a 4,000-square-foot executive suites’ center that can double as incubator space and a Parks Café, a popular break-room kiosk concept in many Dallas office buildings. Tenant amenities also include key-card access, security guards and a 4:1,000 parking ratio on a surface lot with 24 covered spaces. Completed in 1981, the mid-rise building is set on nearly 2.8 acres at the corner of Abrams Road and Larmanda Street. At the edge of the property is a Comerica bank offering lobby and drive-through services. Northwest Highway is just a few blocks away. Central Expressway and Interstate 635 also are close by. A U.S. Post Office abuts the project. “White Rock Tower is located close to retail, other neighborhood services and homes,” Hughes said. “Creating a ‘Run Home Zone’ for marketing projects makes perfectly good sense in today’s business world.”

Renovated Historic Fort Worth Office Building—with Moving Glass Conference Room—Hits the Market

Transwestern Real Estate Services is the exclusive sales agent for Winfield Place, a 33,064-square-foot, three-story office building at 210 E. 8th Street in downtown Fort Worth. Transwestern principal, Kirk Kelly, represents the property owner, Left Deep Left LP. Originally constructed in 1919 as Fort Worth’s first parking garage, intended for what was the Winfield Hotel, the space has since gone through nearly $7 million in renovations to convert the 101-year-old building into an open, modern office environment. “Winfield Place presents a rare opportunity to purchase a fully renovated and iconic office building,” said Kelly. “The property is ideal for an investor or user that is looking for a plug-and-play office opportunity, and it is well-suited for a single or multiple tenants.” The showpiece of the original building was the car lift that once transported vehicles to each level of the garage. After undergoing renovations in 2016, the space was transformed into an operational elevator serving as a glassed-in conference or board room that allows tenants to utilize the meeting space on each floor with the press of a button. The extensive conservation goals during the renovation earned the building the Preservation Award in 2017 by the Historic Fort Worth Association. “The labor force in Fort Worth grew by 30.2 percent during the past nine years, 4.4 times faster than the 6.9 percent growth rate of the national labor force,” said Kelly. “This locally listed historic landmark is a great opportunity for a company to call this area home and continue the legacy of the building for years to come.” According to Transwestern’s second quarter submarket report, the Fort Worth Central Business District is expected to remain relatively stable in the long term due to high-quality space for users throughout the broader Fort Worth office market.

LPC’s 1-Million-SF South Dallas Spec Project to Deliver in Q2 of ‘21

Logistics Property Company, LLC (LPC) is on schedule to deliver Southport Logistics Park, Building 3 (Southport 3) in the City of Wilmer, Texas, in Q2 2021. Southport 3 comprises one speculative, state-of-the-art, Class A distribution facility totaling more than 1 million square feet—expandable to 1.2 million square feet. At full build-out, Southport Logistics Park will house over 3.55 million square feet of Class A industrial space. It is located within a 252-acre, master-planned logistics destination in the South Dallas submarket of Dallas-Fort Worth (DFW). Well-known corporate neighbors in the industrial park include an operating subsidiary of a Fortune 100 e-commerce retailer, and an iconic American consumer packaged goods manufacturer. “2020 has continued to attract new tenants to the South Dallas submarket, as the overall DFW population increased due to corporate business relocations,” said Kent Newsom, LPC’s executive vice president – south region. “Southport 3 is strategically positioned to take advantage of the increase in e-commerce demand combined with the lack of 1 million square foot competition in the market.” Located immediately east of Interstate 45 and the Union Pacific Intermodal, five miles south of Interstate 20 and three miles south of the second busiest FedEx Ground hub in the U.S., Southport offers tenants a premier logistics location within DFW. “This site allows for a single building of 1 to 1.2 million square feet,” said Kacy Jones, senior vice president, CBRE Dallas-Fort Worth. “It also boasts 40-foot clear height, room for more than 300 trailer parking spaces and over 650 car parking spaces.” The land available for potential expansion doubles as additional car and/or trailer parking for large e-commerce users. Moreover, the attractive financial incentives of the Tax Increment Reinvestment Zone (TIRZ) combined with LPC’s solid build-to-suit track record position this opportunity as one that will not last.

Safespill Inks new 55,000-SF Lease Near 610 South Loop

Safespill has signed a new, 54,869-square-foot lease at 1900 Crosspoint in Houston. The fire protection firm is relocating from its existing facility off Knight Road. Transwestern Real Estate Services’ Carter Thurmond provided tenant advisory services on behalf of Safespill, whose company growth stems from high demand from the U.S. military and large third-party logistics companies. Evtex Companies, which owns the property, was represented by Robyn Berry and Janae Evans. “It was a pleasure working with Safespill, and I look forward to serving their needs for years to come,” said Thurmond. “The space at Crosspoint not only satisfies the tenant’s current growth needs but also provides a runway for them to continue growing.” 1900 Crosspoint is a freestanding building with a fenced truck court that provides excellent access to Houston’s Loop 610 and the Texas Medical Center. The building configuration includes 46,393-square-feet of warehouse space and 8,476 square feet of office space.