JLL Capital Markets announced today that it has closed the sale of Methodist Transitional Care Center, a 100-bed, 66-unit, transitional care facility in the Dallas suburb of DeSoto.

JLL represented the seller, Madison Marquette, in the sale to LFI Real Estate. The absolute net lease had just over 13 years of primary term remaining at sale, but there are also two five-year renewal options. The cap rate based on year one rent is 6.8%.

Methodist Transitional Care Center is leased to a joint venture between Methodist Health Systems and HMG Healthcare. The facility is equipped with advanced technologies and specialized resources for patients needing intravenous therapy, physical therapy, speech therapy, occupational therapy, wound care, pulmonary care and many other treatments and services. The center features a large state of the art therapy gym, resident dining area, full bathrooms with showers in all resident rooms, a fully outfitted commercial kitchen and a centrally located administration area with offices, storage and a conference room.

The facility is situated at 109 Methodist Way and is well located to serve discharges from the four Methodist Health Systems hospitals within 15 miles of the property. Developed by Madison Marquette in 2020, the facility is licensed as a skilled nursing facility and is Medicare certified.

The JLL Capital Markets team representing the seller was led by Managing Directors Charles Bissell and Evan Kovac.

TradeLane Properties announced the acquisition of 1650 S. Cherry Lane, a former “big box’ retail facility totaling 120,200 square feet in Fort Worth. This facility is situated on 8.52 acres with three drive-in doors, four dock doors, 18-foot clear height, 1,600 amps of power, 201 auto stalls and a 370-foot deep truck court.

Purchased within the TradeLane Properties U.S. Industrial Fund II, a value-add investment fund focused on key Central U.S. logistics markets, this investment was 100% vacant upon acquisition. As part of its investment strategy, TradeLane Properties has rezoned the premises to warehouse/distribution and will redevelop the facility to an industrial facility offering significant outside storage. Improvements include new LED lighting, significant asphalt and concrete work, security fencing, exterior and interior building paint, additional dock doors and new spec office space. The redeveloped asset is listed for lease with Todd Hubbard and Jake Blankenship with NAI Robert Lynn.

TradeLane Properties would like to thank Todd Hubbard and Jake Blankenship with NAI Robert Lynn, Wintrust Bank, and Barack Ferrazzano Kirschbaum & Nagelberg LLP for their assistance in this transaction.

Dallas-based national multifamily investor, S2 Capital has added 14 properties to its portfolio that spans both Dallas-Fort Worth and Houston—totaling 4,455 units with a total of 11 properties based here in North Texas.

According to Real Capital Analytics, S2 Capital is now the No. 1 most active buyer of multifamily in Dallas-Fort Worth in the past five years with its latest acquisition.

Each of the 14 properties was built between 1979 and 1987, and S2 has already begun planning renovations for the exterior and interior of each asset. In an attempt to “offer current and prospective residents an enhanced community experience,” some of the exterior renovations will include enhanced pools, fitness centers, leasing offices, clubhouses, and fresh paint and siding. Similarly, it plans to give each interior a facelift with new flooring, countertops, kitchen and shower tile, light fixtures, hardware, and appliances.

Scott Everett, founder and CEO of S2, told D CEO: “We believe DFW is now the best multifamily investment market in the country. You have to be bullish about a market with record in-migration, a business-friendly climate, household income growth, manageable inventory levels, and strong housing demand. We are very excited about the future of Dallas.” Click to read more at www.dmagazine.com.

Colliers has announced the launch of leasing and marketing efforts for the comprehensive redevelopment of Radiance Plaza, a boutique office property located at 1301 Young St., immediately adjacent to the AT&T Discovery District. The building has a large contiguous vacancy of 107,463 rentable square feet, including a rare, oversized floor plate of 55,182 rentable square feet and parking of up to 3:1000. Building signage and naming rights are available for the property.

“We are thrilled to lead the marketing of this iconic asset,” said Colliers Executive Vice President Sara Terry. “With its incomparable Downtown Dallas location between the AT&T Discovery District – which had more than 2.7 million visitors in 2021 – and Dallas City Hall, Radiance Plaza has the potential to attract a diverse range of businesses as long-term tenants,” Terry continued. “The surrounding neighborhood has dramatically transformed over the past two years. We expect Radiance Plaza to generate exceptional interest from tenants seeking an unparalleled, amenity-rich destination with phenomenal access in the heart of the CBD.”

Originally developed as a corporate headquarters, then leased for more than 20 years by federal agencies, this is the first time in its history that Radiance Plaza is available for lease by the broader market. With the opening of the AT&T Discovery District to the north and the planned expansion and redevelopment of the Dallas Convention Center to the south, there is substantial positive momentum to capitalize on. As further planned development occurs up to I-30 and across to the Cedars, Radiance Plaza sits at the nexus of Dallas’ new urban core.

Renovation plans for Radiance Plaza include a redesigned grand lobby featuring a 12-story glass atrium with sweeping views of the adjacent 11.8 acres of city parks, highly sought amenities including an extensively landscaped outdoor plaza, a state-of-the-art conference center, well-appointed tenant lounge space, rooftop lounge and updated common areas and restrooms throughout.

JLL Capital Markets has closed the sale of a 19-building portfolio comprising 764,156 square feet of infill shallow-bay industrial space in the Dallas-Fort Worth area.

JLL marketed the property on behalf of the seller, MoxieBridge. Arden Logistics Parks, (ALP) a logistics real estate operating platform, acquired the asset on behalf of Arden Group and Arcapita.

The portfolio caters to a wide range of light industrial and big box users with suite sizes ranging from 4,600 to 75,000 square feet, clear heights ranging from 16 to 32 feet and 21% office finish. The portfolio’s 19 buildings are 96% leased to 29 diverse tenants with an average remaining lease term of 4.3 years.

The portfolio comprises:

15301-15232 Midway, Addison
1705 John Connally, Carrollton
3325-2442 Halifax, Dallas
712-740 West Mockingbird, Dallas
3138 Quebec, Dallas
4700 Alpha, Dallas
12400 Ford, Farmers Branch
3609 Marquis, Garland
902-910 Fountain, Grand Prairie
2120 Vanco, Irving
3301-3401 Innovative, Mesquite
555 S. Town East, Mesquite
206 S. Town East, Mesquite
545 Commerce, Southlake

These properties are widely dispersed across seven infill, established industrial submarkets, providing geographic diversification and proximity to significant demand travers and the area’s major transportation arteries. Additionally, the buildings can draw from a highly skilled labor pool, with the area leading the nation in both population and job growth over the last decade.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Stephen Bailey, Dustin Volz, Dom Espinosa, Wells Waller, Pauli Kerr and Cole Sutter.

Dallas-based Hoque Global announced its newest property under development: the 270-acre University Hills project near the intersection of I-20 and Lancaster Road, and only a short drive from The University of North Texas at Dallas.

Collectively with the city of Dallas and other community stakeholders, Hoque Global plans to transform the undeveloped land into a large-scale mixed-use community. Surrounding a large town center, University Hills plans hundreds of single-family homes, 1,500 multifamily units, millions of square feet of commercial space, and more than 50 acres of green space.

According to a release, Hoque Global makes it a point to place a special focus on investing and developing in projects that benefit underserved communities. In adhering to this mission, this newest development plan in southern Dallas would not only be one of the first in the area, but also has the potential to encourage future growth, says Mike Hoque, CEO of Hoque Global. Click to read more at www.dmagazine.com.