Stream brokers several deals in DFW

Stream Realty Partners recently completed four transactions in the Dallas/Ft. Worth metro area. AMG Technology Investment Group, LLC leased 5,410 square feet at Village at Camp Bowie, 6115 Camp Bowie Boulevard, in Fort Worth. Cullen Donohue and Vic Meyer with Stream Realty Partners represented the landlord, Seaboard Capital. Customer First Real Estate represented the tenant. BKM Sowan Horan, LLP leased 8,854 square feet at The Colonnade I, 15301 N. Dallas Parkway in Addison, Texas. J.J. Leonard and Ryan Evanich with Stream Realty Partners represented the landlord, Fortis Property Group. Cushman & Wakefield of Texas, Inc. represented the tenant. Monitpora, LLC purchased a 15,260-square-foot industrial building at 2505 Farrington Street in Dallas. Hanes Chatham with Stream Realty Partners negotiated the transaction. Pratt Corrugated Holdings, Inc. renewed its 294,952-square-foot lease at Southfield Park 35, 9209 Old Hickory Trail, in Desoto, Texas. Matt Dornak and Drew Feagin with Stream Realty Partners represented the landlord, Cabot Properties. Jones Lang LaSalle Brokerage, Inc. represented the tenant.

Accesso signs leases totaling more than 170,000 SF in multiple markets

Accesso, a fully integrated investment manager and operator of multi-tenant office buildings, signed more than 25 leases totaling over 170,000 square feet across its portfolio since the beginning of April, despite the challenging market environment brought on by the COVID-19 crisis. The leases were completed across some of the most densely populated urban markets in the U.S., including Chicago, Dallas, Houston and Minneapolis. “Our ability to execute a significant number of new leases and lease renewals, particularly in light of the headwinds associated with COVID-19, is a reflection of the quality of our portfolio and the strong relationship we have with our clients,” said founding and managing partner, investments Ariel Bentata. “Our tenants have long appreciated our efforts to support the health and wellness of all who work in our buildings through diverse programming, hands-on property management and stellar amenities, and we believe the robust steps we’ve taken to mitigate the spread of infectious diseases have provided added peace of mind in this uncertain environment.” Two of the leases were at Towers at West End in Minneapolis. Magenic, an information technology services firm, took 29,000 square feet and Total Expert, a fintech software company, took 28,000 square feet. Other notable leases include health care services firm, Concentra, taking 19,000 square feet at 1849 Legacy Drive in Dallas. In Chicago, Nolan Law Group leased 12,000 square feet at 20 N. Clark Street. “In challenging times like these, we’re fortunate to have strong relationships with a brokerage community that continues to go above and beyond to keep our properties top-of-mind with prospective tenants,” said managing director, asset management Paul Gaines. “Brokers have been critical to enhancing our communications with tenants in this unprecedented environment, and they have recognized the unique value proposition that each property provides to its respective market.” Accesso has implemented a number of measures to ensure the safety and well-being of tenants and team members across its portfolio, including placing hand sanitizer stations in common areas; reducing physical contact with high-touch surfaces; installing signage reinforcing the need for cleanliness and social distancing; cleaning HVAC systems with Blue Box in most properties to ensure buildings are circulating the highest-quality air; increasing the frequency with which properties are professionally cleaned and enhancing communication with tenants. In addition, Accesso continues to abide by federal and local guidelines as well as the recommendations outlined by the Centers for Disease Control and Prevention and the World Health Organization. “Throughout the crisis, we have remained transparent and proactive in communicating what we’re doing to prepare our portfolio for the country’s re-opening, and we will continue to be there every step of the way for brokers despite the logistical challenges associated with operating virtually,” Gaines said. “As a result, brokers and prospective tenants have greater confidence knowing that their health, safety and happiness remains our top priority.”

Single-tenant, net-leased headquarters trades hands in suburban DFW

Marcus & Millichap brokered the sale of the Caliber Collision headquarters, a two-story, 80,038-square-foot Class A office complex in Lewisville, Texas. “This is a legacy site surrounded by other notable company headquarters in a northern Dallas/Fort Worth submarket,” said Alvin Mansour, executive managing director investments, The Mansour Group of Marcus & Millichap. “Caliber Collision, the nation’s largest and leading auto collision repair operator, is on a long-term absolute net lease. Again, we see quality, net-leased investments weathering recent turbulence in the market.” Mansour and Kevin Mansour represented the seller and procured the buyer, who completed a 1031 exchange with the sale of a multifamily property in southern California. Built in 2006 on a 5.8-acre lot and renovated by Caliber Collision in 2018, the property is less than 25 miles north of Downtown Dallas, surrounded by other major corporate headquarters such as AT&T, American Airlines, GameStop, Southwest Airlines and many more. The Music City Hall and Grapevine Mills shopping malls are close by, as are major employers Xerox, Bed Bath & Beyond, FedEx Freight, Sysco and Kellogg’s. The city of Lewisville is served by three major transportation corridors—Interstate 35E, President George Bush Turnpike, State Highway 121—and has three commuter rail stations that tie into the Dallas Area Rapid Transit system.

Office building in Granbury, Texas sells for $2.2 million

Marcus & Millichap facilitated the sale of an 8,000-square foot Davita & Great Expressions Dental office property located in Granbury, Texas, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $2,231,000. Dominic Sulo, first vice president, and Brett Winger, associate, and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. Tim Speck assisted in closing this transaction as the broker of record in Texas. The asset is located at 1200 Paluxy Road in Granbury, at the corner of US Highway 377 and Paluxy Road. A buyer was procured in the first week of marketing and closed in the midst of COVID-19.

Single-tenant, net-leased headquarters trades hands in suburban DFW

Marcus & Millichap brokered the sale of the Caliber Collision headquarters, a two-story, 80,038-square-foot Class A office complex in Lewisville, Texas. “This is a legacy site surrounded by other notable company headquarters in a northern Dallas/Fort Worth submarket,” said Alvin Mansour, executive managing director investments, The Mansour Group of Marcus & Millichap. “Caliber Collision, the nation’s largest and leading auto collision repair operator, is on a long-term absolute net lease. Again, we see quality, net-leased investments weathering recent turbulence in the market.” Mansour and Kevin Mansour represented the seller and procured the buyer, who completed a 1031 exchange with the sale of a multifamily property in southern California. Built in 2006 on a 5.8-acre lot and renovated by Caliber Collision in 2018, the property is less than 25 miles north of Downtown Dallas, surrounded by other major corporate headquarters such as AT&T, American Airlines, GameStop, Southwest Airlines and many more. The Music City Hall and Grapevine Mills shopping malls are close by, as are major employers Xerox, Bed Bath & Beyond, FedEx Freight, Sysco and Kellogg’s. The city of Lewisville is served by three major transportation corridors—Interstate 35E, President George Bush Turnpike, State Highway 121—and has three commuter rail stations that tie into the Dallas Area Rapid Transit system.

Marcus & Millichap arranges sale of 13,720-SF net-leased property

Marcus & Millichap brokered the sale of a 13,720-square-foot, net-leased property located in Greenville, Texas, according to Steven Ross Chaben, regional manager of the firm’s Detroit office. The asset sold for $2,705,000. Ashish Vakhariya, Darin Gross and Seth Haron, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Gabriel Britti, Ricardo Esteves and Ronnie Issenberg, investment specialists in Marcus & Millichap’s Miami office Regional Manager, Broker, assisted in closing this transaction. Located at 5010 Wesley Street in Greenville, the building is situated on a 1.93-acre lot. The tenant, CVS Pharmacy, had 11 years remaining on their absolute-net lease term, guaranteed by CVS Health Corporation.