FRISCO, Texas (October 7, 2021) – Dallas-based Cambridge Holdings Incorporated, a national healthcare, commercial office and mixed-use real estate firm, has entered into an exclusive agreement with the Frisco Station Partnership to develop healthcare and health and wellness-related projects within Frisco Station, a 242-acre mixed-use development in Frisco. This agreement will commence the Health and Wellness District at Frisco Station, situated in the northwest quadrant of the Dallas North Tollway and Warren Parkway, adjacent to the Dallas Cowboys’ world headquarters, The Star, and The Ford Center.
“With Cambridge joining our team, we are reaching the full potential of Frisco Station as a globally recognized Smart, Creative, and Healthy mixed-use neighborhood,” said Trey Sibley, general manager of The Rudman Partnership. “As a well-known powerhouse, Cambridge brings the most innovative approaches to health and wellness-related development. We couldn’t be more pleased to have them join us as we execute what’s considered to be the crown jewel of the project – the place where residents and visitors can experience ways to live healthier, more active and longer lives.”
A result of a prominent partnership between Rudman, Hillwood and VanTrust Real Estate, Frisco Station Partners has delivered 650,000 square feet of office space, 955 units of multifamily housing, 450 hotel rooms and six acres of a programmed park system since launching the project in 2015. As one of the first communities in the nation built from the ground up with AT&T’s 5G platform, Frisco Station has leveraged this connectivity throughout the development to create one of the most robust mixed-use projects in North Texas. Click to read more at www.wolfmediausa.com.
Gensler architect Steven Upchurch drives past Campbell Centre every day on his way to and from work. Despite being called the “fugliest” building by the Dallas Observer, the twin gold towers—flush with history—still manage to spark interest for the esteemed designer.
Located at the intersection of North Central Expressway and Northwest Highway, the first tower at Campbell Centre was built in 1972 using glass with a microscopic coating of real gold. The second building was added in 1977.
Cementing a place in American television, the buildings were portrayed as the office of Cliff Barnes—the nemesis of J.R. Ewing on the popular television show Dallas from 1982 to 1988.
But, as the investors who purchased the building (Fenway Capital Advisors and Waterfall Asset Management) put it, the building has lost some of its luster over the years.
Patrick Tribolet, managing partner of Fenway Capital, had been eyeing Campell Centre since pre-COVID and, about a year into the pandemic, purchased the 20-story towers. It is said the property sold for about $105 million, or about $120 per square foot. At the time (in April), it was the second-largest office acquisition in 2021 to take place in North Texas. Click to read more at www.dmagazine.com.
Founded in 1989, Regent Properties, LLC is a real estate investment management and development firm based in Dallas, Texas, and Los Angeles, California. The company is a vertically integrated operator and fund manager with investments managed throughout the Sun Belt markets. They have registered investment advisors who manage a variety of investment portfolios.
Regent Properties continues to grow as they open a second headquarters in Dallas. New and existing members of Regent Properties’ corporate team will relocate to the Dallas Fort-Worth area. This expanded corporate presence will function in parallel with the company’s longtime headquarters in Los Angeles.
Eric Fleiss, CEO of Regent Properties, explained, “As Regent looks to acquire a significant amount of high-quality office product across the Sun Belt over the next 24 months, it makes perfect sense to be rooted full-time in one of our core historical markets, where we can remain in constant touch with our entire portfolio. DFW is one of the fastest-growing metros in the nation and offers unparalleled infrastructure, talent, and dynamism to help build on Regent’s 30-plus year track record of success.” Click to read more at www.dallasexpress.com.
Thanks to the influx of people moving to the area and pent-up demand from last year’s pause in multifamily construction, Dallas’s commercial real estate is in a hyper-growth mode with many construction projects underway. Despite this generally positive state of affairs, it’s evident that our industry as a whole is experiencing macroeconomic influences on construction costs.
While I personally thought there may have been a temporary pause or even a reduction in construction costs due to COVID-19, and the resulting delay in construction starts in Q2 of 2020, this has not happened.
Volatile Costs Rattle Developers
The main headline throughout 2021 has been the parabolic rise and subsequent fall in the price of lumber, with prices escalating to a high of more than 300 percent of what they were in April 2020.
Then in mid-July, we saw lumber prices crash so much so that it started to give hope to developers and builders. Although lumber certainly is consuming the headlines, it is not the only area of concern. Collectively, the cost of building supplies has increased by close to 13 percent over the past year, according to Bisnow. Click to read more at www.dmagazine.com.
DALLAS and FORT WORTH, Texas, Sept. 23, 2021 /PRNewswire/ — Stream Realty Partners (Stream), a national real estate services, development, and investment company, announced today the expansion of its national occupier platform by launching Program Management Services. Joe Iatauro, an 18-year industry veteran, has been recruited to lead the new service as Executive Managing Director.
Stream’s enhanced offering is designed to align an occupier’s full spectrum of business needs with their real estate. This offering will encompass services, including, but not limited to, supply chain, business and economic incentives, development, design and construction, technology, security and loss prevention, FF&E, material handling, and racking, that provide flexibility to occupier business growth and achieve greater financial returns.
Under Iatauro’s leadership, the group will complement Stream’s leasing, site selection, investment sales and property management services, with a priority focus on the industrial sector. With specialty expertise in food processing, cold storage, manufacturing and distribution facilities, future expansion plans include retail and office. Click to read more at www.inforney.com.
GLENDALE, Calif.–(BUSINESS WIRE)–Sep 1, 2021–PS Business Parks, Inc. (NYSE:PSB) announced today that it has completed the acquisition of Port America, a 717,735 square foot multi-tenant industrial park located in Dallas, Texas, for a total purchase price of $123.0 million.
Port America consists of 15 buildings with an average customer size of 8,000 square feet and was approximately 96% occupied at closing. The park is strategically located immediately adjacent to DFW International Airport on fee simple land. The park is uniquely positioned to provide institutional quality industrial space to small- and medium-size users seeking a premium location, 26-foot clear heights, ample dock loading, and access to key freeways serving DFW Airport and the Dallas Metroplex. The park is complementary to PSB’s existing Dallas, Texas, industrial and flex portfolio totaling 3.0 million square feet.
“Port America fits perfectly with our small bay industrial investment strategy. The combination of dock-served suites averaging 8,000 square feet, fee simple land in an irreplaceable location, and our best in class local operating platform should result in strong long-term growth for our stockholders,” said Mac Chandler, President and CEO of the Company. Click to read more at www.galvnews.com.