JLL’s capital markets team has closed the sale of Park Row Logistics Center, a new, 155,425-square-foot, industrial warehouse in the Dallas-area community of Arlington, Texas. JLL represented a joint venture between developer Stream Realty Partners and LaSalle Investment Management in the sale to Clarion Partners, LLC for an undisclosed sum. The Class A+ Park Row Logistics Center is fully leased to Mochila Fulfillment, which provides order fulfillment and warehousing services to e-commerce brands. The single-load building was completed in late 2019 and features a 32-foot clear height, 180-foot truck court, 28 trailer parking spaces, 22 dock-high doors, 60 loading bays, one oversized door, one drive-in door, and low office finish. Situated on 9.23 acres at 3301 E. Park Row Drive, the property is in the Great Southwest/Arlington Industrial submarket, which is known for its central location within the Dallas-Fort Worth metroplex. This location has access to major interstates and highways, including Interstates 20 and 30 and highways 183, 161, and 360, which provide the tenant easy access to approximately 58.6 million customers within a one day’s drive. The COVID-19 pandemic and the shelter-in-place policies that ensued have accelerated e-commerce growth and the need for warehouse space across the nation. JLL expects e-commerce sales could hit $1.5 trillion by 2025, which would increase the demand for industrial real estate to an additional 1 billion square feet. JLL reports that strong fundamentals and ongoing demand for space in the DFW market will continue to push rents higher along with new speculative construction well into 2021. The JLL capital markets investment advisory team representing the seller was led managing director Dustin Volz, senior director Stephen Bailey, and analysts Zach Riebe and Austin Ross.

Younger Partners is exclusively listing the five-building headquarters for Thryv Holdings at 2200 W. Airfield Drive at DFW Airport. The fully furnished complex is plug-and-play and available immediately, said Younger Partners corporate services director Bob Acuff, who is exclusively listing the property for Thryv with the assistance of broker Tanja McAleavey. The largest sublease space in Dallas-Fort Worth is a one-of-a-kind corporate campus that was originally a build-to-suit for Braniff International Airways. “All five buildings have been well maintained by Thyrv’s facility management team and are in move-in ready condition right now,” Acuff said. “The property is in a great location and has good ingress/egress off Airfield Drive-by DFW Airport with numerous amenities close by.” The site features more than 1,000 parking spaces with more than 900 covered. It also has back-up generators for uninterrupted power during service failures. The sublease is available through Dec. 31, 2025. “This opportunity is perfect for a large corporate user looking for a low-cost plug-and-play campus setting,” Acuff said. “The floor plates are also easy to demise for smaller users, as well, starting at 5,000 square feet.” The campus includes Building A with three floors of office space on 49,150-square-foot floor plates; Building B includes three floors with a cafeteria, central plant, data center and office space; Building C includes an auditorium and office with training facilities; Building D features a 77,491-square-foot hotel and conference center along with a 30,983-square-foot fitness center and Building E has 8,400 square feet of training facilities and 21,816 square feet of office space.

Maverick Commercial Mortgage closed on the first mortgage for Hillcrest and Chiesa Manufactured Housing Communities. Hillcrest MHC is located at 2500 Forth Worth Drive in Denton, Texas and Chiesa Estates is located at 7400 Chiesa Road in Rowlett, Texas. Hillcrest MHC sits on 5.84 acres in an “enterprise zone” which encourages more commercial development. Because of this, existing housing is much more valuable, as it will provide housing for people who work in the new developments. The surrounding area also has ample retail, schools and churches which makes it a desirable place to live. Chiesa Estates is situated on approximately 19.81 acres. The park is in the path of growth, mainly in the single- and multi-family housing arena. There are numerous high-end, single-family housing subdivisions in and around this community. The park is within close proximity to churches, schools and shopping. The property features asphalt roads, streetlights, city water and sewer, concrete parking and many mature trees. The 10-year fixed-rate first mortgage was limited to 71 percent loan to value. The loan was non-recourse and amortized over a 30- year period. Proceeds from the first mortgage paid off the existing lender, returned equity to the borrowing entity, and paid for closing costs. The loan was funded by a national lender.

Aerospace manufacturer Bell Textron Inc. has signed a long-term, 109,187-square-foot lease for the entirety of 4151 Amon Carter Boulevard in Fort Worth. The Class A, four-story building formerly housed the American Airlines Federal Credit Union. Transwestern’s Duane Henley and Nathan Durham provide leasing services on behalf the building ownership, Capital Commercial Investments. Todd Burnette and Matt Montague with JLL represented Bell Textron in the transaction. Transwestern’s Becky Dennis leads property management for the site. Bell increased its office footprint to accommodate its growing operations throughout the DFW region. The opening of the Bell commercial business center will house approximately 600 employees. The firm established a footprint in North Texas in 1951 and in August unveiled a new, 140,000-square-foot manufacturing technology center, also in Fort Worth. Earlier this year, Transwestern executed the sale of the three-building, 1.39 million-square-foot office campus that previously served as the world headquarters for American Airlines to Austin-based Capital Commercial Investments. The lease by Bell is the first major transaction since the sale of the campus. The 40-acre site still includes 6.33 acres of undeveloped land and leasing opportunities for 4333 and 4255 Amon Carter Blvd. Situated 17 miles between the cities of Dallas and Fort Worth, 4151 Amon Carter benefits from access to the seven major freeways connecting all regions of the DFW metroplex, DFW International Airport and the Centreport submarket, where the property is located. One of 4151 Amon Carter’s most important attributes is its proximity to the Centreport Railway Station and the Trinity Railway Express commuter train. Capital Commercial Investments renovated the campus entrance lobbies, built out model suites and common areas and upgraded existing lighting to enhance the tenant experience. The buildings feature irregular dodecagon-shaped floorplates with four wings of office space affording an unrivaled 12 sides of glass windows. Additionally, the property has an underground pedestrian tunnel connecting all three buildings. “The Mid-Cities submarkets have maintained very low vacancy rates of 6.3 percent before American Airlines vacated the campus last year,” said Transwestern research manager Andrew Matheny. “A central location allows tenants to draw from a labor pool of over 1.1 million educated workers that live anywhere from the Dallas urban core to affluent Tarrant County suburbs like Grapevine and Westlake.” According to Transwestern’s Third-Quarter Office Market Report, employment in office-using industries is now flat year over year, after continued hiring in professional services and finance has netted out remaining declines in administrative services and information.

Quadrant Investment Properties and Stream Realty Partners announced the launch of its flex office strategy, which will provide fully furnished and internet-enabled office suites on a short-term basis. The program is being piloted at the boutique St. Paul Place, located in the Dallas Arts District. “Since the COVID lockdown last March, we have seen increasing demand for flexible leases outside of coworking space,” said Chad Cook, founder of Quadrant Investments. “These tenants are looking for move-in ready office space on a shorter-term basis while still desiring their own controlled office environment. We are not changing the traditional real estate leasing model, but rather enhancing it by providing another option for prospective tenants.” The flexible leasing strategy enables short-term leases of six to 12 months of fully furnished modern office that includes internet, private conference room and kitchenette and tenants have full access to building amenities including outdoor lounge, community space, coffee, additional conferencing options and on-site food services. Stream Realty, a partner in the building, will continue to lead the leasing strategy at St. Paul Place. “We are excited to get this program into the market as the boutique nature of St. Paul Place provides a unique opportunity to address the demand for shorter term lease options while still providing a class A experience,” said Rhett Miller, vice president of Stream’s Dallas office. The program was developed in part to cater to companies that are uncertain about their long-term office needs or behind in their office search due to the current environment. The suites available at St. Paul Place range in size from 2,500 to 14,000 square feet with many offering elevator lobby exposure. The marketing of the flex program is being managed through the St. Paul Place website where prospective tenants can view spaces, book tours and find transparent pricing to allow for easy decision-making. “This is the next step in our strategy of making flexibility a central operating principal for every building we own,” said Cook. “Over the last year we have re-tooled our technology operations to make it easier for us to onboard, service, and support our customers in a timely manner. That operational foundation gives us the freedom to focus on this business strategy without worrying about the operational complexities.”