Bradford Team Secures Five Leases in 30 Days for Renovated Arlington Downs Tower

With a recently renovated lobby as incentive, Bradford Commercial Real Estate Services has wrapped up a leasing flurry in Arlington Downs Tower in Arlington, Texas, signing one newcomer, two expansions and three renewals in a 30-day span. The deals have locked down 17,537 square feet for the long term in the 87,411-square-foot office tower, located at 2225 E. Randol Mill Road in the Arlington Entertainment District. Bradford’s Richmond Collinsworth, first vice president, and Erik Blais, vice president, lease the project for the local landlord, Arlington Downs Tower. New to the project is Creator Age Inc., a technology development company that’s set up shop in 2,958 square feet. Sheryl Pickens of PickensRidnour LP represented the tenant, formerly Spring St. Productions. Through direct negotiations, the Bradford team has signed renewals and expansions with PDMS Design Group Inc. and Stride Staffing which now occupy 9,765 and 2,370 square feet, respectively. The tenants have expanded by 1,122 and 415 square feet, respectively. The Parks Group Inc. has renewed a 1,719-square-foot lease and Mechanical Contractors Association of Dallas Inc. has re-upped 725 square feet. “We’ve had a lot of interest since we’ve completed the lobby remodel,” Collinsworth said. “Tenants spend a large part of their time at the office so it’s critically important to be in a place that brings you joy.” The lobby sports a contemporary look with new lighting, flooring and wall coverings accented by neutral colors of black, gray and taupe. The upgrades also included modernizing the elevator cabs, a digital directory, tenants’ lounge, a conference room and glass office doors on the first floor. Blais credits the newly signed leases to the lobby remodel and a competitive rate with office projects in Arlington and surrounding markets. The six-story structure historically has been popular with companies and professionals seeking 2,500 square feet or less. “In the past two weeks, we’ve been getting calls from people who want smaller spaces and are ready to get back to the office,” Blais said. “If you need 400 sf square feet, we have it. If you need more, we have it.”

New Construction Multifamily Property Sells in Plano

Coldwell Banker Commercial represented a local investment group in the acquisition of a 24-unit multi-family property located at 1514 E 15th Street in Plano, Texas. The property, located just east of downtown Plano near the DART transit line and north of the Telecom Corridor, traded for just under $5 million. The newly constructed property consists of 16 one-bedroom units and eight two-bedroom units on a 1-acre site. The complex, The Touraine, has high-end finishes, offers 24 parking spaces and a gated entrance. “The Dallas metro area is fast-growing and there continues to be high demand for quality, affordable, residential rental units,” said Angela Harwell, CCIM who represented the buyer in the transaction. “The Touraine property offers excellent accessibility and quality construction with popular, modern finishes for tenants. For the investor, the new construction status of the property offers minimal maintenance and desirable price point in the market.”

Fort Worth FedEx Distribution Facility Sells for $8 Million

An approximately 92,450-square-foot distribution building leased to Federal Express Corporation in Fort Worth, Texas has sold for $8,110,000. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, Infinity nine of Fort Worth LLC; Cushman & Wakefield represented the buyer, a California-based investor, MH Sherman Company, in the 1031 exchange. The building sits on a 10-acre parcel and is located at 5601 Mark IV Parkway in Fort Worth. The building features 11 loading doors, expansive parking and a vehicle maintenance shop with three drive-in bays. FedEx has occupied 100 percent of the facility since completion of the build-to-suit construction in 1998. They have since extended the lease twice, the most recent in August 2018, extending their term another 10 years. The subject property is located just a half-mile from Interstate 820 at the interchange of Interstate 35W for quick access to downtown Fort Worth less than eight miles to the south. Additionally, the property is strategically located just five miles from the Fort Worth Meacham International Airport, which sees 1,800 flights per day and is undergoing an expansion, with new hangars and a renovated terminal and administration building.

KDC Signs on to Frisco Mega Development, The Fields

Dallas-based KDC has joined the development team spearheaded by Hunt Realty and Karahan Cos. on the $10 billion Fields project in Frisco, Texas. The mixed-use mega-development will include over 10,000 residences and up to 18 million square feet of commercial space. At more than 2,500 acres, Fields is the largest, contiguous land assemblage in Frisco. With significant frontage along the Dallas North Tollway, Preston Road and Highway 380, uses will include single-family and multifamily residential, office, retail, education and recreation. Other development partners include Republic Property Group, Chief Partners LP and CrossTie Capital Ltd. PGA of America is moving its headquarters to the Fields from Palm Beach County, Florida. PGA’s $500 million development will include two championship golf courses, an Omni resort and a retail village. The University of North Texas is also constructing a branch campus at the site.

Moss Awarded Contract for The Luxe at Las Colinas, Irving, Texas

Moss Construction has been awarded a contract for The Luxe at Las Colinas, a luxury senior living project located at HWY 161 and N. Belt Line Road in Irving, Texas. The project owner/developers are Story Senior LTD and MPH Partners LLC and Arrive Architecture Group designed the space. “We’re excited that The Luxe at Las Colinas has chosen us to complete this beautiful and thoughtfully designed project,” said Tom Philley, executive vice president of Moss’ Texas region. “It’s an honor to work on a project that will serve the senior community in Irving for many years.” The 149,076-square-foot project will consist of one- and two-bedroom apartments ranging from 644 to 1,112 square feet. All 140 units will have access to the clubhouse and their own private balcony. The four-story active adult community will provide amazing amenities including a resort-style pool, dog park, fitness center, library, medical clinic, wellness café, activity center, and media room. In the clubhouse, residents will further enjoy a dining room as well as private dining.

The project broke ground on Tuesday, October 6, and is expected to be completed in November 2021.

Top Developer Joins the Team for Frisco’s $10 Billion Fields Project

Dallas property firm KDC joins Hunt Realty, Karahan Cos. and the rest of the developers of the more than 2,000-acre mixed-use community.

The Frisco mega-development is being built with Hunt Realty, Karahan Cos., Republic Property Group, Chief Partners LP and CrossTie Capital Ltd. and could be valued more than $10 billion. Now Dallas-based developer KDC is joining the effort to create the huge KDC built Legacy West’s office campuses for Toyota, Liberty Mutual Insurance and JPMorgan Chase.