Cushman & Wakefield has been engaged by the town of Addison, Texas to solicit proposals for a master developer for an estimated 18-acre high-density, transit-oriented development opportunity within the nationally acclaimed Addison Circle urban district. Cushman & Wakefield’s engagement is the next step in the town’s efforts to maximize the benefits of the Dallas Area Rapid Transit (DART) Silver Line/Cotton Belt Corridor by creating a walkable, transit-oriented, mixed-use development adjacent to the future rail station in Addison, which could rival the development value of North Texas’ premiere regional destinations. Chris Harden, Maureen Kelly Cooper, Ryan Duffie and Michael Thomas of Cushman & Wakefield’s Dallas office will lead marketing efforts and provide brokerage and advisory services on behalf of the town of Addison. The team was chosen based on their notable experience representing public agencies locally and throughout Texas, including recently representing DART on the 11-acre Mockingbird Station East mixed-use, transit-oriented development and CapMetro in Austin on the Plaza Saltillo mixed-use, transit-oriented development Both projects are currently underway and represent nearly a billion dollars of development value around the rail stations. The Addison and Cushman & Wakefield team will collaborate with DART on the station-area build-out to effectuate similar type density within a walkable, mixed-use environment. “We’re pleased to have been selected by Addison to find a highly-qualified, forward-thinking mixed-use master developer who can build out the site to its full potential,” said Harden. “The unparalleled central location, access to transit, major employment, and proximity to high-traffic areas like Belt Line Road, a nationally-known hotspot for restaurants, and the exceptional quality of life the town of Addison affords make this a prime investment opportunity.” Addison is an affluent suburb located nearly equidistant from Dallas and Frisco with direct access to the Dallas North Tollway with its own executive airport. The future development’s location sits just south of Addison Circle, an award-winning development and one of original mixed-use developments in the country that set the standard for the “New Urbanism” movement—a planning and development concept that centers on walkability, access to residential and retail properties, and public spaces. When finished, the new development will be connected to a broader, 300-acre walkable urban district. “This future development will become an extension of Addison Circle and solidify its presence as a major regional destination, based not only on location, but in its design in that it will prioritize the experience of the people living, working, and visiting the community,” said Cooper. “We’re looking forward to working with Addison’s leadership and the development community to bring the Town’s vision to life and building on the legacy of the highly successful Addison Circle development.” The future Silver Line Rail Station in Addison will be part of the 26-mile Cotton Belt Corridor that extends between Dallas/Fort Worth International Airport and CityLine / Downtown Plano, providing access to major employment and attractions in the area. Addison envisions the new development at the future rail station will be an architecturally significant, world-class, regional destination consisting of high-density residential, creative and corporate office, boutique hotels, a grocery store, restaurants, and service-oriented retail within a well-designed, walkable framework. The new development will be a catalyst to a much larger vision for the area. The transit station is expected to be completed and operational by the end 2022 or the first quarter of 2023, with ground-breaking for the future development occurring within the same timeline. “We look forward to working with the Cushman & Wakefield team on this significant Addison transit-oriented endeavor,” said Addison Mayor Joe Chow. “We believe that their experience working on similar projects will help us find the right developer for this high-profile project that straddles two vital Addison landmarks: the Addison Circle District and DART’s Silver Line.”

Almost 40-story tower would be the first phase of 18-acre mixed-use district. Developers are showing off plans for a new skyscraper proposed on downtown Dallas’ south side. Dallas-based Hoque Global and Lanoha Real Estate of Omaha are planning the Newpark mixed-use tower to be built on Canton Street near city hall. The almost 40-story high-rise would contain a combination of office, retail, hotel and residential space in a rapier-thin tower. The lower levels of the building would have retail and lobby areas with parking underground. The building was designed by Merriman Anderson Architects and Pickard Chilton. Moss Construction has been selected as the general contractor. The developers hope to break ground on the project in 2021. The proposed tower project is planned to include 225,000 square feet of offices, a 245-room hotel, 268 apartments and ground-level retail. “I have been working with the city behind the scene to create something different,” said Hoque Global CEO Mike Hoque. “It’s a transformative project “How to crate a project a project that will change south Dallas forever.” The high-rise would be the first phase of a 20-acre district of new buildings along Canton and Cadiz streets on the south side of downtown. The Newpark Dallas district that includes the new skyscraper is planned to include more than a million square feet of office space, 200,000 square feet of urban retail space, thousands of residential units and a four-star hotel. The so called Newpark “Smart District” is also envisioned with a 1 million-square-foot educational campus. Click to read more at www.merriman-maa.com.

The new Silver Line commuter rail project that DART is building from DFW International Airport to Plano is giving developers new opportunities. The Town of Addison is seeking a “master developer” to build on an 18-acre site surrounding its planned Silver Line – formerly Cotton Belt – rail station. The city has hired a commercial property firm, Cushman & Wakefield, to solicit development proposals for the property which is just west of the Dallas North Tollway near the Addison Circle mixed-use development. Addison officials are hoping that the property will be used for a transit-oriented development that could be valued at a half-billion dollars. “We’re pleased to have been selected by Addison to find a highly-qualified, forward-thinking mixed-use master developer who can build out the site to its full potential,” Cushman & Wakefield’s Chris Harden said in a statement. “The unparalleled central location, access to transit, major employment, and proximity to high-traffic areas like Belt Line Road, a nationally-known hotspot for restaurants, and the exceptional quality of life the Town of Addison affords to make this a prime investment opportunity.” Click to read more at www.masstransitmag.com.

The City of Garland, Texas and GroundFloor Development have partnered to realize a $30 million commercial redevelopment project for the west side of downtown. Over the past two years, both parties have been actively working on a reinvestment project to be constructed on the northwest corner of South Garland Avenue and West Avenue B. Representing the first phase of what is intended to be a much larger mixed-use development, this sizeable anchor investment will launch the transformation of the entire block into a modern residential, retail and services hub in a part of downtown that has thus far struggled to realize its full redevelopment potential. In total, the approximately four-acre site is currently home to Chase Bank, a vacant former Wyatt Cafeteria, Commonwealth Land Title Company and a few other small businesses. Phase I will consist of demolishing the 11,000-square-foot former cafeteria building and replacing it with much denser new construction in the form of The Draper, a three-story, 155-unit residential complex. As perks for future residents, the new apartments will include a community-oriented amenity center, an outdoor pool, as well as “tuck-under” garages. Looking to Phase II of the project, plans call for the existing five-story, 1960s-era Chase Bank building to be fully renovated for new tenants, with Chase Bank remaining as the primary retail services anchor. Upon completion, the center will be a modern, mixed-use housing development. “We have big plans for The Draper, and we’re envisioning a renewal of Garland’s West downtown commercial activity while catalyzing future growth,” said Mark Drumm, a partner with GroundFloor. “Partnering with the city, we hope to add another successful modern housing development to our portfolio in Texas.” The Draper will be a community-oriented living space geared towards professionals who are seeking a more urban living lifestyle in a centralized community location. Residents will be walking distance away from various shops, restaurants and entertainment venues on the Downtown Garland Square. They will also be close to the Downtown Garland DART light rail station, where residents will have access to the greater DFW Metroplex. “After many months of hard work, we are extremely excited to see The Draper finally come together and look to provide the west side of Downtown Garland with a much-needed development catalyst project. We’re happy to support GroundFloor with this first phase, especially as we seek to further focus our efforts on redevelopment projects in the city’s historic downtown core,” said David Gwin, director of Garland’s Economic Development Department. Major redevelopment projects have been on the city’s radar for a while, as Garland continues to mature and is now largely built out particularly in the central core of the community. Recent residential redevelopment in downtown include the City Square Lofts off of Avenue B and Glenbrook in the former Bank of America building. This project resulted in the entirely repurposed, four-story office building into the now 126-unit apartment complex, while increasing the site’s real estate value from $460,000 to $7 million.

Bradford Commercial Real Estate Services recently closed three deals in the Dallas-Fort Worth area. The transactions included one sale and two leases. Acting on a lender’s behalf, Bradford sold a 10,000-square-foot retail building in east Fort Worth to a franchisee of Camp Bow Wow, a national chain of dog day care, boarding and grooming services. The foreclosed property is located at 1751 Eastchase Parkway. Vacant at sale time, the single-tenant retail building formerly housed a liquor store. The Los Angeles-based seller, Pacific Premier Bank, was represented by Bradford’s Richmond Collinsworth, first vice president, and Leigh Richter, executive vice president. Dawn Sumrall of Keller Williams Arlington represented the buyer. “We did a lot of work on the front end with the city’s planning and zoning department to ensure the use would be permitted,” Collinsworth said. The franchisee is a local couple who jumped into renovating the building immediately after the closing. Camp Bow Wow East, slated to open soon, will be the third franchised location in Greater Fort Worth for the chain, founded in 2000 in Colorado. The 1.11-acre site boasts 225 feet of frontage on Eastchase Parkway, a popular local artery connecting west Arlington and Interstate 30. Each day, nearly 30,000 vehicles pass the property. The building is adjacent to Wells Fargo Bank and CubeSmart Self Storage facility and on the doorstep of the Target-anchored Eastchase Shopping Center. “This is a highly visible location with high traffic counts,” Collinsworth said. Elsewhere, Ship It AOG LLC has renewed 14,000 square feet of flex space at 4309 Lindbergh Drive in Addison, Texas. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Susan Singer, also an executive vice president, represented the landlord, 4301-21 Lindberg Ltd., in the direct deal. Kidz Therapy Zone has renewed 3,197 square feet of office space in the Office Campus at Allen Building 2, 1101 Central Expressway S., Allen, Texas. Singer and Jared Laake, vice president of Bradford Commercial Real Estate Services, represented the landlord, 1101 SCE LLC. Kent Smith of NAI Robert Lynn represented the tenant.