JLL Capital Markets closed the sale of 3601 21st Street, a 20,880-square-foot, single-tenant, net-lease medical office property in Lubbock, Texas. JLL represented the seller, a joint venture between Healthcare Property Advisors and The Innovation Institute. The buyer was Los Angeles-based RealtyMogul. The property is fully leased to Covenant Health System, the dominant healthcare provider in the region, and the largest health care institution in West Texas. Covenant Health System is a wholly-owned sub-network of Providence St. Joseph. The three-story property was completed in 1966 and most recently renovated in 2003. Situated on 1.21 acres, the building is within the 200-acre Lubbock Medical District and at the front door of the 394-bed Covenant Medical Center, the largest hospital by both bed count and revenue in the Covenant Health System network. The property is in Lubbock, which is the Southwest’s preeminent medical center between the Dallas-Fort Worth Metroplex and Phoenix. The JLL Capital Markets team representing the seller included Nick Foster, who is part of the corporate finance team; Evan Kovac, Andrew Milne, and Matt DiCesare from the national healthcare capital markets team and Michael George from the Dallas office of the corporate finance team. Additionally, John Chun, who is a member of the national healthcare capital markets team, advised from a debt and structured finance perspective. “Despite obvious challenges in the capital markets, single-tenant opportunities backed by investment-grade tenants remain a bright spot for investors looking for certainty of income,” Foster said. “This investment checked a lot of boxes and generated interest from single-tenant as well as healthcare-focused capital sources.”

Trademark Property Company, a Fort Worth-based retail and mixed-use development, investment and institutional services firm, has tapped Chuck Steelman as vice president of experience. “In order to thrive, brick-and-mortar retail must offer customers an experience that e-commerce can’t give them. This is why we are doubling down on creating experiences, partnerships and community connections,” said Terry Montesi, CEO, Trademark Property Company. “Amidst the COVID-19 pandemic, now is a time to be especially creative in how we make connections in unique, but safe, ways. With his extensive background in VIP services and event programming, Chuck will help properties across our portfolio focus on guest experience and fostering true community, virtually or in person.” In this role, Steelman will develop unique programming at Trademark’s properties across the country through events, partnerships and other programs. Special focus in the short term will be placed on utilizing technology to engage with customers through virtual experiences. He will also work closely with Trademark’s Concierge+ hospitality team and program that is currently in place at Trademark’s Galleria Dallas and Watters Creek properties. “I’ve spent my career building partnerships and finding unique ways to bring people together for special experiences—that just happen to be fashion, community and retail centric,” said Steelman. “I’m eager to bring these experiences to Trademark’s portfolio and take their experiential operating model to the next level.” Prior to joining Trademark, Steelman was with the Neiman Marcus Group in Dallas serving in several positions, including corporate special events, where he oversaw special events for 43 Neiman Marcus and Last Call stores, producing thousands of events a year. In his most recent position with Neiman Marcus, Steelman led VIP private client relations. He also previously worked in public relations and events with Neiman Marcus Willow Bend, MGM-Mirage and Parisian Inc. Steelman received a bachelor of arts degree from the University of Mobile, and he serves as district director for Fashion Group International.

Dallas Hotels, Convention Center and City Arts & Cultural Facilities to Become First in the United States to Receive GBAC STAR™ Accreditation

DALLAS, TX (May 6, 2020) – VisitDallas and the Dallas Tourism Public Improvement District (DTPID) today announced a collaborative initiative to lead the nation by becoming the first destination to receive Global Biorisk Advisory Council (GBAC) STAR™ accreditation designating Dallas hotels, the Kay Bailey Hutchison Convention Center Dallas (KBHCCD) and selected city-owned arts and cultural institutions as sanitary and safe. This initiative – administered by GBAC, a Division of ISSA, the worldwide cleaning industry association – will serve as the gold standard for facilities to implement cleaning, disinfection and infectious disease prevention protocols. “When our residents, visitors and meeting and convention attendees are able to return and enjoy our great city, we want them to have peace of mind that Dallas is doing everything we can to create the safest and healthiest environment possible,” said Craig Davis, President and CEO of VisitDallas. The DTPID is teaming up with VisitDallas to implement and fund the effort for its member hotels within the tourism public improvement district. Additionally, VisitDallas will sponsor scholarships for facilities personnel at city-owned arts and cultural institutions to enroll in the GBAC Online Fundamentals Course, which trains individuals on infection and contamination control measures for infectious disease outbreak situations such as the novel coronavirus. Click to read more at www.rednews.com.

20/20 Foresight recently hired Alex Cox as managing director of the company’s Dallas office. Cox brings more than 15 years of executive search experience in the placements of commercial real estate professionals, collaborating with mid-level to C-suite candidates primarily focused in investment, asset management, financing and capital markets roles. “20/20 Foresight was founded on our firm’s industry knowledge, experience and expertise of real estate with many of our recruitment experts having spent time working in the field,” said Bob Cavoto, founder and managing principal of 20/20 Foresight. “The addition of Alex to our Dallas office is a major coup for our growing company thanks to his considerable background in hiring for the commercial real estate industry as well as his deep Texas roots and influential network.” Cox’s distinguished career launched after he achieved his degree in accounting from Texas Tech University. His first role was with KPMG, the fastest growing Big Four accounting firm in the U.S. There, he audited several commercial real estate companies before embarking on an entrepreneurial path that led him to recruiting. Cox founded his own commercial real estate-focused recruitment firm, EASTON | Executive Recruiting, in 2009. Over the course of his career, Cox has placed more than 500 professionals, from analysts to C-level executives. He has extensive experience covering all property types, asset classes and investment structures, with a core focus in the areas of acquisitions, development, asset management and capital markets. “My career began by auditing commercial real estate companies, which organically led to an entrepreneurial career in recruiting for the industry,” Cox said. “I am excited to apply my unique skill set to 20/20 Foresight’s expanding recruiting initiatives, where the company’s proven proprietary process, industry-leading technology and dedicated and driven team are truly unparalleled.”

Stream Realty Partners recently completed five commercial real estate transactions in the Dallas-Fort Worth area. The deals—three acquisitions and two leases—concerned properties in Arlington, Dallas, Fort Worth and Richardson. Rowland Ventures, LLC purchased a 3,580-square-foot office building at 6500 W. Vickery Blvd in Fort Worth. David Corley III with LanCarte Commercial represented the buyer. Vic Meyer and Cullen Donohue with Stream Realty Partners represented the sellers, Garrett and Bernard Whitney. Arlington Investment Properties, LLC purchased a 53,586-square-foot industrial building at 1200 Gambrel Road in Arlington. James Mantzuranis with Stream Realty Partners represented the buyer. Sarah LanCarte and David Corle with LanCarte Commercial represented the seller, 109th Street Limited Partnership. LH Capital, Inc. renewed its 8,423-square-foot lease at Trammell Crow Center, 2001 Ross Avenue, in Dallas. Ramsey March, Sara Terry and Chase Lopez with Stream Realty Partners represented the landlord, J.P. Morgan Asset Management. Tim Terrell and Brandon Terrell with Stream Realty Partners represented the tenant. The University of Texas Southwestern Medical Center renewed its 48,770-square-foot lease at 3000-3030 Waterview Parkway in Richardson. Matt Wieser and Ramsey March with Stream Realty Partners represented the landlord, GI Partners. Finally, CKS Packaging, Inc. purchased two acres at 2850 Dairy Milk Lane in Dallas. Ryan Boozer and Lena Pierce with Stream Realty Partners facilitated the transaction.