TriGate Capital, a Dallas-based real estate investment management firm, has selected Stream Realty Partners for management and leasing of Comerica Bank Tower in downtown Dallas. Located at 1717 Main Street in Dallas, Comerica Bank Tower has long served as one of the most defining pieces of the Downtown Dallas Skyline. The 60-story, 1.5-million-square-foot building is home to major tenants such as Comerica Bank, K&L Gates, Marsh USA and Fish & Richardson. “Comerica Bank Tower functions as a true landmark of downtown Dallas,” said Paul Sharp, senior vice president of TriGate Capital. “The asset offers a tremendous value opportunity that is appealing for potential tenants navigating today’s office environment. The TriGate team is confident that the building’s high-caliber tenants coupled with Stream’s leasing and management expertise will prove to be successful as we launch Comerica Bank Tower into its next phase.” With over 450,000 square feet of office space available for lease, the building presents future tenants with Class A amenities, a flourishing location and the opportunity to join the likes of some of the most notable companies in the country. Comerica Bank Tower has undergone many improvements since 2014, including recently finished lobby renovations with upgraded entrances, seating and coffee bar coming in fall 2020. In addition, tenants have access to premium on-site amenities including white tablecloth dining, a delicatessen, tenant conference center, executive lounge with wine lockers, patio bar for social hour, sundry shop, shoe repair and access to the pedestrian network system. “Stream is excited about the opportunity to represent TriGate on such an iconic asset in Downtown Dallas,” said Rhett Miller, vice president of Stream’s Dallas office. “The submarket has shown a dramatic increase in leasing demand as of late and we are confident Comerica Bank Tower provides a perfect solution for tenants desiring to be in a Class A building in an amenity-rich location. We look forward to building on our success in downtown Dallas with the successful lease-up of Comerica Bank Tower.” Miller, alongside Matt Wieser and J.J. Leonard of Stream’s Dallas division, will handle the leasing and management of Comerica Bank Tower on behalf of TriGate Capital. The building is within walking distance to some of the most prominent restaurants and retailers in the city, in addition to the entire Central Business District, Arts District, and Uptown submarket. Its central location allows for easy access to major thoroughfares including the Dallas North Tollway, US-75, I-35, and I-30, and is just a short drive from both DFW Airport and Love Field.

NAI Robert Lynn landed a sublease deal in Dallas for Veritex Community Bank, a Texas-based bank specializing in business banking, commercial loans, small business lending, treasury management and mortgages. NAI Robert Lynn executive vice president and principal, Kent Smith, represented Veritex Bank along with Dan Boyles of NAI Partners in Houston. Veritex Bank is expanding its Dallas banking operations with the newly remodeled, 26,418-square-foot space inside the high-rise office building at 12750 Merit Drive. The new office is conveniently situated near the intersection of I-635 and U.S. 75 and is about seven miles from Veritex Bank’s headquarters. “It’s a unique space that was occupied by a global wealth management firm that had remodeled within the last two to three years,” said Veritex executive vice president, Rudy Beeching. “Thanks to NAI Robert Lynn we’re moving from a traditional space to a bigger, open workplace environment with great collaborative workspaces.” The space will accommodate up to 150 of Veritex Bank’s 700-plus statewide employees. Updated amenities include a conference center, comfortable tenant lounges, a state-of-the-art fitness center and deli. The new office location is also within proximity to the Westin Dallas Park Central Hotel. “This a huge deal for the office real estate industry because we completed it during an unprecedented pandemic,” Smith said. “The deal was finalized in early April and is a long-term sublease that included tenant improvements from the building and the sublandlord. The building amenities will provide Veritex Community Bank employees a lot more to look forward to when at work. NAI Robert Lynn was thrilled to represent this well-known, highly regarded bank.” Veritex Bank will move into the space in October.

Cambridge Realty Capital Companies provided a $3,907,100 HUD Lean loan to refinance Summer Meadows, a 115-bed skilled nursing care facility located in Longview, Texas. Hymie Barber, Cambridge Realty Capital’s national originations manager, said the fully amortized, 29-year loan was arranged for the owner, a New York limited liability company, using the HUD Section 232 pursuant to Section 223(a)(7) funding program. Underwriting the transaction was Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans.

Stream Realty Partners recently completed four transactions in the Dallas/Ft. Worth metro area. AMG Technology Investment Group, LLC leased 5,410 square feet at Village at Camp Bowie, 6115 Camp Bowie Boulevard, in Fort Worth. Cullen Donohue and Vic Meyer with Stream Realty Partners represented the landlord, Seaboard Capital. Customer First Real Estate represented the tenant. BKM Sowan Horan, LLP leased 8,854 square feet at The Colonnade I, 15301 N. Dallas Parkway in Addison, Texas. J.J. Leonard and Ryan Evanich with Stream Realty Partners represented the landlord, Fortis Property Group. Cushman & Wakefield of Texas, Inc. represented the tenant. Monitpora, LLC purchased a 15,260-square-foot industrial building at 2505 Farrington Street in Dallas. Hanes Chatham with Stream Realty Partners negotiated the transaction. Pratt Corrugated Holdings, Inc. renewed its 294,952-square-foot lease at Southfield Park 35, 9209 Old Hickory Trail, in Desoto, Texas. Matt Dornak and Drew Feagin with Stream Realty Partners represented the landlord, Cabot Properties. Jones Lang LaSalle Brokerage, Inc. represented the tenant.

Marcus & Millichap brokered the sale of the Caliber Collision headquarters, a two-story, 80,038-square-foot Class A office complex in Lewisville, Texas. “This is a legacy site surrounded by other notable company headquarters in a northern Dallas/Fort Worth submarket,” said Alvin Mansour, executive managing director investments, The Mansour Group of Marcus & Millichap. “Caliber Collision, the nation’s largest and leading auto collision repair operator, is on a long-term absolute net lease. Again, we see quality, net-leased investments weathering recent turbulence in the market.” Mansour and Kevin Mansour represented the seller and procured the buyer, who completed a 1031 exchange with the sale of a multifamily property in southern California. Built in 2006 on a 5.8-acre lot and renovated by Caliber Collision in 2018, the property is less than 25 miles north of Downtown Dallas, surrounded by other major corporate headquarters such as AT&T, American Airlines, GameStop, Southwest Airlines and many more. The Music City Hall and Grapevine Mills shopping malls are close by, as are major employers Xerox, Bed Bath & Beyond, FedEx Freight, Sysco and Kellogg’s. The city of Lewisville is served by three major transportation corridors—Interstate 35E, President George Bush Turnpike, State Highway 121—and has three commuter rail stations that tie into the Dallas Area Rapid Transit system.