Newmark completes sale of three-building, newly constructed industrial park in Mansfield

Posted on by Mia Goulart

Newmark has completed the sale of Mansfield Urban Industrial Park, a three-building industrial property totaling 267,622 square feet in Mansfield, Texas.

Newmark Capital Markets Vice Chairmen Dustin Volz and Stephen Bailey, Senior Managing Director Dom Espinosa and Managing Director Zach Riebe represented the seller, Longbow Interests, a Dallas-based commercial real estate firm that specializes in developing shallow bay industrial buildings. The buyer was High Street Logistics Properties.

Located at 1960-1962 Heritage Road, Mansfield Urban was 89% leased at the time of sale with a 4.6-year weighted average lease term (WALT). Delivered in summer 2022, the property features Class A amenities, including front/rear-load design, 18- to 28-foot clear heights, modern truck courts, ESFR sprinkler systems, speculative office space and steel deck roofing.

Mansfield Urban is centrally located within the DFW Metroplex and offers convenient access to I-20, US-287 and TX-360. The property benefits from DFW’s ongoing population growth and robust employment growth, particularly among industrial-using jobs.

According to Newmark Research, the Dallas industrial market realized 5.4 million square feet of positive absorption in the second quarter of 2023, bringing year-to-date totals to 15.1 million square feet. Following a yearly supply outpacing demand for the second consecutive quarter, as of the end of the second quarter of 2023, vacancy increased by 160 basis points year over year to 7.3%.

M Financial Group signs lease at The QUAD development in Uptown Dallas

Posted on by Mia Goulart

A major financial services firm headquartered in Portland, Oregon, has agreed to open its first Dallas office in Stream Realty Partners’ The QUAD, located at 2699 Howell Street.

M Financial Group, a financial services distribution company that services a network of 130-plus independent Member Firms located across the nation, recently signed a lease for approximately 52,000 square feet in the 12-story office building under construction in the heart of Uptown Dallas.

M Financial has been headquartered in Portland since its incorporation in 1978. The expansion to Dallas represents the company’s first foothold outside of the Portland area.

Stream Senior Vice President Ryan Evanich and Vice President Marissa Parkin represented Stream, the owner of The QUAD, in the transaction. Cushman & Wakefield’s Dean Collins, Mark Collins and Doug Deurwaarder represented M Financial.

Stream, a national commercial real estate firm offering an integrated platform of services, is developing the 345,425-square-foot office building and surrounding 18,500-square-foot retail area heralded as the dawning of “A Different Dallas.” The QUAD is expected to open in March 2024.

Executive Managing Director & Partner of Development Ramsey March, Director of Development Brad Dornak, Senior Director of Design & Construction Jerry Mays and Director of Design & Construction Blake Bell led Stream’s development efforts for The QUAD project.

M Financial is the third office tenant to sign a lease in The QUAD. Earlier this year, Revantage, a Blackstone Real Estate portfolio company, agreed to take 32,000 square feet. Chicago Title, the largest title insurer and provider of real-estate related products, was the first office tenant to commit to the project, agreeing to occupy 21,000 square feet. Additionally, Two Hands, a community-focused eatery based in Australian café culture, was the first retail tenant to come on board. The eatery is scheduled to open in the Q1 2024. Stream will announce the remainder of the restaurant lineup later this fall.

The QUAD will set a new standard in Dallas with an integrated “smart” building end-user interface. Pathogen-reducing technologies such as hospital-grade air filtration and outside air circulation on office floors are 50% higher than industry standards. Tenants such as M Financial will appreciate the tower’s full-service fitness studio, top-floor outdoor terrace with expansive views, a club lounge and conference center, an acre of outdoor space, a bike valet, and dedicated underground parking. The building is also steps away from popular Uptown restaurants, hotels, entertainment venues, and multifamily complexes.

Chad Petro promoted to President / Chief Operating Officer at Heldenfels Enterprises Inc.

Posted on by Jordan Jensen

Heldenfels Enterprises In. has announced the promotion of Chad Petro to President and COO. Petro first joined the company in 2017 as Director of Pre-Construction Services and was promoted to Executive Vice President and General Manager in October 2019. Earlier in his tenure with HEI, he served as General Manager of HEI’s Corpus Christi Plant.

HEI is a leading manufacturer of precast/prestressed concrete structures serving the highway, commercial, marine/industrial and sports facility markets.

Cody Bailey hired at ARCO Design/Build

Posted on by Jordan Jensen

ARCO Design/Build Houston is thrilled to introduce Cody Bailey as our newest Architectural Designer. Joining us with 4.5 years of experience, Cody is responsible for designing construction projects, as well as creating and coordinating design documents for construction purposes. Cody holds a Master of Architecture from the European University of Valencia and a Bachelor of Science in Architectural Studies from the University of Illinois at Urbana-Champaign.

Edward Hymes hired at Eagle Point Lending

Posted on by Jordan Jensen

Houston-based Eagle Point Lending has named Edward Hymes as Chief Executive Officer and Partner.

Mr. Hymes brings more than 30 years of leadership experience to Eagle Point Lending, most recently serving as President and Chief Operating Officer of Planet Fitness and President and Chief Executive Officer of Jiffy Lube International.

Mr. Hymes’ history of operational excellence, transaction execution and relationship building will guide Eagle Point Lending on a path of significant growth.

Matt Schrodel promoted to Senior Vice President, Business Unit Leader at McCarthy Building Companies, Inc.

Posted on by Jordan Jensen

Matt Schrodel was recently promoted to senior vice president, business unit leader for Mcarthy’s Dallas business unit. Schrodel is responsible for integrating McCarthy’s various departments, including operations, estimating, scheduling, accounting, safety, quality control, management information systems and contracts. Schrodel started with McCarthy as an intern in 2009 and has worked on projects across a variety of market sectors including healthcare, education, entertainment, and aviation.