Stream Realty Partners names new partner in Dallas

A longtime commercial real estate leader credited with growing Stream Realty Partners’ Dallas industrial leasing team by more than 100% in three years has been named a partner.

Managing Director Matt Dornak will continue to oversee day-to-day industrial activities for Stream’s Dallas-Fort Worth office alongside Managing Director and Partner Ryan Boozer. He joined Stream, a national commercial real estate firm offering an integrated platform of services, as an Analyst in 2011 and ascended over the last 12 years to associate, vice president, and managing director before being named partner.

During his tenure at Stream, Dornak has helped increase the Dallas-Fort Worth industrial portfolio by more than 30 million square feet. He is credited with building a successful South Dallas industrial leasing team from scratch and establishing relationships with countless new clients.

Dornak graduated with a Bachelor of Arts in Sociology from Dartmouth College and spent one year as a Paralegal at an Austin law firm before starting as an analyst at Stream DFW. He said he was drawn to Stream’s competitive environment and team and entrepreneurial mentality.

Stream Chief Operating Officer and Partner Blake Kendrick noted the DFW industrial group has become the largest business unit within Stream under Dornak’s leadership.

Dornak said one of his favorite quotes that he lives by and perfectly represents his time at Stream is: “When hard work becomes fun, success follows.”

GREA Dallas closes Casa San Luis, a multifamily property in Dallas

GREA, specializing in serving private to institutional multifamily real estate investors, announced the sale of Casa San Luis Apartments, a 63-unit apartment community located at 3155 Park Lane, Dallas, Texas, 75220.

Allen represented the seller, Gomel Capital and procured the buyer, a local investment company.

Despite the slowdown in multifamily sales activity in 2023, the GREA Dallas team has successfully brokered over 19 apartment communities in the North Texas area with another 19 under contract set to close in the next 60 days.

Investor sells Dallas area medical office building

Privately-owned real estate investment, development and finance company Bolour Associates, Inc. (BOLOUR) has sold a Class A medical office building in Dallas, Texas, after a 16-month hold period. It was the company’s first medical office acquisition in the DFW market.

The asset totals 7,190 square feet at 12222 Coit Road in the North Dallas submarket. It sits immediately off of U.S. Route 75, just south of I-635 and approximately one mile northeast of Medical City Dallas Hospital, an acute care hospital with more than 1,500 providers.

BOLOUR purchased the Coit Road asset in early 2022. David Zoller and Corbin Tanenbaum of Weitzman Retail Brokers represented BOLOUR in the 2022 acquisition and in the recent property disposition. The property buyer was represented by Justin Utay of NAI Robert Lynn.

HF Sinclair Corporation signs 90,609-square-foot lease for new headquarters at One Victory Park in Dallas

Cushman & Wakefield, the commercial real estate services firm, announced that HF Sinclair Corporation (HF Sinclair), a Fortune 200 energy company based in Dallas, has signed a new 90,609-square-foot headquarters office lease at One Victory Park.

Owned by Clarion Partners, the Class A office building is located at 2323 Victory Avenue in Dallas. HF Sinclair will occupy three floors in the 20-story building.

Matt Schendle, Cynthia Cowen and Carrie Halbrooks of Cushman & Wakefield represented the landlord in the lease negotiations. Phil Puckett and Harlan Davis of CBRE represented HF Sinclair.

Clarion Partners has made significant upgrades to the Class A office tower over the past few years. A 10,000-square-foot food hall on the first floor named Victory Social is underway at the property and set to deliver in Q1 2024. Operated by Hospitality Alliance, the food hall will include five stations, two bars, two patios, a private dining area and a grab-and-go/order ahead area.

Additional amenities include a newly renovated fitness center; a newly renovated 6,200-square-foot conference center including an executive board room and a commercial catering kitchen; full-service bank; 24-hour security; on-site concierge; and Fiction Coffee.

Centrally located between the Design District, Arts District, Uptown, West End and American Airlines Center, One Victory Park includes a six-story parking deck and convenient highway/tollway access, as well as an abundance of green space surrounding the property. Victory Park is also home to a W Hotel and more than 5,600 residential and condominium units.

SPI adds Uptown Dallas property to portfolio

SPI Advisory (SPI) and its 1031 partners finalized the acquisition of Ivy Urban Living (The Ivy), a 228-unit, Class B+ institutional-quality apartment community built in 1988 in the Dallas neighborhood of Uptown, just two miles north of downtown and one mile southeast of Knox-Henderson. 

Ivy Urban Living represents SPI’s 15th current property under management in the metropolitan area, totaling nearly 3,400 units. This transaction serves as the firm’s 44th acquisition in the DFW metroplex since its inception in 2014.

Bordered by three of the most highly-trafficked city thoroughfares, Haskell Avenue, Lemmon Avenue, and Peak Street, Ivy Urban Living offers its residents the unique advantage of spacious floorplans situated in close proximity to Dallas’ leading economic centers and flourishing entertainment districts at an attractive price point compared to other properties in the area. 

Matt Rader joins BBG as managing director

BBG, the nation’s largest independent commercial real estate services firm, announced the appointment of Matt Rader to managing director. Based at the firm’s Dallas office, Rader will lead and drive continued growth in BBG’s cost-segregation services.

Bringing a wealth of experience spanning more than two decades in the real estate industry, Rader has expertise in assignments involving cost segregation, purchase price allocation, due diligence, tax and tax credits.

Before joining BBG, Rader was a senior director at Kroll, a risk and financial consulting firm. Previously, he served as a managing director at CBRE and as a director at Source Advisors.