JLL strengthens tenant rep team with strategic new hire in Dallas

Jason Dodson has joined the firm’s tenant representation team in Dallas as senior vice president.

In his new role at JLL, Dodson will specialize in office tenant representation, while also servicing clients across a range of asset classes. Dodson will join the Dallas tenant representation team led by Bret Hefton and Torrey Littlejohn.

Prior to joining JLL, Dodson served as senior director at Cushman and Wakefield, where he spent more than six years providing tenant representation services and advising corporate clients with local and multi-market site selection, acquisitions, dispositions and lease and purchase negotiations.

Dodson is active in the Dallas community, volunteering at The Stewpot, Habitat for Humanity, and Reading Partners.

Dodson earned a bachelor’s degree in business administration with a concentration in business law from Loyola Marymount University.

Big Sky secures $190 million financing for 10 healthcare properties across four states

JLL Capital Markets announced today that it has arranged approximately $190 million acquisition financing for 10 healthcare properties totaling 857,779 square feet. 

JLL worked on behalf of the borrower, Big Sky Medical Real Estate, in securing the five-year, floating-rate loan from a bank syndication led by Capital One Healthcare.

The properties, which are collectively 87% occupied, serve a wide range of healthcare uses, including outpatient medical office buildings, ambulatory surgery centers, diagnostic imaging centers and more. The portfolio includes:

  • Pyramids North, 9201 North Central Expressway, Dallas, Texas
  • Pyramids South, 9101 North Central Expressway, Dallas, Texas
  • Providence Park, 2501 Earl Rudder Freeway, College Station, Texas
  • Greenpark MOB, 7515 Main St., Houston, Texas
  • Peninsula Orthopedic Associates, 1675 Woodbrooke Dr., Salisbury, Maryland
  • Tidal Health Cardiology, 400 Eastern Shore Dr., Salisbury, Maryland
  • Pelican Professional Center, 42388 Pelican Professional Park, Hammond, Louisiana
  • Texas A&M Health Science Center, 8441 Highway 47 West, College Station, Texas
  • Peak Surgical Center, 610 North Coit Road, Richardson, Texas
  • Valley Ortho & River Surgical Institute, 609 East Orangeburg Avenue, Modesto, California

JLL’s 2022 Healthcare and Medical Office Perspective highlights that patients are moving to sunbelt states and retirement markets such as Texas, Louisiana and California at exponential rates creating more demand for medical office buildings. As a result, medical office occupancy has ticked upwards as demand intensifies in a moderate construction environment which has gradually increased rents for the 11th quarter in a row.

The JLL Capital Markets team representing the borrower was led by Managing Directors Timothy Joyce and John Chun and Director Anthony Sardo.

CanTex sells shallow bay industrial portfolio in East Dallas

JLL Capital Markets announced today that it has closed the sale of a five-property Class B shallow bay portfolio totaling 689,497 square feet in East Dallas, Texas.

JLL represented the seller, CanTex Capital, in the sale.

“We are proud to have completed this sale and outperformed investment expectations for our partners. We look forward to continuing to aggressively acquire, redevelop and reposition industrial assets throughout the Dallas/Fort Worth market,” said Romit Cheema, CEO of CanTex Capital.

The portfolio offers a mix of single- and multi-tenant warehouses ranging in suite sizes from 19,000 square feet to 184,000 square feet. Currently, the portfolio is 100% occupied by six tenants across a wide range of industries, including ADCO Industries, Hill & Smith, Inc. and ProLift Rigging Company. The buildings offer varying loading types, 18- 30-foot clear heights, up to 34 dock-high doors and ample parking.

The properties are located at:

  • 11221 Pagemill Road, Dallas
  • 11333 Pagemill Road, Dallas
  • 2917 Oakland St., Garland
  • 1515 Big Town Blvd., Mesquite
  • 3914-3920 U.S. Hwy 80, Mesquite

The properties are positioned on a total of 47.40 acres at infill locations with significant barriers to entry and immediate connectivity to Dallas-Fort Worth’s primary commercial and residential hubs, transportation arteries and major infrastructure. Additionally, shallow bay product consistently outperforms bulk industrial in the Dallas-Fort Worth metroplex, with average occupancy in the mid-to-high 90s and 6.4% average annual rent growth.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Stephen Bailey and Dustin Volz, Directors Dom Espinosa and Zach Riebe and Analyst Pauli Kerr.

Lake Washington Partners acquires industrial property in Dallas

JLL Capital Markets has closed the sale of Tradepoint 20/45, a newly-completed 418,000-square-foot industrial building in Dallas.

JLL represented the buyer, Lake Washington Partners, in the sale from Blumenfeld Development Group and Declaration Partners.

Tradepoint 20/45, which was completed in early 2022, offers 36-foot clear heights, 60-foot deep staging bays, 78 dock doors, two ramps, 124 parking spaces and 107 trailed parks.

Located at 4831 Cleveland Road Tradepoint 20/45 is positioned 13 miles from Downtown Dallas, 18 miles from Dallas Love Field Airport and 33 miles from Dallas/Fort Worth International Airport. The property has easy access to the Texas Triangle, the area between Dallas-Fort Worth, Houston and San Antonio/Austin. This allows future tenants to reach 25 million residents within a five-hour drive.

The JLL Capital Markets Investment Sales Advisory team representing the buyer was led by Senior Managing Directors Dustin Volz and Stephen Bailey, Executive Managing Director Adam Citron, and Directors Dom Espinosa and Zach Riebe.

Retail asset on the San Antonio River Walk trades to Fifth Corner

JLL Capital Markets has closed the sale of South Bank, a 46,704-square-foot, high-performing retail asset located on the world-renowned San Antonio River Walk, the top tourism attraction in Texas.

JLL marketed the property on behalf of the seller, and Fifth Corner acquired the asset. Fifth Corner’s predecessor, AMREIT, formerly owned this property from 2005 to 2015.

This trade is significant as only one River Walk retail asset transaction has occurred over the last five years, and only six individual retail assets have traded since 2005.

Featuring a strong mix of food and beverage and local and national retailers, the property caters to the over 11 million visitors to the River Walk annually.  South Bank generates total commerce of over $22 million, the center is 100% occupied and boasts an average tenant tenure of 20.1 years. Original tenants include Hard Rock Café, The County Line Bar-B-Q, Paesanos, Cowboy’s Alamo City Harley-Davidson, Ben & Jerry’s and Howl at the Moon. Recent additions include Merkaba, a live-music sister concept to Howl at the Moon, and Fat Tuesday, which has returned to its original South Bank location after 17 years.

Situated at 111 W Crockett St., South Bank is set within a highly coveted retail micro-market. The tenants have access to a San Antonio’s population of 2.6 million, as well as the approximately 37 million tourists that visit the city annually. Additionally, the location of the asset benefits from the 16,877 total hotel rooms within a five-mile radius. South Bank is also supported by incredibly strong fundamentals driven by high retailer demand and development restrictions established by the RIO-3 zoning that was implemented in 2002 to protect, preserve and enhance the San Antonio River.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Chris Gerard, Ryan West and Barry Brown and Associate Erin Lazarus and Megan Babovec.

Houston medical plaza earns ENERGY STAR® building certification

JLL announced that Memorial Hermann Medical Plaza was awarded the U.S. Environmental Protection Agency’s ENERGY STAR® certification for superior energy performance. Located at 6400 Fannin St., Memorial Hermann Medical Plaza is a 510,000 square-foot, Class AA medical office tower in the heart of the Texas Medical Center in Houston.

ENERGY STAR®-certified buildings are verified to perform in the top 25% of buildings nationwide, based on weather-normalized source energy use that considers occupancy, hours of operation, and other key metrics. ENERGY STAR® is the only energy efficiency certification in the United States that is based on verified energy performance.

2022 marks the first year since 2014 that medical buildings were able to be considered for the ENERGY STAR® certification. Memorial Hermann Medical Plaza earned a score of 97 indicating this building’s superior performance compared to its peers. This award adds to the property’s other accomplishments of LEED GOLD O+M v4.1 Existing Building, and Well HSR (Health and Safety Rating).

Senior General Manager Karen Tucker, LEED AP O+M, and GGP of JLL directs property management for the asset.