Walt Loonam joins Arlington Board of Realtors as MLS/IT Director
The Arlington Board of Realtors has announced the addition of Walt Loonam as MLS/IT Director. Loonam has 13 years of experience as a realtor and has served the organization in various roles.
Loonam has served in a wide variety of volunteer positions throughout his 13 years as a practicing realtor, including most recently on the Arlington Board of Realtors Executive Committee.
He studied electrical engineering at San Diego State University, worked at General Dynamics and on the FedEx Implementation Team.
HistoryMaker Homes announces new hires
HistoryMaker Homes recently hired two new executives — Matt Wiggins – PHOTO – as Chief Financial Officer and Bruce Pine – PHOTO – as Director of Land Acquisition.
Wiggins will oversee all financial operations of the family-owned Grapevine. Company. He was formerly a senior director of finance and accounting at Leon Capital Group. He also served in several positions with Ernst & Young. At both companies, Wiggins was involved in the real estate market.
Pine has decades-long experience in land acquisition and development, working for a number of well-known builders. Most recently, he was director of land acquisition for CB Jeni/Normandy Homes. For HistoryMaker, he will focus on the Dallas-Fort Worth market.
Ty Williams and team relaunch RJ Williams and Co. Real Estate
After a yearlong partnership in real estate firm WNC real estate brokerTy Williams has announced the relaunch of RJ Williams & Co Real Estate LLC.
Operating without interruption from their historic Near Southside office, Williams is looking forward to bringing back the traditions that put him on the map as a leader in real estate, he said in a news release.
“Running a local business has always been a basic formula, take care of your people so they can go and confidently take care of their clients. Everything begins and ends with
people, which means people are what ends up getting lost if you fixate on a growth first strategy,” Williams said in the announcement. “If there’s one thing this past year has taught us it’s how important it is to decide where you want your priorities to lie. For us, they’re service, family, and an acknowledgment of our shared history.”
More homes coming in West Fort Worth
Crow Holdings and James R. Harris Partners announced Nov. 2 the sale of 389 acres of land in West Forth Worth. Chris Harden and Ryan Duffie of Cushman and Wakefield represented Crow Holdings and James R. Harris Partners in the transaction, and LGI Homes acquired the land.
LGI Homes, the 10th largest homebuilder in the U.S. according to Builder Magazine, plans to develop a six-phase master-planned community with a total of 1,225 single-family homes. Home price points are estimated to be between $230,000 and $280,000, with the first phase available in the fourth quarter of 2021 or the first quarter of 2022.
SALES
Dalfen Industrial on Oct. 13 announced the closing of five last mile industrial buildings in major Texas markets: Mark IV Commerce Center in Fort Worth and Tri-County 5 & 7 in Schertz, near San Antonio.
Built in 2020, Mark IV Commerce Center is a newly constructed, Class A, three-building, 1,025,500 square foot industrial park located at the intersection of Interstate 35 and Interstate 820.
“Both the Fort Worth and San Antonio/Austin markets have seen tremendous population growth which is predicted to continue as more companies move to Texas,” said Kevin Caille, Market Officer at Dalfen Industrial. The assets provide the tenants prime last mile locations amidst a robust workforce and close to major thoroughfares.”
AER Manufacturing has leased 80,660 square feet of one building, and Dalfen has experienced interest to lease the remainder of the buildings in the next few months.
Fort Capital announced Nov. 10 that it closed the sale of an 18-building light industrial portfolio totaling 606,889 square feet across the Dallas-Fort Worth market. Over the past three years, Fort Capital has established itself as an aggressive purchaser of Class B industrial assets with the ability to capitalize on market and capital improvements to unlock maximum value for investors.
“We continue to be focused on acquiring Class B multi-tenant, light industrial assets in core markets across Texas,” said Chris Powers, Founder and CEO. “Texas continues to be a hot spot for industrial as proven by rental rates increasing even during a global pandemic. This asset class offers a robust tenant base across a variety of industries, and the demand continues to grow while the supply is shrinking making it an attractive investment.”
The portfolio includes a diverse range of tenants and was 95% occupied at the time of the sale. Each property is situated in an irreplaceable location with great access to the Dallas-Fort Worth Metroplex through a variety of thoroughfares including Interstate 35, Interstate 635, Interstate 20 and Interstate 30.
“Fort Capital has worked diligently over the past several years to buy well-located Class B industrial assets across Dallas-Fort Worth,” said Hunter Harrison, Vice President of Investments.
Mosher Properties L.P. purchased a 38,800 square feet industrial building at 2100 Century Circle in Irving. Jason Moser with Stream Realty Partners represented the buyer. Jerry Reis with Property Advisors represented the seller, John D. Gourley.
Marcus & Millichap (NYSE: MMI) has announced the sale of Royal Cornerstone Portfolio, a 176,645-square foot industrial portfolio located in Irving and Allen. Adam Abushagur, senior vice president investments and Sam Martin, associate, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also procured by Abushagur and Martin.
Royal Cornerstone Portfolio is located at 8600 North Royal Lane in Irving and at 1300 North Central Expressway in Allen on a combined 11.3 acres and were built in 1997 and 2000.
“We removed contingencies with no re-trades and increased non-refundable earnest money by $50,000 to ensure buyer commitment,” said Martin. “By highlighting strong property locations, below market rents, and no default tenants, we were able to manage buyer expectations during a health pandemic.”
Scott Lowe, Partner at Vision Commercial Real Estate, recently completed a sales transaction at 801 E. Loop 820 in Fort Worth with Heather Konopka at C21 Mike Bowman. The .76 acres will now be owned by CooperMaze Electric with the intended use of an electrical business. Vision Commercial represented the buyer while the owner was represented by Konopka.
Marcus & Millichap (NYSE: MMI) has announced the sale of MB2 Dental Center, a 5,342-square foot retail property in Willow Park, according to Mark R. McCoy, regional manager of the firm’s Fort Worth office. Chris Gainey, First Vice President Investments in Marcus & Millichap’s Fort Worth office, and Philip Levy, Senior Managing Director in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Gainey and Levy. MB2 Dental Center is located at 103 Willow Bend Drive and is a new construction, two-tenant retail center. The center is 100 percent occupied, and both leases are triple-net leases.
LEASES
With a recently renovated lobby as incentive, Bradford Commercial Real Estate Services has wrapped up a leasing flurry in Arlington Downs Tower, signing one newcomer, two expansions and three renewals in a 30-day spin.
The fast-paced deal making has locked down 17,537 square feet for the long term in the 87,411-square foot office tower, located at 2225 E. Randol Mill Road in the Arlington Entertainment District. Bradford’s Richmond Collinsworth, first vice president, and Erik Blais, vice president, lease the project for the local landlord, Arlington Downs Tower.
New to the project is Creator Age Inc., a technology development company that’s set up shop in 2,958 square feet. Sheryl Pickens of PickensRidnour LP represented the tenant, formerly Spring St. Productions.
Through direct negotiations, the Bradford team has signed renewals and expansions with PDMS Design Group Inc., which now occupies 9,765, and Stride Staffing, 2,370 square feet. The tenants have expanded by 1,122 square feet and 415 square feet, respectively.
The Parks Group Inc. has renewed a 1,719-square feet lease and Mechanical Contractors Association of Dallas Inc. has re-upped 725 square feet.
Blais credits the newly signed leases to the lobby remodel and a competitive rate with office projects in Arlington and surrounding markets. The six-story structure historically has been popular with companies and professionals seeking 2,500 square feet or less.
Condumex Inc. has leased 36,742 square feet of industrial space located at 900 Avenue S in Grand Prairie. Michael Stanzel, SIOR with NAI Robert Lynn represented the tenant and Robert Allen with First Industrial represented the landlord.
Productiv Inc. leased 100,000 square feet at Patriot Drive II in Coppell. Jeremy Kelly and Sarah Ozanne with Stream Realty Partners represented the landlord, JP Morgan. Ryan Boozer and Sarah Ozanne with Stream Realty Partners represented the tenant.
Intelligent Mexican Marketing renewed 24,192 square feet at Pioneer 360 Business Center in Arlington. Matt Dornak and Luke Davis with Stream Realty Partners represented the landlord, LINK Industrial. Avison Young represented the tenant.
Kedreon Cole, Market Director at Vision Commercial, recently completed lease negotiations at 1546 S. Clark Road in Duncanville, now home to Let Tia Do It, a salon and lash studio. Vision Commercial represented the landlord while the tenant was self-represented.
Kedreon Cole, Market Director at Vision Commercial, recently completed lease negotiations at 4245 E. Berry St. in Fort Worth. With 1,045 square feet, Suite 20 is now Metro by T-Mobile. Vision Commercial represented the tenant while the landlord was self-represented.
Scott Lowe, Partner at Vision Commercial recently completed lease negotiations at 905 N. Cummings Drive in Alvarado. Suite 933 will now be home to Oasis Nutrition, which will use the space primarily as a nutrition/smoothie club. The new tenant expects to open in December 2020. Vision Commercial represented the landlord, Zameen Ventures LLC, and procured the tenant.