Irvine, California-based LBA Realty has acquired two warehouse/distribution facilities and an office building in Coppell from affiliates of Transpacific Development Co. of Torrance, California. John Huguenard, international director, and Dustin Volz of JLL’s Capital Markets team brokered the sale.
“DFW is one of the strongest industrial markets in the country right now, and there was strong investor interest in this portfolio because of its scale, strong in-place cash flow, tenancy and location,” said Huguenard.
The portfolio totals 578,400 square feet and consists of two institutional-quality distribution properties and one office building within one mile of each other. 500 Airline Drive is a 409,600 square foot distribution warehouse, which is connected to 510 Airline Drive, a 53,600-square-foot, two-story office building, via an elevated walkway. 217 Wrangler Drive, at 115,200-square-feet, is a warehouse/production facility. The buildings are all 100 percent leased, with more than 50 percent of the in-place income from A-rated credit tenants. There is the potential to add up to 102,400 square feet of additional warehouse space to 500 Airline Drive, according to JLL.
Excellence Auto adding
Euless site
Dallas-based Biel Partners and David Little Real Estate have negotiated the sale of a former Audi dealership in Euless that will become a new location for Excellence Auto. Buyer NPR Properties LLC, Excellent Auto’s real estate arm, will lease the property on State Highway 183 to Excellence Auto. The new owner/lessee to expand its inventory and services lines.
John Bielamowicz, founder and owner of Biel Partners, and David Little with David Little Real Estate represented the seller, Baillargeon Audi Dealership, in the transaction. Daniel Miller of Rubicon Representation negotiated on behalf of the buyer.
The property at 1701 Airport Freeway includes a 34,000-square-foot display building, complete with offices and a showroom floor. Also on site are outdoor car hail shelters, and a photography studio with an automotive turntable. The asset opened in 2003, just west of the State Highway 121-SH 183 merge.
Excellence Auto Direct is a luxury pre-owned dealership that currently has operations in Addison and needed more space to accommodate expansion plans. The buyer was initially lukewarm to the property. However, “the more we dug into the beautiful facility, property size, visibility from (SH) 183, zoning and the close proximity to DFW Airport, the more the site became a no-brainer for NPR,” Miller, the buyer’s representative, said.
The new space means Excellence Auto can provide add on-site car maintenance to customers, while expanding its showroom and employee offices.
Viridian adding 55+
neighborhood
The Viridian in Arlington has announced the addition of a 55+ neighborhood for the project.
Named Viridian Elements, the 141-acre neighborhood will feature homes by David Weekley Homes, Drees Custom Homes and CalAtlantic Homes. Designs will include courtyard homes and single-family homes on a variety of lot sizes. About 500 homes are planned.
“We aspire to deliver the Viridian lifestyle to our active adults in a focused environment,” said Robert Kembel, general manager of Viridian.
A resident-only amenity center will include features such as a demonstration kitchen, fitness center, pool and game tables, and meeting facilities. A covered terrace and sun deck will overlook an infinity-edge pool, and pickle ball courts, a bocce ball court and a putting green will invite outdoor activity.
The first section comprises about 47 acres and 227 homes. Builders will receive their first home sites in August, with models expected to open in late 2018.
Viridian released hundreds of home sites during 2017 and 11 new model homes. Builders reported 287 sales last year, a 102 percent increase from the previous year.
Ten production and three custom builders offer homes priced from the $250,000s to $2 million plus in Viridian. Viridian, a project of Houston-based Johnson Development Corp., is a 2,000-acre master-planned community in Arlington.
Come on out to The Yard
The Yard is opening in Fort Worth, billed as a place for adults to play and have a beer while they do.
In the yard, patrons can grab a brew from the beer garden and play some ping pong or miniature golf. Other options are to head up to one of the multi-level balconies with views of the stage and dance to the live music. Also available are arcade games, such as Hypershoot Basketball and Lane Master Bowling.
If you want to bring a four-legged companion, The Yard has a fenced-in dog park, along with dog toys, chews and a special doggie menu available for pups of all shapes and sizes.
The Yard is another concept from One Entertainment Group, a full-service hospitality development, management and nightlife company based in Dallas. The company currently owns and operates two Fort Worth concepts – Landmark Bar & Kitchen and Texas Republic – and two Uptown Dallas concepts – Playground Bar and Theory Nightclub.
The Yard, at 18,000-square-feet, is located at 3017 Morton St., the location of the former Capital Bar. It is open Monday through Friday from 4 p.m. to 2 a.m., and Saturday and Sunday from 11 a.m. to 2 a.m.
“Run Spot, run” to another dog park
Mutts Canine Cantina is coming to the Clearfork development in the fall, described as an “outdoor oasis to socialize, play and “pawty.” Yep, it’s for dogs, and people too.
The new urban dog park will be snuggled along the Trinity River and accompanied by trees, trail access and connectivity to The Shops at Clearfork and The Kelton multi-family project.
“Clearfork is proud to welcome such a new, unique and fun outdoor recreational destination to Fort Worth and the Trinity Trails for dogs and owners alike,” said Paxton Motheral, vice president at Cassco Development Co. “The addition of Mutt’s Canine Cantina further solidifies Clearfork’s vision of bringing the best-in-class to our project.”
Dogs won’t be the only mammal welcome at the park. Mutts is a dual-concept, social dog park with a communal beer and wine garden and several HD TVs. A separate patio area features concession-style food options like chicken sandwiches, burgers, handspun milkshakes and a special “Doggie Menu”.
Mutts will have two fully-enclosed, fenced lawn spaces – one each for large and small breeds – that expand over an acre of land.
“The Uptown location has experienced great success, so we are really looking forward to bringing Fort Worth their own place to escape with their best friend,” said Kyle Noonan, co-owner of FreeRange Concepts, creator of Mutts and other concepts such as The Rustic in Dallas and San Antonio. “We created Mutts in order to give dog owners living in the city, a nice natural environment that lets you enjoy all your favorite things in one great place – good friends, delicious food and drinks, and of course, your pup.”
The dog park is accessible with a day or monthly pass, or an annual membership, which includes free Wi-Fi, Bark Rangers who provide water and pick up your mess (and your dog’s), and a dog washing area. In addition to providing a place for dogs and their owners to escape, Mutts will feature canine-centric special events, including weekly “Yappy” Hour, costume contests, holiday pictures with Santa Paws and the Easter Bunny, dog birthday “Pawties” and more.
Noonan and Josh Sepkowitz, created Mutts Canine Cantina in 2013. Mutts was one of many “first of its kind” concepts that they have created under the FreeRange Concepts umbrella. The decision was made to franchise the brand in 2016. Noonan and Sepkowitz have joined forces with Michelle Boggs and Ron Roys who will lead the franchise development efforts.
“We plan on opening one to two new corporate locations in 2018 to further prove out the concept while simultaneously marketing to franchisees,” said Boggs. “The Fort Worth location at Clearfork will be the second for Mutts and will be considered a flagship location, as a result of the many changes that ownership has implemented since its conception in 2013.”
Beauty, spa services added, upgraded at UPV
University Park Village will add one new and one upgraded beauty and spa service venue to its lineup of retailers, Simon, the shopping center’s owner, announced Tuesday, March 6.
Onyx Nail Bar will open a 3,297 square-foot nail bar this summer. Onyx will offer a variety of luxury spa services, including manicures, pedicures, waxing and threading. The salon will be located across from Pottery Barn, next to Lemongrass Salon.
Lemongrass Salon will be relocating this spring to a larger space across from Pottery Barn. The new 6,188 square-foot salon will feature a complete line of Aveda products, 17 stylist stations, 10 shampoo bowls and two facial/waxing rooms. At double the capacity of their previous location, Lemongrass Salon is planning to expand their staff and offer full services seven days a week.
“We’re thrilled to have such exciting announcements to share,” said Ronald Soucie, general manager. “We value our role in the community and are continually looking to not only enhance our visitor’s experience but also offer a wide variety of options and services.”
Send real deals to Robert Francis at rfrancis@bizpress.net