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Tuesday, October 20, 2020
Real Estate Real Deals: DFW commercial real estate on upswing

Real Deals: DFW commercial real estate on upswing

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

The Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm. Report: DFW commercial real estate on upswing Ongoing economic expansion and job growth continue to fuel commercial real estate growth throughout Dallas-Fort Worth, according to CBRE Group Inc. With a steady influx of companies, Texas represents about 30 percent of the nation’s payroll job growth in the past decade, according to Sara Rutledge, CBRE director of research and analysis for Texas, who shared her perspective at the real estate firm’s recent 2015 market forecast in Dallas. According to Rutledge and other CBRE representatives who spoke at the event, the Dallas-Fort Worth region will see a strong supply of new development, positive leasing demand and strong capital markets activity for the foreseeable future. “Dallas-Fort Worth saw the highest number of office-using companies expanding and/or relocating in Texas between 2010 and Q2 2014, totaling 106 companies taking 12.5 million square feet,” Rutledge said. Other predictions from her presentation included: • The combination of strong current occupancy and healthy demand is expected to support rising rental growth across all Dallas-Fort Worth property types. • Demand for office and retail space is expected to accelerate, while tight availability could moderate industrial demand until new construction delivers; and demand for multifamily housing may also moderate as its recovery matures. • Local cap rates should be somewhat insulated from a potential rise in interest rates, thanks to the positive outlook for fundamentals. CBRE Group Inc., a commercial real estate services and investment firm, serves real estate owners, investors and occupiers through about 350 offices worldwide. More information is available at www.cbre.com. FITNESS CENTER ADDS DALLAS LOCATION NexGen Fitness Personal Training has subleased about 1,871 square feet of retail space in the Preston and Royal Shopping Center at 10759 Preston Road in Dallas. The lease marks its fifth in Dallas-Fort Worth, with others in Plano, Southlake and Frisco. Services include private personal training, nutrition and cardio programs. Representing the tenant in the transaction was Richard Davis of Ebby Halliday, with Rebecca Harrell of Henry S. Miller Brokerage representing the sub-landlord, CityDoc Urgent Care.

VERACITY BUYS PLANO OFFICE SPACE Veracity Inc. has purchased a 1,962-square-foot office condo space in the Willow Bend Professional Office Complex, 5204 Village Creek in Plano. Veracity purchased the building with plans to relocate from Richardson to Plano. It plans to remodel the space and open for business by the first quarter of 2015. The seller, POMS, GO office of Dr. Ramsey Fanous, was represented by Rebecca Harrell of Henry S. Miller Brokerage. The buyer, AMWV LLC, was represented by Blaine Cook of Belclaire Real Estate. SALES IITE LLC has purchased 2.05 acres at 2401 W. University Drive in Fort Worth from Kirk V. Engert et ux Veralyn E. The buyer was represented by Jack Huff and Kyle Poulson of Transwestern, and Kirk Kelly of Transwestern representing the seller. 1120 Summit LLC has purchased 7,460 square feet at 1120 Summit Ave. in Fort Worth from EECU. Kirk Kelly of Transwestern represented the seller. 2SP Partners LLC has purchased 68.83 acres at 1100 Everman Parkway in Fort Worth from Weyerhaeuser NR Co. Jeff Givens, Jack Huff, Kyle Poulson and Tracy Georges of Transwestern represented the buyer. Saada Brothers Development Corp. has purchased 1.58 acres at 137 McPherson St. in Fort Worth from Charter Ventures 1 LP. Grant Huff, Jack Huff and Kyle Poulson of Transwestern represented the buyer. Pool Development LLC has purchased 5,025 square feet of industrial space at 6500 Airport Freeway in Haltom City from Acme Brick Co. Sarah LanCarte of Transwestern represented the seller. Chaos Management Inc. has purchased .21 acres of land at 928 and 930 W. Weatherford St. in Fort Worth from Robert Stites. Kirk Kelly of Transwestern represented the buyer. Avera Development LLC has purchased 18.82 acres at Texas 161 and January Lane in Grand Prairie from trustees Durward Moore, Lauren Butler, C.M. Edwards and David P. O’Connor. Joe Rudd of Transwestern represented the seller. Hong Tim Rajavong and Keo James Thammavong have purchased 8,000 square feet of industrial space on 5 acres at 2555 Blue Mound Road West in Haslet from B&C Wyatt Properties LP. Todd Hawpe and Sarah LanCarte of Transwestern negotiated the transaction. Guardian Force Security Service Inc. has purchased 5,862 square feet at 8605 Airport Freeway in North Richland Hills from Herman Smith & Co. Ltd. Jeff Givens and Tracy Georges of Transwestern represented the seller. North American Carriers Properties LLC has purchased an office-warehouse space on 4.5 acres at 1732 E. Hicks Road in Fort Worth from Hong Rajavong. Sarah LanCarte and Todd Hawpe of Transwestern represented the seller. Kevin Archer and Max Schwartzstein of Providential Realty Partners represented the buyer. Avalon Medical Park Partners Ltd. has sold two medical office buildings in Granbury to an investment group. Building I, encompassing 20,682 square feet, is at 805 Hill Blvd., and Building II has 12,806 square feet at 1200 Crawford Court. Jim Sager of Transwestern represented the seller. Chavez Brothers Inc. has purchased 13,065 square feet for an undisclosed price at 8412 Davis Blvd. in North Richland Hills, according to Xceligent Inc. The seller, CSFB 2004-C3 North Richland Hills Retail LLC, was represented in the transaction by Larry Jordan of Transwestern-Dallas.

LEASES Sergio Carreles has leased 3,021 square feet of office space at 4015-19 Rufe Snow Drive in North Richland Hills from James and Mary Lou Brown. Sarah LanCarte of Transwestern represented the landlord. Several tenants have extended their 3,375-square-foot industrial space leases in the Mark IV Truck Center at 5309 and 5317 Superior Parkway in Fort Worth. The tenants were Evans Fleet Service, Diesel Works Inc., Shred Supply and Imperial Vending Service LLC. Representing the landlord were Todd Hawpe, Jeff Givens and Tracy Georges of Transwestern. Phillips Equity Capital has extended its industrial lease, with JIP Roofing signing a new industrial lease with Site Services Group in Hart Business Center, 6326 and 6316 Hart St. in Fort Worth. Representing the landlord were Todd Hawpe and Davy Wright of Transwestern. My Xuan Tran and Minh Huynh have signed a lease for 1,977 square feet in The Pines of Flower Mound at 1101 Flower Mound Road from Rosebriar Flower Mound LP. Frank Jester of Transwestern represented the tenant. Education Career Alternatives Program Ltd. has renewed its lease for 3,000 square feet of office space at 7166 Baker Blvd. from Skyco Investments LLP. Frank Jester of Transwestern represented the landlord. Herzog Technologies Inc. has extended its lease for 22,009 square feet at 8216 Northeast Parkway in North Richland Hills from LNR Partners LLC. Jeff Givens and Tracy Georges of Transwestern represented the landlord. GF Freight has leased 9,992 square feet at DFW Airfreight Center, 1240 Texan Trail in Grapevine, according to Xceligent Inc. Representing the landlord were Phillip Rosenfeld and Matt Thompson of Colliers International-Dallas. WR Howell LLC has leased 9,600 square feet at 8910-8936 Oak Grove Road in Fort Worth, according to Xceligent Inc. The tenant was represented by Mica Puryear of Angmar Realty. Representing the landlord was Ed Runyon of WFR Properties. Fresh Pack Produce has leased 45,412 square feet at Sprouts Distribution Center, 1125 Isuzu Parkway in Grand Prairie, according to Xceligent Inc. The tenant was represented by David Sours of CBRE-Dallas. Representing the landlord were Tom Smolik and Kevin Mackey of TIG Real Estate Services-Dallas. Prestosim Inc. has leased 30,000 square feet at Heritage Business Park II, 1000 Nolen Drive in Grapevine, according to Xceligent Inc. The tenant was represented by Art Leichner and Andrew Crites of Jackson & Cooksey. The landlord was represented by Michael Spain of Bradford Commercial Real Estate Services-GSW Office. Mesa Springs LLC has leased 8,083 square feet at 6421 Camp Bowie Blvd. in Fort Worth, according to Xceligent Inc. The tenant was represented by Pat McDowell of Jones Lang LaSalle-Dallas. Representing the landlord were Michael Berkowitz and Bill Myers of Colonial Commercial Real Estate LLC. Answers Etc. has leased 6,571 square feet at Northstar II, 8713 Airport Freeway in North Richland Hills, according to Xceligent Inc. Representing the landlord were Jeffrey Day and Zac Thomas of Centra Partners LLC-Fort Worth. The Missing Peace LLC has leased 2,000 square feet at Keller Professional Office Building, 816 Keller Parkway in Keller, according to Xceligent Inc. The tenant was represented by Dawn Gazaway-Potthoff of Coldwell Banker Commercial NRT. The landlord was represented by Rachel Williams of Office Equity Solutions. The Big Red Fern has leased 1,217 square feet at Timber Creek Shopping Center, 943-999 Winscott Road in Benbrook, according to Xceligent Inc. Representing the landlord was John Jones of The Newberry Company Inc. Kumon Math and Reading has leased 1,457 square feet at Park Place, 2100-2150 W. Northwest Highway in Grapevine, according to Xceligent Inc. Representing the landlord were Matt Luedtke and Gretchen Miller of The Weitzman Group-DFW. Vanity Room Beauty Salon has leased 1,296 square feet at Arthouse Keller, 251 Town Center Lane in Keller, according to Xceligent Inc. The tenant was represented by Dana Chase of Keller Williams. Representing the landlord were Chris Flesner and Sam Littlejohn of Retail Solutions-Dallas. Vila Brazil Steakhouse has leased 7,912 square feet at 2009 E. Copeland Road in Arlington, according to Xceligent Inc. The tenant and the landlord were represented by Thurston Will of UCR Retail Advisors-DFW.

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