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Tuesday, March 2, 2021

Real Deals: Flower Mound to get new PPG distribution center

PPG announced plans June 5 for a new distribution center in Flower Mound that is slated to be the company’s largest distribution center for architectural paints and coatings in its U.S. and Canada network.

Duke Realty will construct the 635,000-square-foot bulk distribution facility at 1001 Lakeside Parkway in Duke Realty’s Lakeside Ranch development. PPG has preleased 71 percent of the building. The remaining space is available for lease.

The center is slated for completion in May and will complement Duke Realty’s existing infill industrial portfolio that lies just north of Dallas Fort Worth International Airport.

“We are excited to expand our portfolio in the Dallas Fort Worth metro area and grateful that PPG has entrusted us to deliver this facility, which will be a key component in their operations,” said Jeff Thornton, senior vice president of Duke Realty’s Texas operations. “This new building will provide exceptional highway access plus incorporate state-of-the-art, modern features that will help enhance PPG’s ability to efficiently serve their customers in the southwestern United States.”

“Both Mayor Tom Hayden and Director of Economic Development Andrea Roy have been incredibly helpful. We are truly grateful for their support and involvement,” said Thornton.

“I also would like to thank the brokerage team involved in the transaction,” said Thornton in a news release. “Trevor Ragsdale, Craig Jones and Tom McCarthy with JLL did an exceptional job, while Randy Wood with our team worked tirelessly on behalf of Duke Realty.”

PPG recently invested about $9 million to open 14 stores in the Dallas-Fort Worth area, bringing the total to nearly 40 regional PPG Paints, employing nearly 900 people across Texas, according to the release. PPG Architectural Coatings is based in Pittsburgh.

The company also supports local industry-relevant STEM training and education initiatives through the PPG Foundation, the release said, and recently partnered with the Regional Hispanic Contractors Association to support the advancement and economic growth of Hispanic contractors in Texas.

SALES

Bill Bledsoe, vice president of Investments at Henry S. Miller Brokerage, represented both parties in the sale of 5.1 acres at 3601 William D. Tate Ave. in Grapevine. NERF Enterprises of Grapevine was the seller, and BMC Developers LLC of Arlington purchased the property. Bledsoe will represent BMC Developers LLC in the search for office tenants interested in a long-term lease and/or a build-to-suit opportunity.

Noravi Properties of Wichita Falls has acquired about 3 acres on U.S. Highway 377 in Benbrook, just south of the traffic circle. Colonial Commercial Real Estate LLC’s Robert Dorrough represented the seller, Buckner Foundation of Dallas.

Marcus & Millichap has announced the sale of Landmark Shopping Center, a 71,915-square-foot retail property located at 2301 N. Collins St. in Arlington.

Bill G. Jordan, first vice president-investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor. The center was built in 1985 on 5.9 acres and has a current occupancy of 86 percent.

Jeff Marek, senior director at Vision Commercial, and Preston Whisenant of Whisenant Properties Inc. recently completed sale negotiations for an undisclosed price for Woodhaven Plaza, 1201 Woodhaven Blvd. in East Fort Worth.

Woodhaven Plaza is located near Eastern Hills High School and just north of Interstate 30. The center offers 22,692 square feet and current tenants include Sunrise Donuts, Rodney D. Young Insurance, Woodhaven Pharmacy and Nirvana Smoke Shop.

The seller, WC 1201 Woodhaven LP, was represented by Vision Commercial, and the buyer, P&M Family Trust, by Whisenant Properties.

LEASES

Diverse Staffing Services has leased 2,690 square feet of space at 3000 Race St., Suite 124, in Fort Worth from Trinity Race LLC. Margaret Simmons and Chris L. Stewart of Vasseur Commercial Real Estate Inc. represented the tenant. James Blake of Trinity Advisors LLC, d/b/a as SVN Trinity Advisors, represented the landlord.

Edward Jones Investments has leased 1,608 square feet of space at the Hall Johnson Professional Building at 1201 Hall Johnson Road in Colleyville. Jennifer Dyess of Colonial Commercial Real Estate LLC represented the landlord in the transaction.

Molly MacEwan, director at Vision Commercial, and Top Dog Texas recently completed lease negotiations at 136 North West Ellison St. in Burleson.

Top Dog Texas, a dog training firm, will move into the flex space and is expected to open this summer. The tenant was self-represented in the transaction, and the landlord was represented by Vision Commercial.

Scott Lowe, partner at Vision Commercial, and Brian Sladek, vice president of Retail Solutions US, recently completed lease negotiations for Woodmont Plaza North located at 6200 McCart Ave. in Fort Worth.

Los Juanitos will occupy the 1,310-square-foot endcap with drive-thru and join longtime tenants including Maya’s Furniture and Cousin’s BBQ in the center. This location will be the second for Los Juanitos, which is originally from California and Nevada. Vision Commercial represented the tenant, and Retail Solutions represented the landlord, Lion Head Investments.

Send real deals to Robert Francis at rfrancis@bizpress.net.

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