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Wednesday, October 28, 2020
Real Estate Real Deals: Goodman Distribution helps Carter Business Center maintain full occupancy

Real Deals: Goodman Distribution helps Carter Business Center maintain full occupancy

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Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.

Goodman Distribution helps Carter Business Center maintain full occupancy

Goodman Distribution Inc. has renewed its lease for 25,984 square feet in Fort Worth’s Carter Business Center.

“Goodman did look around, but there were limited options because the vacancy factor in south Fort Worth is less than 5 percent. We were able to keep the building at 100 percent occupancy and gain steady rent growth,” said Nick Talley of Dallas-based Bradford Commercial Real Estate Services, commenting in a news release.

Talley represented the landlord, Realty Associates Fund X LP.

After six months of negotiations, Houston-based Goodman re-upped its spot in the 120,768-square-foot building 1 at 7841 Will Rogers Blvd. Brant Landry of Landry Commercial Inc. represented the tenant.

Fort Worth’s Edmundton Apartments sold after 16 offers

Edmundton Apartments in Fort Worth has been sold, with an unnamed buyer purchasing the 20-unit property at 5601 Birchman Ave.

Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson of Greysteel commercial real-estate services firm marketed the property, a two-story community on .43 acres.

The community underwent major renovations in 2015, which added vinyl flooring, brushed nickel features, upgraded bathroom vanities and toilets, upgraded appliance packages, a new irrigation system, and replacement of 15 of the 20 HVAC units.

“While only marketing The Edmundton Apartments for 30 days, our team facilitated 28 property tours that generated 16 offers on the property,” Mueller said in a news release.

“Our client was extremely happy with the strong terms the purchaser brought to the table and it was a pleasure to work with both parties on this transaction,” Mueller said.

Greysteel is a commercial real estate and capital markets services firm with offices in Fort Worth, Dallas and five other U.S. locations.

Keller Williams DFW Southlake announcement

Keller Williams DFW Southlake plans to relocate its operations to Southlake’s newest office development, The Offices at Kimball Park, expected to break ground July 18.

The realty company, currently located at 850 E. State Highway 114 in Southlake, will occupy the bottom two floors of the four-floor, 115,500-square-foot office building when it opens spring 2017.

Keller Williams DFW Southlake employs more than 600 agents.

Located at the northwest corner of State 114 and Kimball Avenue, the offices are part of Kimball Park, the city’s next major mixed-use commercial development.

Kimball Park will feature restaurants, retail, offices and a 175-room Cambria Hotel and Conference Center, expected to open in September.

Rochelle Plaza Apartments secures $6.7M FHA loan

Rochelle Plaza Apartments in Irving has been refinanced through a $6,744,000 loan provided by CBRE Group Inc.

Through its Federal Housing Authority lending platform, CBRE refinanced the property at 306 W. Rochelle Road. The loan was funded through the Department of Housing and Urban Development’s Section 223(f), providing a 35-year, fully amortizing, fixed rate and non-recourse loan structure.

The loan was made to renovate the 120-unit apartment community, which was constructed in 1978.

Chad Ricks and Jeff Shaw of CBRE’s Dallas office originated the loan.

CBRE is a direct FHA lender offering the full array of FHA-insured financing for both multifamily and health care.

LEASES

Crescent Real Estate has leased 1,741 square feet at 777 Main St. in Fort Worth. Whit Kelly of Transwestern-Fort Worth represented the landlord.

XpressDocs has leased 22,046 square feet at 2301-2305 Franklin Drive in Fort Worth. Becky Thompson of Lee & Associates represented the tenant. Jeff Givens of Transwestern-Fort Worth represented the landlord.

Texas Wireline Manufacturing has leased 20,000 square feet at 8821 Forum Way in Fort Worth. Todd Lambeth of Colliers International (USA)-Dallas represented the tenant. Brent Landfried and Jeremy Mercer of Mercer Co. represented the landlord.

Crazy Canvas has leased 2,180 square feet at Country Day Plaza, 5512 Bellaire Drive South in Fort Worth. Charlotte Cooper of Venture Commercial-DFW represented the landlord.

ECS Texas LLP has leased 2,170 square feet of office space from Fossil Creek Crown Partners LTD/Rockwood Capital at 4050 Sandshell Drive in Fort Worth. Emily Hoffman of Cushman & Wakefield represented the tenant.

FlexXray has leased 55,624 square feet at Midpoint I-20 Distribution Center, building 2, 3751 New York Avenue in Arlington. Matt Dornak of Stream Realty Partners represented the landlord.

Behavioral Innovations has leased 4,690 square feet at 1012 Commercial Blvd. in Arlington. Todd Hubbard and Michael Newsome of NAI Robert Lynn represented the landlord.

Duane’s Sports Cards has leased 1,970 square feet at Great Southwest Plaza, 2805-2849 Galleria Drive in Arlington. Lorraine Schraeder of Jorco Group represented the landlord.

Copper Castle LLC has leased 1,500 square feet at Northwest Crossing Center, 409-457 E. Northwest Highway in Grapevine. Darrell Wayland of Independent Builders represented the landlord.

Aerotechnic Systems Inc. has leased 1,500 square feet in the Colleyville Technology & Business Center, 1900-1904 Industrial Blvd. in Colleyville. Greg Morris of Morris Commercial represented the landlord.

English Eateries has leased 6,259 square feet at 8000 Bedford Euless Road in North Richland Hills. Troy Morgan and Eric Deuillet of Structure Commercial represented the tenant and landlord.

Omega Acquisition Corp. has leased 75,900 square feet of office space from Industrial Property Trust at 5355 FAA Blvd. in Irving. Dan Cook and Mark Becker of Cushman & Wakefield represented the landlord, with Trace Elrod of Jackson Cooksey representing the tenant, Omega Acquisitions Corp.

Signs Up has leased 4,246 square feet at Trinity West Business Park, building 1, 2550 114th St. in Grand Prairie. Michael Spain and Jim Ferris of Bradford Commercial Real Estate Services-Greater Southwest Office represented the landlord.

Clopay Building Products has leased 22,403 square feet at Prologis GSW 43, 1025 Avenue South in Grand Prairie. Brian Gilchrist of CBRE-Arlington represented the tenant, with Jacob Milligan of Prologis-Dallas representing the landlord.

Cain’s HTG & Air LLC has leased 3,000 square feet at Forum Industrial, 2701-2717 S. Great Southwest Parkway in Grand Prairie. Lorraine Schraeder of Jorco Group represented the landlord.

Crystal Garza Storage has leased 1,500 square feet at Forum Industrial, 2701-2717 S. Great Southwest Parkway in Grand Prairie. Lorraine Schraeder of Jorco Group represented the landlord.

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