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Real Deals: Investor group buys Arlington office building, plans upgrades

🕐 8 min read

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

SkyWalker Property Partners has purchased a 72,518-square-foot Arlington office building as the first property of its Opportunity Knocks Fund as it prepares to launch a major capital campaign in June.

“We’ve been tracking this building for three years. It’s in a key area of Arlington,” said Clint Holland, acquisitions director for Skywalker, a locally based investment group, commenting in a news release.

The five-story, 30-year-old building located at 701 Highlander Blvd., near Arlington Highlands, the Parks Mall, USMD at Arlington and other South Arlington commercial landmarks. The 4.6-acre property includes a T-Mobile cell tower. The building is 40 percent leased.

At least $400,000 in maintenance and structural upgrades are planned. About $150,000 of that will be used to fix waterproofing issues with the roof and windows. The lobby will gain new lighting, finishes and furniture. Upgrades also are planned for elevator cabs and common areas. The exterior plan calls for a new monument sign and landscaping improvements. Work is expected to get underway within 30 days.

Gary Walker of Coldwell Banker Commercial Alliance DFW and Colt Power of NAI Robert Lynn represented the buyer of record, This Land is Highland. Paul Getty of Sperry Van Ness/First Guardian Group of San Jose, California, represented the sellers. Renee Efimoff of Coldwell Banker Commercial Alliance DFW will oversee leasing for the new owner.

SkyWalker established Opportunity Knocks to acquire class A and B properties. It hopes to raise up to $20 million in acquiring office, flex, warehouse, retail and condo properties in Texas and neighboring states.

WOODLANDS OF ARLINGTON

SOLD TO DALLAS COMPANY

The Woodlands of Arlington has been sold to a Dallas-based private real estate company. The 30-building, 264-unit apartment complex is at 2800 Lynnwood Drive in Arlington.

Al Silva and Ford Braly of Marcus & Millichap Real Estate Investment Services’ Forth Worth office represented the seller, a Dallas-based partnership that had owned the property for more than 25 years. Terms of the sale were not disclosed.

FORMER FIRE STATION SITE

TO HOUSE DUNKIN’ DONUTS

Part of an Arlington property that once housed a city fire station on Cooper Street is set to feature Dunkin’ Donuts. The Vitorino Group negotiated the sale of the site, with the prior building razed and part of the location ground-leased to Star Dunkin’ LP, an entity controlled by Jerry Jones and Troy Aikman. The property was built in 2014 and was secured by a 15-year net lease. The offering was sold to a West Coast buyer, with the Vitorino Group cooperating with an outside agent from Colorado.

SALES

Emerald Pointe Apartments has been sold to Daniel Crane. The 86-unit, 52,176-square-foot apartment complex is at 2861 West Pioneer Drive in Irving. OGH Commercial and Sam Owen represented the seller, Emerald Pointe Apartments LLC.

Tennbay Real Estate Investments has purchased 1.36 acres at 2715 Matlock Road in Arlington for an office development. Marty Neilon of CBRE-Dallas represented the seller. Geoff Shelton of Holt Lunsford-Fort Worth represented the buyer.

Newton Business Park Inc. has purchased 35,592 square feet on four acres at 1810 Banks Drive in Weatherford. Bob Scully and Brice Wells of CBRE represented the seller, Weatherford/Topco Investors Ltd.

Zora Lee, an eight-unit Dallas apartment property at 4831 Junius St. in Dallas, has been sold to an individual-personal trust. Nick Fluellen and Bard Hoover of Marcus & Millichap Real Estate Investment Services’ Dallas office marketed the property on behalf of the seller, a limited liability company. The buyer also was procured by Fluellen and Hoover.

LEASES

Amazon has leased 318,488 square feet at Meacham Crossing, 4601 Gold Spike Drive in Fort Worth. Ryan Keiser of CBRE represented the tenant. Donnie Rohde, Matt Carthey and Oscar Couto of Holt Lunsford-Fort Worth represented the landlord.

Energy Producers Inc. has leased 2,500 square feet at 600 Swayne Ave. in Fort Worth. Chris L. Stewart of Vasseur Commercial Real Estate Inc. represented the landlord, Bell Swayne LC.

Blue Tip Construction has leased 2,500 square feet at 3100 Joyce Drive in Fort Worth. Chris L. Stewart of Vasseur Commercial Real Estate Inc. represented the landlord, George Rutledge.

A-Core Concrete Cutting Inc. has leased 5,700 square feet at 4413 Carey St. in Fort Worth. Lee M. Owen and Nathan Vasseur of Vasseur Commercial Real Estate Inc. represented the tenant. Monica Wofford of Wofford Real Estate represented the landlord, GBH Properties.

Stash Data has leased 8,850 square feet at Wellington Square, 6701-6731 Camp Bowie Blvd. in Fort Worth. Bradley Hickman Jr. of Hickman Investments represented the landlord.

Ideal Dental has leased 1,705 square feet at Presidio Junction, 8901 North Freeway in Fort Worth. Guy Grivas and Marc Marrocco of MG Retail Partners represented the landlord.

Adnan Afana LLC has leased 7,000 square feet at 2558 28th St. in Fort Worth. Nathan Vasseur and Lee Owen of Vasseur Commercial Real Estate Inc. represented the landlord, Hudgins Realty I Ltd.

Baseline Energy Services has leased 2,450 square feet at 201 Foch St. in Fort Worth. David Walters of CBRE-Dallas represented the tenant.

Biaggi Bros. has leased 200,825 square feet at Prologis GSW 36, 3001 E. Pioneer Parkway in Arlington. Mark Graybill, Trey Fricke and Reid Bassinger of Lee & Associates-Dallas represented the landlord.

Gatekeeper Systems Inc. has leased 18,432 square feet at 3315 E. Randol Mill Road in Arlington. Joe Rudd and Jeff Givens of Transwestern-Fort Worth represented the landlord.

Meineke Car Care has leased 7,820 square feet at Northlake Centre, 3201-3349 W. Pioneer Parkway in Pantego. Cameron Haddad of NAI Robert Lynn-retail division represented the landlord.

Waterford Academy has leased 6,462 square feet at 315 Harwood Road in Bedford. Patricia Lopez of Retail Solutions represented the tenant. Roger Smeltzer of Vision Commercial Real Estate represented the landlord.

Belta 4 Manufacturing Inc. has leased 5,000 square feet at 4300 Garland Drive in Haltom City. Sarah LanCarte of Transwestern-Fort Worth represented the landlord.

Spectrum Technical Services has leased 2,555 square feet at 4217 Garland Drive in Haltom City. Sarah LanCarte of Transwestern-Fort Worth represented the landlord.

Glasco has leased 3,840 square feet at 2410 Minnis Drive in Haltom City. Ed Runyon of WFR Properties represented the landlord.

Jupiter’s Elite Dance Studio has leased 3,100 square feet at Hurst Belaire Shopping Center, 304-518 E. Pipeline Road in Hurst. R. Tom Bailey of A&S Properties represented the landlord.

Spectrum Technical Services has leased 2,555 square feet at 4217 Garland Drive in Haltom City. Sarah LanCarte of Transwestern-Fort Worth represented the landlord.

Crepes Bistro has leased 2,150 square feet at Town Center Colleyville, 5501-5701 Colleyville Blvd. in Colleyville. Easley Waggoner and Amy Pjetrovic of Venture Commercial-DFW represented the landlord.

Sprint Spectrum LP has leased 1,278 square feet at 4709 Colleyville Blvd. in Colleyville. Michael Meaden of CBRE-Dallas represented the tenant. KITE Realty and owner Karly Kilroy represented the landlord, Krg Colleyville LLC.

Wok Express has leased 2,000 square feet at Town Center Colleyville, 5501-5701 Colleyville Blvd. in Colleyville. Easley Waggoner and Amy Pjetrovic of Venture Commercial-DFW represented the landlord.

United Exploration has leased 1,500 square feet at 414 N. Main St. in Grapevine. Ruben Reynoso and Josh Bryan of Tenant Real Estate Advisors represented the landlord.

Newbill Skin Care has leased 1,800 square feet at 855 Davis Blvd. in Southlake. Brian Zconecek of Business Center 114 represented the landlord.

Luxor has leased 1,543 square feet in the Sherwin Williams Building, 6420 Denton Highway in Watauga. Michael Berkowitz of Colonial Commercial Real Estate LLC represented the landlord.

Curt Manufacturing LLC has leased 103,283 square feet at 1000 N. 28th Ave. in Grapevine. Tom Walrich and Corbin Blount of Lee & Associates represented the tenant. Steven Trese and Wilson Brown of CBRE-Dallas represented the landlord, Lit Industrial Texas Limited Partnership.

D&H United Fueling Solutions Inc. has renewed its lease for 11,275 square feet of warehouse space in Westfork Business Center, Building 1, at 1475 Avenue S in Grand Prairie from DCT-TX 2004 RN Portfolio LLP. Michael W. Spain and Jim Ferris of Bradford Commercial Real Estate Services represented the landlord. Steve Koldyke of CBRE Inc. represented the tenant.

Professional Packaging Systems Inc. has leased 101,839 square feet at 1905 110th St. in Grand Prairie. Cannon Green and Luke Davis of Stream Realty Partners represented Professional Packaging. CBRE Inc. represented the landlord.

Pharmacy Corp. Of America has renewed its lease for 19,193 square feet at 2214 Paddock Way in Grand Prairie. Brian Gilchrist of CBRE-Dallas represented the tenant. Michael Spain of Bradford Commercial Real Estate Services represented the landlord, Paddock Partnership.

RJ Schinner Co. Inc. has renewed its lease for 90,850 square feet at 3001 Alouette Drive in Grand Prairie. Bob Scully and Brice Wells of CBRE represented the tenant. Steve Koldyke of CBRE represented the landlord, Ppf Industrial 3001 Alouette Drive LLC.

Love’s Travel Stops & Country Stores Inc. has leased 94,689 square feet at RiverPoint Commerce Center at 3010 Roy Orr Blvd. in Grand Prairie. Cannon Green and Sarah Ozanne of Stream Realty Partners represented the landlord, RiverPoint Industrial Investors LLC. Colliers International represented the tenant.

Valley Truck Parts & HME Inc. have leased 12,800 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 represented the landlord.

Rab Lighting Inc. has leased 63,895 square feet at 330 S. Royal Lane in Coppell. Dave Anderson of CBRE-Dallas represented the tenant. Blake Kendrick of Stream Realty represented the landlord, Liberty Property Limited Partnership.

Send real estate news to lgraham@bizpress.net

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