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Real Deals: Magnolia Medical Tower sold

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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.

Magnolia Medical Tower sold

Magnolia Medical Tower in Fort Worth has been sold to Ridgeline Magnolia MOB LP for an undisclosed price.

The 89,991-square-foot tower at 1307 Eighth Ave. in the Medical district was purchased in 2012 by Dallas-based Velocis. It invested $1.5 million in property renovations throughout all six floors and the parking garage.

“When we purchased this property, Velocis recognized that it was in need of substantial capital improvements and professional management,” said Jim Yoder, Velocis principal, commenting in a news release

Velocis modernized the building’s elevators and upgraded common areas, applied new corridor finishes, upgraded lobby areas and reconstructed restrooms, and updated signage and mechanical and lighting aspects to improve energy performance.

CBRE’s Lee Asher and Chris Bodnar of the U.S. Healthcare Capital Markets Group partnered with Austin Barrett in the Dallas-Fort Worth market to broker the sale on behalf of Velocis.


Lhoist North America has leased 50,081 square feet in the 5600 Clearfork Main building at Fort Worth’s Clearfork development.

“Along with Cassco, the developer of Clearfork, we are excited to welcome Lhoist to 5600 Clearfork Main,” said Cannon Camp of JLL, office leasing broker for Clearfork, commenting in a news release.

Other firms that have already committed to the development’s office component include Smith & Nephew and First United Bank Mortgage. Lhoist will occupy the second and third floors of the new building.

Lhoist, a manufacturer and supplier of lime, limestone and clay products, has begun designing its space. It expects to finish in the second quarter of 2017.

More information is available at


A 5,776-square-foot multi-tenant medical office building at 1751 Broad Park Circle in Mansfield has been sold. A private investor purchasing the property from a developer. Names of both parties were not disclosed. The property is fully leased. Philip Levy of Marcus & Millichap Real Estate Investment Services’ Fort Worth office marketed the property on behalf of the seller.



Hunt Southwest Real Estate Development has acquired a 17-acre site in the Riverbend West Business Park, 2101 Reeves Place in northeast Fort Worth. It plans to develop a 302,000-square-foot spec warehouse and distribution facility. Construction is expected to begin in October and finish in the third quarter of 2017. Hunt Southwest has selected Holt Lunsford Commercial’s Donnie Rohde, Chance Olin and George Jennings to lease the property.



CBRE Capital Markets has arranged $32.1 million in acquisition financing for several area industrial properties.

Known as the Riverbend industrial portfolio, the 15 properties are located in Dallas and Irving. The properties are Ferrell Drive 1 and 2 in Dallas; Freeport 1, 2 and 3 in Irving; Turnpike 10 and 11 in Dallas; and several buildings in Northgate II and Northgate IV in Dallas.

CBRE’s debt and structured finance team worked on behalf of a joint venture between Augustus Investment Holdings and Taurus Investment Holdings to obtain financing through Citizens Bank.

The portfolio is 95 percent leased and consists of 15 buildings totaling 962,000 square feet.

Scott Lewis and Greg Greene of CBRE’s Dallas office originated and secured the financing on behalf of the borrower.


Lone Star Bloom IC LLC has purchased a 5,355-square-foot office building at 3345 S. Jones St. in Fort Worth from Fort Worth Area Habitat for Humanity Inc. Gary Vasseur of Vasseur Commercial Service Inc. represented the seller.


CTE has leased 11,202 square feet at Riverbend, Building 29, 7532-7664 Pebble Drive in Fort Worth. Jake Neal of Holt Lunsford-Dallas represented the landlord.

The Fort Worth Symphony and Orchestra Association Inc. has leased a 5,000-square-foot building at 514 N. Beach St. in Fort Worth. The symphony is relocating from 1322 E. Fourth St. after the facility was acquired for a rail line. Chris L. Stewart of Vasseur Commercial Real Estate Inc. represented the landlord.

Western Wealth Advisors has leased 8,004 square feet in the Chase Bank Building, 420 Throckmorton St. in Fort Worth. Kirk Kelly of Transwestern-Fort Worth represented the tenant. Matt Montague, Frank Taylor and Ryan Matthews of JLL-Fort Worth represented the landlord.

Hi-Standard Equipment & Supply (Besco) has leased 6,353 square feet at 501 E. Broadway Ave. in Fort Worth. Ryan Matthews of JLL-Fort Worth represented the tenant. Sarah LanCarte of Transwestern-Fort Worth represented the landlord.

Escobar Financial Group has leased 1,876 square feet at Fossil Creek Tech Center I, 3900-3914 Sandshell Drive in Fort Worth. Jeffrey Smith of Rockwood Capital-Dallas represented the landlord.

Road Maker Contractor has leased 1,857 square feet at Fossil Creek Tech Center I, 3900-3914 Sandshell Drive in Fort Worth. Jeffrey Smith of Rockwood Capital-Dallas represented the landlord.

Sigma Payments Processing has leased 1,754 square feet at Summit Office Park II, 1300 Summit Ave. in Fort Worth. David Cason of Holt Lunsford-Fort Worth represented the landlord.

Superwash has leased 1,500 square feet at Woodmont Plaza, 6401-6451 McCart Ave. in Fort Worth. Lopa Jagatdeo of AZT Corp. represented the landlord.

Genesis Beauty Salon has leased 1,500 square feet at Park Center, 101-109 E. Park Row Drive in Arlington. Lorraine Schraeder of Jorco Group represented the landlord.

TABC has leased 15,000 square feet at Arlington Downs Tower, 2225 E. Randol Mill Road in Arlington. Erik Blais and Richmond Collingsworth of Bradford Commercial Real Estate Services represented the landlord.

Apollo Machine Tool Services Inc. has leased 11,040 square feet at Arlington Business Park, 731-745 109th St. in Arlington. John Brewer of Transwestern-Dallas represented the landlord.

Sebastian Labonne has leased 3,000 square feet for automotive sales and storage at 1115 Sturgeon Court in Arlington. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Ennova Learning Solutions LLC has renewed its lease for 10,838 square feet of office space in Copeland Tower, 1250 E. Copeland Road in Arlington. Erik Blais, Richmond Collinsworth, Jared Laake and Ed Pachecano of Bradford Commercial Real Estate Services represented the landlord, WF Tower-Dallas LLC. Garrett Gibbons of Jackson & Cooksey represented the tenant.

Jim Eaton of Ron Sturgeon Real Estate LP represented the owner in the following transactions in Blue Mound Business Centre in Haslet.

North Texas Basements Inc. has leased 6,000 square feet at 1128 Blue Mound Road West, No. 200.

Christopher Head has leased 2,000 square feet for a plumbing company at 1150 Blue Mound Road West, No. 303.

Codi and Amanda Morris have leased 2,500 square feet for cross-fit training space at 834 Blue Mound Road West, No. 400.

David Merrell has leased 8,000 square feet for vehicle storage at 1128 Blue Mound Road West, Nos. 204 and 306.

Chaince Investment Group LLC has leased 1,500 square feet for automotive restoration at 850 Blue Mound Road West, No. 209.

Curtis James has leased 1,000 square feet for automobile parts, storage and sales at 850 Blue Mound Road West, No. 704.

Tyson Building Corp. has leased 1,800 square feet of office and warehouse space at 1150 Blue Mound Road, No. 815.

Hempel USA Inc., a global industrial coatings manufacturer and distributor, has leased 205,522 square feet in Building B of Northport 35 Business Center in Northlake. The center is a speculative three-building development totaling 945,035 square feet on 54 acres. It serves tenants ranging from 16,000 to 650,000 square feet. Stream Realty Partners secured the lease on behalf of Hempel, whose lease raises the project’s total occupancy to 55 percent.

Hotline Delivery Systems Inc. has leased 110,240 square feet at International Airport Center, Building 200, 615 Westport Parkway in Grapevine. Dave Anderson and Steve Koldyke of CBRE- Dallas represented the landlord.

Metro PCS has leased 1,500 square feet at Harwood Hills Village, 3100-3354 Harwood Road in Bedford. Randy Scott of Quine & Associates Inc.-Dallas-Ft. Worth represented the landlord.

Frankenstein Motors LLC has leased 2,250 square feet for office and auto repair space at 5524 Midway Road in Haltom City. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Sorvay Xayprasith has leased 4,500 square feet for automotive repair at 4425 Midway Road, No. 9 in Haltom City. Jim Eaton of Ron Sturgeon Real Estate LP represented the owner.

Texas Rug Gallery has leased 6,000 square feet at Cornerstone Plaza, 2717-2737 E. Southlake Blvd. in Southlake. Britton Lankford and Mason Bakken of Bright Realty Brokerage LLC represented the landlord.

Acme Widget has leased 3,228 square feet at 820 Tower I, 305 Northeast Loop 820 in Hurst. Russell Podraza, Travis Moore and Ben Appleby of Paladin Partners represented the landlord.

Waterview-Westward LLC and Renal Treatment Centers-SE have leased 8,554 square feet of office space from Interra-Waterview LLC at 270 E. Highway 67 in Duncanville. John Fancher and Shannon Johnston of Cushman & Wakefield represented the landlord.

Premiere Martial Arts has leased 1,500 square feet at Lake Ridge Village, 5145 Lake Ridge Parkway in Grand Prairie. Ann Cloud Ngo of Quine & Associates Inc.-Dallas/Fort Worth represented the landlord.

Omnilife USA Inc. has leased 38,400 square feet at Prologis Great Southwest 7, 1205 Post & Paddock St. in Grand Prairie. Canon Shoults and Matt McWilliams of Holt Lunsford Commercial represented the tenant. Tom Walrich and Reed Parker of Lee & Associates-Dallas represented the landlord.

BDM Group LLC has leased 14,974 square feet at 1017 Santerre St. in Grand Prairie. Corby Hodgkiss of Mercer Co. represented the tenant. Jordan Foster, Austin Goode and Jim Maibach of Peyco Southwest Realty Inc. represented the landlord.

Konecranes Inc. has leased 4,338 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-GSW Office represented the landlord.

Brooks Equipment has leased 39,000 square feet at 920 Avenue R in Grand Prairie. Brian Gilchrist and Tim Vogds of CBRE-Arlington represented the tenant. Canon Shoults of Holt Lunsford-Dallas represented the landlord.

Walter Surface Technologies Inc. has leased 22,686 square feet at 710 Gateway Blvd. in Coppell. Brian Gilchrist of CBRE-Dallas represented the landlord, Prologis.

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