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Sunday, January 24, 2021

Real Deals: Realtors Hall of Fame to induct Transwestern’s Huff

Three longtime real estate leaders in North Texas, including Transwestern’s Jack Huff, will be honored at the North Texas Commercial Association of Realtors and Real Estate Professionals (NTCAR) Hall of Fame awards event in May.

NTCAR will induct John Scovell, founder and chairman of Woodbine Development Corp., and Huff, who is principal at Transwestern’s Fort Worth office. The organization will also honor John F. Crawford, vice chairman of Downtown Dallas Inc., with the Michael F. McAuley Lifetime Achievement Award for his decades of service.

Huff has brokered more than 1,150 transactions with a total consideration in excess of $1 billion. He has covered the gamut in commercial real estate with specialization in office tenant representation, office-building sales and urban land. His investment/development experience ranges from resort land, retail centers and commercial land to office/medical, mineral interests and parking garages.

A University of Texas graduate, Huff began his career with Swearingen Management in 1979. He later became a founding member and principal at NAI Huff Partners (formerly NAI Stoneleigh Huff Brous McDowell). It was the largest commercial real estate firm in Fort Worth until January 2011, when Huff Partners merged with global real estate giant Transwestern.

Major transactions he negotiated include:

• 1983, the office lease for IBM Corp for 83,000 square feet on floors 9-12 of First City Bank Tower;

• In 1995, the sale of Continental Plaza Office Tower with 954,000 rentable square feet, for $75 million;

• November 2000 the Carter & Burgess sublease at 777 Main St. for 271,898 square feet of space with a total consideration of $64,651,193;

• February 2006, 64,000 square feet of office space for Range Resources on floors 9-12 at Two City Place, with a total consideration of over $14 million;

• In September 2010, 179,816 square feet of office space for Range Resources in Pittsburgh, with a total consideration of over $42 million;

• In October 2014, the sale of 66 acres formerly known as Lockheed Martin Recreational Facilities to Trademark for the Waterside Development and worth over $24,559,494 in total consideration.

“Jack Huff is a legendary real estate leader whose hustle and business savvy have left a remarkable footprint on North Texas,” said Chris Teesdale, chairman of the 2017 Hall of Fame event.

The three real estate executives will be honored at the 30th NTCAR Reunion and Hall of Fame awards dinner, which will be held May 4 at the Dallas Country Club.

The NTCAR Hall of Fame was launched in 1988, when the first six distinguished real estate recipients were Trammell Crow; Lyn Davis; Henry S. Miller Jr.; John M. Stemmons Sr. and his brother, L. Storey Stemmons; and Angus G. Wynne. Later honorees included John Carpenter; Roger Staubach; Henry S. Miller Co.; Ross Perot Jr.; Gerald Hines and Jeff Hines.

In 2016, John Goff of Crescent Real Estate and John P. Weber of Weber & Company were the honorees, and Larry Good of GFF (formerly Good Fulton & Farrell) received the McAuley Award.

AMERICAN MOTORCYCLE

REVS UP FOR BEDFORD

American Motorcycle Trading Co. has acquired the former Star-Telegram Plaza building in Bedford from a Delaware-based corporation, ending an 11-month search for a new headquarters and showroom location in the Dallas-Fort Worth area.

The 37,796-square-foot, two-story office and retail building at 3201 Airport Freeway has been vacant at least a year.

“It will be great to see that property come back on line after sitting vacant for so long. It’s an attractive building,” said Renee Efimoff, senior vice president of Coldwell Banker Commercial Advisors DFW, who represented the buyer of record, B&B Family Partnership.

American Motorcycle Trading was looking for a new headquarters and showroom after selling its longtime location at 2925 E. Division St. in Arlington last year. The dealership has remained fully operational during the search. The new site is expected to be up and running in the summer. The company has a second location in Mansfield.

The building, built in 1986, sits on nearly 3.4 acres with 349 feet of frontage along the recently widened State Highway 183 and just east of its intersection with State Highway 121. The three-mile trade area has a population of 110,835 and an average annual household income of $76,774.

Equally important to the buyer is the proximity to Dallas Fort Worth International Airport. The dealership often has customers who fly in to pick up their purchases and do road trips home. American Motorcycle Trading is one of Texas’ largest full-service dealerships of used motorcycles, including Harley Davidson, metrics, trikes, cruisers and sport bikes.

“They looked at the building and location and liked it immediately,” Efimoff said.

A major renovation is in the works for the building, which has 29,142 square feet on the first floor and 8,654 square feet on the second floor. The property will be re-platted for a new entrance and exit as a result of the road-widening project. Greg Hoffman of Colliers International represented the seller, Aberfeldy Properties Inc.

PORSCHE DEALERSHIP

PLANNED FOR GRAPEVINE

Park Place Dealerships plans to build a two-story, 70,000-square-foot Porsche dealership in Grapevine. The five-acre site is located off Texan Trail and State Highway 114 near Park Place Motorcars and Park Place Lexus.

Construction was expected be completed by spring 2018. The project will create more than 180 construction jobs and about 50 permanent jobs, according to a news release from Park Place.

“Porsche has a long and renowned history with a loyal customer base that continues to expand,” said Ken Schnitzer, chairman of Park Place Dealerships. “Porsche sales in the United States were up 6 percent in 2016 over 2015. The Macan and the new 718 Boxster were key drivers of this growth. The redesigned Panamera, which was recently unveiled, also will be a boost for Porsche. There is great strength in the iconic brand and northeast Tarrant County is a prime location for continued growth.”

Park Place Porsche Grapevine will be the company’s fourth dealership in Grapevine. Park Place Lexus opened in 2000, followed by Park Place Motorcars in 2011, which relocated from Bedford. Park Place will open a two-story, LEED-certified Land Rover Jaguar dealership July 1.

Park Place Porsche will have the capacity to display 21 vehicles on the showroom floors, including two classic vehicles in a Porsche Classic Car Center. Park Place will be a select Porsche Classic Partner intended to help clients maintain historic vehicles that have not been in standard production for at least 10 years.

Good, Fulton & Farrell is the architectural firm for the project and Hill & Wilkinson is general contractor.

Terry Powell, a Park Place member for more than 30 years, has been named general manager of the dealership.

SALES

Westbrook Development Properties sold a 22,175-square-foot industrial building at 4130 Eden Road S. in Kennedale to Rudy and Associates. Todd Hawpe with Transwestern represented the buyer and Cameron Pope with Invest DFW CRE represented the seller.

RCI Holdings Inc. sold an 11,367-square-foot retail building at 2200 N.E. Loop 820 in Fort Worth to DFJK JV, also known as FieldTech Avionics & Instruments Inc. l Todd Hawpe with Transwestern represented the seller.

LEASES

DFM Printpak has leased 47,675 square feet at Prologis GSW 56, 3709 E Randol Mill Road in Arlington. Steve Koldyke and Brian Gilchrist of CBRE-Arlington and Jacob Milligan of Prologis represented the landlord.

Natural Grocers has leased 15,300 square feet at 2501 W. Seventh St. in Fort Worth. Todd Davenport and Tyler Baucom of SCC Development Co. LLC represented the landlord.

Floorball Planet has leased 12,818 square feet at Woodlands Business Center II, Building 3, 2005 108th St. in Grand Prairie. Michael Spain and Brock Wilson of Bradford Commercial Real Estate Services-GSW Office represented the landlord.

Main Street Brewery has leased 10,940 square feet at 3533 Marathon St. in Pantego. Henry Miller III of Henry Miller III Commercial Real Estate Services represented the landlord.

Assist LLC has leased 6,500 square feet at Prologis Port America 20, 756 Port America Place in Grapevine. Turner Petersen of Mercer Co. represented the tenant. Gil Stroube and Oscar Couto of Lincoln Property Co.-Dallas represented the landlord.

Nutritional Products of TX Inc has leased 2,250 square feet at 3300-3350 S. Watson Road in Arlington. Troy Morgan and Eric Deuillet of Structure Commercial represented the tenant and the landlord.

Board & Brush has leased 1,876 square feet at Cityview Centre, 4720-4736 Bryant Irvin Road in Fort Worth. Jake Burns and Eric Deuillet of Structure Commercial represented the tenant and the landlord.

Lethal Encounter has leased 1,811 square feet at Arlington Oaks, 331 Osler Drive in Arlington. Kimdolyn Simth of Webb-Barton & Associates LLC represented the tenant. Judy Nitzinger of Coldwell Banker Commercial Advisors-DFW represented the landlord.

The Palm Tree has leased 1,596 square feet at Historic Main Street Shopping Center, 417-423 S. Main St. in Grapevine. Jake Burns and Eric Deuillet of Structure Commercial represented the tenant and the landlord.

A To Z Signs has leased 1,500 square feet at Corporate Business Park, Building 1, 2100 S. Great Southwest Parkway in Grand Prairie. William Ziegler of American Synergy Management represented the landlord.

Thaniya Chan has leased 1,500 square feet at Corporate Business Park, Building 4, 2100 S. Great Southwest Parkway in Grand Prairie. William Ziegler of American Synergy Management represented the landlord.

Victory Temple Ministries signed a 24,808-square-foot retail sublease at 5116 River Oaks Blvd. in Fort Worth with sub-landlord Khaled Properties LLC. Jeff Givens with Transwestern represented the sub-tenant.

Bassham Wholesale Egg Co. Inc. signed a 9,600-square-foot flex lease in Flex Business Park at 120 E. Felix St. in Fort Worth with Adder Felix. Todd Hawpe and Jeff Givens with Transwestern represented the landlord.

Grant Air Conditioning Co. signed a 7,250-square-foot industrial lease at 250 Roberts Cut Off Road in Fort Worth with Carol Barnes GST Trust UWD95. Gibson Duwe with Transwestern represented the tenant. Todd Hawpe and Kirk Kelly with Transwestern represented the landlord.

Send real estate news to Robert Francis at rfrancis@bizpress.net.

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