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Real Deals: Retail veteran joins CBC Advisors for Dallas expansion

🕐 6 min read

A retail veteran has been named managing principal for Coldwell Banker Commercial Advisors DFW to lead its expansion into the sector and recruit a diversified team of brokers for a new Dallas office.

The firm’s new executive, Steve Gray, is a leading tenant and landlord representative with more than 20 years’ experience. He spent the last six years as senior vice president and leasing director for a 4.8 million-square-foot portfolio of retail projects controlled by Dallas-based Weitzman Group.

Gray initially will be working in CBC Advisors DFW’s headquarters in Arlington, which is led by Gary Walker, managing principal and founder of SCM Real Estate Services, a long-time local firm that merged with CBCA in 2014. The firm also has an office in Fort Worth, which is overseen by Theron Bryant, principal.

“CBC Advisors already has an excellent national and local platform. We’ll be adding retail brokers locally with some of the best talent in DFW,” Gray said. “We’re going to be opportunistic in recruiting brokers and winning assignments.”

Gray’s career includes numerous industry awards for production volume. During nine years at Weitzman, he completed 350 transactions totaling nearly 1.8 million square feet.

“CBC Advisors is providing a challenging and invigorating opportunity that will allow me to make the most of my market knowledge and skills,” Gray said, “and open new doors for existing and future clients.” His list of clients includes Wing Nutz, WaterWalk Corporate Living, Avis Budget, SEE Eyewear and Sneaker Villa.

“Steve is highly regarded in the industry. The catalyst in his decision to join us was the CBCA platform,” Walker said. “Our team has long been keen to open a Dallas office, but I needed a talented and respected professional with strong relationships and vision. Steve is that person.”

Joining Gray in the Dallas office when it opens will be CBC Advisors DFW’s new vice president, Ryan Crabtree, who is working in the firm’s Arlington headquarters. He has 12 years’ experience in the data center industry.

Gray is a member of the International Council of Shopping Centers and the North Texas Commercial Association of Realtors. He holds a master’s degree in applied economics and a bachelor’s degree in business administration from the University of North Texas.

INDUSTRIAL PARK ADDING

PHASE II IN NORTH FW

Trammell Crow Co. and joint venture partner PGIM Real Estate have begun construction on Phase II of 35-Eagle industrial park along Interstate 35W in far North Fort Worth. Plans for the 106-acre site include three new industrial buildings: Building A, a 1.09 million-square-foot cross-dock warehouse; Building H, a 312,654-square-foot rear-load warehouse; and Building J, a 233,961-square-foot cross-dock warehouse. Completion for all three buildings is expected in late 2017.

This is the second phase at 35-Eagle. The joint venture partnership completed Phase I, which comprises two Class A+ buildings totaling nearly 1.6 million square feet, in the fourth quarter of 2014. Phase I secured long-term leases with two investment-grade tenants to reach 90 percent occupancy. Buildings B and D were sold to Heitman, a real estate investment management firm, in late 2016.

“We are extremely pleased to continue our work with PGIM Real Estate on Phase II of 35-Eagle,” said Scott Krikorian, senior managing director of Trammell Crow’s Dallas/Fort Worth Business Unit. “35-Eagle provides tenants modern amenities and efficient access to local highways, intermodals and airports.”

The project is adjacent to Alliance Airport at the northwest corner of Interstate 35W and Eagle Parkway. It offers efficient access along I-35W, as well as north and southbound exits and entrances at Eagle Parkway and I-35W. It is within three miles of the headquarters for BNSF Railway, the second-largest freight railroad network in North America. Ownership will seek LEED certification on all three buildings.

Alliance Architects Inc. is the project architect. Conlan is the general contractor and Halff Associates Inc. will serve as the civil engineer. Steve Trese and Bob Scully with CBRE Dallas are leasing and marketing the project.

OLYMPUS EXPANDS HOLDINGS

WITH APARTMENTS IN GEORGIA

Fort Worth-based Olympus Property continues to expand in the Southeast with the acquisition of Carrington Square in Savannah, Georgia. The community will be renamed Olympus Carrington. It is a 288-unit Class A apartment community completed in 2007. Located in the Savannah Quarters submarket, the upscale community includes the exclusive Savannah Quarters Country Club featuring a Greg Norman signature golf course.

Olympus Carrington at Savannah Quarters is the first apartment community to be added to Olympus Property’s seventh fund, WW Olympus Property VII LLC. The fund will provide a geographically diverse blend of several multifamily assets throughout the United States to give investors stabilized cash flow over time. The fund is looking to add two more properties currently under contract within the next month.

Olympus Property, founded in 1992, is a fully integrated real estate investment firm based in Fort Worth

SALES

South Loop 820 LP has purchased a 23,375-square-foot building located at 5216 David Strickland Road in Fort Worth. Michael Newsome and Todd Hubbard of NAI Robert Lynn negotiated the deal.

Garden Park Apartments, a 252-unit multifamily community located at 1609 Sherry St. in Arlington, has been sold. Mark Allen of Marcus & Millichap represented the seller, a limited liability corporation from California, and procured the buyer, a Dallas-based limited liability corporation.

“Our extensive campaign to promote this asset included conducting tours for more than 100 investors and syndicators, which generated multiple offers,” said Allen.

LEASES

Crocker Russell & Associates has leased 729 square feet of office space at Newport Office Park, 2400 Highway 287 in Mansfield. Vicki Parker of NAI Robert Lynn represented the landlord.

Point Blank Range & Gunshop has leased 23,942 square feet at 6201 NE Loop 820 in North Richland Hills. Rose Meza and Austin Speni of JLL–Dallas represented the landlord.

Apex Cargo International has leased 21,875 square feet at DFW Global Logistics Centre, Building C, 1250 Mustang Drive in Grapevine. Turner Petersen of Mercer Co. represented the tenant. Steve Koldyke and Kacy Jones of CBRE–Arlington represented the landlord.

JW Logistics Operations LLC has leased 20,094 square feet at DFW Global Logistics Centre, Building D, 1275 W. 17th St. in Grapevine. Susan Singer and Russell Todd of Bradford Commercial Real Estate Services- Corporate Office represented the tenant. Steve Koldyke of CBRE–Arlington represented the landlord.

Skyler Electric Co. has leased 12,675 square feet at Westpark Distribution Center, 2001 Reliance Parkway in Bedford. Chris Bly of Proterra Properties Inc. represented the landlord.

Purdue Brandon Fielder Collins & Mott has leased 11,758 square feet at Park Springs Place, 4025 Woodland Park Blvd. in Arlington. Kurt Cherry and Shea Byers of PM Realty Group–Dallas represented the landlord.

2-W Wholesale has leased 9,623 square feet at 2212-2222 Commerce Drive in Arlington. Dan Lawson and Chris Bly of Proterra Properties Inc. represented the landlord.

Tuesday Morning has leased 5,434 square feet at Hulen Fashion Center, 5200-5288 S. Hulen St. in Fort Worth. Easley Waggoner and Amanda Throckmorton of Venture Commercial–DFW represented the landlord.

Euless First United Methodist Church has leased 2,987 square feet at Chase Bank Office Building, 1010 W. Euless Blvd. in Euless. Roger Smeltzer of Vision Commercial Real Estate represented the landlord.

Quest Diagnostics has leased 2,112 square feet at City View Towne Crossing, 4801-4875 Bryant Irvin Road in Fort Worth. Mark Johnston of Glazer represented the landlord.

Asia Spa has leased 2,000 square feet at Pecan Park Shopping Center, 2401 W. Pioneer Parkway in Pantego. Roger Smeltzer of Vision Commercial Real Estate represented the landlord.

Marvel Eye has leased 1,767 square feet at Woodbridge Plaza, 420 Grapevine Highway in Hurst. Richard Polishuk of Henry S Miller Brokerage LLC–Dallas represented the landlord.

The Colaneri Firm inked a new 5,178-square-foot lease at 524 E. Lamar Office Centre in Arlington. Jim Montgomery at Swearingen Realty Group LLC. represented the tenant. Sean Dalton and Kathy Permenter at Younger Partners represented the landlord.

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

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