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Real Deals: Sept. 8, 2014

The Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm. Modern Lantern leases space, joins IDEA Works Fort Worth Modern Lantern LLC, an online seller and developer of cordless lamps that use patent-pending technology, has leased 115 square feet in the Guinn Complex, 600 E. Rosedale St. in Fort Worth. Representing Modern Lantern in the transaction was Stephen Fitzwater, the company’s co-founder and principle designer. The lease term is one year with a renewal term of a year. The move sees the company join IDEA Works Fort Worth, a business incubator offering 1,000 square feet of co-working space and 2,700 square feet of single-business spaces in a building that once housed James Guinn Elementary School. IDEA Works Fort Worth is a public-private partnership of the city of Fort Worth and the Business Assistance Center Education Foundation.

WINSTEAD MOVES LAW OFFICES TO NEW DOWNTOWN LOCATION Law firm Winstead PC plans to move its Fort Worth staff to the newly renovated One City Place, 300 Throckmorton St. The firm is moving from its former downtown location at 777 Main St. to the 17th floor of One City Place.

OAKWOOD APARTMENTS IN FORT WORTH SOLD Oakwood Apartments in Fort Worth has been sold for an undisclosed amount to an unnamed Plano buyer. Closing the sale through auction.com were Bob Helterbran and Mark Freeman of Colliers International North Texas. Oakwood, which features 216 apartments, is at 6351 Vega Drive.

GRAPEVINE, SOUTHLAKE GAIN MEDICAL, FINANCIAL OFFICES Grapevine and Southlake have gained three medical facilities and two financial offices through five recent transactions. Overseeing the deals was Champions DFW Commercial Realty LLC of Southlake. “We continue to see an increased demand for medical and professional office space throughout Northeast Tarrant County, and this trend has been building for the past 12 months,” said Jim Kelley, president-broker of Champions, in a news release. “Deliveries and inventories are not keeping up with the market demand,” he said. In Southlake, Dr. Alan Dennington of Better, Faster Urgent Care purchased a build-to-suit medical office building totaling almost 6,000 square feet at 630 North Kimball Ave. Medical Diagnostics leased about 1,500 square feet of that property, with Dennington set to occupy the remainder. Kelley served as intermediary in the Urgent Care transaction. He represented the landlord in the Medical Diagnostics lease. Meanwhile, Physician’s Management Company of Texas LLC leased 3,090 square feet of medical office space at 601 Zena Rucker Road in Southlake. Kelley represented the landlord in that transaction. In Grapevine, Win Financial Group has leased 1,107 square feet at 220 North Park Blvd., with Kelley representing the landlord in the transaction. Rounding out the leases was Capital Asset Resources, which leased 1,460 square feet at 2625 E. Southlake Blvd. in Southlake. Kelley represented the tenant in this lease.

SALES Benbrook Suites LLC has sold a 2,600-square-foot office building at 114 Goliad St. in Benbrook to Texas Gyro Inc. Representing the seller were Theron Bryant and Casey Tounget of Coldwell Banker Commercial Alliance DFW. Graham Walton of Clark Realty Group represented the buyer. Carmen Thayer has purchased 2,432 square feet for an undisclosed price at 2012 Bedford Road in Bedford, according to Xceligent Inc. The seller, Tpeic Platt Family Trust, was represented by Moore Matthews of KW Commercial–Southlake. Calvary New Life Fellowship has purchased a 4,950-square-foot church on 1.3 acres at 2715 Northridge Drive in Bedford from Sonset Baptist Fellowship. Representing the buyer were Theron Bryant and Casey Tounget of Coldwell Banker Commercial Alliance DFW. Brett Evans of Century 21 Real Estate represented the seller. LEASES Rodney D. Young Insurance has leased 1,750 square feet at Alta Mere Shopping Center, 2901-2917 Alta Mere Dr. in Fort Worth, according to Xceligent Inc. The tenant was represented by Chris Flesner and Taylor Mann of Retail Solutions–Dallas. Representing the landlord were Bryan Dyer and Trip Green of Woodmont Co.–Fort Worth. Kevin Davis Industrial, dba Cowser Tire & Service, has renewed its lease for 10,080 square feet of warehouse space at 4910 Rondo Dr. in Fort Worth. Representing the tenant was Erik E. Blais, market director of Bradford Commercial Real Estate Services. Brent Landfried of the Mercer Co. represented the landlord, Knoph Family Two LP. Quality Rental Homes has leased 2,040 square feet at 2800 Shamrock Ave. in Fort Worth, according to Xceligent Inc. Ed Runyon of WFR Properties represented the landlord. ATC Logistics has leased 224,752 square feet at 4801 Westport Parkway in Fort Worth, according to Xceligent Inc. Representing the landlord were John Fulton and Brett Owens of Transwestern-Dallas.

Bank of America has renewed its lease for 6,294 square feet in the Bank of America building, 2000 E. Lamar St. in Arlington. The landlord, RWM Lamar Building Corp., was represented in the direct deal by Theron Bryant and Casey Tounget of Coldwell Banker Commercial Alliance DFW. Office Max has leased 21,500 square feet at 4601-4629 S. Cooper St. in Arlington, according to Xceligent Inc. Representing the landlord and tenant was Eric Deuillet of Structure Commercial. United Revenue Corp. has renewed its lease for 2,460 square feet of office space in Arlington Oaks, 204 Billings St. in Arlington. The landlord, One Oak Over the Line, was represented in the direct deal by Judy Nitzinger of Coldwell Banker Commercial Alliance DFW. Moore Gas has leased 3,900 square feet at 2501 Centennial Dr. in Arlington, according to Xceligent Inc. David Martin of David D. Martin Commercial Real Estate represented the landlord.

Surface Preparation Texas LLC has leased 13,334 square feet at 1200-1208 Avenue H E. in Arlington, according to Xceligent Inc. Representing the tenant were Mark Graybill and Scott Giordano of Lee & Associates–Dallas. Representing the landlord were Kacy Jones and Steve Koldyke of CBRE–Arlington. FX Media TV has leased 1,089 square feet at 310 N. Main St. in Keller, according to Xceligent Inc. Representing the landlord in the transaction was Clint Montgomery of SVN Visions Commercial. Mister Sparky has leased 600 square feet at 2529 Minnis Dr. in Haltom City, according to Xceligent Inc. Representing the landlord in the transaction was Ed Runyon on WFR Properties. Bar Express has leased 800 square feet at 2529 Minnis Dr. in Haltom City, according to Xceligent Inc. Representing the landlord in the transaction was Ed Runyon on WFR Properties. SCSI Stuff has leased 14,969 square feet at Heritage Business Park VI, 800 Industrial Blvd. in Grapevine, according to Xceligent Inc. Representing the tenant was Tyson Erwin of NAI Robert Lynn. Representing the landlord was Michael Spain of Bradford Commercial Real Estate Services–GSW Office. K-Bags has leased 6,000 square feet at 1800 Cypress St. Building A in Haltom City, according to Xceligent Inc. Representing the tenant was Brent Landfried of Mercer Co. Representing the landlord was Gary Vasseur of Coldwell Banker Commercial Searcy Vasseur Group–Fort Worth.

Morrison Supply has leased 50,109 square feet at 1201 Avenue S. in Grand Prairie, according to Xceligent Inc. Representing the landlord were Stan McClure and Steve Koldyke of CBRE–Dallas and Arlington. Regal Corp. has renewed its lease for 18,687 square feet of warehouse space at 605 Avenue R in Grand Prairie. Representing the landlord, DCT-TX 2004 RN Portfolio LLP, were Michael W. Spain, senior vice president and managing partner of Bradford Commercial Real Estate Services, and Jim Ferris, vice president. Michael Stanzel of NAI Robert Lynn represented the tenant.

Cannon Operating LLC has renewed its lease for 5,310 square feet, adding 1,401 square feet of office space in the Chase Bank building, 3200 Broadway Blvd. in Garland. Representing the landlord, EY 3200 JV, in the direct deal was Beaux Riley of Coldwell Banker Commercial Alliance DFW.

Agape Manor Home LLC has renewed its lease for 2,802 square feet of office space in the Chase Bank building, 3200 Broadway Blvd. in Garland. Representing the landlord, EY 3200 JV, in the direct deal was Beaux Riley of Coldwell Banker Commercial Alliance DFW. ———————————————————————————————————– Send real estate news to lgraham@bizpress.net  

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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