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Saturday, April 17, 2021

Real Deals: The Phoenix complex in Near Southside is sold

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

The Phoenix complex in Near Southside is sold

The Phoenix apartment property in Fort Worth has been sold, with an unnamed buyer snapping up the 170-unit community at College Avenue and West Peter Smith Street just south of Interstate 30 in the Near Southside.

Terms of the sale were not disclosed.

Will Balthrope, Drew Kile and Rowan Burch of Institutional Property Advisors, a division of Marcus & Millichap Real Estate Investment Services, advised the seller, Eisner Development Corp. of Fort Worth and Ventures Development Group of Baton Rouge, La. Balthrope, Kile and Burch also procured the buyer.

“The Phoenix is the only newly constructed asset in the Near Southside area, which is the second-largest employment center in Tarrant County,” Balthrope said in a news release.

The Phoenix features 24-hour gated entrance, a 4,257-square-foot office and clubhouse with a catering kitchen and fitness/yoga area, as well as a resort-style swimming pool with a tanning shelf.

FIRM ACQUIRES FINAL ACREAGE

FOR WESTLAKE DEVELOPMENT

Wilbow Corp. has acquired 38 acres to complete the final phase of the Granada residential development in Westlake. The tract is expected to feature 43 custom home sites, with Calais Custom Homes, Simmons Estate Homes, Larry Stewart Custom Homes and Tresor Custom Homes serving as its custom builders.

When complete, Granada will offer 84 homes starting at $1.2 million. Residents will have access to Westlake Academy and the Carroll Independent School District in nearby Southlake.

Assisting Wilbow in site acquisition and development financing was Southside Bank, with Michael Hott providing transaction services and Bobby Dollak and G&A Consultants providing engineering services.

Lead contractor for excavation is Centurion American Development, with Kodiak Trenching and Boring handling utilities and Stabile & Winn Inc. handling paving.

No landscaping architect has been contracted, with all phase-one work completed by the seller. Wilbow Corp., the wholly owned U.S. arm of Australia-based Wilbow Group Pty. Ltd., is currently developing several residential projects in Dallas-Fort Worth, including Morningstar Ranch west of Fort Worth, Stonegate in McKinney and HighGrove at West Kessler Heights in Dallas.

ARLINGTON APARTMENTS SOLD

Olympic Club Apartments, a 305-unit property at 504 Dudley Circle in Arlington, has been sold to BDP Partners LLC. Fred Dumlao of Henry S. Miller Real Estate Investment Services represented the buyer. Todd Franks and Jon Krebbs of Sperry Van Ness TJP Investments represented the seller. City Gate Property Group has been chosen as the property management partner.

TROPHY CLUB SITE FULLY LEASED

The Shoppes of Trophy Club, at 2001 State Highway 114, is fully occupied after 2,625 square feet of retail space recently was leased.

Barrett England of Vision Commercial Real Estate LLC and Brian P. Catalano of CSC Properties Inc. completed lease negotiations for a development that includes Leslie’s Pool Supplies, which joins Cristina’s Fine Mexican, Fish & Knife Japanese, Vinny’s Italian, Summit Dental and Trophy Club Vision.

Since taking over leasing in February 2014, England has brokered seven leases totaling 19,126 square feet, or 51 percent, of the center.

The newest tenants also include Zoom Room and S6 Liquor. Zoom Room, a dog training facility, was represented by Sharon Hodnett of Keller Williams Realty. The Force by Luke, a personal training studio, was represented by Moore Mathews of KW Commercial. Jim Pangman of Pangman Commercial Realty LP represented S6 Liquor.

SPRINT LEASES NRH SPACE

Sprint has leased RadioShack’s former 2,400-square-foot space at David Towne Crossing in North Richland Hills.

Roger Smeltzer of Vision Commercial Real Estate LLC and David Levinson of The Retail Connection completed lease negotiations for Sprint, whose space at 8528 Davis Blvd. abuts Bank of America, Fort Worth Credit Union, Sally Beauty, The UPS Store, Cotton Patch Cafe, Sport Clips, as well as other retailers in the Target-anchored center.

David Levinson of The Retail Connection represented the landlord.

SALES

Ron Investments Ltd. has leased two acres of industrial land at 800 E. Ninth St. in downtown Fort Worth. The buyer represented himself, with Scott Lowe of Vision Commercial Real Estate LLC representing the seller.

Oscar Reyes of Hi View Real Estate has purchased a 1,200-square-foot retail building at 5221 E. Lancaster Ave. in Fort Worth. Scott Lowe of Vision Commercial Real Estate LLC represented the buyer.

Pipie LLC has purchased a 3,018-square-foot, multi-tenant office building at 1310 Norwood Drive in Bedford. Russ Webb of Silver Oak Commercial Realty represented the seller, Linda Bell Living Trust. Janet McCready of Realty Professionals represented the buyer.

LEASES

CK Technologies has leased 197,600 square feet at 5400 Alliance Gateway Freeway in Fort Worth. Gary Lindsey of Newmark Grubb Knight Frank represented the tenant. Trey Fricke of Lee & Associates-Dallas represented the landlord.

Hightech Graphix Inc. has leased 14,429 square feet at Riverbend, Building 27, 7632-7664 Pebble Drive in Fort Worth. George Jennings, Donnie Rohde and Jake Neal of Holt Lunsford-Fort Worth represented the landlord.

Solar Panel Co. has leased 6,000 square feet at Riverbend, Building 25, 2400-2430 Gravel Drive in Fort Worth. George Jennings, Donnie Rohde and Jake Neal of Holt Lunsford-Fort Worth represented the landlord.

Vixen Vapors LLC has leased 4,000 square feet at 820 Business Park, Building 6, 2824-2846 Southeast Loop 820 in Fort Worth. Patrick Hunter of Hunter Commercial Properties represented the landlord.

Snappy Salad has leased 2,724 square feet at The Village at Camp Bowie, 6115 Camp Bowie Blvd. in Fort Worth. Mitch Traub of Retail Connection represented the tenant. Shawn Fullam and Chris Thomas of Lincoln Property Co.-Dallas represented the landlord.

Sensibill Professional Services has leased 2,698 square feet at The Village at Camp Bowie, 6115 Camp Bowie Blvd. in Fort Worth. David Cason and Geoff Shelton of Holt Lunsford-Fort Worth represented the landlord.

Fleetscreen Ltd. has expanded its lease for 843 square feet of office space in The Offices at So7 at 2421 W. Seventh St. in Fort Worth with Parkside KTX TX LLC. Alex Bryant of Transwestern represented the landlord

Wong Engineers has leased 3,000 square feet at Riverbend, Building 25, 2400-2430 Gravel Drive in Fort Worth. George Jennings of Holt Lunsford-Fort Worth represented the landlord.

Source Once Spares has leased 41,818 square feet at Centreport 4, 4300-4302 Buckingham Road in Fort Worth. Ryan Boozer of Stream Realty Partners LP-Dallas represented the tenant. Tom Kuhlmann, Michael Peinado and Gil Stroube of Lincoln Property Co.-Dallas represented the landlord.

Tower Connect LLC has leased 3,000 square feet at Riverbend, Building 25, 2400-2430 Gravel Drive in Fort Worth. George Jennings of Holt Lunsford-Fort Worth represented the landlord.

Cowtown Pediatrix has leased 1,680 square feet at Ridgecrest Plaza, 4011 Benbrook Highway in Fort Worth. Carl Brown and James Blake of Sperry Van Ness|Trinity Advisors represented the landlord.

Kerr Industries of Texas Inc. has renewed its lease for 50,000 square feet of industrial flex space at 1101 N. Great Southwest Parkway in Arlington. Jim Ferris and Michael W. Spain of Bradford Commercial Real Estate Services represented the landlord, CIVF I-TX 105-W06 LP. Jim Hazard of E. Smith Realty Partners LLC represented the tenant.

Southwest Restaurant Equipment Inc. has leased 15,000 square feet at 3200-3220 Dalworth St. in Arlington. Patrick Embry of NAI Robert Lynn represented the tenant. Bob Kent of Kent Realty represented the landlord.

The Tutoring Center has leased 1,674 square feet at Green Oaks Shopping Center, 4001-4101 W. Green Oaks Blvd. in Arlington. Robert Roher of Global Realty & Management represented the landlord.

Xlent Towing has leased 1,600 square feet at 2918 S. Cooper St., Building D in Arlington. Lee Schulman of Johnson Creek Properties represented the landlord.

Source Once Transportation has leased 25,304 square feet at Prologis Hanover, 801 Hanover Drive in Grapevine. Gil Stroube and Oscar Couto of Lincoln Property Co.-Dallas represented the landlord.

D Circle Logistics has leased 20,000 square feet at Kennedale Parkway C, 705 W. Kennedale Parkway in Kennedale. David Martin of Capstone Commercial represented the tenant. Gary Schragin of Landhold Advisors Inc. represented the landlord.

Well Pro Solutions has leased 20,000 square feet at Kennedale Parkway East, 705 W. Kennedale Parkway in Kennedale. Gary Schragin of Landhold Advisors Inc. represented the landlord.

XL Parts has leased 15,000 square feet at 1118 W. Harris Road in Arlington. Jordan Foster, Austin Goode and Jim Maibach of Peyco Southwest Realty Inc. represented the landlord.

Arrow Child & Family Ministries has leased 6,098 square feet at 524 East Lamar Office Centre in Arlington. Jason Brecheen and Allison Rice of Swearingen Realty Group LLC represented the tenant. Representing the landlord were Heather Shover, Sean Dalton and Kathy Permenter of Younger Partners-Dallas.

Valence Health has leased 4,556 square feet at 121 Airport Centre I, 2208 State Highway 121 North in Bedford. Tom Smolik of TIG Real Estate Services-Dallas represented the landlord.

Wireless Innovation Store has leased 1,560 square feet at Matlock Plaza, 4306 Matlock Road in Arlington. Bobby Montgomery and Jon McDaniel of NAI Robert Lynn-Retail Division represented the landlord.

Michaels has leased 270,800 square feet at Trade Center VI, International Commerce Park, located at 2450 Esters Blvd. in Grapevine. E. Smith Realty Partners’ Damian Rivera, as well as Jamie Jennings of Stream Realty Partners, represented the tenant.

Mexus Plastics LLC has leased 25,000 square feet at 167 Sentry Drive in Mansfield. Jim Hazard of E. Smith Realty Partners represented the landlord.

BFS Services has leased 70,000 square feet at Lakeside Trade Center, Building 1, 500 Enterprise Drive in Flower Mound. Reed Parker and Tom Walrich of Lee & Associates-Dallas represented the tenant. Bates Arnot of Hillwood represented the landlord.

Gateway Classic Cars has leased 43,750 square feet at DFW Global Logistics Centre, 1200 Mustang Blvd. in Grapevine. Mark Nicholas, Sam Weatherby and Michael Haggar of Jones Lang LaSalle-Dallas represented the tenant. Steve Koldyke and Kacy Jones of CBRE-Dallas represented the landlord.

Opulent Cakes has leased 5,000 square feet at 1201 Minters Chapel Road, Building 3 in Grapevine. Tim Lancaster of TLC Realty represented the landlord.

SIG Insurance has leased 1,686 square feet at 2129 Martin Drive in Bedford. Russ Webb of Silver Oak Commercial Realty represented the landlord, SAHSIM Properties LLC.

Salmons PC has leased 1,419 square feet at 777 Lonesome Dove Trail in Hurst. Russ Webb of Silver Oak Commercial Realty represented the landlord, Cavanaugh Office Properties LLC, with Colt Power of NAI Robert Lynn Fort Worth representing the tenant.

Dr. Jill Plenti has leased 1,198 square feet at 781 Lonesome Dove Trail in Hurst. Russ Webb of Silver Oak Commercial Realty represented the landlord, LODD Partners LLC, with Eric Vickers of the Weitzman Group representing the tenant.

Mitsubishi Electric Automation Inc. has renewed its lease for 20,000 square feet of distribution space in Heritage Business Park 2, 1000 S. Nolen Dr. in Grapevine. Michael W. Spain and Nick Talley of Bradford Commercial Real Estate Services represented the landlord. Allen Gump and Allyson Gump of Colliers International represented the tenant.

Prodigy Toxicology PLLC has leased 1,801 square feet at 3700 River Walk in Flower Mound. Russ Webb of Silver Oak Commercial Realty represented the landlord, Heckman Land & Properties LLC.

Classic Soft Trim Inc. has renewed its lease for 18,447 square feet of warehouse space at 1751 Hurd Drive in Irving. Brian Pafford and Jason Miller of Bradford Commercial Real Estate Services represented the tenant. Richard Berry of 1725-51 Hurd Corp. represented the landlord.

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