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Real Deals: Leases and Sales

LEASES

American Bear Logistics Corp. has established its first beachhead outside its homeport of Chicago, setting up a Southwest Region hub in 19,451 square feet of class A industrial space in the Dallas Fort Worth International Airport submarket.

The logistics operator’s new base of operations is located at 419 Bank St., Southlake, where it’s leased 50% of one of three buildings that came online in mid-2020. Shortly after the site search began, the global supplier had zeroed in on the new project as its future home.

The Bradford Commercial Real Estate Services team of Noah Dodge, broker associate, and Joe Santaularia, first vice president, served as the local tenant representatives for a CORFAC referral. They worked with Nick Krejci of Darwin Realty in Chicago on the transaction.

Hogan Harrison, Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, Southlake Industrial LP.

Younger Partners broker Tanja McAleavey represented Gozova in a 67,883-square-foot lease at 6633 Oak Grove Road in Fort Worth.  Gozova is a Fort Worth-based startup that provides moving, delivery, and storage and services that offers everything from same-day delivery to full moving services.

“We are bringing our services full circle in DFW with the new warehouse to bring a fuller experience to our customers by providing moving, delivery, as well as storage,” says Gozova Founder Goran Krndija.

Vision Commercial Real Estate has announced that Phil Prounh recently completed lease negotiations at 209 W. Highway 199 in Springtown. The 2,012 square-foot property will now be Springtown Pharmacy, whichwill open in April 2021. Springtown Pharmacy was self -represented.

Sean Smith and Jade Scott of Whitebox Real Estate represented Exegistics Government Solutions in the renewal of a 59,517-square-foot lease at Turnpike Distribution Center 4, 2130 French Settlement Road in Dallas.  Carter Crow of Younger Partners represented the landlord on this transaction.

SALES

Marcus & Millichap completes 386-Unit multifamily sale

Marcus & Millichap (NYSE: MMI) has sold Watermarke, a 386-unit multifamily property in Southwest Fort Worth. Al Silva, senior managing director investments in Marcus & Millichap’s Fort Worth office, represented the seller, a San Antonio-based private investment company and procured the buyer, California-based Tides Equities. Watermarke is located off Chisholm Toll Parkway, near Texas Christian University and Tarrant County College. The 19-building, three-story property was constructed on 14 acres in 1986.

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Vision Commercial Real Estate Principal Broker Roger Smeltzer Jr. recently completed a sales transaction at 1248 Harwood Road in Bedford with Julie Germain, associate at KW Commercial. Beyond Therapy and Wellness with 3,928 square feet will now be located in the Coarc Building on Harwood. The property has multiple private offices, a large conference room, and great parking.

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Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has sold Cross Creek at Grapevine Ranch, a 392-unit multifamily property in Grapevine.

“Previous ownership completed a common area renovation program that leaves minimal deferred maintenance and lets new ownership focus capital on interior renovations,” said Drew Kile, IPA senior managing director. Kile and IPA’s Joey Tumminello and Will Balthrope represented the seller, a joint venture between an affiliate of The Carlyle Group and VCT Capital Partners and procured the private buyer.

903 Throckmorton was sold to FWR 903 Throckmorton LLC, the operators of Winchester Tavern. The 2,944 square foot location will maintain the location as is. 910 Houston (Suite 100) was sold to FWR 910 Houston LLC, the operators of Winchester Tavern. The 3,096 square foot  location will maintain the location as is. Houston-Throckmorton LP was the seller. John Laudenslager, Northern Crain Realty, represented both buyer

6464 Brentwood Stair was recently sold. Will Northern, Northern Crain Realty, represented seller EREO LP and John Laudenslager, Northern Crain Realty, represented the buyer, Maitland Brentwood LLC. The centrally located office building is 12,446 square feet.

Scott Lowe, associate broker at Vision Commercial Real Estate, recently completed a sales transaction at 900 Hemphill in Fort Worth with Chris L. Stewart, vice president at Vasseur Commercial. Vision for Legacy now owns the 2,484 square foot building. After remodel completion, there will be two separate professional offices, and a large conference room. Vision for Legacy continues to invest in the Fort Worth Medical District with its second purchase in the  area in 2020. This deal is the third rehab/project in the last two years. The building could be a single tenant or a space of 1,100 and 1,300 square feet with a shared conference area. Vision will handle the leasing. Lowe represented Vision for Legacy and Stewart represented the seller.

LEASES

5716 Locke Avenue was leased by Pizza Verde Inc. The 1,126 square foot lease is for five years. Also leased at the location was 2,352 square feet for Eat This Taco LLC which will operate Mariachi’s. The lease is also for five years. Stephanie Bunn of Northern Crain Reality handled the transactions.

Cameron Haddad, director at Vision Commercial Real Estate, recently completed lease negotiations at 1900 Ballpark Way in Arlington. With 1,662 square feet, suite 102 will now be home to Physician’s Ageless Solutions and will use the space as a med spa. Vision Commercial represented Oakhollow Group while Physician’s Ageless Solutions was self-represented.

First Western Securities renewed its lease of 4,685 square feet at Willow Creek Office Building, Hurst, 76053. David Cason and Jake Neal with Holt Lunsford Commercial represented the tenant. Cole Moreano with TRXE Properties represented the landlord, HRE Willow Creek.

Clean Earth Company leased 69,828 square feet at 1201 E. U.S. Highway 67, Alvarado, 76009. George Jennings and Thomas Grafton with Holt Lunsford Commercial represented the landlord, Hearthstone Properties.

Jess Hall’s Serendipity leased 40,625 square feet at Suffolk Business Park, Fort Worth, 76133. George Jennings and Thomas Grafton with Holt Lunsford Commercial represented the landlord, DFW SD Industrial. Gibson Duwe with Transwestern represented the tenant.

Goodman Distribution renewed its lease of 25,984 square feet at CPT Carter Business Center, Fort Worth, 76140. George Jennings and Hogan Harrison with Holt Lunsford Commercial represented the landlord, AEW. Brant Landry with Landry Commercial represented the tenant.

Buyers Barricades renewed its lease of 7,200 square feet at Riverbend Business Park, Fort Worth, 76118. Jake Neal and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Business Park.

Bhayani Investments renewed its lease of 6,700 square feet at Riverbend Business Park, Fort Worth, 76118. Jake Neal and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Business Park.

J.C.& H. Inc. renewed its lease of 5,000 square feet at Village Creek Business Park, Fort Worth, 76119. Thomas Grafton and George Jennings with Holt Lunsford Commercial represented the landlord, TX Circle 182 LLC.

Professional Service Industries renewed its lease of 3,000 square feet at Riverbend Business Park, Fort Worth, 76118. Jake Neal and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Business Park. Wayne Spielgel with Collier’s represented the tenant.

Guard Texas renewed its lease of 2,000 square feet at Riverbend Business Park, Fort Worth, 76118. Jake Neal and George Jennings with Holt Lunsford Commercial represented the landlord, Riverbend Business Park.

Faire Treasures leased 1,000 square feet at 3201 E. Pioneer Parkway, Arlington, 76010. Jake Neal with Holt Lunsford Commercial represented the landlord, 303 Associates.

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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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