NORTH TEXAS BURLESON, TX MANUFACTURING / DISTRIBUTION DEVELOPMENT California-based Golden State Food Corp. plans to develop a 160,000 sf manufacturing & distribution facility located at 5501 Vantage Drive in Highpoint Business Park. Josh Bays with Site Selection Group represented Golden State Foods. Construction on the $70 million project is slated to begin in April 2018 and is expected to be completed by September 2019.
DALLAS, TX HOTEL / RESIDENTIAL TOWER DEVELOPMENT Farmers Branch-based Centurion American Development Group purchased the former Cabana Hotel located at 899 Stemmons Freeway from Dallas County with plans to redevelop the 10-story, 357-room and also build a residential tower on the adjacent developable parcel. John Alvarado, Peter Jansen & Stan McClure with CBRE & Lawrence Gardner with OMS Strategic Advisors’ represented the seller MULTI-FAMILY SALE Ohio-based The Conner Group purchased a 372-unit multi-family community called Avana West Lemmon which is located at 3600 Wheeler St in the Highland Park area from Greystar Real Estate Partners LLC. The property features 18,000 sf of ground floor retail space & amenities such as two pools, a clubhouse, fitness center & business center. MULTI-FAMILY SALE SWBC Real Estate LLC has sold two apartment communities to Weinstein Properties for $100 million.The 358-unit River Walk Village at 4000 S. Broadway Ave. delivered in 2016. The 304-unit Timberview Ranch at 6310 SH 360 in Grand Prairie opened this year. Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale. OFFICE SALE Reserve Capital Partners purchased the Hidden Grove, a 232,389 sf office campus located at 12404 Park Central from Red Asset Management. John Alvarado, Gary Carr, Eric Mackey, Evan Stone, Jared Chua & Robert Hill with CBRE represented the seller & Nora Hogan with Transwestern represented the buyer. OFFICE SALE Mohr Capital purchased a 100,000 sf office building located in University
Park from an undisclosed buyer. The property is currently vacant. Mohr Capital will invest in capital improvements to the building that will result in an additional 150,000 sf of space. Gary Horn & Jack Glasgow of Cresa represented the buyer.
DESOTO, TX INDUSTRIAL SALE An undisclosed buyer purchased Eagle Park 20/35, a 454,408 sf, Class A industrial property situated on 29.4 acres located at 1240 East Center Park from a joint venture between Ridgeline Property Group & Stockbridge Capital Group. The property is centrally located 15 minutes away from downtown Dallas & is adjacent to I-20 & I-35.
IRVING, TX INDUSTRIAL LEASE An undisclosed tenant leased 27,574 sf of flex space at Westgate Center located at 2020 Westridge Dr. Mike Quinn with Fritsche Anderson & Lee Wagner with Younger Partners represented the tenant, a leader in the facility services industry & Carter Crow & Todd Jones with Younger Partners represented the landlord. OFFICE LEASE Stamford, Conn.-based Gartner leased the six story, 152,086 sf office building located at 6011 Connection Dr. from Pidemont Office Realty Trust. Randy Cooper, Andy May, Matt Heidelbaugh & Amber Roberts of Cushman & Wakefield represented the tenant & Joel Pustmueller & Sarah Hinkley with Peloton Commercial Real Estate represented the landlord. OFFICE SALE Canal Center Investors, LLC purchased the 237,894 sf Canal Center, a Class A office building located at 400 E. Las Colinas Boulevard from Libitzky Property Companies and Sunwest Real Estate Group. Eric Mackey, Gary Carr, John Alvarado, Evan Stone, Jared Chua & Robert Hill with CBRE represented the seller & Bruce Marshall with Sperry Van Ness represented the buyer.
MIDLAND, TX SERVICE CENTER DEVELOPMENT Weir Oil and Gas, an oilfield services company, has started construction on a 92,000 sf facility on 20 acres located in the David Mims Business Park on Interstate 20 which is owned by Midland Development Corporation. The company plans to consolidate its three Permian Basin service centers
into a single service center which will add around 100 employees. REGIONAL HEADQUARTERS DEVELOPMENT Houston-based Anadarko Petroleum Corp. will build its 300,000 sf regional headquarters in the new 38-acre Westridge Commons mixeduse development. The company will be the first anchor tenant in Continuum Partners & KKR’s project which is located on Andrews Hwy. Construction will begin in February 2018 with completion of the office and retail space set for summer 2019.
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Rendering Courtesy http://3plcentral.com
PLANO, TX MULTI-FAMILY SALE Little Rock, AK-based BSR Trust LLC purchased the 474 unit Windhaven Park Apartment for +/- $45 million. The 22-acre project is located at 6201 Windhaven Parkway. Leonhard & Chris Crump of JLL represented the purchaser in securing a Fannie Mae loan. OFFICE SALE A joint venture of PRP LL & AXA Investment Managers purchased a four-story, 264,000 sf Class A office building located at 7900 Legacy Drive from KDC Real Estate Developments & Investments. Completed in 2015 as a build-to-suit for FedEx Office & Print Services, the building is located in Legacy West. Gary Carr, John Alvarado, Eric Mackey, Evan Stone, Jared Chua & Robert Hill with CBRE represented the seller.
ROCKWELL, TX MULTI-FAMILY DEVELOPMENT Dallas-based Atticus Real Estate & Ca. -based AMCAL Equities LLC has started construction on a four-story, 228-unit apartment community called Harbor Urban Center Apartments located at the southeast corner of Summer Lee Drive & Horizon Road, just south of Interstate 30. Construction is expected to be complete by October 2019.
DALLAS, TX OFFICE DEVELOPMENT New York City-based Seritage Growth Properties & Dallas-based KDC will develop up to one million sf of office space within Dallas Midtown, a 430-mixeduse redevelopment zone. The office development will feature two Class A towers with anchor retail & entertainment spaces. Seritage is also considering adding a hotel as part of its 23-acre project within the larger development.
Ryan Hesch of ML Realty Partners has been promoted to President & CEO.
Nancy Kozinski of ML Realty Partners has been promoted to Chief Operating Office.
WICHITA FALLS, TX CALL CENTER SALE SkyWalker Property Partners LP purchased a net-leased 36,879 sf call center at 2236 Airport Drive from Sandalwood Pacific LP of Hawaii. The buyer was represented by Gary Walker of Coldwell Banker Commercial and the seller was represented by Logan Reichle with CBRE. The center is currently leased to Kansas City, Mo.-based USA 800, an inbound call center
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