Jackson-Shaw has broken ground on 46 Ranch Logistics Park, a 562,680-square-foot, three-building urban industrial development in Fort Worth. Building 1 is 249,480 square feet, Building 2 is 158,760 square feet and Building 3 is 154,440 square feet. At total build-out, the project will have 2.2 million square feet of Class A industrial space. GFF

Commercial Real Estate

Deal Ticker: Jackson-Shaw Breaks Ground on Major Industrial Park

Plus: Lighting giant Quorum International recommits to Fort Worth, Transwestern brokers 30,656-square-foot office lease, A MUTTS Canine Cantina is heading to Allen, and more.

Share your top deals by emailing Real Estate Editor Bianca R. Montes at bianca.montes@dmagazine.com.

Jackson-Shaw and equity partner Thackeray Partners broke ground on two industrial parks in North Texas.

In south Fort Worth is 46 Ranch Logistics Park, which is expected to deliver three speculative warehouses totaling 562,680 square feet in phase one. The site will include 2.2 million square feet of industrial space at full build-out and is located on 124 acres near the intersection of Campus Drive and Oak Grove Road. The phase one buildings will range from 154,440 square feet to 249,480 square feet and begin delivering at the end of the year. GSR-Andrade designed the site, and Ridgemont Commercial Construction will build it. Seth Koschak, Jeff Rein, and Luke Davis of Stream Realty Partners will manage and lease the development.

Parc20 Rendering

The second project is located near the 4800 block of Collins Street in Arlington. Named Parc20, the two-building development will bring 154,127 square feet of warehouse space to the area. GSR-Andrade designed the site, and Ridgemont Commercial Construction will build it—both buildings are expected to deliver by the end of the year. Luke Davis, Matt Dornak, and Charles Brewer of Stream will manage and lease the development.

HOTEL
Hilton Dallas Southlake Town Square
Hilton Dallas Southlake Town Square

Florida-based Driftwood Capital has purchased the 248-room Hilton Dallas Southlake Town Square at 1400 Plaza Place. Arkansas-based Hobbs & Curry Family Limited Partnership represented the buyer. Robert Wiemer, Chris Plasencia, and John Plasencia of The Plasencia Group represented the seller.

INDUSTRIAL

Walmart is under contract for two large parcels of land in Lancaster, according to city documents. The site will be home to a two-building, 1.9 million-square-foot facility in 292 acres at the southwest corner of East Belt Line and Sunrise roads; Walmart has plans for a 1.2 million-square-foot fulfillment center. The project will cost about $420 million and is expected to create more than 1,000 jobs within three years of opening. At the southwest corner of East Pleasant Run and Cornell roads, the retail giant is planning a 700,000-square-foot cold storage warehouse that is expected to create a minimum of 300 jobs within three years after opening.

Kansas City Southern and NorthPoint Development, both out of Kansas) have entered into a joint agreement to build out Wylie Logistics Park, adjacent to the railroad company’s David L. Starling Wylie Intermodal Terminal northeast of Dallas. The site has a potential building capacity of 2.4 million square feet. Plans show six buildings ranging from 185,000 to 800,000 square feet.

CanTex sought to acquire 2917 Oakland Street, the highly functional value-add warehouse, to complement the adjacent 162,000-square-foot manufacturing and warehouse facility that CanTex recently acquired during the pandemic at 2900 W. Kingsley Road.
401 Railhead Road

Davoil Inc. has renewed a 305,255-square-foot full-building lease with Sun Life Assurance Co. of Canada to keep lighting giant Quorum International Inc.’s national distribution center firmly rooted in north Fort Worth at 401 Railhead Road. Nick Talley with Dallas-based Bradford Commercial Real Estate Services brokered the deal.

Dallas-based real estate and investment firm CanTex Capital has purchased 2917 Oakland Street, a 123,800-square-foot property in Garland. Stream Realty Partners industrial team of Adam Jones and James Mantzuranis represented CanTex in the transaction, while Hal Penchan and Matt Troutt with Alt+Co represented the seller. Additionally, Stream was able to identify a multi-national construction company, Hill & Smith, to occupy the entirety of the project. The new tenant is targeted to move in by the end of Q1 2021. Jones and Mantzuranis represented CanTex on both the purchase and lease, while Stream’s Eric Crutchfield represented Hill & Smith.

Lone Star Transportation signed a 62,597-square-foot lease at 1100 Northway Drive in Fort Worth. Transwestern’s Jeff Givens and Todd Hawpe represented the landlord, Northbrook 820, LLC.

Southwestern Petroleum Lubricants signed a 50,000-square-foot industrial lease with Mercantile Partners, located at 3401 Quorum Drive. Transwestern’s Billy Gannon and Jeff Givens represented the tenant.

Moderno Porcelain Works signed a new 15,000-square-foot lease at 1216 Security Drive in Dallas. Transwestern’s Clayton Johnson represented the tenant.

Enterprise Products Operating has leased 8,640-square-feet of industrial space at 103 BPR Lane in Aledo from CUDA Solutions Co. Nick Talley, and Brandon Alexander with Dallas-based Bradford Commercial Real Services represented the landlord in the direct deal.

LAND DEVELOPMENT

The T. Boone Pickens YMCA .096-acre development site at 1516 Ross Ave. in downtown Dallas has been listed for sale. Before the COVID, the YMCA Board of Directors were entertaining a handful of offers, but sales efforts were temporarily postponed due to the pandemic. JLL has relaunched the marketing for the site. Michael Swaldi and Jonathan Carrier of JLL’s Capital Markets team will lead marketing efforts on the site.

Plano’s Market Square has sold to Houston-based Triten Real Estate Partners. The firm plans to redevelop the 316,000-square-foot outlet mall into a mixed-use project. The mall is located on 28.4 acres at the northeast corner of K Avenue and E. Spring Creek Parkway. Daniel Eng and Calvin Wong of ENGVEST represented the owner, Matthew Loh. Dan Zelster of SHOP Cos. represented the buyer.

MULTIFAMILY

Sparrow Partners have filed a permit to construct a four-story apartment project at Sparrow Senior Living in Sachse. Construction on the $22 million project will begin in August and is anticipated to be completed by October 2022. Florida-based Fugleberg Koch is leading design.

OFFICE

Independent Financial has filed a permit to build a $48.5 million six-story office building at 7777 Henneman Way in McKinney. Construction was scheduled to begin in January and will complete in 2021. SmithGroup is leading design.

Van Trust Real Estate has filed a building permit to construct a four-level, 115,000-square-foot building at 6705 TPC Drive in McKinney. The $15.5 million project will start construction in May and complete in 2022. Corgan Associates is leading design.

The 15-story Oak Cliff Tower has sold to Jim Lake Companies. Located at 400 S. Zang Blvd., major tenants include Bank of America and the State of Texas Comptroller. The developers plan to upgrade and replace aging infrastructure, as well as bring the top floor back to an entertainment room.

ETS Celina has filed a permit to construct a 30,000-square-foot office warehouse at 1922 Choate Parkway in Celina. Construction on the $3 million project will begin in March and complete in 2022. Bannister Engineering will lead design.

Firstsource Healthcare has leased 50,000-square-feet at the 3100 Olympus office building in The Sound in Cypress Waters in Coppell. Colliers’ Mia Jarrell, Travis Ewert, and Dylan Smith represented the tenant, and Colliers International’s Jihane Boury, Mary Stoner, and Stephen Rury represented the sublandlord.

Catapult Health
Catapult Health

Catapult Health, the leading national provider of employer-sponsored preventive checkups, has signed a new 30,656-square-foot office lease in The Offices at Prestonwood Place at 5294 Belt Line Road in Dallas. The company is relocating from its previous location at 8144 Walnut Hill Lane. Transwestern Principal Michael Griffin provided tenant advisory services to Catapult Health. Trey Smith, Lauren Napper, and Ward Eastman with CBRE represented the landlord, Northwood Investors LLC.

MOS Insurance Agency has leased 7,178 square feet at Stewart Creek Business Center II, 5750 Genesis Court in Frisco. Justin Venteicher with Phillips Commercial Realty represented the landlord. Kelly Lyons and Carley Keiser with TIG Real Estate Services represented the tenant.

Slack Davis Sanger signed a new 5,934-square-foot lease at 3500 Maple Ave in Dallas. Transwestern’s Jordan Wade and Nora Hogan represented the tenant.

TTKA signed a new 5,120-square-foot lease at Providence Towers located at 5001 Spring Valley in Dallas. Transwestern’s Kim Brooks, Justin Miller, and Scott walker represented the building owner, KBS.

Viva Home Health Services dba Elara Caring renewed 5,015 square feet at 1333 Corporate Drive in Irving for 5 years. Ben Goldthorpe and Alex Foley with Swearingen represented the tenant and Allison Fannin represented the landlord, Hartman Income REIT.

Skin Pharm TX has leased 3,655-square-feet of office space at 3131 Turtle Creek Blvd. in Dallas, from STRS Ohio TX Real Estate Investments. Jared Laake of Bradford Commercial Real Estate Services represented the tenant. Trey Smith and Lauren Napper of CBRE represented the landlord.

Prodapt North America renewed 3,634 square feet at 1333 Corporate Drive in Irving for three years. Allison Fannin represented the landlord, Hartman Income REIT.

3749 Josey Lane in Carrolton

Tedeco Properties has purchased a 3,000-square-foot office and showroom space at 3749 Josey Lane in Carrolton. Scott Acelrod with Henry S. Miller Brokerage negotiated the sale. R&M Wessler, of Plano, was the seller.

RETAIL

PMST Management Group signed a new 15,054-square-foot retail lease at 6101 Windhaven Parkway in Plano. Transwestern’s Michael Griffin represented the tenant.

Greater Dallas Orthopedics signed a lease extension for 6,363 square feet at 12230 Coit Road in Dallas. Transwestern’s Chris Lipscomb and Laney Underwood represented the landlord, Anchor Healthcare Properties.

MUTTS Canine Cantina is headed to Waters Creek in Allen, according to state filings. A permit was filed to build a 3,863-square-foot dog park and ice house combo at 1070 Watters Creek Blvd. Construction on the $1.275 million project will begin in March with plans to open in September 2021. Pavan Shree is the listed designer.

North Texas Pharmacy has leased 1,330 square feet at Virginia Commons Plaza, 2741 Virginia Pkwy. in McKinney. Chris Flesner and Mai Nguyen of RESOLUT RE represented the landlord.

Newsletter

Sign up now to get breaking commercial real estate news and industry reports from the D CEO editors, plus on-the-ground insights from nearly 100 contributing editors across all sectors.

Comments