Deal Ticker: Massive Hyatt Resort Heads to Lake Ray Hubbard Project

Share your top deals by emailing Real Estate Editor Bianca R. Montes at [email protected].

The $1 billion master-planned Sapphire Bay development will welcome Hyatt to operate its resort and conference center. Set to be located on the Sapphire Bay Peninsula and expected to open in fall 2023, the resort will join Hyatt’s Destination Hotels brand and showcase more than 500 guestrooms, suites, and villas, each with waterfront views overlooking Lake Ray Hubbard and the seven-acre man-made Sapphire Bay Lagoon.



The lead architect for the resort is 5G Studio Collaborative. Brian Bridgewater, P.E. with Manhard Consulting is the project’s civil engineer, and Lifescapes International will design the landscaping and tropical garden environments. DuWest Realty will handle project leasing. Cleartide Management Group is an operational design and programming consultant and management for the Sapphire Bay Surf Village. Construction of the resort will begin in fall 2021 and is anticipated to be complete for an exciting grand opening in the fall of 2023.

INDUSTRIAL/LAND

P&H Casters has filed permits to build 173,385 square feet of office and warehouse space at 807 West Harris Road in Arlington. Construction on the $10.3 million project will begin in April.

Sunrise Wood Designs, a cabinetry supplier for luxury and volume homebuilders in North Texas, has grown its manufacturing facility in South Dallas (8801 Autobahn Drive) with a lease expansion to 167,405 square feet. Baron Aldrine and Michael Chiocca with CBRE represented Sunrise Wood Designs in lease negotiations. An outside firm represented the landlord.

Micropac Industries has filed permits to build a 76,856-square-foot manufacturing facility at 1655 State Highway 66 in Garland. MJDII Architects will lead design on the $18 million development. Construction will end in Summer 2022. 

Exegistics Government Solutions renewal its 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. Sean Smith and Jade Scott of Whitebox Real Estate represented the tenant.

A 30,000 square foot warehouse will be built in the Sun Valley Industrial Park Building A at 4924 Kal Tenbrun Road in Fort Worth. Construction on the $2 million project has begun. Droese Raney Architecture will lead design.  Also an 18,000 square foot warehouse will be built in the Sun Valley Industrial Park Building B at 4924 Kal Tenbrun Road in Fort Worth. Construction on the $1.8 million project began in February. Droese Raney Architecture is also leading design. 

Allied Wire & Cable leased 23,507 square feet at 1051 Mustang Drive in Grapevine. Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the landlord, Clarion Partners. Corby Hodgkiss with Mercer Company represented the tenant.

NCAB America signed a 22,362 square feet lease at 710 107th Street in Arlington. Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the landlord, Humphrey’s Capital. Riley Maxwell of Transwestern represented the tenant.

North Dallas RV Inc.’s original owner has sold its 1.2-acre tract along North Interstate 35E to a local businessman, who will retain the site’s grandfathered zoning by maintaining the operation as-is. North Dallas RV is located at the Frankford Road exit of North I-35E in Carrollton. The industrial site, housing a 5,940-square-foot office/warehouse, boasts 275 feet of frontage along the interstate’s service road. Jason Finch and Brian Pafford, of Bradford Commercial Real Estate, represented the seller. Rich Young Jr. of the Rich Young Co. represented the buyer.

Permits have been filed to build Phase 1 of the Lewisville Business Center on Round Grove Road in Denton. Construction on the 28,600 square foot flex-warehouse will begin in April and take about two years to complete. Michael F Twichell LP will lead design on the $2 million project. 

STD Solutions signed a new 7,954 square foot lease at 5535 Airport Freeway in Haltom City. Ben Crancer, Evan Hammer, and Jade Scott represented the Tenant, STD Solutions, Inc on the transaction, and Steve Relyea of The Relyea Company represented the Landlord.

Texan Food Service has leased 5,000 square feet of flex space at 10500 Metric Drive from Tyler Family Real Estate Investments.  Jason Finch, Noah Dodge, and Brian Pafford with Bradford Commercial Real Estate represented the direct deal’s landlord.

Brio Nutrition has leased 2,000 square feet of flex space in Hackberry Business Park, 207 King Road in Frisco, from Americo Hackberry. Jason Finch of Dallas-based Bradford Commercial Real Estate Services represented the landlord in the direct deal.

MULTIFAMILY

Permits have been filed for Phase 3 of the Trinity Groves development at 500 Singleton Boulevard in Dallas. The 505,529 square foot development will include 368 units, as well as a 154,000 square foot parking garage. Construction on the $43.7 million project is set to begin this summer and end September 2022. JHP Architecture will lead design. 

Pulte Homes purchased 18 acres at 5001 Zion Rd. in Garland from Oasis Church with plans to build 90 single-family lots in a project called Bridgewater. Younger Partners’ Jack Gail represented the buyer. Church Realty’s John Muzyka represented the seller. The vacant land was originally zoned for commercial use, with Oasis Church purchased the land with plans to build a new church facility. The church found an existing building and opted to sell the land.

Marbletree Apartments, a 416-unit garden-style multifamily asset at 4057 North Belt Line Road in Irving, has sold. Newmark’s Jakob Andersen and Brian O’Boyle, Jr. represented the seller, LumaCorp, in the transaction to buyer, privately held real estate investment company GoodLife Housing Partners (GoodLife HP). Financing for the purchase was provided by Ready Capital and placed by Newmark Vice Chairman Deverick Jordan, MAI, FRICS, and Associate William Hairston.

Somerset, a 372-unit multifamily asset in Lewisville, has sold. Institutional Property Advisors reps Joey Tumminello, Will Balthrope Asher Hall, in collaboration with Marcus & Millichap’s Bard Hoover and Nick Fluellen, represented the seller, LumaCorp, and procured the buyer, Western Wealth Capital.

Fielder’s Glen, a 220-unit apartment property built in 1985 in Arlington, has sold. Marcus & Millichap’s Al Silva represented the seller, a private Colorado-based partnership, and procured the buyer, a Canadian-based private investment company.

The Union at River East, a multifamily asset with 181 apartments and nine live-work units with ground-floor retail in the River East neighborhood of Fort Worth, has sold. Institutional Property Advisors reps Joey Tumminello, Will Balthrope, and Grant Raymond represented the seller, Criterion Development Partners, and procured the buyer, MBP Capital.

OFFICE

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

Arlington Police Department has purchased A dormant property in the Arlington Entertainment District For a police substation, evidence storage, and crime lab facility. The 41,680-square-foot structure, developed in 1984, is positioned on nearly five acres at 1715 E. Lamar Blvd., directly across the street from Hurricane Harbor. The class B retail building originally housed a Safeway grocery store and later functioned as an antique mall and tearoom. There is a 250-space parking lot, amply large enough to meet city needs. Clint Holland with SkyWalker Property Partners brokered the sale for the seller of record, Take the Lamar Way Home.

Freese and Nichols moved its headquarters to Burnett Plaza in downtown Fort Worth, relocating 300 of the firm’s almost 1,000 employees. The new headquarters occupies three full floors at Burnett Plaza, a 40-story office tower. Freese and Nichols’ previous headquarters was at International Plaza in southwest Fort Worth.

S&C Family Limited Partnership purchased the 8,509-square-foot office building at 2004 Ventura Drive in Plano. Troy Morgan and Rob Exline of Structure Commercial negotiated the sale.

Raymond James, a leading American investment bank and financial services firm, leased 7,000 square feet at The Offices Two at Frisco Station, a 242-acre mixed-use development. Raymond James plans to move in during summer 2021. VanTrust Real Estate is the office developer at the site.

Mitsui Bussan Logistics leased 4,673 square feet at 1707 Market Place Blvd in Irving for three years. Duane Henley with Transwestern represented the tenant, and Allison Fannin represented the landlord, Hartman Income REIT.

Edward Jones leased 1,225 square feet of office space at 1900 Matlock Road in Mansfield. Court Powell of Structure Commercial negotiated the lease.

RETAIL

Jeesung Investment purchased the 133,283-square-foot shopping center at 1900 Oates Drive in Mesquite. Eric Deuillet and John Hiller of Structure Commercial negotiated the sale.

RCI Holdings purchased the 12,482-square-foot freestanding restaurant on 2.26-acres at 701 North Watson Drive in Arlington. Troy Morgan and Rob Exline of Structure Commercial represented the buyer and David Zoller and Corbin Tanenbaum of Weitzman Group represented the seller.

The Lakewood community is gaining three new businesses in the Hillside Village shopping center located at Mockingbird Lane and Abrams Road: Vie Nail Bar, Froggie’s 5 & 10, and The Lash Lounge.

Super Splash Care Center will open a 4,680 square foot self-service car wash at 420 Preston Road. Construction on the $1.2 million project will end this December. Classic Design Group will lead design.  

Sparky’s Car Wash has filed permits to build a new site at 451 E University Drive in McKinney. Construction on the $1.5 million project will wrap up in November. Ward Architecture Pllc. Will design the 4,162-square-foot building. 

Bikram Yoga leased 3,906 square feet of retail space at 240 N. Main Street in Grapevine.  Eric Deuillet of Structure Commercial negotiated the lease.

Infusion Beer and Wine leased 2,267 square feet of retail space at 3940 Rosemeade Parkway in Dallas. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

Bonchon Korean Fried Chicken has leased 2,200 square feet at 4980 Belt Line Road in Addison. It is the seventh Texas location and the second Dallas area location joining The Colony, with more openings on the way.

Panther Creek Dental has leased a 1,800-square-foot office at the Shops at Panther Creek in Frisco. They are the first tenant at the shopping center, located at the northwest corner of Panther Creek and Hillcrest. Bright Realty’s Britton Lankford, Nick Miller, and Dan Looney represented the landlord. The tenant was represented by Albert Miles at Xite Realty.

Farmers Insurance leased 1,250 square feet of retail space at 6728 Vickery Blvd. in Ft. Worth.  Jake Burns and Court Powell of Structure Commercial negotiated the lease.

Action Family Care leased 1,243 square feet of retail space at 3100 Independence Square in Plano. Jeremy Cummings and Eric Deuillet of Structure Commercial negotiated the lease.

Zen Pedi Spa leased 1,100 square feet of retail space at 1071 Country Club Drive in Mansfield. Troy Morgan of Structure Commercial negotiated the lease.