INDUSTRIAL/WAREHOUSE
Ascendant Commercial has purchased 46.25 acres of undeveloped land for industrial use in Fort Worth. The land is located on the northwest corner of I-35 and Highway 1187 in the South Fort Worth submarket. This is the first phase of an approximately 130-acre, multi-phase commercial industrial park, which will ultimately deliver an estimated 2.2 million square feet of institutional-grade logistics and distribution space. Ascendant will break ground on its first spec industrial warehouse in the summer of 2020. The first building will be an approximately 850,000 square foot distribution center, which will be the largest spec development in the growing south Fort Worth area. The building is expected to be delivered in May 2021.
Courtland Development broke ground on a new speculative industrial building at Mountain Creek Business Park. The 76,335 square foot property, known as Mountain Creek 9, will be located at 4972 South Merrifield Road, just off Mountain Creek Parkway.
Sedgwick leased 29,237 square feet at 10th Street Business Park, 1800 10th Street, in Plano. Ryan Wolcott, James Mantzuranis, and Matthew Dornak with Stream Realty Partners represented the landlord, Link Industrial. Brian Gilchrist, with CBRE, represented the tenant.
PGS 360 leased 26,000 square feet at Parc North in Fort Worth. Stream Realty Partners’ Seth Koschak, Forrest Cook, and Brett Carlton represented the landlord, Eastgroup Properties. Collier’s Liam Logan represented the tenant.
The Fort Worth Star-Telegram leased 22,000 square feet of industrial office space at 6314 Airport Fwy in Fort Worth. Stream Realty Partners’ Forrest Cook represented the tenant and Transwestern’s Leland Prowse, and Gibson Duwe represented the landlord, Barnard Partners.
Elliott Electric Supply leased 20,207 square feet at Jupiter/190 Business Park, 2700 Summit Ave., in Plano. Ryan Wolcott and James Mantzuranis with Stream Realty Partners represented the landlord, Link Industrial. Nick Lee, with NAI Robert Lynn, represented the tenant.
System Electric Co. leased 18,211 square feet at 3301 E. Plano Parkway in Plano. Jarrett Dunaway and Tyler Clutts, of esrp, represented the tenant. Brett Lewis and George Tanghongs, of Lee & Associates, represented the landlord.
United Refrigeration leased 18,060 square feet at 701 109th St. in Arlington. Jarrett Dunaway, of esrp, represented the tenant. John Brewer, of Transwestern, represented the landlord.
Bruce Long purchased a 14,023 square foot office and warehouse on 4.08 acres at 4325 Dale Earnhardt Way in Northlake. Chad Montgomery, Associate, and Dan Spika, SIOR, Executive Vice President and Principal, both of the Industrial Division for Henry S. Miller Brokerage represented the buyer. Chuck Horton with The Michael Group Real Estate represented the seller, 13415 Cleveland Gibbs, of Flower Mound.
Dynamic Auto Collision Repair, a 12,633 square foot property at 3908 Broadway Ave. in Fort Worth, has sold. Adam Abushagur, senior vice president investments with Marcus & Millichap, and Cliff Zimmerman, associate, represented the seller, a private investor.
OFG, LLC leased 12,000 square feet at 3333 East Loop 820 South, Fort Worth. Matt Carthey and Thomas Grafton with Holt Lunsford Commercial represented the landlord, Johnson Properties.
Lennox Industries has renewed 9,683 square feet of warehouse space in Falcon Centre, 1707 Falcon Dr., DeSoto. Brian Pafford and Michael W. Spain, executive vice presidents and managing partners of Bradford Commercial Real Estate Services, represented the landlord, Owen Bros. Enterprises, in the direct deal.
Prosper Machine Tool renewed its lease of 9,200 square feet at Courtyard at Midway, Richland Hills. George Jennings and Hogan Harrison, with Holt Lunsford Commercial, represented the landlord, Agarita. Michael Newsome, with NAI, represented the tenant.
Drucker Labs leased 8,353 square feet at Palisades Industrial Park, 1600 Capital, in Plano. Ryan Wolcott, Matt Dornak, and James Mantzuranis with Stream Realty Partners represented the landlord, Link Industrial. Henry Knapek, with Transwestern, represented the tenant.
Hydraulic Hose of Love Field leased 5,625 square feet at 2126 Irving Boulevard in Dallas. Samuel Hartley and Stephanie Jacobs of RESOLUT RE represented the tenant. Hanes Chatham of Stream Realty represented the landlord.
Thirty acres of land in Rockwall on airport road was sold. The buyer, a private investor, was secured and represented by Adam Abushagur, first vice president investments in Marcus & Millichap’s Dallas office.
MIXED USE
RED Development sold Union Dallas to KB Asset Management for $370 million. JLL represented the seller and worked on behalf of the Korean buyer. RED Development will retain a minority interest in the property and will continue to manage and lease the development. The buyer was advised by HC2 Capital.
MULTIFAMILY
Villas Del Sol and Wedgewood, two communities that total 104 and 118 units respectively and are located in the same neighborhood just one-half mile apart from one another in Fort Worth, have sold. Al Silva, Senior Managing Director Investments in Marcus & Millichap’s Fort Worth office, represented the seller, a Dallas-based limited liability company. The buyer, a private investor, was also secured by Silva along with Dan Mullen, Associate in Marcus & Millichap’s Fort Worth office, and a member of the Silva Multifamily Team.
OFFICE
Bradford Commercial Real Estate Services has completed five leases for boutique office space in the recently renovated Highland Park West, one of the few office buildings with a Highland Park address. The freshly signed deals, totaling 14,687 square feet, represent a 28.3 percent uptick in occupancy at 4300 MacArthur Ave. Four of the five will be new tenants in a two-story garden-style building. Tenants include:
- Carter & Co. leased 7,205 square feet of office space from 4300 MacArthur Partners LP. Jared Laake, vice president of Bradford Commercial Real Estate Services, and Richmond Collinsworth, first vice president, represented the landlord. Jeremy Gray of Gray & Co. Realtors Inc. represented the tenant.
- Gray & Co. Realtors Inc. leased 3,158 square feet of office space from 4300 MacArthur Partners LP. Jared Laake, vice president of Bradford Commercial Real Estate Services, and Richmond Collinsworth, first vice president, represented the landlord. Jeremy Gray of Gray & Co. Realtors Inc. represented the tenant.
- Green Brick Title LLC leased 2,790 square feet of office space from 4300 MacArthur Partners LP. Jared Laake, vice president of Bradford Commercial Real Estate Services, and Richmond Collinsworth, first vice president, represented the landlord in the direct deal.
- Terry Hallmark LPC renewed 1,024 square feet of office space from 4300 MacArthur Partners LP. Jared Laake, vice president of Bradford Commercial Real Estate Services, and Richmond Collinsworth, first vice president, represented the landlord in the direct deal.
- Rio Petro leased 510 square feet. Jared Laake, vice president of Bradford Commercial Real Estate Services, and Richmond Collinsworth, first vice president, represented the landlord in the direct deal.
Bottleless Water Solutions leased 3,980 square feet of office flex space in One Paddock Place, 2214 Paddock Way, Grand Prairie, from Paddock Partnership. Jim Ferris, vice president of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president, and managing partner, represented the landlord. Arthur White of SVN|Dunn Commercial represented the tenant.
Bob Leonard Law Group has renewed its lease of 2,587 square feet at Mallick Tower. Geoff Shelton and Marshall Mays with Holt Lunsford Commercial represented the landlord, Mallick Tower.
Ibarra, Jackson & Cartwright renewed its lease of 1,715 square feet at Mallick Tower. Geoff Shelton and Marshall Mays with Holt Lunsford Commercial represented the landlord, Mallick Tower.
Mark Benson renewed his lease of 1,698 square feet at 2525 Ridgmar, Fort Worth. Geoff Shelton and Marshall Mays with Holt Lunsford Commercial represented the landlord, Happy State Bank.
Painter & Johnson Financial renewed its lease of 634 square feet at 2525 Ridgmar, Fort Worth. Geoff Shelton and Marshall Mays with Holt Lunsford Commercial represented the landlord, Happy State Bank.
RETAIL
Henry S. Miller’s Stephen A. Scott, CCIM, negotiated a $4.44 million construction loan for the 16,500 square foot phase two of the Shops of Hudson Oaks, located at 2950 Highway 180 in Hudson Oaks. The shopping center is 85 percent pre-leased with tenants, including Orangetheory, Nothing Bundt Cakes, and R and K Cafe.
Lionhead investors purchased a 5,000 square foot retail property at 2804 NE 28th St in Fort Worth. Stream Realty Partners’ Forrest Cook represented the buyer, and Transwestern’s Todd Hawpe and Ben McBroom represented the seller, Western Capital.
