This week’s Dallas-Fort Worth trade sheet (January 1, 2022)
A 10-story office building is expected to open in Dallas’ Design District in the third quarter of 2023.
Courtesy of Transwestern
thirteen thirty three
Thirteen Thirty Three is the first new office building to come to the Design District in decades, per Transwestern. The 120K SF building at 1333 Oak Lawn Ave. in Dallas is developed by Quadrant Investment Properties, a Texas-based real estate investment firm, and FCP, a Maryland-based private real estate investment firm.
“For some time now, we’ve felt a shift in the way office users approach their space needs, with a greater focus on retaining the culture of their companies,” said QIP’s founder, Chad Cook, in a statement. “We believe there is significant demand for a smaller-scale office building that still offers the full non-market amenities offering. Thirteen Thirty Three is the culmination of this thought process.
Transwestern’s Paul Wittorf, Kim Brooks, Laney Underwood and Natalie Serio will oversee leasing of the property, which includes nearly 118,000 square feet for office users, according to the release. Thirteen Thirty Three will also include nearly 11K SF of amenities and a ground floor restaurant.
“The momentum and energy in the Design District is palpable, and we’re excited to bring a differentiated project to Dallas that empowers businesses to innovate and foster a strong culture,” said Erik Weinberg, director of the FCP, in a press release.
Realty Capital Partners, a Dallas-based commercial real estate private equity firm, has named James Mangum as its new vice president of acquisitions. Mangum previously worked at Edge Capital Markets.
KAI Design has appointed Charles Hoffmann as Senior Project Architect for its DFW office. Hoffman brings over 35 years of experience in design, production and construction administration to this new role, where he will be responsible for functional space planning, development of design and construction documents. He will also work with KAI’s multidisciplinary team to maintain design continuity and constructability of projects.
SkyWalker Property Partners has promoted William Welder to director of acquisitions and capital. Rachel Marion has been promoted to Director of Accounting and Marijke Van Stichel has been promoted to Director of Administration and Property Accounting. The changes follow the retirement of the company’s longtime Chief Operating Officer, Carol Coffman-Sosebee, and the departure of longtime Acquisitions Director Clint Holland, who left to start his own company. .
Courtesy of Disney Investment Group
Disney Investment Group negotiated the sale of Sylvan Thirty, a 47K SF mixed-use shopping center anchored by a grocery store on the northeast corner of Interstate 30 and Sylvan Avenue in Dallas. David Disney and Adam Crockett of DIG represented the seller, an affiliate of Oaxaca Interests, and recruited the buyer, an affiliate of Crow Holdings Capital.
Disney Investment Group has negotiated the sale of Craig Crossing, a more than 128,000 square foot shopping center located on the southwest corner of Central Expressway and Eldorado Parkway in McKinney. David Disney and Adam Crockett of DIG represented the private seller and recruited the buyer, ALTO Real Estate Funds.
Disney Investment Group brokered the sale of Lewisville West, a more than 129,000 square foot retail center anchored in a grocery store on the northwest corner of Interstate 35E and Fox Avenue in Lewisville. David Disney and Adam Crockett of DIG represented the private seller and recruited the buyer, Newport Capital Partners.
Henry S. Miller Equity Partners represented Oakmont Land Six LP in the sale of Main Street Crossing, a 24K SF shopping center at 615 Main St., Frisco. Frank Bullock, Michael Gresback and Maury Levy negotiated the transaction on behalf of Henry S. Miller Equity Partners. Tim Axelrod of ShopCos. represented the purchaser, Main STX LLC.
MAG Capital Partners has sold an industrial portfolio of three buildings across Texas to an Israel-based real estate fund for an undisclosed price. One of the properties is a 137K SF building located in Dallas at 1100 Plano Road. The sites are occupied by Cameron Ashley Building Products Inc., a two-stage national distributor of roofing, insulation, drywall, siding and other specialty building products. Led by Dax directors TS Mitchell and Andrew Gi, MAG Capital Partners was represented by Chelsea Mandel, Jonathan Wolfe and Jordan Shtulman with Stream Capital Partners, who also secured the buyer.
Thor Equities Group has sold McKinney’s Logistics Center Building A to real estate investment firm AC Industrial LLC. The nearly 130K SF spec building sits on 65 acres at 3601 North McDonald St. in McKinney. Stream Realty Partners represented the joint venture with Morgan Stanley in the sale of the building. Bob Hagewood, senior vice president of Stream Dallas, and Ryan Wolcott, vice president of the industrial division of Stream Dallas, will oversee the leasing and management of the property. Thor Equities is open for sale or rental of Building B, which can accommodate one tenant or be subdivided for multiple uses.
BV Archway Real Estate Income Fund has acquired GEODynamics Inc.’s manufacturing facility at 10400 West Interstate 20 in Millsap. The more than 57,000 square foot structure sits on more than 10 acres of land adjacent to the company’s headquarters.
CONSTRUCTION & DEVELOPMENT
Texas-based workspace innovation company Vari and Adolfson & Peterson Construction celebrated the crowning achievement of VariSpace Coppell. The facility, located at 450 North Freeport Parkway, Coppell, will serve as the company’s headquarters and is expected to open this summer. The 180K SF building will include 120K SF for tenants. BOKA Powell designed the core, shell and site. Corgan Architects designed the interiors of the building.
Anthem Development, a Beck Ventures company, has opened Miles One 90, a 398-unit luxury apartment community at the President George Bush Turnpike and Miles Road in Sachse. The $65 million project closed last month. Anthem brought in Nova Capital, a Southern California-based real estate capital advisory firm, to arrange capital and debt. For development, Anthem partnered with a multi-billion dollar institutional investment fund. Steven Yazdani, founder and managing director of Nova Capital, led the transaction.
Culby Culbertson with Terrydale Capital has arranged a $13.2 million loan for an undisclosed buyer to purchase a multi-family property in Midlothian. The loan was arranged through one of Terrydale Capital’s correspondent banking relationships.
THIS AND THAT
Cushman & Wakefield has been appointed exclusive leasing agent for three new industrial properties near the Dallas-Fort Worth airport. Buildings 2, 3 and 4 of the DFW Commerce Center are under construction and are expected to be completed by November. Properties include rental space ranging from 200K SF to 1M SF. Kurt Griffin and Nathan Orbin of Cushman & Wakefield will represent the developer and owner, CLX Ventures, in leasing the new buildings. The properties are phase 2 of the existing industrial park. DFW Commerce Center Building 1 was completed in October 2018 and sold in December 2020.