This Week’s Dallas-Fort Worth Deal Sheet (June 6, 2020)

The Dallas-Fort Worth suburb of Westlake holds and continues to attract large corporate tenants.

Courtesy of the Solana Terraces

The decks on the Solana office campus in Westlake, Texas.

The insurance agency Goosehead Insurance currently occupies a total of 150,000 SF in the office development The Terraces at Solana and is expanding its existing headquarters at the location by 42,000 SF.

The agency now occupies entire Building 4 and the fifth floor of Building 1 at 1500 Solana Blvd. The company first moved to campus three years ago, initially occupying SF 62,000 and expanding to SF 108,000 in 2018.

CBRE’s Josh White, Chelby Sanders and Ryan Buchanan represented Goosehead during the negotiations, while JLL’s Jeff Eckert and Blake Shipley represented landlord Glenstar.

EXECS

Stream Realty Partners this week named Seth Koschak and JJ Leonard partners in Dallas-Fort Worth.

Leonard joined Stream in 2015, overseeing the company’s office leasing team. During his time with the company, he expanded the company’s office portfolio from SF 8.1 million to SF 16.1 million.

Koschak has been on the industry team for 11 years and left the Dallas office five years ago to open Stream’s Fort Worth office as general manager.

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Courtesy Weitzman

Fitness Connection signs a lease for Denton’s Golden Triangle Mall.

LEASES

Health Club Fitness Connection has rented SF 55,000 of retail space in the Golden Triangle Mall in Denton. The growing health club offers memberships at prices as low as $ 10 per month.

The Golden Triangle Mall is managed and leased by Weitzman and has recently undergone major renovations.

Steve Greenwood and Byron Howard from Weitzman negotiated on behalf of the mall, while Susan Ridley and Sherman Hinkebein from The Retail Connection represented the tenant.

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Asset management and investment firm Stifel signed a $ 20,000 lease at Harwood No. 10 in the Harwood District of Dallas. The company will consolidate its Dallas Private Client Group offices within the building. Cushman & Wakefield’s Cribb Altman, Scott Shelbourne and Mike Wyatt negotiated terms and conditions with Harwood’s Kelly Whaley and Hannah Waidmann.

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Amcor Rigid Plastics USA Inc. has increased its lease at 4100 Fleetwood Road in Fort Worth to SF 270,000. Campios David Stechly and Greg Kloiber represented the tenant, while Matthew Smith from ML Realty Partners represented the landlord.

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Corrugated Partners leased 15,000 SF industrial space in the Interstate 30 Distribution Center at 920 113th St. in Arlington. Patrick Embry from NAI Robert Lynn represented the tenant.

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Lexitas renewed and expanded its lease in the Republic Center in the central business district of Dallas to SF18,000. Trae Anderson and Kathy Permenter from Younger Partners represented the landlord, while Conor McCarthy and Maggie Birnbach from JLL represented the tenant.

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Tax and accounting firm Mazars USA LLP opened its first Texas office in Dallas last month when it moved into 100 Crescent Court.

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Enchiladas Ole’s Mexican restaurant has signed a lease for a second location in DFW at 9005 North Tarrant Parkway in North Richland Hills. Austin Speni from JLL represented the tenant.

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ACQUISITIONS

A joint venture formed by Tucker David Investments and Wynne / Jackson bought 182 acres in Royce City to build a 755-home estate known as Creekshaw.

The site will be expanded in three phases. Core investment partners are also involved in the project, represented by Paul and Ben Pogue.

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Vision Commercial Real Estate’s Clint Renfro negotiated the sale of 2929 Alta Mere and 6300 Shady Oaks Manor in Fort Worth and signed a lease with Sleep Smart at 5101 Davis Blvd. in North Richland Hills. Vision Commercial represented the buyer of the Alta Mere site, while the seller himself was represented.

Re / Max Achievers Robbie Renfro represented the buyer of the Shady Oaks Manor property, while Vision Commercial represented the seller.

In the leasing transaction, Vision negotiated for the landlord and the buyer was represented.

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Courtesy Shanks Architects

A depiction of the Melissa United Methodist Church building under construction.

CONSTRUCTION / ARCHITECTURE

Melissa United Methodist Church has a new worship center and kindergarten under construction. The project was designed by Shanks Architects with Project Advocates as project manager and the foundation stone was laid with Talley Riggins Construction Group, who led the expansion process.

The worship center and kindergarten will be completed early next year. The site will provide a flat worship space, movable seats for up to 329 people, and six disabled seats in the sanctuary.

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A SF 103,000 office building under construction as part of Centurion American’s Mercer Crossing mixed-use project in Farmers Branch is expected to deliver in December.

Kathy Permenter and Garrett Marler of Younger Partners have been selected to rent the new building known as the Three Hickory Center, located on 5 acres at 1801 Whittington Place in Farmers Branch. The building will deliver its interiors in a shell condition so that tenants can make their own designs and tenant improvements.

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Home builder Megatel Homes acquired 29 acres in Mansfield to build a US $ 40 million residential project with 112 single-family homes.

The development known as Mitchell Farms will offer homes in the range of 1,700 SF to 4,500 SF with a maximum market value of $ 450,000 and a minimum value of $ 280,000.

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Yo Quiero! Brands recently opened a 45,000 SF distribution facility in Rhome, a small town west of Dallas, in North Texas. The distribution facility is part of the company’s continued expansion as it continues to sell low-volume guacamole, salsa, and queso products in the United States and Mexico.

The company also opened a new plant in Mexico.

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Bisnow

Allen was founded as a city in the early 1950s and has doubled its population in the past 20 years.

THIS OR THAT

Allen City Council has approved a $ 3 million small business grant program to help businesses in the city suffering closings and other emergencies during the coronavirus crisis. Allen Economic Development Corp. announced the program on Monday, noting that Collin County will provide funding under CARES federal law.

The application process for grants starts June 24th and lasts until June 30th.

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