NewsTalk Texas

Dallas-Fort Worth-Arlington

92 Year Old sold! Downtown Dallas office rebirth to hotel 

(10/1/2014 7:24:00 AM)

DALLAS - The 92-year-old 1700 Commerce office building in downtown has been sold for the first time in 20 years.

Built in 1926, the 132,218-sf building was originally constructed as the Allen Building, and cost $1.5 million. Boxer purchased the property 70 years later for $525,000.

The property is located across the street from Neiman Marcus’ flagship downtown store.

Boxer Property, which purchased the 21-story building in 1992, sold 1700 Commerce to Irving-based hotel firm NewcrestImage LLC.

NewcrestImage owns and operates more than a dozen hotels, with five properties under construction and more in planning stages.

Read more at the Dallas Morning News.

Farmers Branch: Billingsley to kick off 260,000-SF building 

(10/1/2014 6:59:00 AM)

FARMERS BRANCH - Developer Billingsley Co. is set to break ground on another 260,000-sf industrial building in its Mercer Business Park on LBJ Fwy.

The construction of its second industrial project in the business park is being launched with a lease to ViaTech, a printing company.

ViaTech will take 75,000 sf and will move its operations from Billingsley’s Metropolitan Distribution Center in late 2015.

Billingsley’s first warehouse in the project is a 340,000-sf building that will house Reliable Sprinkler and Paragon Distributing.

The 225-acre Mercer Business Park is located at the northwest corner of LBJ Fwy. and I-35E.

Read more at the Dallas Morning News.

JLL report: Downtown Dallas office leasing tops 

(10/1/2014)

DALLAS - Downtown Dallas has seen a big jump in office leasing this year, and a JLL's Office Statistics Q3 2014 report says that the Central Business District leads North Texas in net office occupancy gains.

Expanding and relocating tenants leased about 558,000 sf of office space downtown through third quarter 2014, more than five times the total downtown net leasing in all of 2013 and the highest office space absorption number downtown in years.

Far North Dallas — which includes the busy Dallas North Tollway corridor — was second on JLL’s top office market list, followed by Las Colinas and North Central Expy.

So far in 2014, net office leasing in the Dallas area totals 1.75 million sf.

Overall office vacancies in the Dallas area have dropped to 19.5 percent — the lowest level in more than a decade.

Downtown Dallas’ office market has been boosted this year by major leases by companies including Santander Consumer USA, Active Network and Omnitracs.

Read more at the Dallas Morning News.

For the full report, see JLL. For stats and info on office and more, see Dallas-Fort Worth-Arlington Market Data Sources.

MPF Research: DFW apartment demand strong 

(10/1/2014)

DALLAS-FORT WORTH - DFW continues to be one of the nation's top apartment markets, delivering thousands of apartments each month in an effort to meet demand.

In total, developers completed 6,228 apartments in third quarter 2014, and 16,193 apartments in the past 12 months, according Carrollton-based MPF Research.

Demand is keeping pace with construction. North Texas renters leased 5,860 additional apartments during 3Q 2014, and 15,961 apartments in the past year. The region's occupancy rate has reached a 13-year record high of 94.7 percent.

For the first time, North Texas' average rents have breached the $900 per month milestone, with average rent reaching $903 per month in 3Q 2014. The region's annual rent has grown nearly 3.5 percent.

The new apartments being delivered in the Dallas urban core are commanding monthly rents of $1,800 to $2,000. For downtown Fort Worth, the average rent is $1,600.

Nationally, apartment occupancy has reached 95.1 percent, with a 4 percent growth in annual rental rates, according to Dallas-based Axiometrics Inc.'s preliminary 3Q 2014 data.

Read more at the Dallas Business Journal.

Fort Worth: TCC lands Alliance in aviation education 

(9/30/2014 6:59:00 AM)

FORT WORTH - Tarrant County College (TCC) has opened a 163,500-sf aviation center at 2301 Horizon Dr. in the AllianceTexas development.

TCC invested approximately $20 million for its purchase, design and renovation and the cost of furnishing and moving programs from the Northwest Campus.

The Northwest Campus Center of Excellence for Aviation, Transportation and Logistics reflects the district’s desire to educate future pilots, aircraft mechanics and logistics professionals, which manage and track goods in and out of the state.

Bell Helicopter set the stage for the new facility by selling the district its 161,000-sf military programs facility in 2013.

The district paid about $5.2 million to purchase 20 acres at the airport, which now features the aviation and logistics learning center. More than 900 students are enrolled in the district’s aviation program this semester.

Read more at Tarrant County College and the Fort Worth Business Press.

72,000-SF senior living facility underway in Allen 

(9/30/2014)

ALLEN - Construction has begun on a 72,000-sf senior center near SH 5 and Bethany Dr.

The two-story center will offer 32 assisted-living units and 36 memory care units. The complex, which is being developed by Mesquite©\based Christian Care Centers, will also include 22 independent living cottages.

Completion is scheduled for August 2015. Once completed, Christian Care Centers will operate the facility.

The community is located on approximately five acres adjacent to, and donated by, the Greenville Oaks Church of Christ at 703 S. Greenville Ave.

Source: Adolfson & Peterson Construction

Underway: Plano Legacy Center kicks off 175,000-SF office 

(9/29/2014 9:00:00 AM)

PLANO - Cawley Partners has broken ground on Legacy Center, a four-story, 175,000-sf office building in Legacy Business Park.

Rents will start at $27.50 per sf, according to developer Bill Cawley.

The speculative office development is being built on 12 acres at the northwest corner of Legacy Dr. and Hedgcoxe Rd., east of the Dallas North Tollway.

The office development is scheduled for completion in August 2015 and will be priced lower than other recent projects in West Plano.

The announcement of Cawley Partner’s Plano project comes just a week after developer Granite Properties said it would start the next office tower in its Granite Park project on the Dallas North Tollway south of SH 121 in Plano. The 12-story, 306,000-sf Granite Park Five will be finished late next year.

Read more at the Dallas Morning News.

For more on Granite Park Five, see previous story 306,000-SF Granite Park Five underway in Plano.

Richardson: 360-unit Jefferson Center opens near CityLine 

(9/29/2014)

RICHARDSON - Jefferson Center, a 360-unit apartment community near the CityLine development, has been completed.

The one-, two- and three-bedroom homes range from 650 sf to 1,500 sf.

The new 30-acre apartment community gives residents a resort-style pool, two clubrooms, a coffee bar, grilling and cabana areas, beach volleyball courts, a dog park, playgrounds, and event lawn with an outdoor movie theater.

Jefferson Center was developed by Irving-based apartment builder JPI. It is one of a number of projects underway near State Farm Insurance's new regional hub in Richardson that will help provide housing for the company's workers.

Read more at the Dallas Business Journal.

Will Rogers Memorial Center $15M headed to Cowtown 

(9/29/2014)

FORT WORTH - Plans are in the making to launch construction in early 2015 on a $15.1 million renovation at the Will Rogers Memorial Center.

The project would ease pedestrian flow between the north and south ends of the complex.

The Fort Worth Stock Show, which calls Will Rogers home for its annual one-month run, is kicking in $6.5 million — or 43 percent — of the project cost.

The project will likely take until December 2015 to complete, just ahead of the 2016 Stock Show, according to Kirk Slaughter, Fort Worth’s public events director.

The project will extend Tower Dr. from the south side of Burnett-Tandy Dr., through the section of the building connecting Cattle Barns 1 and 2 that today houses the milking parlor, and to the parking areas south of the barns.

The milking parlor will move into Cattle Barn 2.

The promenade between the cattle barns will be covered, creating a shaded pedestrian walkway that will make it easy for exhibitors to move freely between the north and south sides of the Will Rogers complex. The walkway also could be used as space for major events.

Read more at the Fort Worth Business Press.

Fort Worth: Texas Wesleyan buys two shopping centers 

(9/29/2014)

FORT WORTH - Texas Wesleyan University has purchased two shopping centers on E. Rosedale St. across from its Southeast Fort Worth campus.

The centers, in the 3000 and 3100 blocks of E. Rosedale, include more than 20,000 sf and are mostly vacant. The Texas Wesleyan University Bookstore and a Subway sandwich shop are tenants in one of the buildings.

The university will pursue restaurant and retail tenants, according to Frederick G. Slabach, Texas Wesleyan’s president.

“We’ve already received significant interest by food service providers,” Slabach said.

The seller, Tsc Poly Retail LLC, began assembling the property 12 years ago. The shopping centers, which comprise several lots, are about 25 percent occupied.

Officials expect business interest in the area will continue to pick up, as the city completes a major reconstruction of E. Rosedale, now underway into the campus. Texas Wesleyan also is overhauling the entryways to the school with the help of the city.

The $1.8 million in street improvements are a public-private partnership between Texas Wesleyan, the City of Fort Worth, Tarrant County and the North Central Texas Council of Governments.

Read more at the Fort Worth Business Press.

Plano's sweet Preserve(s) for $41M 

(9/26/2014 8:15:00 AM)

PLANO - The Preserve at Arbor Hills (The Preserve), a 330-unit apartment complex located at 7001 West Parker Rd., has been sold for $41 million.

The Preserve’s 330 units range in size from 692 to 1,415 sf, with 310,072 sf of rentable area in four two-story and 13 three-story stucco buildings. The complexes one-, two- and three-bedroom floor plans range in rent from $905 to $1,785.

The 15-acre property, which was built in 1998, was 97 percent leased at the time of sale. The Preserve overlooks the Arbor Hills Nature Preserve, a 200-acre park featuring vast areas for walking, jogging, hiking, and other outdoor activities.

The Preserve was purchased by Canada-based Pure Mutli-Family REIT from a subsidiary of Sunstone U.S. Opportunity Realty Trust.

Read more at Pure Multi-Family REIT and at Multi-Housing News.

DFW foreclosures down 24 percent from Oct. 2013 

(9/24/2014 6:50:00 AM)

DALLAS-FORT WORTH - DFW home foreclosure filings for October are down by almost 25 percent year-over-year, according to Foreclosure Listing Service.

Lenders have scheduled more than 1,500 homes for forced sale, compared to about 2000 properties in October 2013.

The decline in home foreclosure postings for next month continues a long trend of fewer problem residential loans.

So far in 2014, home foreclosure filings for North Texas are running more than a third behind where they were for the first ten months of 2013, according to the Addison-based firm.

DFW home foreclosures peaked in 2010 when almost 64,000 homes were posted for forced sale. Through the first ten months of 2014, 15,564 homes have been scheduled for foreclosure.

Not all homes scheduled for foreclosure each month actually sell at auction. Many times the foreclosure is delayed while the borrower and lenders negotiate or reach other agreements.

For October’s foreclosure auction, the biggest decline in filings was in Denton County where 31 percent fewer postings were recorded than in October 2013. Filings in Collin County were down 30 percent, and were 24 percent lower in Tarrant County and 20 percent less in Dallas County.

Read more at the Dallas Morning News.

Richardson: 800,000-SF Galatyn Park sold 

(9/24/2014 6:45:00 AM)

RICHARDSON - A California investor has bought one of the biggest office blocks in Richardson’s Telecom Corridor.

Spear Street Capital has bought the 800,000-sf, four-building Galatyn Park office complex located just east of North Central Expy.

The buildings — which are currently leased to State Farm Insurance and Bank of America — were constructed between 1997 and 2000.

State Farm will begin moving out of the complex in 2015 when it relocates to its new campus at the CityLine complex on President George Bush Turnpike. Its leases expire starting in 2016.

The new owner plans to invest “significant capital” to remodel the buildings, add amenities and set up a shuttle service between the property and CityLine, according to Cassidy Turley, which has been hired to lease the property along with Peloton Commercial Real Estate.

The California-based firm was founded in 2001 and has invested more than $3 billion in real estate nationwide.

Read more at the Dallas Morning News and the Dallas Business Journal.

Dallas' Lone Star Lofts a quick hit with tenants 

(9/24/2014)

DALLAS-FORT WORTH - The historic Lone Star Lofts in downtown Dallas have only been open a few months, and the apartment project is already mostly leased.

“We’re 72 percent occupied and 81 percent leased — almost done with construction,” said developer Ted Hamilton.

Built in 1924 and 1931, the landmark former utility buildings are located on Harwood St. near the Farmers Market.

Hamilton Partners and Central Dallas Development Corp. spent about $30 million converting the vacant office buildings into 123 apartments. The apartments average about 940 sf and start at near $1,000 a month.

Read more at the Dallas Morning News.

Economic forecast panel sees risks ahead for Texas' growth 

(9/24/2014)

TEXAS - A panel of three Dallas-area CEOs and an economist say consumer changes, demographic shifts and other factors could slow Texas’ fast growth pace.

“The Texas economy grew really robustly this year through August,” said Mine Yücel, director of research for the Federal Reserve Bank of Dallas. “Employment was up 3.5 percent from 2013, compared with 1.8 percent for the nation and average historical growth rate of 2 percent for Texas.”

Yücel spoke to about 250 people gathered for the 2015 Economic Forecast in Dallas. She was joined by Fluor Corp. CEO David Seaton, Kimberly-Clark Corp. CEO Thomas J. Falk, and J.C. Penney Co. CEO Mike Ullman.

Yücel expects Texas’ 3.5 percent job growth to continue through the rest of the year for about 400,000 total jobs, but that high demand has led to labor shortages, especially in energy and construction.

Fluor’s Seaton feels “the pinch” from the labor shortage and he thinks comprehensive U.S. immigration reform would help alleviate some of that pressure. Fluor is one of the world’s largest engineering and construction services companies.

Kimberly-Clark’s Falk and J.C. Penney’s Ullman both see big changes in the middle-class consumer.

The middle class — the nation’s middle two income quartiles — is “what I spend the most time thinking about,” Ullman said. “We always say that middle consumer has too little time, too little money and too many kids.”

Falk sees two big demographic shifts affecting his Irving-based consumer packaged goods company: There are more Latino and Asian consumers; and flat wages and lower household income is leaving middle-class consumers with less money to spend.

The Dallas forum was the first of McCombs’ Texas Enterprise Speaker Series four economic forecasts. The others will take place in October in Austin, Houston and San Antonio.

Read more at the Dallas Morning News.

Mansfield's 40,000-SF Matlock Center sold 

(9/24/2014)

MANSFIELD - Matlock Center, a 40,027-sf shopping center shadow-anchored by a Walmart Neighborhood Market, has been sold.

The property, which is located at the intersection of Matlock Rd. and Debbie Lane, was 90 percent leased at the time of sale to tenants including Subway, Pizza Hut, Great Clips, Liberty Tax Service, Advance America and No Frills Grill.

A Dallas-based investor sold Matlock Center to an Arlington entity.

Read more at Texas Real Estate Business.

101,000 SF catches the eye of Hoya Vision in Irving 

(9/22/2014 12:15:00 PM)

IRVING - Lewisville-based Hoya Vision Care has leased a 101,817-sf industrial space in the Trade Center IX building at 755 Regent Blvd.

The space will help Hoya move its distribution center from Santa Clara, California to North Texas.

The company will start operations from the new facility in October.

The building, located near Dallas-Fort Worth International Airport, is owned by Trammell Crow Co., Clarion Partners and Rosewood Property Co.

HOYA Vision Care is a U.S. firm owned by Hoya Corp. of Japan.

Read more at the Dallas Morning News.

TAMU sells 163 DFW acres to home builder 

(9/22/2014 11:15:00 AM)

DALLAS - The Texas A&M University System has sold 163 acres of farmland north of Campbell Rd. on Coit Rd. in North Dallas.

The tract is adjacent to the Texas A&M AgriLife Research and Extension Center. The sale of the acreage is expected to help Texas A&M AgriLife kick off plans for a new state-of-the-art research center on the school’s remaining 80 acres in northern Dallas County.

Dallas-based Centurion American Development purchased the land with plans to bring hundreds of homes to the area.

Centurion Development's proposed plan for the tract includes 720 single-family homes and 180 townhomes, according to the city's planning and zoning department.

Read more at the Dallas Business Journal.

Sprouts adds 25,000-SF Arlington store, plans for more 

(9/22/2014)

ARLINGTON - Sprouts Farmers Market has opened its first Arlington store at 5711 W. I-20.

The 25,000-sf store is the grocer’s second Tarrant County store to open in the past month. It opened in Hurst on Aug. 6.

The store employs 130 people. Sprouts plans to continue adding three to five stores per year in DFW, according to Eric Stover, Sprouts divisional vice president.

The Phoenix-based grocer now has 189 stores and more than $2.5 billion in annual sales.

Read more at the Fort Worth Star-Telegram and at the Fort Worth Business Press.

Eastman completes plasticizer expansion in Texas City 

(9/21/2014)

TEXAS CITY - Eastman Chemical Co. has completed a capacity expansion of its Eastman 168 non-phthalate plasticizers at its manufacturing facility. The expansion increased overall capacity by about 15 percent.

The firm projects global demand for DEHT at 500,000 tons in 2014 and sees continued demand for non-phthalate plasticizers.

Eastman expects the market to need its next phase of capacity expansion by mid-2016, which would take the firm’s full capacity to more than 200,000 tons.

Eastman said non-phthalate plasticizers are broadly used in products like toys, childcare items, food contact materials and medical devices. They also are used to provide flexibility to polyvinyl chloride in a variety of applications.

The firm serves the building and construction, health and wellness, and a wide range of consumer product industries.

Eastman is a global chemical company that serves customers in about 100 countries and reported revenues of $9.4 billion in 2013. The firm is headquartered in Kingsport with 14,000 employees worldwide.

Read more at Rubber News.

PwC Analyst: DFW office market gives reason to cheer 

(9/19/2014 8:00:00 AM)

DALLAS-FORT WORTH - DFW real estate developers and investors have reason to cheer as the region's office market continues to expand, according to PricewaterhouseCoopers U.S. Real Estate Practice Leader R. Byron Carlock Jr.

"This is the year for office market improvement; there's been a lot of absorption and landlords are trying to raise rents again," said Carlock.

"Tenants are ready for a new generation of space," he added. "The users are now having to consider space and space aesthetics in the war for good talent."

PricewaterhouseCoopers recently released its third quarter 2014 Real Estate Investment Survey, which surveys commercial real estate investors on their outlook for markets throughout the United States.

Dallas was ranked firmly in the expansion phase of the real estate cycle, according to the survey.

As a result of a growing number of tenants in North Texas, he said, there's been a run on high-quality real estate by growing DFW companies. And developers are joining the action, constructing build-to-suit corporate offices and going vertical on multitenant office buildings.

"The attractiveness of Dallas will continue — not only for business migration, but inbound population growth as employers expand," Carlock said.

Read more at the Dallas Business Journal.

Sanyo Energy recharges with HQ move to The Colony 

(9/19/2014)

THE COLONY, DENTON COUNTY - Sanyo Energy U.S.A. Corp., a rechargeable battery manufacturer and supplier, is relocating and expanding its Dallas-Fort Worth headquarters within the region.

The Frisco-based company plans to relocate its headquarters into a new 30,000-sf build-to-suit building on Plano Pkwy. in Austin Ranch, near SH 121.

Construction on the new building is scheduled to begin immediately, with an expectation the property will be ready for the tenant by July 2015.

This moves Sanyo — and the company's upwards of 100 employees — from its current location in 29,842 sf of office space within Hall Office Park at 2600 Network Blvd. in Frisco.

The Colony Economic Development Corp. expects to give in excess of $200,000 for the move in cash incentives.

Sanyo Energy decided to consider a build-to-suit headquarters based on the rising rental rates due to growing tenant demand by relocating and expanding companies, said Dean Collins, an associate director in Cushman & Wakefield's Dallas office.

"Tenants have a unique opportunity to consider build-to-suits because interest rates are currently low and pricing is very competitive versus existing product," said Collins.

Read more at the Dallas Business Journal.

WinCo buys Garland tract for growing North Texas presence 

(9/19/2014)

GARLAND - WinCo Foods LLC has purchased a 12-acre tract at 1122 W. Centerville Rd.

The grocer plans to build an 85,000-sf store at the northeast quadrant at the northeast quadrant of Centerville and I-635. The store is scheduled for completion by spring 2015.

The Idaho-based grocer — known for going head-to-head with Walmart — began expanding in Dallas-Fort Worth in the past year, by opening its first two stores in McKinney and Fort Worth. Winco Foods plans to open a North Richland Hills and Lewisville location as well.

This 12-acre parcel of land in Garland gives WinCo an opportunity for growth and further visibility to North Texas residents, said McGregor Converse, a senior vice president at Dallas-based Venture Commercial.

Read more at the Dallas Business Journal.

Texas Health Southwest breaks ground on $40M MOB 

(9/19/2014)

FORT WORTH - A $40 million expansion of Texas Health Harris Methodist Hospital Southwest Fort Worth is now underway. The expansion will add the second of two medical office buildings to the campus a 6100 Harris Pkwy.

The five-story facility will feature an endoscopy and outpatient surgery center including an observation deck between operating rooms for families and other visitors. Also planned are three floors of physician office space for future growth and a five-story parking garage.

The projected opening date is fall 2015.

Texas Health Harris Methodist Hospital Southwest Fort Worth is a 220-bed acute care, full-service facility providing care for residents of southwest Tarrant County. Its services include surgical and imaging services, a 24-hour emergency department, orthopedics and sports therapy, adult critical care, and a Level III neonatal intensive care unit.

Read more at the Fort Worth Business Press.

Whole new flavors in Denton Highland Village Whole Foods 

(9/18/2014)

HIGHLAND VILLAGE, DENTON COUNTY - Whole Foods Market has opened its first Denton County location at The Shops at Highland Village, at the corner of FM 407 and FM 2499.

The 38,000-sf store boasts more than 1,500 local products.

The location has Whole Foods’ first cornbread station, with various sweet and savory flavors available. It also has a sushi station with made-to-order rolls, an olive bar, an in-store smokehouse and a pizza oven.

The store also has a bar area, where customers can enjoy local beers and other drinks.

Read more at the Denton Record-Chronicle.

Listen to Podcast 227 for this story and more.

Work starts on 150,000-SF Uptown office in Dallas 

(9/18/2014)

DALLAS - Construction has begun on a 12-story Uptown office building at 1920 McKinney Ave. Invesco Real Estate and KDC officially kicked off the office tower, which will sit kitty-corner to Crescent's new $225 million high-rise.

The 150,000-sf project will consist of a six-story Class A office building atop a six-story parking garage with ground floor retail space for an 8,000-sf restaurant.

The building has a parking ratio of three parking spaces for every 1,000 sf of space.

Invesco and KDC reportedly have signed an undisclosed anchor office tenant, which signed a lease for a full floor, or 22,350 sf of office space.

The project is expected to be completed spring 2016.

Read more at the Dallas Business Journal.

Brentwood Stair apartment complex sells in Fort Worth 

(9/18/2014)

FORT WORTH - The Brentwood, a 292-unit apartment complex at 8300 Brentwood Stair Rd., has been sold.

Built in 1984, The Brentwood underwent $2 million in renovations, including both interior and exterior upgrades, between 2011 and 2013.

The transaction closed just 45 days after an agreement was reached between buyer, a private investor, and the seller, a Texas LLC. The buyer assumed an existing Fannie Mae loan to complete the transaction.

Source: Marcus & Millichap Real Estate Investment Services

McKinney's Eldorado grabs 208-unit apartment complex 

(9/17/2014 10:08:00 AM)

McKINNEY - The 208-unit Parkview Legends Apartments at 1701 Park Central has been sold.

Built in 1999, the community offers one-, two- and three-bedroom units ranging in size from 650 sf to 1,370 sf and in price from $794 to $1,310.

The acquisition was financed with a $14.2 million mortgage, according to Collin County deed records.

Eldorado McKinney LLC purchased the complex, which is near US Hwy. 75 and Eldorado Pkwy.

Read more at the Dallas Morning News.

Wood Partners to start 226-unit Alta Yorktown in West Dallas 

(9/17/2014)

DALLAS - Wood Partners is ready to begin a 226-unit apartment project named Alta Yorktown in West Dallas, between Yorktown St. and I-30.

Next door to the Sylvan/Thirty mixed-use project that is nearing completion, the rental community will consist of three four-story buildings.

Wood Partners’ Alta Yorktown project is just the latest development that’s transforming the area west of downtown Dallas.

Sylvan/Thirty, which formally opened in August, contains more than 200 apartments and almost 50,000 sf of retail space. Wood Partners built the apartments in the complex.

Trammell Crow Residential is planning to build more than 300 apartments and retail space on a nearby block at Fort Worth Ave. and West Commerce St.

Wood Partner’s Alta West Commerce apartments will have an additional 252 units.

Read more at the Dallas Morning News.

Dallas' 290,000-SF High Point Centre snapped up 

(9/17/2014)

DALLAS - The 290,000-sf High Point Centre at 12225 Greenville Ave. has been sold.

The property, which was constructed in 1999, is valued at nearly $7.4 million, according to the Dallas Central Appraisal District. High Point Centre includes 189,346 rentable sf of Class A office space.

Buyer Leobardo Trevino of Highpoint Ricchi LLC plans to spend $5 million on common areas and cosmetic upgrades to the newly purchased property, which sits on 6.2 acres.

With the construction on the eastern side of LBJ Expy. finished, Trevino said he expects to land a number of tenants as he moves forward with the capital investment in the building.

"We look forward to leasing the vacancies and already have three prospects interested in the spaces," Trevino said.

Read more at the Dallas Business Journal.

Metlife building legacy with 215,000-SF Plano office buy 

(9/17/2014)

PLANO - The 215,499-sf Plaza at Legacy office building at 5465 Legacy Dr. has been sold.

Plaza at Legacy was built in 2001 and originally housed Computer Associates International. It was sold by Hines, who purchased the property in 2012.

The seven-story building was purchased by Metlife Core Property Holdings — a unit of Metropolitan Life Insurance.

Plaza at Legacy is located in Legacy Business Park, which is considered to be one of the hottest office markets in the United States.

Toyota Motor Co. is moving its North American headquarters with 4,000 jobs to a location further west on Legacy Dr.

Read more at the Dallas Morning News.

Little Elm ISD opens unique $18M STEM school 

(9/17/2014)

THE COLONY, DENTON COUNTY - Little Elm Independent School District has opened up its latest addition — an $18 million STEM (Science, Technology, Engineering and Math) academy — with the new school year.

The 90,000-sf school has a number of flexible learning spaces with grades set up as houses with open centers for school-wide meetings and small group discussions.

The Prestwick STEM academy is the first of its kind in Texas, and is serving students from kindergarten through eighth grade.

The academy sits at the southeast corner of Denton County at 3101 Stonefield Dr. The district encompasses 40 square miles.

The parents within the school district like the layout of the school, which gives them the ability to see their children learning throughout the building, Acting Superintendent of Schools Matthew Gutierrez said.

Along with an open facility, Little Elm ISD issues students laptops and Google ChromeBooks as they progress through their education. The school district plans to hold a dedication ceremony on September 21 to mark the opening of the school.

Read more at the Dallas Business Journal.

Locked and loaded: Fort Worth police gun range in sight 

(9/17/2014)

FORT WORTH - The City of Fort Worth is set to open the first phase of its new police and fire training center at 505 W. Felix St. on November 1.

The police gun range and related offices and classrooms are expected to open as part of the first phase. The facility will include 50- and 100-yard ranges.

The second phase, which is expected to open April 2015, will include police and fire administration and headquarters, tactical villages, drive track, fire village and dive tank.

The project’s contractor has also informed the city that it’s “far enough along” that Fort Worth can now release some of the contingency funds it’s held in reserve for the project to other potential uses, according to Mark Rauscher, the city’s program manager over the 76-acre project.

Read more at the Fort Worth Business Press.

Fort Worth: 560,000-SF warehouse portfolio sold 

(9/16/2014 8:30:00 AM)

FORT WORTH - TPG Capital, a Fort Worth-based private equity firm, has acquired eight warehouses, mostly in Arlington’s Great Southwest Industrial District, totaling more than 560,000 sf on 35 acres, according to deed records.

The properties are:

•  841 Great Southwest Pkwy.
•  720 107th St.
•  809 110th St.
•  3400 E. Randol Mill Rd.
•  400 International Pkwy.
•  4401 Cambridge Rd. in CentrePort
•  514 Great Southwest Pkwy.
•  399 Great Southwest Pkwy.

The property was sold by ProLogis, a Maryland real estate investment trust that owns warehouse and distribution facilities worldwide. TPG bought the property this summer under the names Lightning Propco I, Lightning Propco II and Lightning Propco III.

Read more at the Fort Worth Star-Telegram.

'Primetime' Cowboy sells 109-acre Prosper estate 

(9/16/2014)

PROSPER - Former Dallas Cowboys player Deion Sanders has sold his 30,000-sf mansion and the 109-acre property it sits on to Southlake-based Bloomfield Homes and Dallas-based Margaux Development Co.

Bloomfield Homes plans to market Sanders' mansion at 1280 North Preston Rd. as well as build more than 100 single-family homes on 82 acres of the 109-acre property.

Margaux Development, led by Donald Silverman, will develop the remainder of the property into a $30 million grocery-anchored development.

The Kroger-anchored 250,000-sf shopping center already has wound through Proper's zoning process and Silverman is working through conceptual drawings with the project's architect.

Silverman says he expects break ground on the project in January or February 2015, with an expectation of completing the project in early 2016.

Bloomfield Homes plans to build 100 to 130 new homes on the property, depending on the size of tracts sold — homebuyers can buy nine-acre lots to 24-acre lots.

Bloomfield also plans to sell Sanders' home — although the builder hasn't determined a price yet. Sanders' home previously was marketed for $21 million.

Read more at the Dallas Business Journal.

$100M Dallas’ Cityplace living, shopping, eating 

(9/15/2014 7:00:00 AM)

DALLAS - The first tenants have moved into the newest tower in Dallas’ Cityplace development — a 21-story apartment and retail tower named 3700M for its location at 3700 McKinney Ave.

The $100 million project includes 37,000 sf of retail and restaurant space and 380 apartments.

3700M offers one- and two-bedroom units ranging in size from 562 sf to 1,475 sf and in price from $1,433 to $3,298.

Though the project won’t be completed for another month, the first 50 tenants have moved in, making the project 22 percent leased.

3700M has a lounge on the seventh floor with views of the downtown skyline and tenants can reserve a large private reception room and dining/boardroom on the same floor.

“There’s an amenity race going on with all these buildings,” Truitt acknowledged. “But we are also going to compete by offering our tenants service.”

Read more at the Dallas Morning News.

Grand Prairie: Schilli earthmover stays in place 

(9/15/2014)

GRAND PRAIRIE - Schilli Distribution Services signed a three-year lease extension for 72,450 sf at 1213 W. North Carrier Pkwy.

The single-story, 243,365-sf industrial building was built in 1980 on more than 15 acres in the Oakridge Business Center.

Schilli Distribution Services provides worldwide distribution and logistics service for the world leader in earthmoving machinery and diesel engine manufacturing.

Other tenants in the building include N.A.W.F. Co., Inc., International Paper Co. and Overhead Door Corp.

Source: CoStar Group

Joint venture jumps into 811-room Hyatt at DFW Airport 

(9/15/2014)

IRVING - The 811-room Hyatt Regency DFW International Airport Hotel has been sold.

The 100,000-sf hotel is located immediately adjacent to Terminal C of the airport and boasts 92,000 sf of meeting space, a 24-hour fitness center and an infinity pool.

The hotel was purchased by a joint venture between New York City-based AllianceBernstein and New Jersey-based Fulcrum Hospitality.

Read more at CoStar Group.

KDC underway on second $1.6B Richardson project 

(9/12/2014 6:58:00 AM)

RICHARDSON - Developer KDC has started construction on the next phase of its $1.6 billion CityLine project in Richardson.

Work has started on the east side of Plano Rd. where KDC is building a fourth, 500,000-sf office tower for State Farm Insurance.

The office tower is scheduled to be completed in mid-2016.

Additional retail space and apartments are also planned in the same area at the southeast corner of Plano Rd. and Bush Turnpike.

Construction is getting closer to completion on the first three 21-story, 15-story and 13-story State Farm office buildings on the south side of Bush Turnpike next to DART’s commuter rail station.

State Farm will take possession of one of the buildings at the end 2014, and thousands of workers will start relocating to the buildings in early 2015.

When completed, the $1.5 billion, 186-acre CityLine project is planned to contain about 6 million sf of office space, two hotels, 3,925 multi-family residential units, 300,000 sf of grocery, restaurant, entertainment and retail space and three parks.

Read more at the Dallas Morning News.

306,000-SF Granite Park Five underway in Plano 

(9/12/2014)

PLANO - Granite Properties has broken ground on Granite Park Five, a 306,000-sf office tower in its Granite Park development on the Dallas North Tollway.

The 12-story office building will be finished in late 2015.

The tower will be about the same size as the Granite Park IV tower, which opened June 2014 on the east side of the tollway, just south of SH 121.

“There is unprecedented growth in the north Plano market,” said Granite Properties chief operating officer Greg Fuller. “We’re already negotiating with several prospects for space at Granite Park Five.”

Granite also recently opened a 300-room Hilton hotel in the development.

Read more at the Dallas Morning News.

For more on the Granite Park Hilton, see previous story Plano: 263,000-SF Granite Park Hilton debut set.

Lawyers lock down 145,000 SF in Dallas' Chase Tower 

(9/12/2014)

DALLAS - Local law firm Locke Lord has signed a lease that will move the firm to new offices within downtown’s Chase Tower at 2200 Ross Ave.

For 26 years, Locke Lord has occupied the same space, but will now move to 145,000 sf of new space on higher floors in the 55-story tower.

The 15-year lease will move the law firm’s main offices to floors 24-28, and the back-office operations will move to the fourth floor.

Locke Lord was convinced to stay in part because Chase Tower owner Hines is about to begin renovations on the lobby and is currently constructing a fitness center in the rotunda building.

The significance of the Locke Lord deal is even larger since the firm announced it will merge operations with Boston-based Edwards Wildman Palmer. The combined companies by early next year will become Locke Lord Edwards, the largest law firm based in Dallas.

Read more at the Dallas Morning News.

Dallas: SMU $25M gift drives 40,000-SF Simmons building 

(9/12/2014)

DALLAS - Southern Methodist University has broken ground on the new Harold Clark Simmons Hall, the second building for the Annette Caldwell Simmons School of Education and Human Development.

The 40,000-sf facility on Airline Dr. is named for Simmons after the university received a $25 million gift from Annette Caldwell Simmons and the late Harold C. Simmons.

The three-story building will include classrooms, labs, offices and conferences rooms. Construction is scheduled for completion by late 2015.

Read more at the Dallas Business Journal.

Allen: 30,000-SF Allentown Office Building sold 

(9/12/2014)

ALLEN - The 29,979-sf Allentown Office Building at 100 Allen Pkwy. has been sold.

The two-story property was built in 1985 on 3.6 acres and was 80 percent occupied at the time of sale.

Read more at Texas Real Estate Business.

Cleburne's Northridge Court sold 

(9/12/2014)

CLEBURNE - The 86-unit Northridge Court apartment complex at 101 W. Henderson St. has been sold.

Northridge Court consists of 14 buildings spread across two parcels of land. The property has sustained a mid-90 percent occupancy range due in part to its location near many of Cleburne’s economic drivers.

Constructed in 1967, the property’s average unit size is 874 sf and is made up of nearly 70 percent two-bedroom floor plans.

Source: Marcus & Millichap Real Estate Investment Services

NAR DFW housing market 2Q 2014 

(9/11/2014 7:59:00 AM)

DALLAS - Second quarter 2014 housing data have been released for the DFW market by the National Association of Realtors.

NAR DFW Housing Market 2Q 2014
Price Activity DFW U.S. Local Trend
Current Median Home Price (2Q 2014) $191,300 $212,267 Prices are up from a year ago,
but price growth is slowing.
1-year (4-quarter) Appreciation (2Q 2014) 5.2% 4.6%
3-year (12-quarter) Appreciation (2Q 2014) 26.3% 25.8%
3-year (12-quarter) Housing Equity Gain* $39,800 $43,600 Gains in the last 3 years have
extended the trend of positive
price growth after the recession.
7-year (28 quarters) Housing Equity Gain* $34,800 -11,500
9-year (36 quarters) Housing Equity Gain* $42,200 -$8,000

*Equity gain reflects price appreciation only.

Source: National Association of Realtors, courtesy of Prudential Ada Realtors.

Click to see the full report.

Also see more Housing data under DFW Market Data Sources.

Little Elm's $600M Union Park kicks off 

(9/11/2014)

LITTLE ELM, DENTON COUNTY - After eight months of planning, Dallas-based Hillwood Communities has kicked off its massive $600 million master-planned community along the US 380 corridor that will bring 2,400 homes to North Texas.

The 787-acre community — named Union Park — will include a 30-acre park with ponds, trails and woods.

"Our first phase will include 400 home lots, which is a big phase," Fred Balda, president of Hillwood Communities. "I think the bar has been raised for master-planned communities in this area. There's an incredible amount of options for buyers right now and there's a lot of tours hitting this corridor."

Plans for the project include an amenity center and an amphitheater, which will serve as a central gathering place for the community's residents.

And a food truck area, ball fields, camping areas, hike-and-bike trails and other programming to give this project a neighborhood environment.

Hillwood also wanted more than twice the required green space at Union Park to give residents a small-town community feel and to encourage socializing.

Read more at the Dallas Business Journal. Listen to Podcast 227 for this story and more.

See DFW NewsTalk Texas. Everyone's talking about it!

Tex-Chem Corp. grabs 89,000 SF in Dallas 

(9/11/2014)

DALLAS - American Tex-Chem Corp. has purchased a 88,950-sf industrial building at 5201 Catron Dr.

The Class A building was built in 2007. Some key features of the building include a 24-foot clear height and front, rear, and side loading.

The building is in the East Dallas/Mesquite Industrial submarket.

Read more at CoStar Group.

Dallas: Patients to UT Southwestern $800M hospital Nov. 15 

(9/10/2014 7:15:00 AM)

DALLAS - The $800 million University of Texas Southwestern Medical Center hospital under construction at 5323 Harry Hines Blvd. will open to patients on November 15. The complex is officially named the William P. Clements Jr. University Hospital.

Groups of 150 to 180 employees and physicians per day are starting to train on how to use the building.

The hospital will have about 30,000 patient encounters per year, with about 500 workers employed at the facility.

The hospital’s 24 operating rooms are “the biggest in the state,” said John Warner, CEO of UT Southwestern University Hospitals. That allows for teams of surgeons and nurses operating on the patient and for other teams to observe, since UT Southwestern is an academic medical center.

The hospital replaces the outdated St. Paul University Hospital.

Some of the hospital’s other vital stats:

•  1.3 million sf
•  460 single-patient rooms
•  40 emergency treatment rooms
•  24 surgical suites
•  12 procedure rooms
•  72 adult intensive-care rooms
•  16 labor and delivery rooms
•  30 neonatal ICU rooms
•  6 endoscopy suites
•  2 nuclear medicine rooms

Read more at the Dallas Business Journal.

Dallas third in U.S. for multifamily construction 

(9/10/2014)

DALLAS - Dallas is ranked third in the United States for multifamily construction, according to Axiometrics.

The Dallas-based apartment market research firm compared building permits for apartments and condominiums for the 12-month period ending July 2014.

Dallas had 16,735 building permits during the period, putting it behind New York and Houston, which were first and second, respectively.

Along with Houston and Dallas, Austin also made the top ten construction list.

North Texas has been one of the top apartment building markets in the country for the last few years thanks to the area’s high employment and population growth.

Almost 30,000 apartments are currently being built in Dallas-Fort Worth.

Read more at the Dallas Morning News.

46-Acre sale to drive retail at Prosper's Windsong Ranch 

(9/10/2014)

PROSPER - The $1.2 billion Windsong Ranch community will get a 300,000-sf retail project at the northwest corner of Gee Rd. and US Hwy. 380.

United Commercial Development has purchased 46 acres at the entrance of the Windsong development for the project.

A 125,000-sf grocer is expected to anchor the shopping center. The project is the first commercial development in Windsong Ranch, which is planned to have more than 3,000 homes.

The Kroenke Group is also a partner in the retail project.

Read more at the Dallas Morning News and the Dallas Business Journal.

Panda Energy climbs to top of Farmers Branch office building 

(9/10/2014)

FARMERS BRANCH - Panda Energy has leased 39,000 sf for its headquarters in the Providence Towers office complex at the Dallas North Tollway and Spring Valley Rd.

Panda will occupy the top two floors of the office building, which was recently vacated by Henry S. Miller Co.

The energy company is moving from a building at the intersection of Spring Valley Rd. and Midway Rd. where it has had its offices for three decades.

“The vacancy at Providence Towers was only on the market for six weeks and presented a unique opportunity which will fit their needs perfectly for the long term future,” said Robbie Baty, of Cushman & Wakefield of Texas Inc.

Read more at the Dallas Morning News.

Richardson Mercantile leases 50,000-SF in Dal-Rich (Village) 

(9/10/2014)

RICHARDSON - Richardson Mercantile has leased 50,032 sf at Dal-Rich Village. The gifts, furniture, jewelry, antiques, home décor and apparel retailer will anchor the property at the southeast corner of Coit Rd. and Beltline Rd.

After landing the new anchor tenant, the 40-year-old retail center has been renamed Dal-Rich Towne Square.

This is the second mercantile shop to open in Dallas-Fort Worth, following the success of the Frisco Mercantile on Preston Rd.

Richardson Mercantile is scheduled to open on October 1.

Read more at the Dallas Business Journal.

Red Tail swings 16-building purchase in DFW 

(9/10/2014)

RICHARDSON, CARROLLTON - Red Tail Acquisitions has purchased a six-property, 16-building industrial portfolio totaling 462,618 sf in the Richardson/Carrollton corridor.

The assets are:

•  1360-1420 Presidential Dr. and 850-890 N. Dorothy Dr. in Richardson; and
•  1420 Halsey Way, 1406 Halsey Way, 2122 Country Club Dr. and 2855 Trinity Square Dr. in Carrollton.

The properties are 87 percent leased to 41 tenants, including NOW Specialties Inc., Optex Systems Inc., Laboratory Corporations of America, SKH Beauty Inc., All Sorts Mailing Services, Circuitco Electronics LLC, Advanced Environmental Concepts, Select Cabinet Co., Milestone Construction, TraStar Inc. and Gym Ratz Basketball Club LLC.

The properties were sold by AEW Capital Management.

Read more at GlobeSt.com and Commercial Property Executive.

Highlands of Northlake 220 homes coming, but not in Scotland 

(9/9/2014 7:00:00 AM)

NORTHLAKE, DENTON COUNTY - The Highlands in Northlake, a residential community north of Fort Worth, will begin the first of three construction phases by October 1.

Located on 363 acres off FM 407 along I-35W, the 220 one-acre-plus-lot community is approximately ten miles north of AllianceTexas.

Twelve lots have been pre-sold to custom home builders. There are 66 lots in the first phase of construction, which is expected to be delivered by summer 2015.

The community is being developed by Las Colinas-based Realty Capital Management with investment from Dallas-based RCP Properties LLC.

In addition to the equity funding from RCP, the project has also secured $4.385 million in infrastructure reimbursements from the Highlands Public Improvement District.

“The Highlands offers families a great place to call home with convenient access to major employment centers for the parents and open spaces, miles of hike-and-bike trails and access to Northwest ISD schools for the kids,” said Blake Lugash, president of RCP.

Read more at GlobeSt.com.

Elevator firm KONE going up with Allen office park project 

(9/8/2014 7:05:00 AM)

ALLEN - Global elevator and escalator company KONE Inc. plans to make a major expansion in North Texas as it relocates a light manufacturing division from Mexico to Allen, bringing 80 new jobs to the city.

As part of the international relocation, KONE will help start a soon-to-be developed Class A office park in Allen, called AllenPlace, on the east side of North Central Expy. between Bethany Dr. and McDermott Dr.

AllenPlace is expected to cost upwards of $90 million after it’s fully developed.

The $26 million initial phase of the five-building, 700,000-sf office park will keep KONE growing, said Ron Bagwill, vice president and director of supply operations for KONE Americas.

KONE will occupy more than 169,000 sf at AllenPlace, where the company committed to be the lead tenant in May. This increases the company's original lease by more than 110,000 sf from its original commitment.

The Allen Economic Development Corp. (AEDC) sold the tract to the developer as part of a public-private partnership. As part of the new deal, AEDC gave KONE a $200,000 economic development grant as part of developing the light manufacturing facility.

Construction is scheduled to get underway this year on the initial phase of the project. KONE is expected to move into its new offices by summer 2015.

Read more at the Dallas Business Journal.

For more on KONE's initial commitment to AllenPlace in May 2014, see previous story New $70 million office park coming to Allen.

240,000-SF Toll Hill Office sold on Dallas North Tollway 

(9/8/2014 7:03:00 AM)

DALLAS - Cawley Partners has acquired Toll Hill Office Park, a two-story, 240,000-sf office property at the southeast corner of the Dallas North Tollway and Harvest Hill Rd.

As part of the acquisition, Cawley Partners plans to spend $3 million in upgrades to the property, including the lobby, restrooms, landscaping and parking.

Cawley Partners has been busy on the Dallas North Tollway, with plans to break ground on Legacy Center, a 175,000-sf planned office building at the northwest corner of Legacy Dr. and Hedgcoxe Rd. in Plano.

The developer is also working on Knoll Trail Plaza and Tollway Center, a proposed 200,000-sf project at the south side of Belt Line Rd. and the Dallas North Tollway that is expected to start January 2015.

Read more at the Dallas Business Journal.

For more on Legacy Center, see previous story Plano Legacy tract for new 169,000-SF office.

For more on Knoll Trail Plaza, see previous story Knoll Trail Plaza office starts on Dallas North Tollway.

USAA buys Dalports' 760,000-SF warehouse in Wilmer 

(9/8/2014 7:00:00 AM)

WILMER, DALLAS COUNTY - Dalport Trade Center, a 758,922-sf warehouse on I-45 in Wilmer, has been purchased by USAA Real Estate Co. 

The property is located at 201 S. I-45 in the Inland Port District south of Dallas on 37 acres. The huge distribution building is located just south of Union Pacific Railway’s intermodal freight center.

The warehouse is roughly 2.5 miles from the Union Pacific Intermodal and 6.5 miles from the FedEx Ground Hub.

The industrial building was developed in 2008 by First Industrial and is vacant.

Read more at the Dallas Morning News and CoStar Group.

Allen: Waters Creek 109-unit apartments started 

(9/8/2014 6:52:00 AM)

ALLEN - Developer Trademark Property Co. has started work on a 109-unit residential building in its mixed-use Watters Creek Project.

The apartments will range in size from 650 to 1,740 sf.

The 750,000-sf retail, office and apartment development is on North Central Expy. at Bethany Rd.

The 52-acre Watters Creek development opened in 2008. The first phase of the project has 350,000 sf of retail space, 250 apartments and 90,000 sf of office space.

The project is a development of Trademark, Pacific Coast Capital Partners, Coventry Real Estate Advisors and Southern Land.

Read more at the Dallas Morning News.

Chisholm Trail Ranch sells 268 acres for Fort Worth housing 

(9/8/2014 6:49:00 AM)

FORT WORTH - Chisholm Trail Parkway provides more than quick passage from Fort Worth to Cleburne; the $1.4 billion toll road also promises new housing, retail and office options.

All those elements are taking shape at Chisholm Trail Ranch at McPherson Boulevard and Chisholm Trail Parkway in southwest Fort Worth, according to Steve Saxon, co-founder of Legacy Capital Co.

Legacy, along with Stratford Land Co., sold 268 acres of the 625-acre, mixed-use development to project developer Walton Group of Companies.

Those 268 acres represent the property’s single-family housing component. The remaining retail and office acreage is still owned by Legacy Capital.

The first 50 of 1,100 planned single-family homes are expected to be constructed by late 2015, according to Steve Saxon, co-founder of Legacy Capital Co.

Homes will be priced from the mid $200,000 to high $300,000 range. Two residential phases have been confirmed, one on the east and one on the west side of Chisholm Trail Pkwy.

The first phase will span 50 acres, with the second covering 225 acres and including a planned elementary school in the Crowley school district.

Chisholm Trail Ranch marks the first major real estate project announced for the Chisholm Trail Pkwy. corridor. Since the 27.6-mile toll road opened this summer, motorists have enjoyed swift passage between I-30 near downtown Fort Worth and US 67 in Cleburne.

Read more at the Fort Worth Business Press.

Flower Mound condo tower is half presold 

(9/8/2014)

FLOWER MOUND - Developers have begun selling condominiums in The Lakeside Tower and Bungalows, a 14-story residential building planned for the 150-acre mixed-use Lakeside DFW development.

Irving-based Realty Capital Management, who is developing the property, has already sold about half of the 44 condos planned for the Mediterranean-style high-rise.

The residential units range in price from $595,000 to $2.95 million for 1,300 sf to over 5,700 sf.

Construction is planned to begin spring 2015 with completion in the second half of September 2016. Realty Capital is developing Lakeside DFW, located at FM 2499 and Lakeside Pkwy.

Read more at the Dallas Morning News.

Proctor & Gamble wrapping up Wilmer project, hiring 500 

(9/8/2014)

WILMER, DALLAS COUNTY - Work is finishing up on consumer products giant Procter & Gamble’s (P&G) huge new warehouse in Wilmer.

The more than 1.4 million-sf distribution center is located on the west side of I-45 at Mars Rd. will house about 500 workers.

Almost all of the workers will be employed by two companies that will operate the facility, according to P&G spokesman Jeff LeRoy. “Both are now hiring,” said LeRoy.

The industrial building, which is the biggest under construction in North Texas, is being developed by Panattoni Development Co. in partnership with the California State Teachers Retirement System.

The entire operation should be up and running by December, according to P&G.

Read more at the Dallas Morning News.

Hundreds of apartments sprouting near Dallas' Farmers Market 

(9/8/2014)

DALLAS - Construction is set to begin in September on the redevelopment of Dallas’ Farmers Market complex.

In about 60 days, ground will be broken for a large rental community that will replace two of the old produce sheds along Harwood St. near I-30.

Other developers are ramping up apartment construction in the neighborhood as well. The number of residences in the area will grow to more than 2,000 units during the next couple of years.

In 2012, the City of Dallas chose Bergersen’s Spectrum Properties and a group of other investors and developers to build a roughly $60 million mixed-use development at the Farmers Market.

Since then, two other apartment developers have begun work on rental projects. And a townhouse community under construction just north of the Farmers Market is now about two-thirds sold.

The 240-unit FM Harvest Lofts apartment building should be open by the end of 2015 on Harwood St., and will support about 25,000 sf of retail within the building, as well as a freestanding restaurant.

Houston-based Camden Property Trust already has about 900 units in its Farmers Market apartment community.

Right next door to Camden on Cesar Chavez Blvd., builder Wood Partners has begun construction on a 4.7-acre, 313-unit apartment community.

Another apartment builder, Alliance Residential, is working on a 340-unit rental community southeast of the Farmers Market at Cesar Chavez Blvd. and I-30.

Read more at the Dallas Morning News.

See more: Dallas: 313-unit Alta Farmers Market underway; Mixed-use not just in veggies at Farmers Market Dallas

Downtown Dallas: Texas A&M-Commerce expands to 42,000 SF  

(9/5/2014)

DALLAS - Texas A&M University-Commerce has leased 42,203 sf at Pacific Place, located at 1910 Pacific Ave. The new space is connected by sky bridge to the Universities Center at Dallas.

One of the first programs to take advantage of the new space will be visual communications, currently housed in the UCD building on Main St.

The programs will have over 16,000 sf of dedicated space to include lecture rooms, open critique space, computer labs, letterpress, silkscreen and photography studios.

The new Pacific Ave. location will allow enough square footage for additional programs as well as meeting spaces for alumni events and other university needs in the downtown area.

The university will occupy the space beginning January 2015.

Read more at North Texas e-News.

Sold! $180M for Southlake's Solana Business Park 

(9/4/2014 6:55:00 AM)

SOUTHLAKE, WESTLAKE - Blackstone Group has purchased the 14-building Solana Business Park out of foreclosure for $180 million.

The deal also includes a 194-room Marriott hotel, a fitness club and some retail space, as well as 78 acres of undeveloped land, deed records show.

In all, the buildings totaled about 1.8 million sf, which were only about 50 percent occupied at the time of the sale. Tenants include Verizon, Wells Fargo, CoreLogic and First American.

The once-thriving 900-acre business park, known for its brightly colored architectural accents, was developed in 1989 by Los Angeles-based Maguire Partners and IBM Corp.

Developers defaulted on more than $390 million in debt on the project.

Read more at the Dallas Morning News.

Barclays Bank grabs 40,000 SF in McKinney for tech center 

(9/4/2014)

McKINNEY - Barclays Bank will open an innovative technology center at the McKinney Corporate Center 1 building located at 6800 Weiskopf Ave. at Craig Ranch.

The London-based bank will initially occupy over 40,000 sf in the Class A office building. The Barclays Technology Center will support the bank’s operations globally.

The center will support the bank's growing industry requirements, provide technology support to the business and develop solutions for all the group's activities and requirements.

Barclays is a Global Fortune 500 company that provides personal banking, credit cards, corporate and investment banking and wealth management.

Read more at PRNewswire.

DFW apartments Oakwood and Hacienda Villa sold 

(9/4/2014)

FORT WORTH, GREENVILLE - Colliers International North Texas has sold two North Texas apartment communities — Oakwood Apartments in Fort Worth and Hacienda Villa Apartments in Greenville.

Oakwood Apartments is a 216-unit apartment complex that is located on 6351 Vega Dr. The complex offers one- and two-bedroom apartments ranging from 555 sf to 950 sf. Rent varies from $571 to $780.

Hacienda Villa Apartments is a 100-unit garden style apartment complex on 1600 N. Joe Ramsey Blvd. The community consists of one-, two- and three-bedroom units.

Oakwood Apartments was purchased by an anonymous Plano investor, and Hacienda Villa Apartments was purchased by an out-of-town investor with a national apartment portfolio, according to Colliers. Both properties were purchased through Auction.com.

Read more at the Dallas Business Journal and at GlobeSt.com.

Downtown Denton: new apartments open near Square 

(9/4/2014)

DENTON - Downtown Denton is becoming more residential, as two new apartment complexes — H Squared and Adagio — have opened.

H Squared features 42 one- and two-bedroom units on W. Hickory St. The Martino Group and Links Construction opened H Squared.

Brandon Martino, owner of the Martino Group, said the developers wanted to do a new high-end product in the area and see how it sold.

They were a little nervous about being the first residential project on the west side of the Square, but it has turned out well, with 85 percent of the units already leased.

The Adagio project began as an update to an older warehouse/office building. The 55-unit Adagio on S. Locust St. ranges from efficiencies to three-bedroom penthouse apartments. Jack Bell Properties is the owner.

Both also have retail spaces on the first floor. The Adagio will house Shift Coffee, and H Squared will debut Pizza Snob later in September.

Read more at the Denton Record-Chronicle. Listen to Podcast 226 for this story.

Nerium cosmetics firm to 76,000 SF in Addison 

(9/3/2014)

ADDISON - Nerium International LLC has rented almost 76,000 sf in the Forum at Beltline Complex at 4006 Belt Line Rd.

The cosmetics firm will expand by almost 50,000 sf in the move from its current office. Nerium started in 2011 with just 5,432 sf.

“Nerium absolutely looked at the market, but they like this property,” said Sharon Friedberg, of Bradford Commercial Real Estate. “It has a good owner and management plus it’s a quiet campus-like setting in the heart of Addison.”

Read more at the Dallas Morning News.

Chicken Express wings it to 89,000-SF distribution center 

(9/3/2014)

BURLESON - Chicken Express has moved into an 89,591-sf cold storage distribution center. The property makes Chicken Express the first tenant in HighPoint Business Park along I-35W.

The largest area is the 52,000-sf dry goods warehouse, which features nine loading docks and one forklift-ramp accessible door. The 30,000-sf cold storage area is comprised of an 11,000-sf -10° freezer, 6,400-sf 30° freezer, 4,500 SF 38° cooler and a spacious 40° cold storage dock.

The 8,000-sf office space is accessed through the building's main entrance. It features a reception atrium space, conference room, offices and an employee breakroom.

Chicken Express, a Texas-based fried chicken chain, was founded in 1988 and now has more than 200 restaurants in Texas, Oklahoma, Georgia, Arkansas and Louisiana.

Read more at the Fort Worth Business Press and at Bob Moore Construction.

Irving: Cheddar's Cafe HQ flows to Cypress Waters 

(9/3/2014)

IRVING - Developer Billingsley Co. has finished construction a 35,000-sf office building that will house the corporate headquarters for Cheddar’s Casual Cafe restaurant chain.

The project, which took only 190 days to complete, is located in Billingsley’s Cypress Waters at LBJ Fwy. and Ranch Trail.

“Our new space at Cypress Waters will allow us to support our 150 restaurants in 28 states and hopefully more as we continue to grow and expand,” Cheddar’s Executive Vice President Rick Payne said in a statement.

Billingsley is still working on corporate offices for 7-Eleven and Nationstar Mortgage in Cypress Waters.

The 1,000-acre Cypress Waters development is planned for 4 million sf of office space plus retail and more than 10,000 residences.

Read more at the Dallas Morning News.

205,000-SF LBJ Tower changes hands in North Dallas 

(9/3/2014)

DALLAS - The 205,000-sf LBJ Tower at 8390 LBJ Fwy. near US 75 has been sold. The new owners plan to spend about $1.6 million in improvements on the property, which is about half occupied.

A local investment group purchased the property from Houston-based Millennium First Development, which had owned the building since 2010.

The LBJ Tower is just the latest in a series of office sales along I-635. With reconstruction on the highway more than halfway completed, investors are snapping up buildings along the major thoroughfare.

Read more at the Dallas Morning News.

Majestic finishing 1M-SF spec project in Lewisville 

(9/2/2014)

LEWISVILLE - Majestic Realty Co. will complete a 1.1 million-sf speculative logistics center in October or November.

The project is the fifth building at Majestic Airport Center, which is located off SH 121 near DFW International Airport.

The Lewisville Economic Development Corporation (LEDC) has a 50-50 partnership with Majestic for the development, building utilities and road infrastructure that serves the multi-building center.

So far, Majestic has kept any news about a possible tenant quiet. “Our goal is to occupy it with one user if we can,” said Nika Reinecke, LEDC director.

Reinecke said Lewisville takes an active role in such large projects, and would offer tax incentives for a large tenant.

Read more at Community Impact Newspaper.

Chisolm Trail Pkwy. opens Crowley business horizons 

(8/31/2014)

CROWLEY - The intersection of W. 1187 and W. Business FM 1187/McCart Avenue is about to become a lot busier as a Walmart Neighborhood Market is slated to be built on the northeast corner of the intersection, east of Nicky D's Grill.

The Crowley City Council approved site plans for a Walmart Neighborhood Market on 6.6 acres on the northeast corner of the intersection.

The grocery store, which will include a pharmacy with drive-thru, will be 41,921 sf with parking for 168 vehicles.

Timing is right for the retailer, as LGI Homes broke ground in May on its 700-home Bridges of Creekside residential development adjacent to the planned grocery store.

The Walton Group has, in two separate transactions, purchased 2,023 acres along the recently-opened Chisolm Trail Parkway.

That the area is ripe for growth is an understatement. In addition to the Bridges of Creekside, Crowley will be home to two other residential developments hoping to capitalize on the city's new fast track to downtown Fort Worth.

Read more at the Crowley Star.

Frisco fields The PIT with 56,000-SF indoor soccer 

(8/28/2014 6:42:00 AM)

FRISCO - Construction has begun on a 56,000-sf indoor soccer facility, dubbed The PIT, outside of Toyota Park. The $6 million project will sit on a seven-acre tract at 7255 Meadow Hill Dr.

Plans for the soccer complex include five indoor soccer fields, event rooms and a concession area.

Performance Indoor Training (PIT) will cater to families, sports leagues, professional and semi-professional teams, youth groups, community events

The two Frisco soccer dads behind the project — Brian Duncan and James Meese — hope the new project might host regional games and tournaments for soccer, lacrosse and football. The project has no official affiliation with MLS soccer team FC Dallas.

The facility will have the first Soccer RTC training simulator in the United States. The robotic technology, which was first developed in Europe, made international headlines recently when professional players said it boosted their game.

RTC, developed by GTex Inc. in Farmer’s Branch, is a ball-feeding arena that shoots nonstop from four directions to a single receiving athlete who plays an entire match of balls in minutes.

The City of Frisco will contribute $200,000 in infrastructure costs to the project through an economic incentive deal with Indoor Plex of Frisco LLC, who is working with Duncan and Meese to develop The PIT.

The PIT is scheduled for completion on or before April 30, 2015.

Read more at the Dallas Business Journal.

iPic Frisco: Wade Park scores Pinstripes Bowling, Bocce 

(8/28/2014)

FRISCO - Thomas Land and Development has announced two new venues that will be coming to its Wade Part mixed-use development: Pinstripes Inc. and iPic Theaters.

This will be the first Pinstripes Bowling, Bocce, Bistro location in Texas offering food and fun. The iPic, meanwhile, will offer luxury seating (including full leg recliners), gourmet food and handcrafted farm-to-glass cocktails.

Pinstripes will occupy 32,000 sf of first and second floor indoor and outdoor space. The venue will feature 16 bowling lanes, ten indoor and outdoor bocce courts, patios, fire pits and event space accommodating 20 to 600 people.

iPic is known for its “premium plus” seating that includes full-leg-reclining seats, pillows and blankets and individual service-call buttons that summon servers. Guests are also able to purchase food from iPic’s restaurant concept — Tanzy Express.

Wade Park, which broke ground earlier this month, is a 175-acre mixed use development along the Dallas North Tollway and Lebanon Rd. It will also be home to Whole Foods Market and include upscale retail, fine dining, entertainment, hotels, commercial office space and residential housing.

The first phase of Wade Park, which will include Whole Foods, Pinstripes and iPic, is set to open spring 2016.

Read more at the Dallas Morning News.

Alamo Drafthouse to open third DFW location in Las Colinas 

(8/28/2014)

IRVING - Alamo Drafthouse has announced that it will open its third Dallas-Fort Worth location at the $165 million Music Factory Entertainment Center that is currently under construction near the Irving Convention Center.

The mixed-use development in Las Colinas will add an Alamo Drafthouse at SH 114 and Fuller Dr. in spring 2016.

The announcement of the Music Factory location comes just one month after the company released plans to open a location in Downtown Dallas on S. Lamar St. and Cadiz St.

Read more at the Dallas Business Journal.

For more on the Music Factory, see previous story Stealing the show: $165M Music Factory rocking in Irving.

Hillwood to start 230,000-SF AllianceTexas spec project 

(8/27/2014 7:08:00 AM)

FORT WORTH - Developer Hillwood Properties is readying to start a speculative project that will bring Alliance Gateway 24 and 25 to its 18,000-acre AllianceTexas master-planned community.

Hillwood plans to develop Alliance Gateway 24 and 25 at the southeast corner of Park Vista Blvd. and Liberty Way in Fort Worth with vacancies ranging from 25,000 sf up to more than 230,000 sf. The developer plans to complete the project by first quarter 2015.

The two projects make good on a promise Hillwood President Mike Berry made to the Dallas-Fort Worth real estate community earlier this year. The North Texas region has more than 18 million sf of industrial space under construction as the market's vacancy rates reach historic lows.

The new facilities will offer suppliers and partners of the ability to locate in proximity to the more than 370 companies already at AllianceTexas, said Tony Creme, vice president of Hillwood.

"Hillwood continues to see strong demand for industrial space at AllianceTexas," Creme said. "With the increased density we're experiencing in and around AllianceTexas, there is a great opportunity to offer space that supports the overall growth in the region."

Read more at the Dallas Business Journal.

25 Years, 34M SF later: AllianceTexas continues to grow 

(8/26/2014)

FORT WORTH - Twenty-five years after breaking ground, the AllianceTexas development north of Fort Worth continues to grow.

“There’s 3.5 million sf under construction in just three buildings — 1 million sf of it is preleased,” said Mike Berry, president of developer Hillwood Properties.

About 37,000 people work in the development, which houses more than 370 companies.

There’s now almost 34 million sf of warehouse space at Alliance housing everything from FedEx packages to Amazon.com merchandise and Nestlé chocolate.

Along with warehouse space, new development includes almost 1 million sf of shopping, an office building that just opened and hundreds of apartments. The apartments are in a mixed-use district that includes a $71 million HCA Hospital that is under construction.

Berry estimates that the project is only about half built.

Read more at the Dallas Morning News.

Yes, you can now buy a washer and dryer in Dallas' NorthPark 

(8/26/2014)

DALLAS - Pirch, a California-based appliance and plumbing store, has opened a 32,000-sf store at NorthPark Center.

The store offers a luxury showroom environment to sell a wide range of home appliances. The store is Pirch's sixth, and it also has a distribution center in Farmer's branch.

Pirch replaces Barneys New York, which left the mall in 2013. Northpark leased the empty space to Pirch and Austin-based furniture retailer Arhaus, which opens in November.

Read more at the Dallas Morning News.

Dallas: SMU sorority opens $6.5M, 25,000-SF house 

(8/26/2014)

DALLAS - The Iota Alpha chapter of the Chi Omega sorority at Southern Methodist University has moved into its new $6.5 million sorority house.

The 25,000-sf residence replaces the former SMU Faculty Club at the site at 3034 Daniel Ave. Construction began in June 2013 after the group completed fundraising for the three-story building.

The interior of the Chi Omega house includes seating for 160 members, a safe room, an art studio and in-suite study areas.

The sorority will use the house to host events as well as provide housing for about 40 members each year.

Read more at the Dallas Business Journal.

DFW: UPS grabs two distribution centers, adding 500 jobs 

(8/25/2014)

ALLIANCE, McKINNEY - UPS has announced the lease of two new package distribution facilities in Dallas-Fort Worth.

The new facilities, one located in the Alliance development in far north Fort Worth and the other in McKinney, are expected to bring 500 new jobs to the local economy.

The Alliance building, nicknamed “Independence,” will create more than 300 package handler jobs and more than 50 tractor trailer driver positions.

The 495,000-sf building at 13700 Independence Pkwy. will serve UPS customers in the North Tarrant and South Denton counties.

The second building in McKinney will bring 120 new full-time jobs to the area. UPS will occupy 215,000 sf of an 888,000-sf facility at 3000 Redbud Blvd. and will serve Collin County through the location.

The company plans to occupy the new facility in November 2014.

With the addition of these sites, UPS now has eight buildings serving Dallas-Fort Worth with more than 7,500 employees. Applicants can learn more about UPS jobs at upsjobs.com.

Read more at the Fort Worth Business Press.

Total Wine & More to 33,000 SF in Arlington 

(8/22/2014)

ARLINGTON - Total Wine & More (TW&M) has leased 33,207 sf at the Arlington Highlands shopping center at 137 Merchants Row.

The store will have 50 full- and part-time employees, according to Ed Cooper, TW&M’s vice president of public affairs and community relations.

TW&M will occupy a space formerly leased by Ultimate Electronics, which vacated the property in 2005 after filing for bankruptcy.

Source: San Antonio Business Journal

Plano: 263,000-SF Granite Park Hilton debut set 

(8/21/2014 6:53:00 AM)

PLANO - Granite Properties will officially debut its 300-room Hilton on August 29.

The 262,500-sf Granite Park Hilton (Hilton Dallas/Plano Granite Park) is located near the southeast corner of SH 121 and the Dallas North Tollway.

It includes 35,000 sf of conference space, a full-service restaurant, retail shop, a fitness center and outdoor pool and lounge.

A pedestrian boardwalk along the waterfront connects the hotel to its conference center and surrounding office buildings.

Next week's ceremony marks the completion of Granite Properties last expansion, which included Granite Park IV, a 12-story, 300,000-sf office tower that's 60 percent leased.

Granite Park IV and Granite Park Hilton make up the development firm's $150 million expansion to the business park.

Read more at the Dallas Morning News and the Dallas Business Journal.

Stealing the show: $165M Music Factory rocking in Irving 

(8/21/2014 6:50:00 AM)

IRVING - Developer Ark Group plans to begin its $165 million Music Factory Entertainment Center by the end of August.

Plans for the project include 300,000 sf of retail and restaurants, 100,000 sf of concert hall and amphitheater space with 8,000 seats, an outdoor event plaza and 100,000 sf of office space.

Ark Group is planning to host a groundbreaking ceremony in the 300 block of W. Las Colinas Blvd. near the Irving Convention Center on Saturday, Aug. 30 at 7 p.m.

In true entertainment style, Ark Group is putting together a party.

The firm is bringing food trucks, a performance from members from Dashboard Confessional and The Apples in Stereo, as well as a free outdoor movie screening of "Raiders of the Lost Ark" following the groundbreaking ceremony.

Read more at the Dallas Business Journal.

Downtown Fort Worth commercial stats 2Q 2014 

(8/21/2014)

FORT WORTH - Office and retail occupancy rates for Downtown Fort Worth for second quarter 2014 are available.

Data presented in the report are derived from the following sources: Sales and sales tax data are from the Texas Comptroller of Public Accounts, and office and retail occupancy rates from the Costar Group.

Downtown Fort Worth Office / Retail Occupancy Rates
 Type 2Q 2012 2Q 2013 2Q 2014
Office 91.3% 90.7% 85.7%
Retail 94.7% 92.4% 93.7%

Office Rental Rates
Downtown Fort Worth*
Type 2Q 2012 2Q 2013 2Q 2014
Class A $28.16 $28.35 $28.89
Class B $18.62 $20.62 $20.69
Class C $14.67 $18.10 $16.77

*Full service rent ($/SF/YR)

Read more at Downtown Fort Worth Inc.

For more stats on office, retail and more, see Dallas-Fort Worth-Arlington Market Data Sources.

Marriott hotel giddy-ups to Fort Worth Stockyards 

(8/21/2014)

FORT WORTH - The historic Fort Worth Stockyards — a well-known tourist attraction and national historic district — has landed a 124-room Marriott Courtyard hotel.

The hotel chain, which has already put its development team together, plans to begin construction immediately.

The hotel chain picked up about 2.2 acres for development of the hotel at 2533 N. Main St., adjacent to the infamous Billy Bob's Texas concert and dance hall.

The new Marriott Courtyard hotel will also be next to Cowtown tourist destinations, such as the Cowtown Coliseum, Fort Worth Livestock Exchange Building and near the historic district's cattle drives.

Read more at the Dallas Business Journal.

Saskaway acts on McKinney's 888,000-SF ex-Blockbuster HQ 

(8/20/2014 7:30:00 AM)

McKINNEY - A Canada-based investment group has purchased the 888,096-sf Blockbuster Inc. facility.

Saskaway Management plans to parcel the building located at 3000 Redbud Blvd. into a multi-tenant distribution hub.

The facility, which sits on more than 47 acres, has been vacant for the past two years.

In 2012, the former video rental giant moved its corporate offices to the McKinney distribution center from downtown Dallas after Dish Network Corp. acquired the company from bankruptcy for $320 million.

Read more at the Dallas Business Journal.

Fort Worth, Dallas condo sales comparison 2Q 2014 

(8/20/2014 6:45:00 AM)

FORT WORTH - Metro sales comparisons for condominiums and townhomes for second quarter 2014 are available courtesy of Downtown Fort Worth Inc.

Data presented in this report are derived from the North Texas Real Estate Information System’s MLS.

Condo and Townhouse Sales Comparison 2Q 2014
  Downtown
Fort Worth
Fort Worth
w/o Downtown
Fort Worth
Near Southside
Fort Worth
Cultural District
Downtown
Dallas
Units sold 32 83 0 15 28
Avg. sales price $280,522 $163,500 N/A $312,626 $293,810
Avg. list price $291,881 $170,020 N/A $323,900 $302,360
Avg. $/SF $215 $110 N/A $194 $180
Avg. DOM* 96 101 N/A 196 72
Avg. SP/LP** 96.6% 96.2% N/A 96.5% 97.2%
Avg. SF 1,304 1,483 N/A 1,604 1,628

*days on market
**sales price to list price

All information is deemed reliable but should be independently verified.

Read more at Downtown Fort Worth Inc.

Check out more multifamily and other sectors at Dallas-Fort Worth-Arlington Market Data Sources.

New 275-unit apartments coming to Frisco Square 

(8/20/2014)

FRISCO - The Ablon at Frisco Square apartments, a 275-unit urban-style apartment project will be constructed by Behringer and PegasusAblon just south of Main St. and just across from Frisco’s City Hall.

The four-story development, which stalled during the recession, is the second major addition announced for Frisco’s 14-year-old town center on the Dallas North Tollway.

The Frisco rental complex will be of the same quality that developers are building in Uptown and other central Dallas neighborhoods.

Ablon apartments is expected to be ready for first occupancy by fourth quarter 2015.

Read more at the Dallas Morning News and PRNewswire.

Perot starts 200,000-SF Dallas HQ on Turtle Creek 

(8/20/2014)

DALLAS - Perot Group has broken ground on its new headquarters, a 200,000-sf office project north of downtown on six acres at Bowen St. and Turtle Creek Blvd.

The office building will house operations for the Perot Group, Perot’s development company Hillwood Communities and other family businesses.

Hillwood bought the building site — one of the last development properties along Turtle Creek — in 2011.

The development is intended to take only about two-thirds of the Turtle Creek tract, leaving the rest of the property for nature area and open space.

Read more at the Dallas Morning News.

Dallas apartment rents up by more than 4 percent in July 

(8/20/2014)

DALLAS - In July, average apartment rents in the Dallas-area were 4.3 percent higher than a year ago, according to a new report by Axiometrics Inc.

That’s ahead of the 3.8 percent nationwide apartment rent growth rate.

“Effective rent growth has increased for five straight months, but is still a long way from the summer of 2011, when the rate was in the 5 percent range,” Axiometrics Vice President Stephenie McCleskey.

“On the other hand, it’s becoming more and more likely that 2014 will be the strongest overall year for the apartment market since the recession ended. This is the year of the apartment.”

Overall apartment vacancies in the Dallas area were just over 5 percent in July, about the same as the nationwide rate.

Almost 30,000 apartments are under construction in North Texas, making it one of the top apartment building markets in the country.

Read more at Dallas Morning News.

Frisco Aquatics adding $3M pool, sponsors as club grows 

(8/20/2014)

FRISCO - Frisco Aquatics is currently building a 29,540-sf swim center at 8353 Legacy Dr. The facility, which sits on a 3.5-acre tract, has an estimated cost of construction of $3 million, according to state filings.

The new facility, which includes an Olympic-size pool, warm water lesson pool, viewing lobby and offices, is expected to be complete sometime in September and a grand opening is expected to be held sometime this fall.

Frisco Aquatics is one of few youth sports teams in the country to build its own facility and seek corporate sponsorships. Since 2009, the Frisco club has seen unprecedented growth with its membership increasing from about 140 swimmers that year to more than 600 today.

The new center is expected to offer therapeutic swimming, Special Olympics, water safety clinics and education. It will also have SwimAmerica learn-to-swim and United States Masters Swimming programs.

The North Texas Ford Dealers Group has purchased the naming rights to the facility, and the facility will be called Texas Ford Aquatics Center beginning September 1.

Read more at Community Impact Newspapers and the Dallas Morning News.

Dallas: Preston Hollow Village's next step to 500 apartments 

(8/19/2014 9:30:00 AM)

DALLAS - Within the next 60 days, developer Provident Realty Advisors will break ground on 511 apartments at its 42-acre Preston Hollow Village project.

The apartments will span three large buildings at Preston Hollow Village, which is located at the northwest corner of Walnut Hill Lane and N. Central Expy.

The rental units will be just north of where Provident is building a shopping center that is anchored by a Trader Joe’s grocery.

The apartment development was always planned as part of Preston Hollow Village, one of the largest projects underway in North Dallas. The mixed-use development is being constructed on the site of a former rental housing community that was torn down in 2008.

Along with the 14,000-sf Trader Joe’s, there’s 61,000 sf of restaurant and shopping space, plus a parking garage. The office and retail complex at Preston Hollow Village will be open in early 2015, according to Provident CEO Leon Backes.

Read more at the Dallas Morning News.

258,000-SF Plano Tech Center sells to Cobalt Capital 

(8/19/2014 6:40:00 AM)

PLANO - Cobalt Capital Partners has purchased the 257,864-sf Plano Tech Center.

The three-building industrial project is located on East Plano Rd. and Klein Rd.

Read more at the Dallas Morning News.

Adams Golf to shutter Plano HQ; lay off 138 employees 

(8/19/2014)

PLANO - Two years after Plano-based golf manufacturer Adams Golf sold to The Adidas Group, which lumped the golf club design and assembly plant in its TaylorMade-Adidas Golf business segment, the company will shutter its doors later this year.

Adams Golf will close its manufacturing operations in Plano, which will lead to the layoff of 138 employees.

Adams Golf has a lease for 65,135 sf at 2801 Plano Pkwy., as well as another space at 2800 Technology Dr.

The company plans to lay off its first group of employees at both locations on Oct. 15, followed by the majority of Adams Golf employees by or on Nov. 30, according to Texas Workforce Commission documents.

Read more at the Dallas Business Journal.

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