NewsTalk Texas

Dallas-Fort Worth-Arlington

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.

In DFW, demand and rent are rising together 

(9/12/2014)

DALLAS-FORT WORTH - A number of real estate developers throughout DFW are focused on getting apartments out of the ground as rents continue to climb.

Apartments are now prime investment opportunities.

Part of the reason for the demand is the number of jobs being added to North Texas.

DFW is one of the fastest-growing regions in the United States, with 120,800 jobs added from July 2013 to this July, according to the U.S. Bureau of Labor Statistics.

Not everyone can buy a single-family home, causing rising apartment demand along with rising rents. In the last year, DFW property owners have upped their rents 3.9 percent, according to MPF Research.

New apartments command a monthly rent of $1,300, with the latest additions in Dallas’ urban core running in excess of $1,800.

Historically, Dallas renters paid 20.7 percent of their income toward renting a home, according to Zillow research. Now, Dallas renters are spending 27.4 percent of their income on rent.

Read more at the Dallas Business Journal.

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.

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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 55,000-SF indoor soccer 

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

FRISCO - Construction has begun on a 55,000-sf indoor soccer facility, dubbed The Pit, outside of Toyota Park. The $5 million project will sit on a seven-acre tract at the southwest corner of North County Rd. and Meadow Hill Dr.

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

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 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.

Arlington Disaster Warehouse(s) 174,000 SF; largest in U.S. 

(8/18/2014 9:58:00 AM)

ARLINGTON - The American Red Cross assistance group's largest U.S. disaster supplies warehouse will open Aug. 20, 2014. The 174,000-sf facility is located on New York Ave.

Red Cross officials announced the Disaster Field Supply Center in Arlington will have enough items to support up to 100,000 victims.

The warehouse will have thousands of cots, blankets, personal hygiene items, cleanup kits, coolers and cooking supplies.

The Arlington location will also host blood drives and first aid courses and will become home to a new Disaster Action Team that will respond to local emergencies in Arlington, Mansfield, Kennedale and Grand Prairie.

Source: NBC DFW

Conti books 270,000-SF Fort Worth Star-Telegram facility 

(8/18/2014 9:53:00 AM)

EDGECLIFF VILLAGE - Conti Warehouses in Fort Worth has signed a contract to buy the 270,000-sf Fort Worth Star-Telegram printing facility.

Star-Telegram employees working at the facility will move to the newspaper's downtown offices at 808 Throckmorton St.

Conti Warehouses is known for repositioning large warehouse buildings.

The deal, which includes the facility and 38 acres of land, will be closed in early fall.

Read more at the Dallas Business Journal.

166,000-SF Tower of Frisco Square groundbreaking 

(8/18/2014)

FRISCO - Encore Enterprises is breaking ground this week on the 165,821-sf Tower of Frisco Square. The five-story office tower will be constructed on Frisco’s Main St., right across from the Toyota Stadium.

The office tower will house offices for Plano-based Gearbox Software and other business tenants.

The project is right next door to where developer PegasusAblon and investor Behringer plan to construct a 275-unit luxury apartment project in the Frisco Square development.

Encore’s project, which is in partnership with Wolverine Interests, will be ready in 2015.

Read more at the Dallas Morning News.

Grapevine's 202,000-SF DFW warehouse sold to Minn. firm 

(8/18/2014)

GRAPEVINE - A Minneapolis investor has purchased a 202,140-sf warehouse complex at Dallas-Fort Worth International Airport.

The two-building industrial campus is located at 2400 Esters Blvd. and is fully leased to DB Schenker.

The buyer is an affiliate of Minneapolis-based Olympic Ventures. The complex was constructed in 2008.

DB Schenker has five years remaining on its lease at the two properties.

Read more at the Dallas Morning News.

Dallas Orange DART(s) to DFW airport station 

(8/18/2014)

DALLAS-FORT WORTH - The newest stop on the Orange Line at Terminal A is open, according to officials from Dallas Area Rapid Transit and DFW International Airport.

The five-mile addition to the route makes DFW Airport the world’s third-busiest airport with direct rail access.

The Orange Line extends through Dallas and continues to Plano with stops in downtown Plano and at Parker Rd. The DFW Airport station provides an alternative to parking for people wishing to take long-term trips.

A trip to the airport on DART Rail can be covered by a two-hour pass for $2.50, but longer-range travel options are available.

Read more at impactnews.com

Mill Creek adding 179 apartments to Dallas N. Central Expy. 

(8/18/2014)

DALLAS - Developer Mill Creek Residential Trust has started work on a 179-unit apartment community on N. Central Expy. and Elizabeth St. The seven-story development is being built on the site of a two-story office building that Mill Creek is currently demolishing.

The project is scheduled for completion at the start of 2016.

Mill Creek was formed in 2010 by former top officers of Trammell Crow Residential. The Dallas-based builder expects to finish more than 4,000 apartments this year.

Read more at the Dallas Morning News.

Stephenville: Tarleton State housing $38M in phase two 

(8/15/2014)

STEPHENVILLE, ERATH COUNTY - Tarleton State University will soon break ground on a $38 million second phase of student housing development. The project includes the construction of a new 502-bed facility and the renovation of an existing 80-bed facility.

The new dorm will consist of a four-story structure with four- and two-bedroom units that will include private bedroom accommodations, semi-private baths, a living room and kitchenette.

University Village, an off-campus student housing facility located at 805 N. Lillian St., will receive minor upgrades to allow for ADA compliance. Upon completion, Tarleton will maintain and operate both facilities.

In August, the university will complete construction on a $25 million residence hall at the corner of Jones St. and Lillian St. Work on the four-story hall began summer 2013. The 514-bed facility will help the university provide accomodations for an increasing student enrollment.

Read more at Student Housing Business.

For more on the soon-to-be-completed residence hall, see Tarleton State University and previous story Tarleton State readies for $25M housing.

700,000-SF JJ Lemmon Distribution starts by Crow on I-20 

(8/14/2014 11:00:00 AM)

DALLAS COUNTY - Trammell Crow, Clarion Partners and Rosewood Property Co. have purchased almost 100 acres in Far South Dallas to build a more than 700,000-sf, Class A industrial warehouse project.

The project, located at the northwest corner of I-20 and I-45, is called the JJ Lemmon Distribution Center.

“Class A industrial space in the Southern Dallas market is scarce and demand remains strong due to the efficient network of highways including I-20, I-45 and I-35 as well as the UP Intermodal,” Scott Krikorian, Crow senior managing director, said.

Work has begun on the two-building development, which is expected to be open by mid-2015.

Read more at the Dallas Morning News.

NTREIS: DFW area home sales sold July 2014 

(8/14/2014 8:45:00 AM)

DALLAS-FORT WORTH - North Texas Real Estate Information Systems (NTREIS) released home sales facts for July 2014.
Some quick facts include:

•  The median price of existing single-family homes increased to $189,900, the same as June 2014.
•  Existing single-family home sales decreased 5.4 percent from June 2014 for a July 2014 total of 8,059 units sold.
•  Condos increased in price to $164,990 up 3.8 percent from June 2014.
•  Existing condo sales decreased 14.2 percent in July 2014 over June 2014 for a total of 501 units sold.

Select region cities are represented below along with statistics from the NTREIS area as a whole.

NTREIS June 2014 Regional Sales and Price Activity
MLS Wide Median Price
  July 2014
Price Chg.
vs. July 2013
Units Sold
  July 2014
Sales Chg.
vs. July 2013
NTREIS
(single-family)
$189,900 5.6% 8,059 -7.6%
NTREIS (condo) $164,990 10.0% 501 -3.8%
Region Cities*        
Fort Worth $159,400 7.1% 894 -7.9%
Dallas $289,000 9.6% 718 -15.7%
Frisco $315,000 14.1% 315 -1.3%
Plano $275,000 10.0% 315 -19.4%
Arlington $150,000 7.1% 314 -8.7%
Garland $138,250 2.0% 192 -11.1%
Allen $249,900 4.8% 154 -6.1%
Denton $169,150 -0.4% 142 -8.4%
Flower Mound $324,950 8.5% 140 -9.1%
Carrollton $199,000 2.1% 139 -19.2%
Grand Prairie $169,900 4.2% 139 -22.3%

*Region Cities' data include single-family only and represent 11 select cities sorted by units sold.

See Housing under Dallas-Fort Worth-Arlington Market Data Sources or see the full report from North Texas Real Estate Information Systems.

REIT pays $28M for Lewisville's 163,000-SF Lake Vista Pointe 

(8/14/2014 7:00:00 AM)

LEWISVILLE - City Office REIT has purchased Lake Vista Pointe, a 163,336-sf office building located at 2911 Lake Vista Dr. The contract purchase price for the property was $28.4 million, exclusive of closing costs.

Built in 2007, Lake Vista Pointe is 100 percent leased to Ally Financial Inc. The property is part of Vista Ridge Business Park, which is home to a variety of large institutional companies such as JPMorgan Chase and TIAA-CREF.

Lake Vista Pointe is leased to Ally Financial on a triple-net basis through April 30, 2021. Ally has one five-year renewal option of the lease. The property consists of a two-story office building with 1,070 parking spaces on 13.8 acres.

Read more at Equities.com and at City Office REIT.

Hoya Optical: 102,000-SF Grapevine relocation in sight 

(8/14/2014)

GRAPEVINE - Hoya Optical will be moving in October to a 203,024-sf, Class A industrial building in Grapevine.

The leading supplier of advanced optical materials will occupy 101,817 sf at the building located at 755 Regent Blvd.

Built in 2013, the building sits right by the International Pkwy. in the International Commerce Park and in the Las Colinas industrial area.

Read more at CoStar Group.

Dallas Love to San Francisco, Oakland 

(8/13/2014)

DALLAS - Southwest Airlines has announced it will begin a daily flight from Dallas to both San Francisco and Oakland on January 6, 2015.

Right now, Southwest is limited to a handful of states that it can serve nonstop out of Dallas Love Field, and California isn’t one of them. On Oct. 13, the Wright amendment restricting Love Field expires, allowing nonstop service to any U.S. airport out of the Dallas airport.

Southwest’s first announcement included Los Angeles, New York, Washington and Chicago. These services are set to begin on Oct. 13 and Nov. 2.

The addition of Oakland and San Francisco were part of Southwest’s new schedule, extended into March 2015.

Read more at the Dallas Morning News.

Plano 474-unit Windhaven Park purchased 

(8/13/2014)

PLANO - Dallas-based Beneke Krieg Co. has purchased the 474-unit Windhaven Park.

The rental community is located at the northwest corner of Windhaven Pkwy. and Communications Pkwy., near the Dallas North Tollway.

Built in 1991, Windhaven Park is 95 percent leased.

Read more at the Dallas Morning News.

DFW home prices up 5.2 percent in 2Q 2014 

(8/13/2014)

DALLAS-FORT WORTH - DFW home prices were up 5.2 percent in second quarter 2014 from 2013, according to a survey by the National Association of Realtors, which analyzed 173 U.S. housing markets.

Nationwide, prices were up 4.4 percent, the smallest increase since 2012, while median sales prices in second quarter were at a record $212,400.

The comparable median price in the DFW area for 2Q 2014 was $191,300, while Austin had the highest median price in the state at $247,500.

DFW home price gains cooled substantially from the 9 percent rise in first quarter 2014.

For the first seven months of 2014, North Texas median prices were up 7 percent from the same period last year.

Read more at the Dallas Morning News.

Gas Monkey to open 38,000-SF Dallas venue 

(8/13/2014)

DALLAS - Gas Monkey will be opening a 38,000-sf venue across the street from its restaurant and bar near I-35.

The venue will be called Gas Monkey Live and will include a game room with pool tables and vintage pinball machines, as well as a VIP area with booths and table service.

Gas Monkey Live’s capacity sits an estimated 2,500 people.

The venue, owned by reality TV star Richard Rawlings, will have its grand opening on October 11.

Read more at the Dallas Morning News.

Denton County opens $15.7M juvenile center expansion 

(8/13/2014)

DENTON COUNTY - Denton County has opened a $15.7 million addition to its Juvenile Detention Center at 210 S. Woodrow Lane.

The expansion consisted of two buildings totaling about 55,000 sf. The juvenile post-adjudication building is 25,000 sf, while the building for the Juvenile Justice Alternative Education Program is about 29,000 sf.

The addition added 32 beds, eight classrooms, a cafeteria with an auditorium, an administration area and a visitation area.

The 32 beds are for those who have been ordered to be in that program and that facility by the juvenile court.

The addition is part of the master plan for the entire campus, which includes the county courthouse, jail and juvenile center.

Read more at the Denton Record-Chronicle.

Pier I takes 313,000 SF of Fort Worth Chesapeake Plaza 

(8/12/2014 1:00:00 PM)

FORT WORTH - Pier 1 Imports will get its name back on the 20-story office tower it built as a headquarters a decade ago following the building’s sale by Chesapeake Energy to Houston-based Hines.

Pier 1 will expand its headquarters lease and take over 19 floors, or more than 313,000 sf of space. Chesapeake will consolidate its employees and offices to the building’s 20th floor.

The office complex on the banks of the Trinity River was built for Pier 1 Imports and later became home to Chesapeake Energy.

Chesapeake bought the building, at 100 Energy Way, from Pier 1 Imports for $104 million in 2008, renaming it Chesapeake Plaza. Pier 1 built the 460,000-sf office tower that opened in 2004, spending $90 million for the land and construction. Its original address was 100 Pier 1 Place.

The central business district has a current vacancy rate of 17.2 percent in its Class A buildings, according to market reports. Sales prices of Class A buildings in the past year have been about $170 per sf, the report said.

The building is being renamed the Pier 1 Imports Building to recognize its long-term commitment to the property.

Read more at the Dallas Morning News and Fort Worth Star-Telegram.

H-E-B doubling Cleburne location with new store 

(8/12/2014)

CLEBURNE - H-E-B has broken ground on its new store at 600 W. Henderson St., directly behind the current location.

The new store will be twice the size of the original location, showcasing 70,000 sf of products, expanded departments and new services. Construction is expected to be completed in spring 2015.

H-E-B is also adding 30,000 sf to its Waxahachie store, and is turning the Burleson location into DFW’s first H-E-B Plus! store, which will be 115,000 sf.

H-E-B has more than 350 stores across Texas and Mexico and generates $20 billion in annual sales.

Read more at the Dallas Business Journal.

Stephenville: Texas Health $14M emergency dept. underway 

(8/12/2014)

STEPHENVILLE, ERATH COUNTY - Construction is now underway to build a new $14 million emergency department at Texas Health Harris Methodist Hospital Stephenville.

The new emergency department will have 12 beds. The project also includes a new drop off canopy and ambulance entrance and renovation of the existing emergency department entrance. The construction will add 15,725 sf of new space and will renovate 3,102 sf.

Completion is expected in summer 2015.

Read more at the Stephenville Empire-Tribune.

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