Wednesday, March 21, 2018

February Housing Stats - DFW

  • A local buyer purchased Town Place and Castle Place, a 116-unit apartment portfolio in Dallas Marcus & Millichap’s Al Silva and Ford Braly represented the seller. 

  • BCG renewed its 70K SF lease at Harwood No. 6-Saint Ann Court. CBRE’s Harlan Davis, Neal Puckett and Phil Puckett represented the tenant. Harwood’s Hannah Waidmann and Kelly Whaley represented Harwood. 

  • Extreme Wholesale Inc. leased 10K SF from Signature Imaging Corp. at 1700 Surveyor Blvd. in Carrollton. Mercer Co.’s David Wilganowski represented the tenant.  

  • Mosley Basketball dba PickUP USA Fitness leased 17K SF of industrial flex space in Sandy Lake Business Center, 989 West Sandy Lake Road in Coppell. Bradford Commercial Real Estate Services’ Erik Blais represented the landlord, H2C Enterprises Inc. Colliers’ Allyson Yost and Cole Hooper represented the tenant.

  • AM Linen Service dba Linen Rental leased 13K SF at 2623 Brenner Drive in Dallas from Knopf Family L.P. Mercer Co.’s Keenan Cook represented both the tenant and the landlord.

Wednesday, March 14, 2018

10 Acres Developable Land, Buildings & Award Winning 30 Yr (BBB A+) Landscape Co. On State Highway 377 & 1187

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DFW Commercial Real Estate Sales and Leases

NPR Properties LLC purchased a former Audi dealership in Euless from Baillargeon Audi Dealership. The buyer will lease the dealership to Excellence Auto; NPR Properties is Excellence Auto’s real estate arm. The property includes a 34K SF showroom, hail shelters and a photo studio with an automobile turntable. Beil Partners’ John Bielamowicz and David Little Real Estate’s David Little represented the seller. Rubicon Representation’s Daniel Miller represented the buyer.

Polk Street Industrial’s Taylor Meyer purchased a 289K SF industrial property at 4949 Joseph Hardin Drive in Dallas from Linron Properties. JLL’s Dustin Volz, Zane Marcell and Grant Matthews represented the seller. 

An international buyer group purchased Preston Frankford Crossing, a 35K SF shopping center at 18101 Preston Road in Dallas. CBRE’s Jared Aubrey and Michael Austry brokered the sale. 

An international buyer group purchased Edinburg Plaza, a two-building, 16K SF shopping center at 2720-2758 West University Drive in Edinburg. Jared Aubrey and Michael Austry with CBRE in Dallas brokered the sale. 

TH Real Estate purchased a 448-unit multifamily property, Churchill on the Park, in North Dallas from a New York-based pension fund adviser. Institutional Property Advisors’ Will Balthrope, Drew Kile and Joey Tumminello represented the seller and secured the buyer. 

A private investor purchased a 396-unit multifamily portfolio composed of Woodhollow and Pebble Cove, both in Dallas, from a local investor and a local partnership. Marcus & Millichap's Al Silva and Ford Braly represented the sellers. Silva and Braly, along with Marcus & Millichap's Mark McCoy, secured the buyer.

 LBA Realty purchased a three-building industrial portfolio near DFW Airport from Transpacific Development Co. JLL’s John Huguenard and Dustin Volz represented the seller. The portfolio totals 578K SF.

Ascend Growth Partners purchased the 101-room Staybridge Suites Plano Frisco at 8355 Parkwood Blvd. in Plano from Granitepark-Parkwood LLC. CBRE’s Michael Yu, Rahul Bijlani and Agrama Mannapperuma arranged the sale. 


TriGate Capital leased 12K SF from M-M Properties at Comerica Bank Tower in Dallas. M-M Properties’ Mike Silliman represented the landlord, and Trigate Capital’s Jeff Yarckin represented the tenant.

Niles Building Products Co. renewed its 12K SF industrial lease at 609 Ave. R in Grand Prairie. Bradford Commercial Real Estate Services’ Michael Spain and Jim Ferris represented the landlord, DCT Industrial Trust.

LS Elite LLC leased 30K SF at 2655 Freewood Drive in Dallas from Keith & Ben Properties LLC. Mercer Co.’s David Guinn represented the tenant. Stream Realty’s Ryan Boozer and Todd Poticny represented the landlord.

Superior Industrial Products leased 10K SF at 4201 East Loop 820 South in Fort Worth. Whitebox Real Estate's Evan Hammer represented the tenant.

Texas Floor Source leased 34K SF at 301-381 East Exchange Parkway in Allen Station. Whitebox Real Estate's Grant Pruitt and Evan Hammer represented the tenant.

Wednesday, February 28, 2018

DFW Sales & Leases


Madera Residential purchased a 176-unit multifamily property, Woodway on the Green at 6201 Woodway Drive in Fort Worth, from an unnamed local private investor. Marcus & Millichap’s Al Silva, Mark McCoy and Ford Braly represented the seller and secured the buyer.

A local investment partnership purchased 9,200 SF and 18K SF of land at 4433 McKinney Ave. in the Knox/Henderson neighborhood from a private partnership. The sale was brokered by Henry S. Miller Brokerage’s Lane Kommer.

Quine & Associates' Brad Quine negotiated the sale of the 77K SF Benbrook Shopping Center at Highway 377 and Cozby South Street in Benbrook.

A private investor purchased Shoppes at Mineola, a 15K SF retail property in Mineola, from an unnamed LLC. Marcus & Millichap’s Philip Levy represented the seller and secured the buyer.

ZM Briercroft II LLC purchased a 38K SF property at 1730 Briercroft Court in Carrollton from Rebel Trace L.P. Mercer Co.’s Keenan Cook represented the buyer. Hudson Peters Commercial’s Michelle Hudson represented the seller.

Hutlas Holdings bought 2331 Farrington St., an 11K SF property in Dallas, from Fegan Fine Art Restoration. DW Co.’s Diane Williams represented the buyer. Mercer Co.’s David Guinn represented the seller.

An affiliate of Stonelake Capital Partners bought a 39K SF warehouse in Dallas at Lone Star Business Park from 6 Brothers Realty. Bradford Commercial Real Estate Services’ Joe Santaularia and Brock Wilson represented the seller.

One Real Estate Investment owns 224-unit Fort Worth multifamily community, The Summit at Landry Way.


Green Planet 21 leased 69K SF at 4300 Diplomacy Road in Fort Worth from Denali Texas Diplomacy. Lee & Associates' Reed Parker represented the tenant. Lincoln Property Co.’s Gil Stroube represented the landlord.

Monday, February 26, 2018

Cap Rate Survey - End of 2017

  1. Commercial real estate pricing was broadly unchanged in H2 2017, with the exception of some retail segments.
  2. Industrial cap rates fell by 13 basis points (bps) to 6.52%. No segment of the industrial market failed to compress.
  3. Multifamily infill cap rates fell to 5.23% on average from 5.27% in H1. Stabilized suburban assets also declined to 5.59% from 5.66%.
  4. Office sector cap rates were generally stable, but CBD assets fell slightly to 6.65% from 6.67%. Cap rates for hotels were firm.
  5. Retail cap rates increased, with power centers moving to 7.98% from 7.54%. Neighborhood and high-street retail cap rates increased slightly by 7 and 9 bps, respectively.
Source: CBRE Research

Sunday, February 25, 2018

Downtown Jail May Convert to Homeless Shelter - Mehrdad Moayedi of Centurion American Development

Mehrdad has made an offer to buy the vacant Dawson State Jail that is sitting downtown on the banks of the Trinity River. Moayedi says he wants to turn the 10-story building into a housing and services center for Dallas’ homeless population. This is the best idea ever, and one I have actually had for years. In fact, I can say that this idea got me into City politics when I first started emailing my councilman, Lee Kleinman, about it.
Mehrdad is CEO of Farmers Branch-based Centurion American Development Group. He owns vast tracts of developments across the North Texas landscape, including The Stoneleigh Residences, the Cabana Hotel, and of course, the Crespi Estate that he purchased in December from Andy Beal via Concierge auction.
His firm just completed a $230 million renovation of the Statler Hotel and Apartment Residences, which are quickly leasing. Lest I forget: Centurion American recently purchased for a makeover the landmark Mesquite Rodeo. There are other properties in this town that Mehrdad has re-made, he is literally the king of real estate makeovers.  
Dawson may not exactly be a mid-century relic: the 23-year-old jail  (West Commerce Street near Riverfront Boulevard) has been fallow for years. The state has it up for sale. I know of at least one other developer interested in buying it, but I’m sworn to secrecy. Obviously there is no parking, which makes it rather difficult for an apartment/condo/office, office. That’s why it is the perfect place for an out-of-the-box approach to housing the homeless. It has plumbing for bathrooms, rooms, hallways. Take out the bars and locks, put in warm colors and a few Nectar/Casper beds. 
Mehrdad has offered the state more than $3 million to buy the property; the state has countered with a higher price. He says it will take $10 million to remodel, which he wants to do entirely through private funding, and could house up to 1,000 people with facilities for medical, mental health and job counseling services.
Some Dallas homeless experts believe that housing for all is the only way to fight homelessness, a concept with which I currently disagree. I think some folks in our society always need “housemothers” to help them through life, which is essentially what in-house counseling services would provide.
“We need people in housing not shelters, long term,” said Larry James, the chief executive with Dallas’ CitySquare, who also says Dallas needs a comprehensive housing policy. Totally true. But he admits Mehrdad has done “impressive stuff, and is capable of delivering.”
Full Article by Candy Evans:

February Housing Stats - DFW