Tuesday, March 25, 2014

Uptown Dallas office project moving forward

Uptown Dallas office project moving forward

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The office project is planned for the vacant corner of McKinney Avenue and Harwood Street. (Steve Brown)
One of the country’s top real estate investment firms is joining the team that plans to build an office project in Dallas’ Uptown district.
Invesco Real Estate is partnering with developer KDC to do the new office building on McKinney Avenue and  Harwood Street, just north of the Klyde Warren Park, real estate brokers say.
The vacant corner is owned by Dallas’ Shelby family which heads up LegacyTexas bank.
The McKinney Avenue office project will be more than 100,000 square feet and would be one of just a few new office buildings planned for Uptown.
A potential tenant for the building is Employees Retirement Fund of the City of Dallas, downtown leasing agents say.
The Dallas pension fund is an office tenant in the Plaza of the Americas complex on Pearl Street, which is also owned by Invesco.
Invesco Real Estate recently announced that its moving its headquarters from north of LBJ Freeway to the Trammell Crow Center in downtown Dallas.
KDC is the same developer that’s doing the huge State Farm Insurance office campus in Richardson. And KDC is building FedEx Office’s new headquarters in West Plano.

Wednesday, March 19, 2014

DFW Commercial Real Estate Transactions

Sales
Ridgeline Capital Partners purchased the Prairie View Medical Plaza, a 43,119-square-foot medical office building at 4001 Long Prairie Road in Flower Mound. Jeff Axley of Ridgeline Capital Partners negotiated the purchase.
John R. Salazar Properties Inc. sold a 24,865-square-foot office building at 8100 John W. Carpenter Freeway in Dallas to Hickory Creek Retail LP. Monika Guzman-Perez of Coldwell Banker Commercial Alliance DFW brokered the sale with Mark Pierce and Reagan Vidal of Commercial Realty Partners LLC.
A private investor purchased Main Street Medical, a 21,680-square-foot office property at 571 W. Main St. in Lewisville. Marcus & Millichap Real Estate Investment Services’ Ron Hebert and Wayne Bares brokered the sale.
Global Molecular Laboratories bought a 16,500-square-foot office condo at 610 Coit Road in Plano. Eric Morgan of Morgan Realty Group and Haley Collard of Rosewood Property Co. negotiated the sale.
Livid Lobster purchased an 8,400-square-foot commercial building at 13702 Gamma Drive in Dallas. Morrow Hill and Chris Fleeger brokered the sale with Adam Curran of Mercer Co.
Leases
Fleetpride leased 45,895 square feet of industrial space at 601 W. Mockingbird Lane in Dallas. Frank McCafferty, Kris Knapstein, Blake Anderson and David Eseke of Cassidy Turley negotiated the lease.
Curt Manufacturing leased 38,400 square feet of space at 1205 Post and Paddock Road in Grand Prairie. Tom Walrich and Reed Parker of Lee & Associates negotiated the lease with Cannon Green and Matt Dornak of Stream Realty Partners.
Nerium International LLC expanded its lease to 29,305 square feet of office and storage space in Forum at Beltline at 4004 Belt Line Road in Addison. Sharon Friedberg and Melanie Hughes of Bradford Commercial Real Estate Services negotiated the lease with Robbie Baty and Bill McClung of Cushman & Wakefield of Texas Inc.
Avcor Health Care Products leased 26,400 square feet of space at 2750 113th St. in Grand Prairie. David Wetherington and Trey West of Colliers International negotiated the lease with Cannon Green and Matt Dornak of Stream Realty Partners.
Beacon Sales Acquisition leased a 20,000-square-foot industrial space at 2716 Prestige Road in Keller. Mark Graybill and Scott Giordano of Lee & Associates negotiated the lease with Michael Newsome of NAI Robert Lynn.
TriGlobal Energy leased 12,505 square feet of office space in Bent Tree Green at 17300 Dallas Parkway in Dallas. Michael Quint of Jackson & Cooksey negotiated the lease with Rodney Helm and Ward Eastman of Cassidy Turley.
Gistics Inc. leased 12,410 square feet of office space at 5208 Tennyson Parkway in Plano. Nathan Rylander and Justin Miller of Transwestern negotiated the lease.
Fleur de Lis Energy LLC leased 11,405 square feet of office space at 909 Lake Carolyn Parkway in Irving. Justin Miller, Kim Brooks and Scott Walker of Transwestern negotiated the lease.
A design firm leased a 10,288-square-foot office space at 3900 Willow St. in Dallas. Cincha Kostman of Hudson Peters Commercial negotiated the lease with Scott Ehley.
Schlesinger Associates leased 9,622 square feet of office space at 14241 Dallas Parkway in Dallas. Kim Brooks and Fletcher Cordell of Transwestern negotiated the lease.
Done Deal IT Solutions leased an 8,420-square-foot industrial space at 2120 Hutton Drive in Carrollton from Pollock Realty LP. Janice Peters of Hudson Peters Commercial negotiated the lease with John Lancaster of NAI Robert Lynn.

Conifer Health opening new Frisco headquarters

Conifer Health opening new Frisco headquarters

The new building is on the Dallas North Tollway in Frisco.
Confer Health Solutions – a subsidiary of Tenet Healthcare – is formally opening its new headquarters building in Frisco this week.
The 4-story, 200,000 square-foot office building was developed by Duke Realty at the northeast corner of the Dallas North Tollway and Warren Parkway in Frisco.
The new office building will allow Conifer Health to nearly double its workforce to 1,200 employees, which will make it one of Frisco’s largest employers.
The company previously leased office space in the Hall Office Park in Frisco.
Confier Health process millions of healthcare payments each year for clients in 40 states.
Company officials will have a grand opening for the building tomorrow.

DFW top office market

Forecast: Dallas-Fort Worth will be a top office leasing market in 2014

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The D-FW area is expected to rank third nationally in net office leasing this year. (Marcus & Millichap)
A new 2014 forecast predicts that the Dallas-Fort Worth area will be one of the top leasing markets in the country this year.
Marcus & Millichap Real Estate Investment Services says that the D-FW area will see close to 8 million square feet of net office leasing this year. Only Houston and New York are expected to see higher office space demand in 2014.
Only about 3.5 million in net office leasing was recorded in the D-FW area in 2013.
“Markets in Texas, with their exceptional forecast employment growth, will dominate the office demand index,” researchers with the commercial real estate firm say. “Expanding service industries such as Associa, Kohl’s and State Farm have boosted the Dallas-Fort Worth regional performance.”
Marcus & Millichap predicts that overall office vacancy rates in North Texas will fall to 17 percent this year, even though about 4 million square feet of new office space will hit the market.