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Real Deals: Riverside Commons in Las Colinas soldMarch 14, 2014
The Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.
Riverside Commons in Las Colinas sold
Riverside Commons, the six-building office complex in Irving’s Las Colinas area, has been snapped up by Brookfield Property Group.
The Class A property boasts 460,297 square feet, of which 37 percent are leased.
Arranging the transaction on behalf of the seller were Gary Carr, Eric Mackey, John Alvarado and Robert Hill of CBRE Group Inc.
“Investors were attracted to this asset due to its high-profile Las Colinas location and asset quality,” said Mackey, senior vice president of CBRE, commenting in a news release.
“Riverside Commons also offers tremendous upside through the lease-up of available space within one of Dallas’ top resurging office submarkets,” Mackey said.
Salazar law firm’s former HQ building is sold
John R. Salazar has sold a 24,865-square-foot, two-story office building in Dallas’ Stemmons corridor to a North Texas-based investment group in an all-cash transaction.
The personal injury attorney’s longtime location at 8100 John W. Carpenter Freeway in west Dallas went on the market last year after his law firm's headquarters had relocated to Salazar Center, a tower he owns in downtown Dallas.
Representing the seller of record, John R. Salazar Properties Inc., in the transaction was Monika Guzman-Perez of Coldwell Banker Commercial Alliance DFW. The buyer, Hickory Creek Retail LP, was represented by Mark Pierce and Reagan Vidal of Commercial Realty Partners LLC.
Salazar is maintaining a 1,800-square-foot suite at 8100 John W. Carpenter Freeway for the future while the 9,500-square-foot balance of his former headquarters office is marketed for lease.
Flooring Services breaks ground on Lewisville project
Flooring Services Inc. has broken ground on a two-building complex in Lewisville, bringing its North Texas operations into a single location.
“When this project is completed, it will be a tremendous showcase for Flooring Services,” said Larry Knox, executive vice president of Bob Moore Construction Inc., the Arlington firm serving as general contractor for the project, with Dallas-based Pross Design Group acting as architect.
The March 7 groundbreaking celebrated 421,000 square feet of commercial space planned for the site, along Texas 121. Planned for Building A are 204,350 square feet of warehouse space, 57,688 square feet of corporate offices and a 54,350-square-foot master showroom. The second building will provide 105,004 square feet of manufacturing space for the company’s hard surface products.
Since 1983, Flooring Services has provided flooring and interior building products for Texas, Oklahoma and Louisiana customer.
The Lewisville project is expected to reach complete in first quarter 2015.
Security State Bank has signed a lease for 1,530 square feet at Stonegate Plaza I, 2813 S. Hulen St. in Fort Worth, according to Xceligent Inc. Representing the landlord, Texas KP LP, in the transaction was Jeffrey Day of Centra Partners LLC.
Willow Bend Mortgage Co. has signed a lease for 1,530 square feet at Stonegate Plaza I, 2813 S. Hulen St. in Fort Worth, according to Xceligent Inc. Representing the tenant in the transaction was David Cason of Holt Lunsford, with Jeffrey Day of Centra Partners LLC representing the landlord, Texas KP LP.
Villa Grande Mexican Restaurant has signed a lease for 4,000 square feet at 14113 Trinity Blvd. in Fort Worth, according to Xceligent Inc. Representing the tenant in the transaction was Paul Vernon of John T. Evans. Mickey Ashmore of United Commercial Realty-DFW represented the landlord.
H&R Block has renewed its lease for 2,000 square feet at Village Square Shopping Center, 732 E. Pipeline Road in Hurst, according to Xceligent Inc. Representing the tenant in the transaction was Katie O’Toole of Cassidy Turley Commercial Real Estate Services. Karen Simon and Erik Blais of Bradford Commercial Real Estate Services-Fort Worth represented the landlord, Engelsma LP.
Joe's Italian Cafe has renewed its lease for 5,379 square feet of retail space in Forum at Beltline, 4002 Belt Line Road in Addison. Representing the landlord, ARI Forum LLC, in the direct deal were Sharon Friedberg and Melanie Hughes, senior vice presidents of Bradford Commercial Real Estate Services.
Nationwide Insurance Co. agent Suzanna Harrison has renewed the company’s lease for 2,572 square feet of office space in Tribros Plaza, 3825 Green Oaks Blvd. West in Arlington. The landlord, Tribros Properties, was represented in the direct deal by Beaux Riley of Coldwell Banker Commercial Alliance DFW.
Alvy's Logistics/Alvy's Trucking LLC has renewed its lease for 2,337 square feet of office space in Plaza Tower, 2121 Airport Freeway in Irving. Representing the landlord, Hastings Cove Ltd., in the direct deal was Beaux Riley of Coldwell Banker Commercial Alliance DFW.
Gecko Green has leased 9,075 square feet of warehouse space in Gateway Business Center, Building 4, 6015 Commerce Dr. in Irving from Eltz-Gateway LP. Representing the tenant in the transaction was Brian Pafford, senior vice president of Bradford Commercial Real Estate Services. Chris Andler of Property Advisers Realty Inc. represented the landlord.
DCT Industrial has purchased 100,423 square feet at Centreport Business Park, 4200 Diplomacy Road in Fort Worth, according to Xceligent Inc. Henry Miller III of Henry Miller III Commercial Real Estate Services represented the buyer, and D. Conrad Madsen III and Greg Nelson of Lee & Associates represented the seller, Cutler Holdings.
Dearborn Land Investment has purchased four acres north of Interstate 30 across from AT&T Stadium in the 1400 block of Wet N Wild Way in Arlington. The seller, Arlington Land Associates, was represented by Pat McDowell of JLL (formerly Jones Lang LaSalle). Fernando Camargo of Camargo Realty represented the purchaser.
2450 Handley Ederville has purchased 22,000 square feet of industrial space in Fort Worth. Representing the seller were Jeff Givens and Ben McBroom of Transwestern.
Nerium International LLC has expanded to 29,305 square feet, leasing 5,508 square feet of additional office and storage space in Forum at Beltline, 4004 Belt Line Road in Addison. Representing the landlord, ARI Forum LLC, in the transaction were Sharon Friedberg and Melanie Hughes, senior vice presidents of Bradford Commercial Real Estate Services. Robbie Baty and Bill McClung of Cushman & Wakefield of Texas Inc. represented the tenant.
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