Real Deals: Trails at River ParkMay 2, 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.
The Trails at River Park in Arlington acquired
WinnCompanies and The Roseview Group, a private real estate investment and advisory firm, have acquired The Trails at River Park apartment complex in Arlington through their fund, Roseview WinnResidential Fund I.
The Trails at River Park is the fund’s first acquisition. It offers a garden-style community comprising 420 residential units in 23 buildings. The Trails has direct access to River Legacy Park, a 1,300-acre public park with wooded biking, hiking and jogging trails extending for miles along the West Fork of the Trinity River. Built in 1980, the complex offers one- and two-bedroom units and is currently 96.4 percent leased.
“The Dallas area is a strong multifamily market, and the past success of this property indicates that it is a good value-add opportunity for the Fund,” said Vince Costantini, managing partner and CEO of The Roseview Group, in a news release.
Established in 2013, Roseview WinnResidential Fund I is a discretionary real estate separate account with a U.S. pension fund investing in Class B and C multifamily properties offering at least 150 units. A rehabilitation program allows the firm to competitively reposition the properties and add value without taking them out of service.
Such plans await The Trails at River Park, which will feature an improved clubhouse, a new fitness center and a dog park. Interiors of about 300 apartments will be renovated in the next three years.
WinnResidential, the property management arm of WinnCompanies, will act as property manager and operator for The Trails at River Park.
WinnCompanies and Roseview Group said they plan to fully invest Roseview WinnResidential Fund I in the next 12 months.
Inland Real Estate Acquisitions Inc. has purchased Tarrant Parkway Commons, a 56,722-square-foot, fully occupied retail property on the northeast corner of U.S. 377 and North Tarrant Parkway in Keller. Marketing the property on behalf on the unnamed seller were Adam Howells, Kevin Catalani and Jessica Donnelli of UCR Investment Sales. The buyer was represented internally by Matthew Tice.
A Bedford property net-leased to 24 Hour Fitness has been sold to an unnamed East Coast-based investor. The 39,350-square-foot property is at 1805 Airport Freeway. Marketing the property on behalf of the seller, an out-of-state private investor, were Jason Vitorino and Jared Aubrey of Marcus & Millichap Real Estate Investment Services. Vitorino and Aubrey also secured the buyer.
Du Brolis Properties has purchased a 7,300-square-foot building at 1715-21 W. Berry St. in Fort Worth. Colour Basis and Atlas Financing are the site’s main tenants. Du Brolis plans to remodel the building for its new office. Holly Roberts of Coldwell Banker Residential Brokerage represented the buyer. Chris L. Stewart of Coldwell Banker Commercial Searcy Vasseur Group represented the seller, Jones Partnership.
Bargreen Ellingson has purchased and will occupy a 20,000-square-foot industrial building at 2450 Handley Ederville Road in Fort Worth.
The buyer, a restaurant supply, design and fabrication firm, will relocate from a smaller Fort Worth location to the new facility.
Matt Spellman of Mercer Co. represented the buyer and Transwestern represented the seller, GPS DFW Holdings LLC.
Knopf Family Ltd. Partnership has purchased 32,852 square feet at DFW Industrial Park Phase IV, 1712 Minters Chapel Road in Grapevine, according to Xceligent Inc. Representing the buyer in the transaction was Jeremy Mercer of Mercer Co.
99 Cent Only Store Texas Inc. has leased 16,529 square feet at 455 Sherry Lane in Fort Worth. Representing the tenant in the transaction were Daniel Taylor and Andrew Wiley with CBRE-Dallas. Chris Sacks and Jeff Kittleson with CBRE-Dallas represented the landlord, Arrowrock Westover Village LP.
Dallas MTA LP has leased 5,397 square feet at 2936 W. Seventh St. in Fort Worth. Daniel Taylor of CBRE-Dallas represented the buyer and Robert Williams of Centric Capital Partners represented the landlord, HF Seventh Street LP.
B2B Industrial Packaging has leased 2,200 square feet at 3430 Hilldale Road, Suite 200, in Fort Worth. Representing the landlord, Hilldale Investors Ltd., in the transaction was Chris L. Stewart of Coldwell Banker Commercial Searcy Vasseur Group.
Nippon Express USA Inc. has leased 40,000 square feet at Dallas/Fort Worth International Airport, 1100 N. 28th St. Noel Huchison of Colliers represented the tenant. The landlord, LIT Industrial LP, was represented by Adam Hammack and Steve Trese with CBRE Group Inc.-Dallas.
The city of Grapevine has leased 20,000 square feet at 1250 William D. Tate Blvd. in Grapevine. Representing the tenant was Michael Stern of Edge. Amy Nott of CBRE-Dallas represented the landlord, KKM Grapevine LLC.
Pedals Cycling Studio has leased 2,016 square feet at Arthouse Keller, 251 Town Center Lane in Keller, according to Xceligent Inc. The landlord, Amstar-Southern Art House, was represented in the transaction by Chris Flesner and Sam Littlejohn of Retail Solutions.
Brooklyn’s Best Pizza has leased 6,332 square feet at Arlington Park Square, 3799 S. Cooper St. in Arlington, according to Xceligent Inc. Representing the landlord in the transaction was Jon McDaniel of NAI Robert Lynn.
Highway 55 Burgers, Shakes and Fries has leased 3,600 square feet at Harwood Plaza, 8401 Boulevard 26 Way in North Richland Hills, according to Xceligent Inc. Representing the tenant in the transaction was Jon M. Corts. Jake Burns and Eric Deuillet of Structure Commercial represented the landlord.
EcoLab Inc. has leased 51,600 square feet at Riverbend Tech Center, Building 37, 7443 Pebble Drive in Fort Worth, according to Xceligent Inc. Representing the landlord was Jeff Givens of Transwestern.
Mira Designs has leased 5,400 square feet at Riverbend, Building 1, 2671 Gravel Road in Fort Worth, according to Xceligent Inc. George Jennins and Donnie Rohde of Holt Lunsford-Fort Worth represented the landlord in the transaction.
United Refrigeration Inc. has leased 12,600 square feet at 1300 Forum Way South in Fort Worth, according to Xceligent Inc. Representing the landlord in the transaction were Todd Hawpe and Sarah Everett of Transwestern-Fort Worth.
Kerr Industries has renewed its lease for 49,766 square feet at 1101 N. Great Southwest Parkway in Arlington, according to Xceligent Inc. Jim Hazard of E. Smith Realty represented the tenant.
Holland Investment Management has leased 1,085 square feet in the Liberty Bank building, 7001 Boulevard 26 in North Richland Hills, according to Xceligent Inc. Representing both the tenant and landlord in the transaction were Jeffrey Day and Zac Thomas of Centra Partners LLC-Fort Worth.
Harrington Moran Barksdale Inc. has leased 3,079 square feet at the Bank of America building, 2000 E. Lamar Blvd. in Arlington, according to Xceligent Inc. Representing the tenant was Jason Brecheen of Swearingen Realty Group LLC. Theron Bryant and Casey Tounget of Coldwell Banker Commercial Alliance-DFW represented the landlord, RWM Lamar Building Group.
Green Oaks Physical Therapy LP has leased 2,095 square feet at 4000 MacArthur Blvd. in Irving. Amy Nott of CBRE-Dallas represented the landlord, Las Colinas Plaza LLC, in the transaction was.
E System Management LLC (a Sprint dealer) has leased 2,048 square feet at 2400 E. Pioneer Parkway in Arlington. Michael Meadon of CBRE-Dallas represented the tenant. Jon Daniel of NAI represented the landlord, PPUG LLC.
Trakk Fulfillment has leased 61,355 square feet at 204 Airline Drive in Coppell. Representing the tenant was Ryan Boozer with Mercer Co. Adam Hammack and Steve Trese with CBRE Group Inc.-Dallas represented the landlord, Teachers Insurance and Annuity Association.
Xylem Dewater Solutions Inc. has leased 12,000 square feet at 3001 Roy Orr Blvd. in Grand Prairie. Representing the tenant in the transaction was Michael Chiocca with CBRE-Dallas. Kacy Jones and Steve Koldyke with CBRE-Dallas represented the landlord, Contractors Access Equipment Inc.
DMA Claims Management Inc. has leased 2,171 square feet at 580 Decker Drive in Irving. Kelley Ahrens with CBRE-Dallas represented the tenant, and Michael Huge with Huge Realtor Advisors represented the landlord, RMI Colonial Plaza LLC.
BIR JV LLP has leased 2,500 square feet at 12500 South Freeway in Burleson. Representing the landlord, EBD BEMC Burleson LLC, was Kelley Ahrens with CBRE-Dallas.
Leadership Worth Following LLC has renewed its lease for 5,094 square feet at 5605 N. MacArthur Blvd. in Irving. The tenant was represented by Clay Vaughn with CBRE-Dallas, and Sooner Management represented the landlord, JP-MacArthur LP.
Lend Lease (US) Public Partnerships has renewed its lease for 2,895 square feet at 909 Lake Carolyn in Irving. Representing the tenant in the transaction was Neal Puckett with CBRE-Dallas. Transwestern represented the landlord, KBSIII Tower at Lake Carolyn LLC.
Bluesource Inc. and Galen Medical LLC have leased 2,995 square feet and 2,987 square feet, respectively, at 1900 Enchanted Way in Grapevine from Cci-1900 Enchanted Way LP. Representing the landlord in the direct deals were Sharon Friedberg and Melanie Hughes, senior vice presidents of Bradford Commercial Real Estate Services.