Regent Properties has acquired the Trammell Crow Heart, a 50-story, 1.2 million-square-foot workplace tower situated at 2001 Ross Ave. in Downtown Dallas. The phrases of the deal weren’t disclosed, however the Dallas Morning Information studies that the skyscraper could have fetched a hefty price ticket of upwards of $600 million.
Regent bought the skyscraper from a gaggle of institutional traders suggested by J.P. Morgan International Alternate options. The sale features a retail constructing and parking storage throughout the road, in line with the discharge.
“We’re delighted to finish this transaction and are proud to personal a long-standing fixture of the Dallas skyline,” mentioned Eric Fleiss, CEO of Regent Properties. “Final yr we set an goal to take a position greater than $2 billion in high-quality workplace actual property throughout Texas and the Sunbelt areas. The acquisition of this iconic asset, throughout a interval of market dislocation, displays our view that sustained demand for these best-in-class workplace towers will proceed.”
Workplace
Meadow Park Tower, a 16-story high-rise at North Central Expressway and Meadow Highway, was acquired by Dallas-based Bradford Cos. Inbuilt 1987, the greater than 260,000-square-foot workplace constructing sale was brokered by Colliers Worldwide.
Industrial
McCormack Businessa Houston-based industrial actual property agency, has damaged floor on a brand new industrial park in North Fort Price. When absolutely developed, Meacham Commerce Heart will complete 1,311,911 sq. ft over 4 buildings located on roughly 80 acres. The property will probably be leased by Matt Carthey and George Jennings of Holt Lunsford.
Retail
H-E-B Companions joined the mayor of McKinney George Fuller and different native officers to interrupt floor on the brand new 118,000-square-foot H-E-B retailer, which is situated on the northeast nook of Custer Highway and Eldorado Parkway. The brand new retailer is slated to open in late 2023. It is going to be the corporate’s third retailer presently below building in DFW.
Disney Funding Group (DIG) has brokered the sale of Lake Forest Market in McKinney. Lake Forest Market is a 37,500 sq. foot purchasing heart situated on the southwest nook of Hwy. 380 and Lake Forest Drive Lake Forest Market is 100% leased with 14 current tenants together with Pet Provides Plus, Mod Pizza, Athletico, Floyds 99 Barbershop, Jersey Mike’s Subs, UPS Retailer, Aqua Tots, Anamia’s Tex Mex, amongst others. David Disney and Adam Crockett of DIG completely represented the vendor and procured the personal purchaser.
EFG Firms has expanded to 38,134 sq. ft in Las Colinas at 122 W. John Carpenter Fwy. and can occupy the constructing’s whole high sixth ground. Garrison Efird and Jim Cooksey with Newmark represented the tenant.
Popshelf has leased 12,048 sq. ft of retail area in Nice Run Towne Crossing in Cedar Hill. David Levinson and Thad Beckner of The Retail Connection represented the owner, Kite Realty. The tenant was suggested by Gretchen Miller and Scott Smith of Weitzman.
The Hertz Corp. has leased 2,300 sq. ft of retail area at Luna Crossing in Plano. David Levinson and Paul Cooke III of The Retail Connection represented the owner, Crow Holdings, and the tenant within the transaction.
Combined-Use
California-based builder Legacy Companions have secured funding for a brand new retail and residence venture in Lewisville. The 296-unit Advantage mixed-use venture is being constructed on Interstate 35E, and is scheduled to open in mid-2023. The rental group will embrace residences starting from 630 to 1,500 sq. ft. Dallas-based JHP Structure is the designer for Advantage. The venture is being constructed by Provident Basic Contractors.
Land
Lee & Associates Dallas Fort Price introduced the sale of 33 acres of land in an off-market transaction for Hopewell Growth. The 33-acre parcel is situated at 2451 S Beltline Highway in Irving, with the benefit of location and entry to the DFW transportation system together with Freeway 30, Interstate 161, 183, and extra. Lee & Associates’ Alex Wilson, Nathan Denton, and Reid Bassinger represented the Calgary-based growth firm of their second land acquisition within the DFW metroplex. The Lee & Associates crew represented Hopewell in early 2021 on their buy of 21 acres within the Alliance submarket for a venture presently below building, Champion’s Circle.
