This Week’s Dallas-Fort Worth Deal Sheet

Uptowns McKinney amp; Olive luxury workplace tower just struck 78% leased and its still got five months before opening.

McKinney amp; Olive is a distinctive, mixed-use project providing world-class architecture by Pelli Clark Pelli Architects, plus leading Class-An office areaA workplace in the Uptown Dallas area. The 530k SF structure will be the first commercial building in Dallas to be created by a worldwide acclaimed architect since the 1980s.

The brand-new leases signed include Stackpath (27k SF), Trive Capital (13k SF), Prologis (12k SF), MHT Midspan (12k SF), Tailwater Capital (10k SF), Haworth (10k SF), Luther King Capital Management (9k SF), Sales Standard Index (6k SF) and Park Location Dealerships (4k SF).

EXECS

Michael Thimmig joined Alston amp; Bird as a partner in the finance group. Hell focus on structured financing, home loan banking and safe loaning deals. Michael, who comes from Perkins Coie, is the sixth finance partner to join the company given that 2015.

SALES

Greysteel offered Walker Place, a 67-unit multifamily community in Dallas. The sale was led by Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill.

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Olympus Home acquired AMLI 7th Street Station, a 189-unit multifamily neighborhood in Fort Worth. IPAs Will Balthrope, Drew Kile and Rowan Burch repped the seller. The terms of the sale were not launched.

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A concealed (however brand-new to Dallas) buyer acquired Mill Valley, a 312-unit apartment or condo project in Fort Worth. Transwesterns Taylor Snoddy and Phillip Wiegand repped the seller.

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A private financier bought Spring Park Centre, a 27k SF retail property in Garland. The sale was repped by Marcus amp; Millichaps Bill Jordan.

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A personal financier bought a three-property portfolio of Dunkin Donuts areas in Dallas. JLLs Jace Hinderland led the sales group.

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United Commercial Developments Robert Dorazil purchased a 21-acre building on the southwest corner of Bailey Boswell Roadway and FM-156 in Saginaw. DB2REs Edward Bogel and David Davidson brokered. UCD will develop a retail job and is dealing with DB2RE on the retail pad websites as well as offering the multifamily land on the south side of the building.

LEASES

Bradford Commercial Property renewed 3 leases:

  • Valley Truck Parts amp; HME renewed 12k SF of storage facility area in Grand Prairie. Michael Spain and Jim Ferris repped the proprietor, OMO Financial investment Co Trust.
  • Turning point Electric rented 11k SF of flex commercial in Grand Prairie. Michael Spain and Will Dillard repped the property manager, and David Rouble repped the tenant.
  • Arguindegui Oil Co leased 13k SF of storage facility space in Waxahachie. Brock Wilson and Joe Santaularia repped the offer.

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Mercer Co repped Jeremy Mercer in the renewal of 2 leases: Occupant Baik Brands restored 10601 King William Dr, 30k SF, and Marex Composites renewed 4900 Calvert St, 58k SF.

DEVELOPMENTS

Marcus Pasley, executive chef and owner of Clay Pigeon, will open Piattello Italian Kitchen, a 5k SF dining establishment in Fort Worths new Waterside Development.

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Perry Steakhouse and Grille is in development to open in 2017 in Grapevine. The 10k SF dining establishment will consist of a substantial bar and a large patio area.

FUNDING

Metropolitan Capital Advisors set up a $2.5 M construction loan for a 24k SF retail center within the Roanoke Crossing Power Center, which is anchored by Walmart and House Depot.

THIS AND THAT

Stage 1 of Hall Groups HALL Arts development, comprisedconsisted of KPMG Plaza at Hall Arts, attained LEED-CS Gold. This consists of the 500k SF office tower and associateding with dining establishment area.