HOUSTON — Brenda Pennington and Jaclynn Zimowski of B. Pennington Commercial Real Estate have represented Art and Wine Glass in leasing 3,500 square feet at 7620 Katy Freeway in Houston. Nina Kuhn internally represented the landlord, Levcor Inc., in the transaction. This will be Art Class and Wine Glass’s second location.
GRAND PRAIRIE, TEXAS — IKEA has officially broken ground on its second Dallas-area store, slated to open fall 2017 in Grand Prairie. The new location will be IKEA’s fourth in the state of Texas, complementing locations in Houston and Round Rock. The 290,000-square-foot IKEA Grand Prairie will include 1,100 parking spaces on 30 acres along the eastern side of State Highway 161 and Mayfield Road. An additional 15 acres next to the store could be developed for ancillary commercial or retail uses. IKEA has selected Mycon General Contractors to build the store, which will be home to 300 employees when complete.
DALLAS— The Weitzman Group has negotiated the sale of an 11,198-square-foot office building located at 2520 Fairmount St. in Dallas. The building is located near Whole Foods Market and Gold’s Gym in the Uptown district. Matthew Rosenfeld of The Weitzman Group handled negotiations for the seller, a Houston-based limited liability company. Daniel Miller and Alexis Martinez of Rubicon Representation represented the buyer, Henley & Henley P.C., a law firm that will locate its office within the property. The two-story office building recently underwent a renovation. Current tenants at 2520 Fairmount include the practice of Mint Dentistry and T-Off Your Men’s Health.
IRVING, TEXAS — A10 Capital LLC has signed a seven-year lease for half of the penthouse floor in Canal Centre, a Class A office property on the bank of Lake Carolyn in the Las Colinas Urban Center. The commercial real estate lender is more than doubling in size, leasing 8,160 square feet on the 10th floor of 400 E. Las Colinas Blvd. in Irving. A10 will relocate in early January to space previously occupied by ESPN in the 240,000-square-foot office building. The lease includes a right of first refusal on 4,003 square feet of vacant space on the penthouse level, monument signage and an amenity package with free access to an upgraded fitness center and conference room. Boise, Idaho-based A10 Capital, a commercial real estate lender to the U.S. middle market, first opened its Texas office four years ago, leasing 3,496 square feet at nearby Crestview Tower. The new office is being designed for 25 professionals in management, loan origination and credit and asset management. Canal Centre and its attached six-story parking garage were built in 1983 on a three-acre tract. Amenities include on-site property management, a Wi-Fi café and 24-hour security. Marc Grossfeld and Tabitha Layne of Sunwest Real …
DALLAS — Gardere Wynne Sewell LLP, a Dallas-based law firm, has moved to the McKinney & Olive office building located in Uptown Dallas. The firm is the building’s largest tenant, occupying 115,000 square feet across four floors. The office houses Gardere’s 287 Dallas-based attorneys and legal professionals. Gensler handled the interior design, with work areas featuring a combination of pods, counter-height tables and dedicated and flex space, as well as individual offices with glass walls. Conference rooms can be adjusted for larger or smaller meetings with demountable walls. Archives are now stored electronically, allowing the firm to allocate more space for multi-purpose meeting rooms instead. The firm’s legal library is also now stored digitally.
PLANO, TEXAS — JLL has secured an office lease extension on behalf of NCR Corp. for the company’s 50,341-square-foot office at Tennyson Office Center – Building I. The property is located at 6100 Tennyson Parkway in Plano. JLL’s Steve Thelen and Doug Carignan negotiated the lease extension on behalf of the tenant, a computer hardware, software and electronics company. Marc Grossfeld of Sunwest Real Estate Group represented the landlord, Tennyson Office Center LLC.
FORT WORTH, TEXAS — Stan Johnson Co., a net lease brokerage firm, has completed the $19.2 million sale of the Midtown Medical Office Building, a 57,404-square-foot, multi-tenant medical office building located at 900 Jerome St. in Fort Worth. Toby Scrivner, Jeff Matulis, Grant Wilkins and Colin Cornell of Stan Johnson’s Healthcare Net Lease Group represented the seller, Ridgeline Capital Partners. Stan Johnson Co. also represented the buyer in the transaction. The property is adjacent to the Plaza Medical Center of Fort Worth, a 216-bed short-term acute care facility, and is part of a mixed-use development with both a hotel and restaurants located on site.
DALLAS — Younger Partners has arranged a pair of office leases totaling 27,979 square feet at Park Central 3 and Park Central 4 in Dallas. The deals included a renewal expansion and a new tenant. Younger Partners’ Heather Shover, Kathy Permenter and Sean Dalton represented the landlord, Pittsburgh-based McKnight Realty Partners, in the deals. In the first transaction, Holmes Murphy & Associates expanded its lease by 20,504 square feet to a total of 72,477 square feet at Park Central 4, located at 12712 Park Central Dr. in Dallas. Sarah Hinkley and T.D. Briggs of Peloton Commercial Real Estate represented the tenant. In the second transaction, Supply Sanitation Systems LLC signed a new 7,475-square-foot lease at Park Central 3, located 12700 Park Central Drive Transwestern’s Nora Hogan and Jordan Wade represented the tenant.
CONROE, TEXAS — Pillar has secured a $15.6 million refinancing loan for Heritage at Hooper Hill. The 200-unit multifamily property was built in 2005 and is located in Conroe, just north of The Woodlands in the northern Houston submarket. Cullen O’Grady of Pillar’s Bethesda, Md. office secured the loan on behalf of the borrower, a Washington, D.C.-based commercial real estate property owner and developer. The 12-year, fixed-rate Fannie Mae loan includes a 30-year amortization schedule with four years of interest-only payments.
ALLEN, TEXAS — WatchGuard Video, a manufacturer of law enforcement video systems, will be building its new corporate headquarters in Allen, accommodating up to 700 employees. The build-to-suit project will be completed in two phases for a total of 200,000 square feet of office space and a corporate investment of $46 million. WatchGuard’s new corporate headquarters will be located on 12 acres at the intersection of Exchange and Andrews parkways near Cabela’s and Topgolf, just east of Central Expressway. The first phase of the two-story, 140,000-square-foot office facility is expected to cost $36 million and will open at the end of 2017. The company’s second phase, set for a 2022 completion, will add another 60,000 square feet of space and is expected to require an additional $10 million investment. The company expects to move between 280 and 300 employees into the new office, with a total capacity of around 500 employees before further expansion is necessary. The facility will include open group areas for collaborating, training rooms, an outdoor recreation space, indoor racquetball court, gym, health clinic and a “customer experience room” that allows demonstrations of the company’s products.