DALLAS — Locally based brokerage firm Bradford Commercial Real Estate Services has negotiated the sale of a 25,608-square-foot industrial building within the 134,542-square-foot Forest Green Business Park in northeast Dallas. An undisclosed HVAC company was in the process of vacating the single-story building, which was built in 1976, at the time of sale. Brian Pafford and Kyle Espie of Bradford Commercial represented the California-based seller in the transaction.
DALLAS — Marketing and communications firm Moroch Partners has signed a 24,000-square-foot office lease at 147 Manufacturing Drive in the Dallas Design District. The firm is relocating from Hall Street at The Centrum and plans to move its employees into its new headquarters space in 2024. Paul Wittorf, Kim Brooks, Laney Delin and Collin Burwinkel of Transwestern represented the landlord, Dallas-based Quadrant Investment Properties, in the lease negotiations. Jihane Boury and Clay Vaughn of Savills represented the tenant.
RICHMOND, TEXAS — Swig, a Utah-based drink concept with 54 locations across four states, will open a 19,161-square-foot beverage fountain in the southwestern Houston suburb of Richmond. The space will be situated on a pad site that is under construction at Grand at Aliana, a development by Houston-based NewQuest Properties. Jeff Hayes and Travis Waltmon of Paul Duro Commercial Partners represented Swig, which is targeting a January opening, in the lease negotiations.
By Taylor Williams Brick-and-mortar retail has quietly, yet emphatically resurrected itself from the e-commerce- and COVID-induced death knell, bolstered by multiple years of low supply growth that have put a premium on quality space and allowed landlords to zero in on what truly constitutes a winning concept. This notion is inherently subjective and difficult to quantify. But in Dallas-Fort Worth, retail owners and operators say that authenticity — as defined by uniqueness of the offerings and adherence to and reflection of local culture — is paramount to success. From the presentation and packaging of products and services to utilization of local architectural styles to creating a certain shopping or dining ambiance, the ability to capture the authenticity of the market is crucial. Consumers and landlords can afford to be choosy, and they won’t waste time at stores, restaurants or entertainment venues that feel cookie-cutter, phony or out-of-place. But retail landlords can ill-afford to do deals with tenants that simply look the part but lack the financial ability to pay rents, which are growing in urban locations where availability of space remains tight. Monetary due diligence remains critical, but as often as not, there is considerable overlap between the financial solvency …
HOUSTON — Power Electronics USA, a provider of renewable energy solutions, has signed a 166,250-square-foot industrial lease at Airtex Commerce Center in Houston. According to LoopNet Inc., the rear-load building at 431 E. Airtex Drive was built in 2015 and features 32-foot clear heights. Ben Condara, John Nicholson and Robyn Hurrell of Colliers represented the tenant in the lease negotiations. Brian Gammill, Darryl Noon and Craig Bean of Transwestern represented the landlord.
MIDLAND, TEXAS — Extract Production, an equipment manufacturer for the oil and gas industry, has sold a 50,000-square-foot industrial flex property in the West Texas city of Midland for $10 million. The property was built in phases on 14 acres between 2018 and 2022. Kyle Fant, Britt Raymond, Matthew Mousavi and Patrick Luther of SRS Real Estate Partners represented Extract Production, which also occupies the building and will lease the space back for the next 15 years, in the all-cash transaction. The team also procured the buyer, an undisclosed, publicly traded REIT.
HOUSTON — Locally based investment firm Wu Property Management has purchased Cypresswood Court Shopping Center, a 103,047-square-foot retail property located in the northern Houston suburb of Spring. Target, Best Buy and dd’s DISCOUNTS are the anchor tenants at the center, which was built on 11.3 acres in 1985, according to LoopNet Inc. Wu Property Management has appointed Sturbridge Commercial as the leasing agent.
PEARLAND, TEXAS — Locally based brokerage firm Fritsche Anderson Realty Partners has arranged the sale of a 68,000-square-foot industrial park in the southern Houston suburb of Pearland. The property comprises five buildings on a 7.6-acre site. Brandon Wuntch and Drew Altmann of Fritsche Anderson represented the seller, an entity doing business as Halik 35 LLC, in the transaction and procured the buyer, Houston-based Baywater Capital.
HOUSTON — Partners Real Estate has negotiated the sale of an eight-unit apartment building located at 4218 J St. in West Houston. According to LoopNet Inc., the property was built in 1963 and renovated in 2022. Ryan DeGennaro represented the seller, Mell Investment Group, in the transaction. Elaine Lan Nguyen of HomeSmart represented the buyer.
PLANO, TEXAS — Ryan Cos. has topped out a 23-story, 409,000-square-foot office building within the Legacy West mixed-use development in Plano. Global tax firm Ryan LLC plans to occupy about half of the building as its new headquarters, and JLL is marketing the remaining space for lease. ACORE Capital provided construction financing for the project, which Ryan Cos. is developing in a joint venture with the real estate investment arm of Kansas-based conglomerate Koch Industries. Amenities will include a fitness center, multiple conference rooms, tenant lounge, pickleball courts and a café. Gensler is the project architect. Construction began last summer and is slated for a late 2024 completion.