GRAND PRAIRIE, TX--Stockton Telecommunications Co. Inc. has signed a long-term lease for 11,275 square feet of space at Westfork Center in the Upper Great Southwest Industrial Park. The Albuquerque-based Stockton Telecommunications' deal pushed occupancy of the 126,307-square-foot Westfork Center's to 96%.
According to a press release that discussed the transaction, Jim Ferris with Bradford Commercial Real Estate Services said another deal for the remaining 5,033 square feet in the three-building industrial park at 1475 Avenue S will be concluded by year-end. "A lot of it is DCT Industrial having a competitive mindset," said Ferris, who with Bradford Commercial colleague Michael W. Spain, has been representing landlord DCT Industrial in getting the asset leased up.
With the Stockton deal closed, plans are for the tenant to take possession of the space by Nov. 1. Ryan Boozer of the Mercer Co. in Dallas represented the tenant, which is currently located at 3251 W. Story Rd. in Irving, TX. The 13-tenant Westfork Center was developed in the late 1980s, a trio of rear-load, shallow-bay designs geared toward tenants requiring 4,800 sf to 15,000 sf. Denver-based DCT Industrial acquired the asset in 2004.
LEASES
FRISCO, TX -- Six tenants have new leases totaling nearly 15,000 square feet at the Hall Office Park development. The Hall Office Park leasing team of Kim Butler, Tammy Lomonaco and Brad Gibson handled negotiations on behalf of the owner and landlord, Hall Financial Group, in the following lease negotiations.
National Envelope, one of the largest envelope manufacturers in the world, expanded its lease by 3,573 square feet at 3211 Internet Blvd. This addition brings the company’s presence to 20,107 square feet at Hall Office Park.
Viamedia Inc., the leading independent provider of DMA-based cable TV advertising sales and commercial delivery in the United States, expanded its lease to 3,935 square feet at 2600 Network Blvd.
Bismarck Real Estate Partners Inc., a commercial real estate company within Guggenheim Partners Co., renewed its lease for 3,452 square feet at 2600 Network Blvd.
Tensar International Corp. Inc., a full-service provider of specialty products and engineering services, signed a new lease for 1,593 square feet at 3010 Gaylord Pkwy. Rosanne Meier of Colliers International handled negotiations on behalf of the tenant.
Norandex Building Materials Distribution, one of the largest distributors of exterior siding, roofing, windows and doors in the United States, renewed its lease for 1,326 square feet at 2601 Network Blvd. Meg Rabal of Jones Lang LaSalle represented the tenant in lease negotiations.
Integrated Scientific Systems, a company specializing in security software development and integration, renewed its lease for 925 square feet at 3010 Gaylord Pkwy.
GARLAND, TX -- Yusen Logistics (Americas) Inc. signed a new 4,974 square foot lease at Chase Bank office building, 3200 Broadway Blvd. Beaux Riley with SCM Real Estate Services represented the landlord in this transaction. Rob Morris with Cushman & Wakefield represented the tenant.
GRAND PRAIRIE, TX –S&S Wealth Management renewed its lease for 1,150 square feet at the Brookhollow Riverside building, located at 2505 N. Hwy 360. Theron Bryant with SCM Real Estate Services led negotiations on behalf of the ownership.
HOUSTON -- Greater Houston Convention and Visitors Bureau (CVB) signed a new lease for 29,000 square feet at 4 Houston Center in Houston’s Central Business District. The CVB is expected to relocate to their new offices by December, 2011. Debbie Wilson with Crescent Property Services Inc. represented the owner Crescent Real Estate Holdings LLC, while Dan Boyles at NAI Houston, represented the Convention and Visitors Bureau.
LEWISVILLE, TX -- Caliber Collision Center leased 16,397 square feet at 401 E. Corporate Dr. for its new corporate headquarters. Caliber is currently in California, and the relocation will take place in mid-November. Andrew Taguwa with Jones Lang LaSalle represented Caliber. Buddy Tompkins of CASE Commercial Real Estate Partners represented the landlord, GL Corporate Pointe LP. The company headquarters will house approximately 60 employees, with plans to add additional positions in the future.
PHOENIX -- Ware Manufacturing has taken down 90,000 square feet at a 127,042-square-foot building located at 1439 S. 40th Ave. The eight-year lease deal brings occupancy of the building to 100%. The lease will commence Dec. 1. Bo Mills with Cushman & Wakefield represented the landlord, DEXUS Property Group. Ware Manufacturing was represented by Ted Liles and Lance Ross of Ross Property Advisors.
THE WOODLANDS, TX –Frost Cupcakes & More has leased 1,254 square feet at 25 Waterway Avenue for construction of a gourmet cupcake bakery. Frost Bake Shoppe already has one location in The Woodlands in the Indian Springs Shopping Center. Frost Bake Shoppe was represented by D. J. Forsyth of Bandier Realty Partners LLC. Rip Reynolds with CBRE represented the owner, The Woodlands Development Co.
ACQUISITIONS/DISPOSITIONS
CARROLLTON, TX -- CONTI Organization acquired the 256-unit, class B Parkside Village for $11 million. The complex at 3022 N. Josey Lane will undergo a complete rebranding including $2 million in capital upgrades. Parkside Village was 89% occupied at takeover.
FLOWER MOUND, TX -- Arvest Bank, headquartered in Lowell, AR, has sold a 6,900 square foot office building located at 5870 Long Prairie Rd. Jeff Brand and Ashley Bentler of Brand Capital Partners represented the seller in the transaction. Scott Hobbs with CBRE represented the buyer, Protype IT, which will renovate the asset and use it for its corporate headquarters.
GRAPEVINE, TX -- Deploying proceeds from a 1031 exchange, SkyWalker Property Partners has acquired a two-building office complex, totaling 58,860 square feet from special servicer CWCapital LLC. Gary Walker with the Arlington, TX-based buyer had placed an offer on Grapevine I and II, located at 3500 and 3600 William D. Tate Ave., respectively, when it came to market earlier this year, but landed in the runner-up's position. "When the deal fell out, we jumped on it quickly. It was a 30-day look and 15-day close," Walker said in a press release detailing the transaction. Renee Efimoff with SCM Real Estate Services, an affiliate of SkyWalker Property Partners, negotiated the acquisition, targeted as a three- to five-year hold. Barney McAuley with Tricom Real Estate Group LLC in Dallas represented the seller.
PHOENIX- El Dorado Holdings Inc. bought the 180-unit Paradise Foothills from a company formed by the Registered Holders of Wachovia Bank Commercial Mortgage Trust Commercial Mortgage Pass-Through Certificates Series 2007-C30. The asset at 12231 N. 19th Ave. sold for $10.5 million. This acquisition adds to an existing El Dorado Holdings portfolio consisting of 356 apartment units in two Valley communities. Brad Goff and David Lord of Apartment Realty Advisors represented the seller. Special servicer in the transaction was CWCapital Asset Management of Bethesda, MD.
THE WOODLANDS, TX -- Bayway Cos. has purchased a five-acre site in The Woodlands Trade Center for construction of Volkswagen of The Woodlands, a 25,000-square-foot Volkswagen dealership. Situated on the east side of Interstate 45 on the northbound feeder road, the site features safe and easy ingress and egress for customers. The dealership will offer both new and certified pre-owned cars, according to Darryl Wischnewsky, principal for Bayway. Wischnewsky owns four other dealerships in the Houston area. The dealership is expected to be open by mid-2012. The Woodlands Development Co. was represented by Todd N. Edmonds and Cody R. Christoph of Colliers International.
EXECUTIVE MOVES
PHOENIX -- Transwestern has hired Colin Brown to the position of director, real estate services. In his position, Brown will primarily focus on the procurement and strategic disposition of institutional-quality property. Additionally, he will provide leasing services to support clients in the repositioning and stabilization of distressed or non-performing assets. Brown’s unconventional role maximizes his breadth of experience, which includes a background in development. Prior to joining Transwestern, Brown served on the development team at Ryan Companies, where he was a producing member of a team that procured the development, lease-up, and disposition of over $90 million in commercial real estate assets yielding approximately $15 million in net profit. Additionally, Brown provided management support for a portfolio of over 600,000 square feet including the One North Central Tower, Desert Ridge Medical Campus and the Towers at Bressi Ranch in California.
MISCELLANEOUS
AUSTIN, TX -- SpareFoot is releasing a suite of new web marketing tools for the $22 billion self-storage industry. These products help facility operators nationwide reach and connect with consumers searching for local storage online. The new SiteBuilder tool provides a facility with its own customizable, easy-to-update website that converts visitors into tenants. The product works to simplify everything about creating and maintaining a website. For facilities who already have a site, GeoPages works as the ideal supplement to dominate in local search. In this solution, SpareFoot optimizes a facility’s listing on directories like Google Places, then points visitors to a landing page that drives unlimited online reservations. SiteBuilder and GeoPages join the company’s flagship AdNetwork product, which grants facilities highly visible, searchable listings on SpareFoot.com, SelfStorage.com and over 50 other high-traffic partner sites that serve storage and moving needs.
PLANO, TX-Camelot Facility Solutions has signed a facility maintenance agreement with Apple Orthodontix for the maintenance of Apple's orthodontic clinics located throughout Dallas and Fort Worth. Under the agreement, Camelot will provide single-source, facility maintenance including general building maintenance, heating, air-conditioning, electrical and plumbing services to Apple's group of sixteen orthodontic clinics located throughout the Dallas, Fort Worth and north Texas.
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