Fallas Takes 22,300 Square Feet at Whiterock Marketplace

GARLAND, TX -- Fallas Discount Store has leased 22,300 square feet at Whiterock Marketplace. The store, a subsidiary of National Stores Inc., is tentatively scheduled to open at the center at Garland and Jupiter roads in time for the holiday season. Henry S. Miller Brokerage’s Shawn Ackerman of the Greater Houston commercial retail division negotiated the lease terms on behalf of the tenant.

Whiterock features the ideal tenant mix for Fallas; it is shadow anchored by leading retailers such as The Home Depot, Ross, Marshalls, GNC and others. Fallas’ new space is currently undergoing construction.

ACQUISITIONS/DISPOSITIONS

RICHARDSON, TX -- LBA Realty LLC sold the 122,300-square-foot AT&T Services Building at 1410 Renner Rd. to Franklin Street Properties Corp. The single-tenant facility is triple-net leased to AT&T through July 2018 and includes annual rent escalations. There are also two subtenants: Stewart Title of North Texas Inc. and the Dallas Morning News. CBRE’s Gary Carr, Eric Mackey and Russell Ingrum represented LBA Realty in the transaction.

LEASES

ARLINGTON, TX -- Open Arms Health Clinic Inc., a charitable health ministry, signed a 2,500 square foot lease at Green Oaks Professional medical office building in Arlington. The 20,744 square foot Class A building is located in the southwest side of Arlington at the intersection of I-20 and Green Oaks Blvd. Beaux Riley with SCM Real Estate Services, represented the landlord in this transaction. Brenda Oborski with English Realty represented the tenant.

CHANDLER, AZ -- General Services Administration (GSA) of the United States government leased 38,565 square feet square at Chandler Midway Corporate Center, a mixed-use office and office condominium development located on the northeast corner of Gila Springs and Chandler boulevards. Pete Wentis, Kevin Cosca, Steve Gerhard and Warren Johnston of CBRE’s Phoenix office represented the landlord, Chandler Midway III LP of San Diego, CA in negotiating the 10-year lease agreement.  The tenant was represented by Dev Gupta of UGL Services in Phoenix.

DALLAS -- RGT Partners renewed its 13,019-square-foot lease and will expand by an additional 4,855 square feet to bring its total lease at 5950 Sherry Lane in Dallas to 17,874 square feet. Kelley Kackley and Steve Thelen with Jones Lang LaSalle represented the tenant. Dennis Barnes and Michael Dudley with CBRE represented the landlord, RREEF Alternative Investments.

FORT WORTH -- Village Farms leased 59,928 square feet of industrial cold storage space at Northern Crossing West, located at 2901 Northern Cross Blvd. Jones Lang LaSalle’s Steve Thelen and Dave Richards represented the tenant. Amy Baker and Jerry Alexander with Transwestern represented the owner, TIG.

FRISCO, TX – Ignite Technologies renewed its 18,041-square-foot lease at Hall Office Park, 3211 Internet Blvd. Jones Lang LaSalle’s Steve Thelen and Bo Bond represented the tenant. Hall Financial Group’s Kim Butler and Tammy Nellis represented the owner, Hall Financial Group.

GILBERT, AZ -- Acquinity Interactive leased 22,186 square feet at 1030 N. Colorado St. Jim Trobaugh, Chris Hook and Rob Marsh of CBRE’s Labor Analytics Group, based in Phoenix, represented the tenant in negotiating the four-year lease agreement. Mike McQuaid and Mike Garlick of Lee & Associates Commercial Real Estate Services, also in Phoenix, represented the landlord, DT Credit Company LLC of Phoenix. 

IRVING, TX -- MetLife Auto & Home leased 15,900 square feet of office space at 3660 Regent Blvd. Steve Thelen and Alan Wood with Jones Lang LaSalle represented the tenant. Cassidy Turley’s Rodney Helm and Clint Madison represented the owner, Persis DFW LP.

WINDCREST, TX – Skechers USA leased 10,000 square feet for a new outlet store at Windsor Park Centre near San Antonio.  The outlet store will open in spring 2012.  Dan Nixon and Richard Vaughan represented landlord Whitestone REIT while Leslie Mayer of Cushman and Wakefield, Los Angeles, and Gene Williams of The Weitzman Group, San Antonio, represented SKECHERS USA.

CAPITAL MARKETS

COPPELL, TX --- UCD Development and Rainier Capital Management have obtained $13.6 million in financing for Coppell Market, a 90,225-square-foot grocery-anchored shopping center. The permanent debt financing, which was provided by Goldman Sachs Commercial Mortgage Capital, carried a 10-year term with 30 years of amortization at an interest rate of 5.62%. The asset was 97% occupied at the time of the closing. Scott Lewis with CBRE’s Debt & Equity Finance group represented the borrower.

OKLAHOMA CITY -- First Financial Network Inc. (FFN) has started due diligence for the sale of $47 million in loans on behalf of the Federal Deposit Insurance Corporation (FDIC). The portfolios consist of loan participations, commercial real estate and agricultural loans held by the failed Bank of Whitman in Colfax, WA, for which the FDIC is acting as receiver.

The Bank of Whitman loans are being offered in two separate portfolios based on asset class in order to maximize participation. The first portfolio consists of four performing bank loan participations secured by medical office, industrial and hospitality properties with the largest loan having an unpaid principal balance of over $9 million. The performing loan participations will be sold on an individual relationship basis and are available to FDIC-insured institutions only. 

The second portfolio consists of 12 performing and non-performing loans secured by collateral located primarily in Washington State. The largest loan, which has an unpaid principal balance of more than $10 million, is secured by senior housing. The remainder of the loans in this offering are collateralized by various commercial real estate and agricultural land assets. This offering is open to all investors that meet FDIC’s participation requirements.

EXECUTIVE MOVES

DALLAS -- Colliers International has hired David Pinsel as the managing director for the North Texas region. Pinsel joins the Dallas office from Colliers Inland Empire and Greater Los Angeles Investment Services division, where he has served as Managing Director since 2009. Pinsel will oversee all aspects of Colliers operations in the North Texas market including brokerage, asset and property management and day-to-day operations. Prior to joining Colliers, Pinsel facilitated the opening of the Long Beach and Costa Rica offices for Sperry Van Ness. He began his career at Marcus & Millichap in Long Beach, CA. Pinsel earned his Bachelor of Science from the University of California, Los Angeles.

DALLAS – Brandon Harris has been named executive vice president with UCR Urban, a division of UCR. Harris will join UCR Urban’s retail real estate services platform and will be instrumental in serving both the company’s institutional shopping center owner clients and 200+ national, regional and local retail clients.