Middle Market Digest: This Week in the South and Mountain Regions

NEWS AND NOTABLES

DALLAS—Lincoln Property Company recently announced the hiring of Mark Dickenson as executive vice president. Dickenson will be responsible for expanding Lincoln's office platform in Dallas, as well as leading the existing leasing and management services. Prior to joining Lincoln, he led investor services for Cushman & Wakefield's and Cousin Properties' Dallas office portfolios. During his career, Dickenson led leasing for many Dallas iconic assets including the Galleria Office Towers, The Towers at Williams Square, Lincoln Centre, Victory Park and Cityplace Tower.

DALLAS—Westmount Realty Capital LLC has named Andrew Martin as director–private capital. In this role, Martin will join the firm as a trusted operating partner for Westmount's private capital investors.

HOUSTON—CBRE announced that Rob Neblett has joined its advisory and transaction services, occupier team. Neblett will join CBRE as a senior vice president specializing in office tenant representation within the Houston market.

DEAL TRACKER

ADDISON, TX—Hilton Domestic Operating Company Inc. expanded by 24,356 square feet at 15301 N. Dallas Pkwy. J.J. Leonard and Ryan Evanich with Stream Realty Partners represented the landlord, Fortis Property Group. Paul Whitman with Jones Lang LaSalle represented the tenant.

ANDREWS, TX—Aaron's, a 12,000-square-foot, net-leased property located at 111 Northeast Avenue K, has sold. Bruce Bentley III, Douglas Diffie and Dan Perrine, investment specialists in Marcus & Millichap's Austin office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was also secured by Bentley, Diffie and Perrine. Built in 1984, Aaron's is centrally located along the city's primary corridor. Aaron's has demonstrated a long-term commitment to this site by retrofitting the building and later executing a 15-year lease back in 2010.

CARROLLTON, TX—Plano-based Greenbrick Partners purchased 14-plus acres at the southeast quadrant of Plano Parkway and Parker Road with plans to develop 86 single-family lots. Younger Partners' Tom Grunnah, Michael Ytem, Kevin Harrell and Jeremy Lillard represented the buyer. The seller, Mustang Carrollton Prop Ltd (Folsom) was represented by Sabre Realty's John West. The currently vacant land will be among more than 100 acres extending from Parker Road on the north, Plano Parkway on the west and the south, and the BNSF tracks to the east, that is currently being developed for single-family and townhome residences by various builders, Grunnah says. Construction should start in July.

CARROLLTON, TX—Accu-Tech Corporation renewed its 26,170-square-foot lease at 1500 Luna Rd.  Blake Kendrick and Mackenzie Ford with Stream Realty Partners represented the landlord, GLP. Cresa Partners represented the tenant.

DALLAS—Stream Realty Partners represented Calhoun, Bhella & Sechrest in its lease renewal and office expansion at Republic Center, a 703,981 square-foot, class-A office building at 325 N. Saint Paul St. With this expansion, the growing firm will double its current office to 5,975 square feet and retain its 23rd floor downtown site that provides convenient access to DART Light Rail, nearby amenities and parking. Stream's senior vice president, Todd Noonan represented Calhoun, Bhella & Sechrest in the transaction. Kathy Permenter, Sarah Savage and Trae Anderson with Younger Partners represented the landlord, Four Point Star LP.

DALLAS—MCI Communications Services Inc. renewed its lease of 47,625 square feet at One Main Place, 1201 Main St. Sara Terry and Matt Wieser with Stream Realty Partners represented the landlord, KFK Group. CBRE Inc. represented the tenant.

DALLAS—MedNetwoRx renewed 8,409 square feet at 3 Park Central. The landlord, McKnight Realty Partners, was represented by Kathy Permenter and Sean Dalton at Younger Partners. The tenant was represented by Harlan Davis and John Ellerman at CBRE.

DRIPPING SPRINGS, TX—JLL Capital Markets completed the sale and leaseback of a post-acute care rehabilitation facility at 3035 West Highway 290 in this Austin suburb. Scottsdale, AZ-based STORE Capital purchased the property. The seller, Mentis Neuro Health, will leaseback 100% of the property from the new owner for a 15-year term. Managing director Rudy Hubbard, senior vice president Kevin McConn and vice president Rick Goings led the JLL team on the sale.

ENGLEWOOD, CO—Phoenix Realty Group purchased Silver Cliff Apartment Homes for $57.8 million jointly with a third party family office and discretionary affiliated investment vehicles. The property is a 312-unit class-B multifamily apartment community located at 5275 S. Delaware St. PRG will operate the rental community and plans to renovate, upgrade and modernize the property. In addition, the property will be rebranded with a new name.

GARLAND, TX—Bearcom Operating LLC renewed its lease of 91,200 square feet at Gateway East Business Center, 4009 Distribution Dr. Matt Dornak and Ryan Wolcott with Stream Realty Partners represented the landlord, Barings. Avison Young represented the tenant.

GRAND PRAIRIE, TX—Dynamic Glass leased 54,649 square feet at Trinity Crossing. Cannon Green and Luke Davis with Stream Realty Partners represented the landlord, Cabot Properties. Cushman & Wakefield represented the tenant.

HOUSTON—Lee & Associates–Houston has partnered with leading industrial real estate company DCT Industrial Trust Inc. in its search for a tenant to occupy 52,945 square feet of warehouse and office space at 16303 Air Center Blvd. Robert McGee and Ryan Searle with Lee & Associates–Houston are managing the listing. The Air Center facility includes 44,064 square feet of warehouse space with an additional 8,881 square feet for office use. The property is in a foreign trade zone on 5.9 acres and is fully fenced with gate access. Additionally, the space features a cross dock configuration with four dock-high positions and nine drive-in doors.

HOUSTON—CBRE has arranged a 19,149-square-foot sublease for Frontier Utilities at 5444 Westheimer Rd. Frontier Utilities, a rapidly growing retail electricity and natural gas supplier, is moving its corporate headquarters to the class-A building where it will occupy an entire floor. CBRE's Steve Hesse, Brandon Clarke and Ryan Roth represented Frontier in lease negotiation with the sub-landlord, Baker Hughes, which was represented by Cushman & Wakefield's Bill Romane. In addition to CBRE, Frontier Utilities was represented by Reid Wilson and Randy Lerner of Wilson Cribbs + Goren PC.

IRVING, TX—Signature Global Logistics Inc. leased 98,500 square feet at 8551 Esters Blvd. Ryan Boozer with Stream Realty Partners represented the landlord, Twin Lakes Investments LP. Ronald Bullock with Scott Brown Commercial represented the tenant.

MAGNOLIA, TX—Aldi, a 19,054-square foot net-leased property, has sold. The asset had a list price of $4 million. Nate Newman, senior associate in Marcus & Millichap's The Woodlands office, and Vincent Knipp, senior vice president investments in Marcus & Millichap's Dallas office, had the exclusive listing to market the property on behalf of the seller, a developer. Aldi is located at FM 1488 and Conroe Huffsmith Road.

OKLAHOMA CITY—ARA Newmark announces the $60.5 million sale of Brookwood Village. At 1,128 units, this community is the largest in the state. Senior managing directors Tim McKay, David Burnett and Brandon Lamb and Associate Justin Wilson represented Tulsa-based seller Brookwood Village Apartments LLC in the sale to Weidner Apartment Homes. The Kirkland, WA-based firm purchased the property at approximately 94% occupancy, and currently owns nearly 50,000 units in both the United States and Canada.