Each week, D CEO Real Estate publishes the region’s top commercial real estate leases, sales, and new developments in its Deal Ticker. Submit your news via this online form.
Lease
Office
The1.2 million-square-foot Trammell Crow Center’s is now 92 percent leased, as Stream Realty’s landlord representation team has helped secure a string of new and renewed leases for the Ross Avenue multi-use property. Stream’s Doug Jones, Marissa Parkin, and Chase Lopez have closed a total of 144,567 square feet of office lease space for the Arts District property over the past 8 months. New tenant absorption totals 75,522 square feet of leases, with renewals accounting for the remaining 69,045 square feet.
New leases include a full-floor lease of 27,990 square feet of office space by an undisclosed tenant, 17,043 square feet leased by Ahmad, Zavistanoz & Mensing, and 9,291 square feet leased by Crowell & Moring. Gibson Dunn has expanded its lease in the building by 10,699 square feet, bringing its total square footage to 89,879. Stream Realty Partners has renewed its own 44,578-square-foot lease, while FTI Consulting renewed its 15,373-square-foot space.
Trammell Crow Center was built in 1982 and is valued at more than $330 million. It is one of the most-leased properties in downtown Dallas.
Sale
Office
Buchanan Street Partners has sold Tollway Plaza, a 376,259-square-foot office campus off the lower tollway. Tourmaline Capital Partners and an equity partner bought the property, which consists of two eight-story office towers on 7.4 acres of land, along with 91 percent of the office space leased. Newmark represented the seller and helped secure financing for the transaction.
Multifamily
The Mark at Midlothian, a 236-unit multifamily asset in Midlothian, Texas, has changed hands in a recent sale. The asset was developed in 2020 and features three stories of units averaging 881 square feet, with luxury amenities. Michael Ware, Joey Tumminello, Drew Kile, Taylor Hill, and Jack Windhap of Marcus & Millichap’s Institutional Property Advisors division represented the seller and procured the buyer for the sale.
Apogee Capital has purchased the multifamily property Flintridge in Arlington. The property, built in 1979, features 188 units averaging 743 square feet and is close to the intersection of Interstate 30 and Highway 360. The property was a lender-owned asset, and Institutional Property Advisors’ Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello, and William Hubbard represented the seller in the asset’s disposition and procured the buyer.
Retail
Corsair Property Co. has bought the Paris Towne Center in Paris, Texas, from Culpepper Realty Co., which was represented by JLL Capital Markets in the sale. The 291,958-square-foot retail center is anchored by grocer Aldi and has 96 percent occupancy, with tenants including Hobby Lobby, Ross Dress for Less, TJ Maxx, Five Below, Ulta, and Bath & Body Works.
Financing
Multifamily
A $38 million bond reservation has been secured by the Onyx Legacy Group for its affordable senior housing development, Tabor Village. Located on the 19-acre site formerly owned by Mt. Tabor Baptist Church, the project is currently in construction prep and will deliver a multi-family apartment-style property for low-income seniors.
Personnel
Leadership
Stream Realty Partners has appointed Damien Matherne as Chief Financial Officer. Matherene steps into the role with more than 30 years of financial leadership experience, most recently at Clean Scapes, a commercial landscaping provider based in Austin, Texas, where he has served as CFO since 2011.
