This Week's Dallas-Fort Worth Deal Sheet

The Fort Worth City Council appointed AECOM Hunt, Byrne Construction Services and EJ Smith Construction to lead its convention center expansion project. 

The firms will manage the $30M first phase, which includes the construction of new food and beverage facilities, demolition of the annex, realignment of Commerce Street to make way for a future hotel and increasing the center’s loading docks.

“This project will bring incredible visibility to our city, and as a local Fort Worth company, being on this team is a point of great pride,” Byrne Vice President Ben Robertson said in a statement. “We look forward to every step ahead in bringing new life to our convention center and paving the way for all the leading events to come.”

Phase 1 is scheduled to begin in mid-2023 and wrap up in 2026. The center will remain operational throughout the duration of the two-phase project.

PEOPLE

MYCON General Contractors promoted Justin Jeffus to executive vice president. Jeffus, who is a partner at the firm, joined MYCON in 2004. 

LEASES

LanCarte Commercial finalized a 60K SF industrial lease at 560 North Beach St. in Fort Worth. Fort Worth ISD will use the building for additional storage. Sarah LanCarte of LanCarte Commercial represented the landlord. 

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The first phase of a 2.3M SF industrial park at 4180 East Scyene Road in Mesquite is now fully leased. Building 1, totaling 379.6K SF, will be occupied by Arizona-based Coleman Powersports, while Building 2, totaling 626.7K SF, will house Florida-based Masonite International Corp. Stream Realty Partners represented the owner, Dalfen Industrial, in the transaction. Phase 2, which includes three buildings totaling 1.3M SF, is under construction and expected to deliver in the second and third quarters of 2023.

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Stream Realty Partners executed the following leases.

— Virtex leased 65K SF at 2801 East Plano Parkway in Plano. Stream’s James Mantzuranis and Ryan Wolcott represented the landlord, Link Logistics. Elevate Growth Partners and Brett Lewis with Lee & Associates represented the tenant.

— ELM Fieldsight leased 126K SF at Live Oak Logistics Park in The Colony. Stream’s Bob Hagewood and Mac Hall represented the landlord, Link Logistics. Stream’s Eric Crutchfield represented the tenant.

— Seramik USA leased 26K SF at 904 North Central Expressway in Plano. Stream’s Crutchfield represented the tenant. CBRE represented the landlord, AJL Equity.

— Cambium Learning leased 15K SF at Briargrove Place at 17855 North Dallas Parkway in Dallas. Stream’s Matt Wieser, Patrick Cruz and Ryan Evanich represented the landlord, Wolverine Interests. CBRE represented the tenant.

— Elysium Consulting extended its lease by 16K SF at The Gild South at 8150 North Central Expressway in Dallas. Stream’s Marissa Parkin, Wieser and Cruz represented the landlord, Fenway Capital Advisors. Holley and Company Real Estate represented the tenant.

— Stellar Home Maintenance leased 21K SF at Quorum Place in Dallas. Stream’s Chase Lopez, Cruz and Evanich represented the landlord, DRA Advisors. Conor McCarthy and Maggie Birnbach with JLL represented the tenant.

— PepsiCo Global Real Estate leased 56K SF at Mesquite 635 Distribution Center, located at 19800 Interstate 635 in Mesquite. Stream’s Matt Dornak and Wolcott represented the landlord, Creation Equity. Cresa Global represented the tenant.

— Summit Direct Mail renewed 65K SF at 1631-1673 Terre Colony Court in Dallas. Stream’s Ridley Culp and Dornak represented the landlord, DRA Advisors. Lee & Associates represented the tenant.

— Evolution Electric Vehicles Inc. leased 189K SF at 4053 Grand Lakes in Grand Prairie. Stream’s Dornak and Culp represented the landlord, Duke Realty. Holt Lunsford Commercial represented the tenant.

— Elliott Electric Supply leased 43K SF at Core35 Logistics Center III, located at 2351 Walnut Hill Lane in Dallas. Stream’s Lena Pierce, Ryan Boozer and Sarah Ozanne represented the landlord, Crow Holdings Industrial. NAI Robert Lynn represented the tenant. 

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Pushpay signed a 10K SF lease at One Bethany West in Allen’s 17-acre Watters Creek development. The Washington-based company has about 60 Dallas-area employees, including some from its subsidiary, Resi Media. 

SALES

LanCarte Commercial brokered the sale of a 25.8K SF industrial park located at 2211 FM 920 in Weatherford. Sarah LanCarte of LanCarte Commercial represented the seller. 

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Strive sold a Class-A, three-tenant strip at The Riverwalk in Flower Mound, a 158-acre mixed-use development at the southeast corner of Long Prairie Road and Central Park Avenue. Hudson Lambert of Strive represented the seller, a local Dallas developer, and sourced the buyer, a North Texas investor. 

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LanCarte Commercial brokered the sale of a 1.37-acre developable site at the corner of McPherson and Brewer boulevards in Fort Worth. Debi Friedlander and David Corley III from LanCarte Commercial represented the seller.

CONSTRUCTION AND DEVELOPMENT

Streetlights Residential completed The Louise, the second phase of a luxury multifamily community within Viridian, a 2,000-acre master-planned community in Arlington. The project’s first phase, The Jackson, was completed in 2021. StreetLights Creative Studio served as the architect of record and handled all interior design. SLR Construction LLC served as the general contractor.

FINANCING

Pembrook Capital Management LLC provided a $12.2M bridge loan to recapitalize and renovate The Braxton Apartments, an affordable multifamily property at 3602 Country Club Road N in Irving. One complex has already been renovated and fully leased after receiving a certificate of occupancy in September. Pembrook’s financing will provide the necessary capital to complete nonstructural exterior renovations, interior renovations and upgrade common areas for the remaining seven complexes.

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The Dallas Development Fund, a community development entity managed by the Office of Economic Development, was awarded a $55M allocation through the New Markets Tax Credit Program to invest in underserved areas. DDF’s previous allocations of $185M have supported numerous projects throughout Dallas, with a focus on Southern Dallas.