State-owned industrial property along US Corridor 75 changes hands

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Based in Dallas Preston Forrest Capital focuses on commercial real estate towards industry. The company purchased a 518,700 square foot industrial property at 1400 W. FM 1417 from Sherman for an undisclosed price.

The property spans 70 acres and is located 40 miles north of Dallas-Fort Worth, west from U.S Highway 87. This is now the largest industrial property acquired to date for Preston Forrest Capital.

The facility is 100 percent occupied and serves as a regional distribution center for CertainTeed Corporation, an international manufacturer of construction products. The building is located in Progress Park, a 3,300-acre business park that is currently home to Tyson Foods, Sunny Delight, Texas Instruments, FedEx and other companies. Before becoming a distribution warehouse, the building was an insulation manufacturing and distribution center.

Stan McClure of CBRE represented the vendor, the State of Texas Permanent School Fund, and the General Land Office.

“This acquisition is directly in line with our business strategy as we continue to invest in growth markets with strong fundamentals,” Company President Dru Landrum said in a statement. “While we are active in other asset classes, our primary focus at this time is to expand our industrial holdings in Texas through acquisitions and developments.”

Preston Forest manages a $ 50 million portfolio of assets under management.

INDUSTRIAL

Emblematic companies has filed for state permit to construct a 470,000 square foot industrial building on Clay Road in Sunnyvale. Construction on the $ 22.5 million project will begin in mid-August and end in April 2022. Ware Malcomb will lead the design.

Panda High Plains purchased 458,810 square feet of industrial space at 8600 N. Central Freeway in Wichita Falls. Nathan Denton, Reid Bassinger and Trey Fricke of DFW Lee & Associates represented the seller, 8600 Central Venture and Michelle and Tod Hudson of Hudson Peters Commercial represented the buyer.

RSI North America leased 391,985 square feet at the Carter Distribution Center in Fort Worth. Matt Carthey and Thomas Grafton of Holt Lunsford Commercial represented the owner, PGIM. Grant Pruitt and Jade Scott of Whitebox Real Estate represented the tenant.

Johnson Cherry Creek leased 214,649 square feet at the Penn Distribution Center in Dallas. CBRE represented the owner, TA Realty. Ridley Culp with Stream Realty Partners represented the tenant.

Alpha Furniture leased 160,120 square feet at GSW Distribution Center 20 in Arlington. Lee & Associates represented the owner, GRM Document Storage. Luke Davis and Charles Brewer of Stream Realty Partners represented the tenant.

A 143,771 square foot lot on 10 acres in a prime Plano location.

Cantex Capital completed the acquisition of a five-building 143,771 square foot industrial campus in Plano. Patrick Hunt and Cullen Finnegan of Trinity Southwest Commercial Real Estate represented the buyer in the transaction. The seller was represented by Dave Peterson and Mark Miller of NAI Robert Lynn.

United States Top Resources Corporation leased 67,200 square feet at 1720 Hayden Drive in Carrollton. Eric Crutchfield and Mac Hall of Stream Realty Partners represented the owner, DRA. Younger Partners represented the tenant.

Intertractor America Corporation leased 48,070 square feet at 2803-2831 Dairy Milk Lane in Dallas. Ryan Boozer, Mac Hall, Luke Davis and Charles Brewer of Stream Realty Partners represented the landlord and tenant.

SCL cold chain signed a 47,921 square foot lease at 9001 Sterling Street in Irving. Agents Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the owner, Brookfield Properties. Tom Hubbard with NAI Robert Lynn represented the tenant.

E&H Industries signed a 47,200 square foot lease at 2805 Market Street in Garland. Agents Josh Barnes and Ben Wallace of Holt Lunsford Commercial represented the owner, TA Realty. Bob Hagewood of Stream Realty Partners represented the tenant.

Overwrap packaging signed a 40,712 square foot lease with owner Dogwood Industrial Properties at 2130 – 2160 French Settlement in Dallas. Agents Canon Shoults and Keaton Brice with Holt Lunsford Commercial completed the transaction.

Customized transport systems renewed its 34,450 square foot lease at 2755 Miller Park North in Garland. Agents Josh Barnes and Ben Wallace of Holt Lunsford Commercial represented the owner, TA Realty. Robin Weber of Weber Commercial represented the tenant.

GDMI signed a 26,700 square foot lease at 10605 Boomer Circle in Dallas. Agents Josh Barnes and Ben Wallace of Holt Lunsford Commercial represented the owner, Alpha Industrial. Marshall Cooper of Cooper Commercial Inc. represented the lessee.

Ferguson Enterprises renewed its lease of 22,350 square feet to 700-710 107e Arlington Street. Agents Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the owner, Humphreys Capital. Brian Gilchrist of CBRE represented the tenant.

JT Inspection renewed its 22,332 square foot lease at 655 N Glenville Drive in Richardson. Agents Josh Barnes and Ben Wallace of Holt Lunsford Commercial represented the owner, ATCAP Partners.

Texas pike woodpecker renewed its 20,667 square foot lease at 1123 Conveyor Lane in Dallas. Agents Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the owner, Hines. Matt Middendorf of Middendorf Commercial represented the tenant.

Rocore South-West renewed its 20,160 square foot lease at 4020 La Reunion Parkway in Dallas. Holt Lunsford Commercial’s agent John Gorman represented the owner, PRIM Turnpike Portfolio. Travis Sapaugh of CBRE represented the tenant.

SEVERAL FAMILIES

Olympus and Ross exchange hands.

Olympe to Ross, a 368-unit multi-family complex in Dallas, has been sold. Kile and Joey Tumminello, Will Balthrope, Taylor Hill, Michael Ware and Grant Raymond with IPA represented the seller, Olympus Property, and procured the buyer, American Landmark.

Premier Texas and TriPointe plan to build approximately 185 single family homes priced at $ 300,000 to $ 400,000 in The Oaks of North Grove subdivision at North Grove Blvd and FM 813. David Hinson of Younger Partners negotiated the deal between the buyer, Carrollton-based Bluebonnet Capital Partners and the seller, a private family.

TB Rivercrest has filed for state permit to construct a 9,560 square foot multi-family apartment building at 204 Athenia Drive in Fort Worth. Construction on the $ 1,577,400 project will begin in September and end in September 2023. Hensley Lamkin Rachel is the publicly traded design company.

Crossing Apartments

With 151 units averaging 806 square feet, the Crossings Apartments at 526 W. Walnut Parkway in Garland have been sold. Jon Krebbs of The Multifamily Group represented the seller and procured the buyer.

OFFICE

JPMorgan Chase intends to move from its namesake tower to a new address in downtown Dallas, sources say. Chase will be leaving Chase Tower at 2200 Ross Ave. to move into the Hunt headquarters building on North Akard Street.

CDI Gateway has filed for state permit to construct a 44,000 square foot office warehouse at 8137 Gateway Drive in Argyle. Construction on the $ 1.2 million project will begin August 1 and end in June 2025. Bates Martin Architects will lead the design.

200 Bailey Ave., a three-story, 43,729 square foot office building, has been sold.

Transwestern Real Estate Services announces the sale of 200 Bailey Ave, a three-story, 43,729 square foot office building. Kyle Poulson and Gibson Duwe of Transwestern facilitated the transaction on behalf of the seller.

American Fire Protection Group renewed 37,252 square feet at Northgate Business Park II in Dallas. Ryan Wolcott and Adam Jones of Stream Realty Partners represented the owner, DRA Advisors. Landry Commercial represented the tenant.

Headington Energy Partners has filed for state permit to construct an 18,703 square foot one-story office building at 1501 North Hardin Boulevard in McKinney. Construction on the $ 3 million project will begin in September and end in late September 2022. Parkhill is the publicly traded design company.

Point of interest lands leased 6,811 square feet at Overton Center in Fort Worth. Matt Carthey of Holt Lunsford Commercial represented the owner, FLDR / TLCOverton Center. Jake Neal and David Cason of Holt Lunsford Commercial represented the tenant.

FST leased 3,984 square feet at 1333 Corporate Drive in Irving. Allison Fannin represented the owner, Hartman Income REIT.

King & Fisher Law Group leased 2,945 square feet at 12221 Merit Drive in Dallas. Matt Perry-Miller of Laughlin Commercial represented the tenant and Michael Bowles represented the owner, Hartman Income REIT.

Stubbs Engineering leased 1,504 square feet at the Livestock Exchange Building in Fort Worth. Matt Carthey and Jake Neal of Holt Lunsford Commercial represented the owner, Hickman Investments.

RETAIL SELLING

McKinney crossing, a 21,902 square foot site on Highway 380 and Highway 5 in McKinney, has been sold. The SHOP Companies investment sales team marketed the property.

The roasted yellow coffee

The roasted yellow coffee leased 4,056 square feet at Gateway Plaza in Southlake. David Levinson of The Retail Connection represented the owner, RPAI. Paul Vernon with Henry S Miller represented the tenant.

CBD Pros United States leased 1,650 square feet at 3040 W. Camp Wisdom Road in Grand Prairie. Colin Cannon and Mai Nguyen of RESOLUT RE represented the owner. Jeff Lewin of SF Waranch Company represented the tenant.


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