A pair of vacant office buildings and two parking garages will be torn down to make way for an infill industrial project just northeast of Dallas Fort Worth International Airport.
Courtesy of Trammell Crow Co.
Lake Vista Technology Park will be built a few miles northeast of DFW Airport.
Trammell Crow Co. and joint venture partner PGIM broke ground on the 316K SF Lake Vista Technology Park in Lewisville. The three-building industrial park on approximately 20 acres at the southwest corner of Interstate 35 West and State Highway 121 is expected to be delivered by the fourth quarter of next year.
“Lewisville’s strategic location within the DFW Metroplex makes it especially attractive to future tenants seeking speed-to-market advantages, proximity to customers, and operational efficiency,” Scott Krikorian, senior managing director for Trammell Crow in Dallas-Fort Worth, said in a statement.
Lake Vista Technology Park will include:
a nearly 123K SF rear-load facility with a 32-foot clear height and a 200-foot depth;
an almost 127K SF rear-load facility with a 32-foot clear height and a 270-foot depth;
and a nearly 67K SF rear-load facility with a 32-foot clear height and a 160-foot depth.
Trammell Crow will pursue LEED certification for each building.
Comerica Bank will provide construction financing for the project.
Alliance Architects is the project’s architect, Peinado Construction is the general contractor, Halff is the civil engineer, Studio Green Spot is the landscape architect and SSI is the geotechnical engineer. CBRE’s Steve Trese and Wilson Brown will market and lease the project.
SALES
Transwestern Investment Group purchased the 380K SF Lone Star Commerce Center logistics park in Northwest Fort Worth. The park’s three shallow-bay industrial buildings were completed in 2021 and are 100% leased. Cushman & Wakefield’s Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry represented the seller, a fund backed by Brookfield Asset Management.
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Urban Infraconstruction bought the nearly 54K SF Midway Office Park at 14665 Midway Road in Addison. The two-story, Class-B office property was built in 1977 and renovated in 1998. It was around 60% vacant at the time of closing, and Urban Infraconstruction plans to expand the building while continuing to lease space to some existing tenants. Avison Young’s Bruce Butler, Susan Gwin Burks and John Bowles represented the seller, Midway Office Park LLC. Urban Infraconstruction was represented by Taylor Stell at Lee & Associates.
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Yilmaz Family Trust sold the 80-unit Lakedale multifamily property at 2921 Kendale Drive in Dallas to Evan Reifman. Built in 1974, the nearly 64K SF property is on 2.57 acres near Interstate 35. Marcus & Millichap’s Bard Hoover and Nick Fluellen marketed the property on behalf of the seller and procured the buyer. Marcus & Millichap’s John Brickson secured three-year financing at 80% loan-to-value with a national bank.
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Courtesy of Newmark
McKinney Village is located next to Medical City McKinney Hospital.
Newmark arranged the sale and financing of the 245-unit McKinney Village multifamily community in McKinney. The 2017-built property at 201 McKinney Village Parkway had a 94% occupancy rate at the time of the deal. Newmark’s Brian O’Boyle Jr., Brian Murphy, Richard Furr and Jack Forman represented the seller, Equus Capital Partners. Newmark’s Mitch Clarfield and Alec Newman secured the financing from Fannie Mae on behalf of the buyer, Weidner Apartment Homes.
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Elegant Investment Group Inc. purchased two Class-B office/flex buildings on 4.71 acres at 1200-1300 S. Sherman St. in Richardson. The two buildings total nearly 74K SF and are fully occupied by a single tenant, who has been at the property since 2012. Avison Young’s John Bowles, Susan Gwin Burks and Bruce Butler represented the seller, Arapahoe Grande Investment LLC, an affiliate of Mohegan Capital.
CONSTRUCTION AND DEVELOPMENT
The NRP Group broke ground on the 360-unit Camp Wisdom community in Dallas. Work on the market-rate development at the corner of West Camp Wisdom and Clark roads is expected to be completed in the third quarter of 2027. Wintrust Commercial Real Estate provided construction financing for the development.
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Lineage Inc. broke ground on a 606K SF automated cold storage facility in Hutchins. The $162M facility is located in Dallas County’s Prime Pointe Park, which sits adjacent to Union Pacific Railroad’s Dallas Intermodal Terminal. The facility is expected to begin operating in late 2027.
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HPI Real Estate Services and Investments broke ground on an 829-unit multifamily development at the southeast corner of Bonds Ranch and Blue Mound roads in Northwest Fort Worth. HPI is investing $16M of its own capital in the project alongside a group of private investors, including high net worth individuals, family offices and registered investment advisers. The total investment amount was not disclosed.
The project team for the first phase of the development includes Blackland Partners as general contractor; Archon Corp. as architect; Westwood Professional Services as the civil engineer; Norris Design as landscape architect; Innovative Structural Consultants as structural engineer; Power Systems as mechanical, electrical and plumbing engineer; Greystar as property manager; and Ellie Aiello Interiors as interior designer.
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The Bonham EDC announced plans for the 400-acre Powder Creek Ranch master-planned community near the intersection of state highways 121 and 56 in southwest Bonham. Sanchez and Associates will oversee the project, which will be developed across seven phases through 2035.
Once completed, it will include approximately 3,000 single-family residences, townhomes, build-to-rent units and multifamily options. Work on Phase 1 is anticipated to start in late 2026. It will include 205 multifamily units and a blend of single-family and build-to-rent homes. Future phases will include retail, restaurant and office space.
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Courtesy of Dwell Design Studio
A multifamily development in Highland Park ISD and the Park Cities community
Cawley Partners broke ground on a luxury multifamily development at 5801 Grassmere Lane in Dallas. The rental community will feature 44 boutique-style apartments. Dwell Design Studio is the project architect, and New Path Construction & Consulting LLC is the general contractor.
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Mintwood Real Estate and MSquared broke ground on the Loma multifamily community in the Oak Cliff area of Dallas. The project will deliver 370 luxury apartment homes, with 187 reserved for essential workers earning between 50% and 80% of the area’s median income. Loma is being developed in partnership with the Dallas Public Facility Corp. The project was designed by WDG Architecture, with Swoon, the Studio providing interiors and Site Solutions as the landscape designer.
FINANCING
Marcus & Millichap Capital Corp. secured construction financing for the first phase of Water Mill Square in downtown Mansfield. Marcus & Millichap worked on behalf of Nack Development to arrange 89% loan-to-cost financing. The 4-acre project will be on the southwest corner of Main and Broad streets. It will feature 60K SF of rentable commercial space across a pair of two-story buildings. Construction on the first phase will take around 18 months. Marcus & Millichap’s Brandon Wilhite represented the borrower.
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Marcus & Millichap Capital Corp. secured financing for the acquisition of Lakedale Apartments in Northwest Dallas. Marcus & Millichap worked on behalf of Deergrow Developments to arrange full-term, interest-only financing. The buyer plans to invest in capital improvements to upgrade all of the units. Marcus & Millichap’s John Brickson represented the borrower in the deal.
PEOPLE
Trademark Property Co. added Scott Elrod as chief financial officer. Elrod will focus on optimizing property accounting and reporting as well as leveraging technology to scale the company’s platform.
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The city of Plano promoted Doug McDonald to deputy city manager. McDonald has worked for the city for seven years and has served as director of economic development since 2022. His departmental responsibilities will include economic development.