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<\/p>\nA 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.<\/p>\n
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\n Courtesy of Trammell Crow Co.\n <\/p>\n
\n Lake Vista Technology Park will be built a few miles northeast of DFW Airport.\n <\/p>\n
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.\u00a0<\/p>\n
\u201cLewisville\u2019s strategic location within the DFW Metroplex makes it especially attractive to future tenants seeking speed-to-market advantages, proximity to customers, and operational efficiency,\u201d Scott Krikorian, senior managing director for Trammell Crow in Dallas-Fort Worth, said in a statement.\u00a0<\/p>\n
Lake Vista Technology Park will include:<\/p>\n
a nearly 123K SF rear-load facility with a 32-foot clear height and a 200-foot depth;
\nan almost 127K SF rear-load facility with a 32-foot clear height and a 270-foot depth;
\nand a nearly 67K SF rear-load facility with a 32-foot clear height and a 160-foot depth.<\/p>\n
Trammell Crow will pursue LEED certification for each building.\u00a0<\/p>\n
Comerica Bank will provide construction financing for the project.\u00a0<\/p>\n
Alliance Architects is the project\u2019s 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\u2019s Steve Trese and Wilson Brown will market and lease the project.<\/p>\n
SALES<\/p>\n
Transwestern Investment Group purchased the 380K SF Lone Star Commerce Center logistics park in Northwest Fort Worth. The park\u2019s three shallow-bay industrial buildings were completed in 2021 and are 100% leased. Cushman & Wakefield\u2019s Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry represented the seller, a fund backed by Brookfield Asset Management.<\/p>\n
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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\u2019s 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.<\/p>\n
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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\u2019s Bard Hoover and Nick Fluellen marketed the property on behalf of the seller and procured the buyer. Marcus & Millichap\u2019s John Brickson secured three-year financing at 80% loan-to-value with a national bank.\u00a0<\/p>\n
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\n Courtesy of Newmark\n <\/p>\n
\n McKinney Village is located next to Medical City McKinney Hospital.\n <\/p>\n
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\u2019s Brian O\u2019Boyle Jr., Brian Murphy, Richard Furr and Jack Forman represented the seller, Equus Capital Partners. Newmark\u2019s Mitch Clarfield and Alec Newman secured the financing from Fannie Mae on behalf of the buyer, Weidner Apartment Homes.\u00a0<\/p>\n
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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\u2019s John Bowles, Susan Gwin Burks and Bruce Butler represented the seller, Arapahoe Grande Investment LLC, an affiliate of Mohegan Capital.\u00a0<\/p>\n
CONSTRUCTION AND DEVELOPMENT<\/p>\n
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\u00a0roads is expected to be completed in the third quarter of 2027. Wintrust Commercial Real Estate provided construction financing for the development.<\/p>\n
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