Commercial Real Estate

CRE Briefs: Emmitt Smith’s Company Moves Forward on Southern Dallas Redevelopment

Plus 7 million square foot industrial park heading to Fort Worth, Comerica Bank Tower under new leasing And management, and more.

Real estate company E Smith Legacy and impact investor American South Real Estate Fund have arranged construction financing for the renovation of the 4315 Innovation Center in Southern Dallas. Located at the southwest corner of Lancaster Road and Ann Arbor, the project will serve as a community hub with 29,386 square feet of office and mixed-use space.

The space had been empty for years since the Urban League moved its offices. Texas Security Bank provides construction financing. Tenant include Cedar Valley Community College, UNT Dallas, Guru Financial, and other select, community-focused businesses committed to providing services and jobs to the local community, said Tamela Thornton, head of, Social Infrastructure Development, E Smith Legacy.

[The Cedars] Charters Investments Begins Leasing New Boutique Apartment Community

Continuing their expansion in The Cedars neighborhood south of downtown Dallas, Charter Investments has begun pre-leasing its new 68-unit boutique apartment community, Cityscape Park, to round-out phase one. This is the second community under the Cityscape moniker. The first, Cityscape Arts, opened in early 2020 near Sundance Square in Fort Worth. Currently, in Phase One of development, the goal of The Cedars Collection is to provide innovative yet affordable living and work opportunities within walking distance of downtown and the Farmer’s Market. The new development features one- and two-bedroom units starting at $1,300 per month that feature modern color schemes and include quartz countertops, stainless-steel Samsung appliances, and washer/dryer hook-ups. Unique floorplans range from 450 to 2,000 square feet with two-story lofts available.

Clarion Partners, Crow Holdings Capital, and Rob Riner Companies Acquire 556 Acres for Fort Worth Industrial Park

Clarion Partners and Crow Holdings Capital, in partnership with Rob Riner Companies, have acquired 556 acres in Fort Worth to develop an industrial and logistics park totaling 7 million square feet. The master-planned park, named Carter Park East, will be developed in multiple phases, including spec and built-to-suit. The estimated delivery for the first spec phase is summer 2021. Seth Koschak, Forrest Cook, and Jeff Rein with Stream Realty Partners have been selected as the leasing team for the project.

Two Xplor Preschool Locations Change Hands

Dallas-based Strive has arranged the sell of two Xplor Preschool locations, one in Mansfield and the other in Carrollton. Strive represented the seller, a Dallas area investor, and sourced the buyer, a repeat client of the firm from Texas.

Fort Worth Mercantile Business Park Office Property and Land Hit The Market
Fort Worth’s Mercantile Business Park

JLL has been selected to lead sales efforts on the single-story office property and adjacent 2.76-acre tract in Fort Worth’s Mercantile Business Park area. Located at 2651 South Polaris Drive in Fort Worth, the 21,347-square-foot, office property is currently occupied and operated by technology solutions firm Buxton as their corporate headquarters. JLL Managing Director Pat McDowell and Senior Vice President Matt Montague are leading the marketing and sales efforts on behalf of the owners, BGR Partners.

Comerica Bank Tower Under New Leasing And Management

TriGate Capital has selected Stream Realty Partners to take over the management and leasing of Comerica Bank Tower in downtown Dallas. The 60-story, 1.5 million-square-foot building, is home to major tenants such as Comerica Bank, K&L Gates, Marsh USA, and Fish & Richardson. The building has over 450,000 square feet of office space available for lease. Comerica Bank Tower has undergone many improvements since 2014, including recently finished lobby renovations with upgraded entrances, seating, and coffee bar coming in fall 2020.

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