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Dallas/Ft Worth Commercial Real Estate News From CoStar Group

Texas Central Partners secured a loan of up to $300 million this week for a project that would bring high-speed public transit to Texas. Image Credit: Texas Central Partners A modern-day tale of railroad tycoons is playing out deep in the heart of Texas as firms backed by billions of dollars vie to bring high-speed public transit to the nation's second-largest state. This week, Texas Central Partners, a private enterprise trying to build the...

9/20/2018 10:33:42 PM

Conference USA, an Irving, Texas-based collegiate athletic conference, has decided to move its longtime North Texas headquarters from Irving's Las Colinas neighborhood to a newly completed office building along North Lake in Cypress Waters. The league recently signed a lease totaling 9,010 square feet of office space at The Sound at Cypress Waters at 3100 Olympus Blvd., a five-story, 250,000-square-foot office building completed in August in Coppell...

9/19/2018 10:43:28 PM

35/820 @ Mercantile Center in Fort Worth, Texas. Dallas-based Hunt Southwest Real Estate Development, the second real estate development arm founded by the Lamar Hunt family, has sold 35/820 @ Mercantile Center, one of its newly completed projects in North Texas. The 657,043-square-foot industrial building, at 4800 N. Sylvania Ave. and 2601 Quorum Dr. in Fort Worth, opened last August. It's the second Hunt Southwest-developed building recently...

9/19/2018 10:18:14 PM

Ulrich Barn Builders is the latest company to sublease office space at Pier 1 Place in Forth Worth, Texas. Tarrant County-based Ulrich Barn Builders plans to relocate its North Texas corporate office into Forth Worth's city center with the help of a full-floor sublease from home furnishings retailer Pier 1 Imports. Pier 1, which has a lease through 2027 for the majority of the 20-story tower at 100 Pier 1 Place, has been scaling back its operational...

9/17/2018 11:36:15 PM

Lincoln Property Co. is considering selling 1900 Pearl, a 25-story office tower in Dallas, according to real estate sources. The strength of the Dallas office market is raising the possibility for a newly constructed tower to set a price per square foot record in Texas. Three years ago, Dallas-based Lincoln Property Co. pulled off a coup, snapping up a high-profile tract of developable land at the hard corner of Pearl Street and Woodall Rodgers...

9/17/2018 1:45:00 AM

Investcorp has purchased 56 industrial properties in seven U.S. markets for $300 million. A Bahrain-based global investor with $22 billion in assets closed on its biggest U.S. industrial portfolio yet, giving the firm another 4.5 million square feet spanning 56 properties throughout seven major markets including Chicago and Dallas. Investcorp, which now owns 14 million square feet of U.S. industrial properties, has been gobbling up industrial...

9/16/2018 8:58:50 PM

Independent Bank's new headquarters will be the tallest building in McKinney, Texas, but not for long, as the Dallas suburb is seeing more vertical construction. Construction has reached its uppermost floor on the new corporate headquarters for Independent Bank in McKinney, Texas, making it the city's tallest building at 6 stories. But it won't be the tallest for long in McKinney, a suburban city in North Texas that sits about 30 miles from...

9/14/2018 12:33:23 AM

West Monroe Partners is moving its Dallas offices downtown after agreeing to a lease with Billingsley Cos. for 11,767 square feet at One Arts Plaza in the city's Dallas Arts District. The business and technology consulting firm, which has more than 1,0000 employees in nine offices nationwide, will relocate in January from Mockingbird Station to the 541,389-square-foot, 18-story One Arts Plaza at 1722 Routh St. The expanded space will give the firm...

9/11/2018 9:14:15 PM

The ownership behind Comerica Bank Tower in downtown Dallas has paid off an existing CMBS loan totaling about $143.5 million with a new loan that will help revitalize the 1980s-vintage building and expand an adjacent office garage. Dallas-based TriGate Capital and M-M Properties of Houston borrowed an undisclosed sum from New York-based Annaly Commercial Real Estate Group. At the time of the loan, the ownership group had $143.5 million left on...

9/11/2018 2:53:02 AM

Mitchell E. Rudin, a veteran New York real estate executive who previously held senior positions at CBRE, Brookfield and Mack-Cali Realty Corp., will join Savills Studley as its next president, succeeding Michael Colacino who is stepping down at the end of 2018. Former Mack-Cali Realty Corp. Chief Executive Mitchell Rudin, who abruptly departed the New Jersey-based REIT in June, has landed at Savills Studley, the U.S. affiliate of London-based global...

9/10/2018 1:55:00 AM