Hines, a Houston-based international real estate firm, has expanded its footprint in North Texas with the acquisition of a property near DFW International Airport.
The company announced this week its purchase of the DFW East Logistics Center for an undisclosed amount. The 259,555-square-foot property encompasses three buildings on an 18-acre site adjacent to the airport, between Highways 114 and 183.
Currently, the property is just 15-percent leased to two tenants, Universal Health Services and Bisco Industries, leaving 220,000 square feet up for grabs. Stream Realty Partners is working with Hines to sign additional tenants.
“We are excited to add this property and location to the Hines logistics portfolio, which is now approaching 2 million square feet,” Hines Director Connor Tamlyn said in a prepared statement. “We look forward to significantly expanding our logistics presence in the Dallas-Fort Worth area.”
Jonathan Bryan and Randy Baird at CBRE represented the seller in Hines’ purchase.
Hines owns or is involved in 22 real estate projects across North Texas.
Health care company Envoy Partners LLC sold its 12,000-square-foot building at 7168 Envoy Court in Dallas for an undislosed amount. The buyer was 7168 Envoy partners LLC. Jason Moser with Stream Realty Parters represented the seller. Charlie Richman with JSmall Investments represented the buyer.Social services provider Metrocrest Services extended its lease at 13801 Hutton Drive in Farmers Branch, where it occupies 11,071 square feet. Luke Davis and Todd Poticny with Stream Realty represented the landlord, International Capital. Savills Studley Inc. represented the tenant.Tim Vogds with CBRE represented Mentor Texas LP in extending its 39,992-square-foot lease at 555 Airline Drive in Coppell. The landlord, GLP, was represented by Blake Kendrick with Stream Realty.
Brain Synx, a concept that offers cognitive training to children and adults, has signed a lease for 2,895 square feet at 2615 E. Southlake Blvd. in Southlake. The landlord is Zing Properties LLC. David Levinson with The Retail Connection represented the tenant.
Garland Logistics Center will be home to a Barrett Distribution Centers facility, with the Franklin, Massachusetts-based company leasing 115,041 square feet inside the development at 3800 Leon Road in Garland. Barrett offers warehousing, transportation, distribution and fulfillment solutions across the U.S. Stephen Cooper and Rick Medinis from NAI Robert Lynn represented the landlord, IDI Logistics. Joe Whitmer and Brian McKenzie at Transwestern represented the tenant.Emissions & Cooling Solutions has leased 16,800 square feet of warehouse space at 11455 Newkirk St. in Dallas. Brian Pafford, senior vice president and managing partner with Bradford, represented the landlord, ML Capital Ltd. Joe Santaularia, first vice president with Bradford Commercial Real Estate Services; Brock Wilson, senior vice president and managing partner; and Clayton Hughes, broker associate, represented the tenant.Caddo Valwood LP sold a 22,506-square-foot industrial building to CCG Valwood LP. The property sits on one acre at 1208 Tappan Circle in Carrollton. Richmond Collinsworth, first vice president with Bradford Commercial Real Estate Services, represented the buyer, while Scott Gregory of Caddo Holdings represented the seller.Boston Barricade Co. Inc., which manufactures modular construction enclosures, has leased 11,760 square feet at 1410-1416 Dunn Drive in Carrollton. Lee & Associates LLC represented the tenant. Eric Crutchfield with Stream Realty represented the landlord, Hutton & Dunn Investors LLC. Fleet services company Black Horse Carriers Inc. leased 63,911 square feet at Park West Crossing, 501 Southwestern Blvd. in Coppell, from MLRP Park West Crossing F LLC. Jeremy Kelly and Ryan Boozer with Stream Realty represented the landlord, while Bryan Graham with BLG Commercial RE represented the tenant.
McKinney Square Properties No. 1 Ltd. sold 1.44 acres at 2905 Thomas Ave. in Dallas to Peter Emish. Collinsworth represented the buyer, while Michael Turner of J. Elmer Turner Realtors Inc. represented the seller.
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