Recent real estate news in the region:
OFFICE: DFW Office Investments Continue to Soar
July was an active month for Dallas-Fort Worth’s office market as investments continued to soar, Commercial Property Executive reported. According to CommercialEdge data, 13 properties totaling 1,904,648 square feet changed hands across the Metroplex, a 58.8 percent uptick in space traded month-over-month. When compared to July 2020, the value indicates a growth of 162 percent year-over-year, as only 726,862 square feet had traded in the metro at the time.
While most transactions involved traditional and flex office space, four deals totaling 211,572 square feet featured medical office properties. Same as in June, investors prioritized Class B/C properties, with only two Class A/A+ assets in the transaction mix. Suburban properties were the most sought-after, as 11 assets totaling 520,730 square feet changed hands in July.
TRANSACTIONS: Transwestern Real Estate Services
- Pronto Delivery Service renewed and expanded its 157,960-square-foot lease with Link Logistics Real Estate at 2007 Exchange and 1903 Exchange in Arlington. Transwestern’s John Brewer, Jordan Wade and Riley Maxwell represented the tenant.
- Nexxt Gen Corp. signed a new 20,406-square-foot lease at 7412 Baker Blvd. in North Richland Hills. Transwestern’s Todd Hawpe represented the landlord, Barnard Partners.
- Builder Services Group signed a new 20,223-square-foot lease at 2585 NE 33 in Fort Worth. Transwestern’s Todd Hawpe and Jeff Givens represented the landlord, Gyant Bethlehem.
- Fort Worth Camera signed a new 5,562-square-foot retail lease with TCRG Properties at 6483 Camp Bowie Blvd. Transwestern’s Bill Behr represented the tenant.
- Embellished Bodies signed a new 5,250-square-foot retail lease at 6206 South Freeway in Fort Worth. Transwestern’s Lyndon Todd represented the landlord, Gyant 6206, LLC.
Reserve Construction Hires Tim Storms to Lead DFW Market
Reserve Construction, a general contracting company offering commercial construction services, announced the hiring of Tim Storms as president. Storms will guide day-to-day operations and further the company’s business growth within its DFW markets.
Storms began his construction career in 1997 after graduating from Texas Tech University. “I am excited about the opportunities ahead of me and our team,” Storms said. “I believe we have the foundation set to do amazing things and I am looking forward to the journey.”