The duo is Jerry Reis of Irving-based Property Advisers Realty Inc. and Tom Metcalfe of Coldwell Banker Commercial-SA in Dallas. And the first project is Furneaux Creek, a 25% vacant center at the crossroads of Old Denton Road and Texas 190 in Carrollton.
Reis leases Madison's office-tech product and was hired to steer Furneaux Creek's office leasing, construction management and property oversight. Metcalfe is tasked with his specialty, retail leasing and development. Madison tried to turn around the center with two other listing agents in the two years that it's owned the holding. It is hoped that as the line goes, "the third time is a charm."
It's too early to talk about project cost, but Reis confides to GlobeSt.com that Furneaux Creek is in for a major overhaul. The initial makeover will start with cosmetics until Madison games out a long-range plan.
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