GRAND PRAIRIE, TX-Third-party logistics provider Acme Distribution has decided to stay in its current digs. To that end, the company renewed its 87,816-square-foot lease for warehouse and distribution space for the stand-alone site.

Fred Kurtz, vice president and southwest regional property manager for the property’s owner Heller Industrial Parks says Acme Distribution has been at the site at 225 SW 14^th St. for five years. During that period, however, both tenant and landlord had to be extremely flexible with terms due to the Great Recession, which left Acme with some vacant space due to client consolidation.

“At the end of their committed term, the building began to see some vacancy and we worked with them,” Kurtz tells GlobeSt.com. “We try to make clients comfortable with their deals. It’s better to have a client paying rent than no client at all.” However, the one-year renewal – which Kurtz acknowledges is not an industry standard – is seeing Acme using some of its vacant space once again.

“We’re doing what we can to keep them in there,” Kurtz comments. “Building turnovers cost money.” Another fun fact in this deal was that Acme Distribution was the building’s first tenant when it came on line 25 years ago. The company returned when it signed a lease in 2005.

Leases

ARLINGTON, TX-Texas Loan Corp. signed a new 4,895-square-foot lease at 201-A E. Abram in central Arlington. Judy Zoch-Nitzinger, leasing agent with SCM Real Estate Services, in an intermediary relationship represented both the landlord and the tenant in the transaction.

DALLAS-Lifeguard Healthcare leased 2,037 square feet of office space at Two Energy Square, located at 4849 Greenville Avenue in Dallas. Jones Lang LaSalle’s Forshey Hoobler represented the tenant. Owner Younan Properties Inc. was represented by Sandie Matejek, also with JLL. ALM First has taken down 11,071 square feet at Park Place on Turtle Creek, 2911 Turtle Creek Blvd. JLL’s James Esquivel and Jeff Eckert represented the property owner, Dividend Capital Total Realty Trust. Chris Sido of Swearingen represented the tenant.

DALLAS – Injury Management Organization Inc. has renewed its 10,647-square-foot lease at International Business Park at 4100 Midway Road. Jonathan Hill and Christopher Fleeger of FinleyMorrow Corporate Real Estate Strategies represented Injury Management Organization in the lease negotiations.  Trevor Franke of Peloton Commercial Real Estate represented the owner. Injury Management Organization has also relocated and expanded its Houston operations leasing 2,501 square feet at York Centre at 10235 West Little York Road.  Chris Fleeger and Jonathan Hill of FinleyMorrow represented the tenant;  Rima Shpolyansky of CB Richard Ellis represented the owner.

FRISCO, TX – Four tenants signed new lease renewals totaling more than 12,000 square feet at Hall Office Park. Hall Office Park’s leasing team of Kim Butler, Tammy Lomonaco and Brad Gibson handled negotiations on all four transactions.  Stuber Cooper Voge PLLC renewed its 3,575-square-foot lease at 2600 Network Blvd. Carson Jones of Partners National represented the law firm in the transaction. Southwestern Investment Services Inc. renewed its lease for 2,106 square feet at 2591 Dallas Pkwy. Nora Hogan and Natalie Snyder of Transwestern represented the tenant. ProAdvocate Group renewed its lease for 1,600 square feet at 2591 Dallas Pkwy. Cody Petersen of Petersen Commercial Realty negotiated the lease on behalf of the tenant. Calpont Corp. signed a new lease at Hall Office Park, moving its business operations to 2801 Network Blvd. Stephen Johnston of Stream Realty represented the tenant.

HIGHLAND VILLAGE, TX – Regency Centers leased retail space to two new merchants at The Shops at Highland Village. Delta Dental Insurance Co. leased 10,678 square feet of office space, and children’s apparel retailer Addison June Baby Boutique leased 2,419 square feet. 

HOUSTON – KBS Realty Advisors signed two new leases totaling 14,100 square feet at its 222,750 square-foot Clay Crossing Business Center. Henry Schein Inc., a global distributor of medical, dental and veterinary supplies, will relocate from another Houston location to a 7,500-square-foot space in Clay Crossing I. The tenant was represented by Nathan Huffman from Houston-based USI. Foro Energy, a Denver-based manufacturer of high-power lasers for the oil, natural gas, geothermal and mining industries, will take 6,600 square feet in Clay Crossing II and was represented by Steve Adkisson and Stephen Fotiades of National Realty Group, Inc. in Houston negotiated the lease on behalf of Foro Energy.  Darryl Noon from Transwestern’s Houston office represented KBS in both transactions.

HOUSTON- CB Richard Ellis closed seven transactions totaling 101,888 sq. ft. at Sage Plaza, a 520,453-square-foot Class A office building at 5151 San Felipe St. Recent leasing activity includes a 71,913-square-foot lease to PSC LLC; a 10,008-square-foot lease to Epcot Electric; a 6,911-square-foot renewal to DeGolyer & McNaughton Corp.; a 6,677-square-foot renewal to Newmark Knight Frank; a 2,233-square-foot lease to Ramex, Inc.; a 2,109-square-foot. renewal to Aerojet Holdings Inc. and a 2,037-square-foot. lease to Black & Veatch. CBRE’s Bonnie Kelley represented the property’s landlord, a fund managed by BlackRock, in all transactions and Jim Bailey of Cushman & Wakefield represented PSC; John Beach with Jackson Cooksey represented DeGolyer & McNaughton; Brandi McDonald with Newmark Knight Frank represented Newmark; Justin Leighton with Studley represented Aerojet Holdings; and Steve Beigel with Studley represented Black & Veatch.

PHOENIX-Arizona Community Foundation (ACF) executed a 10-year, 17,219-square foot lease renewal of its Class A space at Anchor Centre West, 2201 East Camelback Rd. Lee & Associates’ Craig Coppola, Andrew Cheney and Chris Krewson represented the non-profit tenant. Mike Beall of Cushman & Wakefield represented the landlord, DW Capital Partners.

TUCSON--CB Richard Ellis’s David A. Volk represented United Insurance Co. of America in negotiating five lease transactions at its Foothills Corporate Center, a two-story office building located at 3430 E. Sunrise Dr. Tulsa, OK-based BOK Financial Corp. renewed its lease on a 2,369-square-foot office. BOK relied on in-house representation. Cisco Systems Inc. signed a 2,444-square-foot lease renewal for its sales office. Pat Williams of Jones Lang LaSalle. Principal Life Insurance Co. leased 4,935 square feet for a new administrative office of its Employers Dental Services and Principal Dental Services divisions. Terrus Real Estate Group in Des Moines, Iowa, and Tari Auletta of Grubb & Ellis represented the tenant. Plans call for the tenant to vacate space at 4720 N. Oracle Road and move to Foothills Corporate Center later this month. Ogletree, Deakins, Nash, Smoak & Stewart PC leased 3,550 square feet. Kay Davis and Robert Davis of Grubb & Ellis represented the tenant. Russ Lyons Sothebys leased 2,259 square feet for its new Tucson headquarters. The tenant was represented by its own agent, Dianne Grobstein.

TUCSON – Binswanger has been named exclusive leasing agent by Newport Corporation for an 80,600 square-foot semiconductor building on 5.63 acres.  The property is at 3321 East Global Loop.

VICTORIA, TX-Baker Katz’s Jamie Weaver represented Gold’s Gym Express in securing a 18,710-square-foot lease at the Northcross Shopping Center. This is Gold’s Gym first unit in the city. The tenant is taking down space formerly occupied by H-E-B Grocery. Warren Houser of Centcom Realty Corp. represented the landlord.

Sales

ALBUQUERQUE, NM -- In a deal valued at more than $15 million, San Diego-based Trigild Inc. – in tandem with Dallas-based brokerage firm Annandale Real Estate -- closed the sale of a portfolio of 30 Albuquerque area gas station/convenience stores once owned by PRP Inc. and operated by Ever-Ready Oil Inc. New Mexico-based Hopkins Real Estate was also involved in the deal. According to Gary Aharonian of Trigild the stores were sold to two separate regional operators -- with one buyer acquiring two of the portfolio locations and the other purchasing the remaining 28 sites.  Located throughout Albuquerque, NM and surrounding communities, the former Chevron and Conoco-branded properties range in size from 900- to 2,400-square-feet and are situated on half-acre to three-acre parcels.

CARROLLTON, TX- Singh Theaters LLC purchased the 56,057-square-foot former Albertsons building at Crestview Corners, 2661 Midway Rd. John Zikos and Christopher Gibbons of Venture Commercial Real Estate represent the seller, Albertsons LLC in the North Texas disposition of Albertsons stores. Kerri Rushing of Grand Realty Services represented the buyer, who will open a Parthenon Theaters at the location sometime early next year.

GLENDALE, AZ-Hendricks & Partners’ Mark Forrester, Ric Holway and Greg Thielen negotiated the sale of the 159-unit Arroyo Palms at 4444 West Ocotillo Rd. The asset sold for $2.7 million to Bella Lofts LLLP of Scottsdale, AZ. The seller was TriTex Arroyo Palms.

Capital Markets

FLOWER MOUND, TX-Lakeside DFW, the 117 acre, mixed-use property on the northern shore of Lake Grapevine has emerged from bankruptcy according to Peter B. Stewart, president of asset owner Lakeside DFW Inc. “We are pleased to have found new capital partners that have invested substantial monies in the project. This new capital has enabled us to work out a new loan with our lender, BBVA Compass Bank,” Stewart said. 

HOUSTON-Chris Pollard of LMI Capital arranged $5.3 million in debt to refinance the 266-unit Villa Adora. The non-recourse loan features a 30-year amortization.  The borrower purchased the property in 2009 and spent more than $2.5 million renovating the asset.  Will help pay off the higher cost bridge debt and recapture much of the equity they had invested into the property.

IRVING, TX- Chris Pollard of LMI Capital arranged a $4.4 million loan to acquire the 160-unit Kirkwood Park. Pollard worked on behalf of the borrower to secure a 10-year loan through one of LMI Capital’s Fannie Mae lending sources.  The non-recourse loan features 80% leverage and 30-year amortization.

OKLAHOMA CITY-First Financial Network Inc. is offering $100 million in performing and non-performing commercial real estate and C&I loans. The portfolio is being marketed on behalf of a leading national financial institution, with a scheduled bid date of Oct. 12. All collateral properties are in New York and California. Approximately 40 percent of the loans are performing with the balance composed of non-performing loans.

SCHERTZ, TX – William Luedemann and Lori Sowa of NorthMarq Capital’s Houston office arranged a $5.15 million mortgage for FM 3009 Shopping Center, a 40,483 square foot retail center. Financing was based on a 20-year term and a 20-year amortization schedule and was arranged for the borrower FM 3009 Horizon LP by NorthMarq through its correspondent relationship with StanCorp Mortgage Investors LLC. The security included the 91%-occupied shopping center as well as two ground-leased pad sites.

Executive Moves

DALLAS- William (Bill) H. Flaherty has been appointed president of Rosewood Property Co. Prior to joining Rosewood, Flaherty was senior vice president of the Irvine Company, where he developed and implemented a marketing platform for its 475 office properties in West Los Angeles, Orange County and San Diego. Flaherty also served as senior vice president of leasing and marketing for Maguire Properties, a Los Angeles-based public REIT. In Dallas, Flaherty was a senior vice president and a partner at Maguire Partners, where he helped develop the master-planned Solana campus in Southlake and Westlake, Texas. Flaherty was also a senior vice president at Rosewood Property Company from 1984 to 1990 where he directed the leasing and marketing of the office portfolio, including its landmark project, The Crescent.

HOUSTON-Transwestern has hired Michael Snodgrass and Jan Sparks as senior vice presidents – investment services. A 17-year industry veteran, Snodgrass was a principal and director of the real estate financing and equity investment division at Sparks Financial Group Inc. prior to joining Transwestern. Sparks served as principal at Sparks Financial Group. She has more than 20 years of experience in real estate finance.

PHOENIX-Brad Ahrens has joined Cassidy Turley BRE Commercial’s Industrial Services Group as a vice president. Ahrens will join the industrial services team of Mike Haenel and Andy Markham. Ahrens has eight years of real estate experience, including finance, investment, user sales and leasing. Prior to joining Cassidy Turley BRE Commercial Ahrens was with Commercial Properties where he was a Top Producer in 2010 and 2011.

Tate Ash is also joining Cassidy Turley BRE’s Industrial Services Group as a sales assistant who will work with Brian Lee and the team of Bruce Calfee and Josh Wyss. Ash has two years of sales and marketing experience, including one year with a Utah commercial real estate company where he was responsible for research and client management for office and retail service groups.  He is a 2011 graduate of Brigham Young University.