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Billingsley Co. announced this week that Florida-based Sherwood Bedding, a privately owned mattress manufacturer owned by Tempur Sealy, has signed a 10-year lease for 234,395 square feet on Tittle Drive and Plano Parkway in Austin Ranch – a 1,700-acre mixed-use ranch System . Construction of the new warehouse will begin in February 2022 and should be completed by March 2023.
“Sherwood Bedding has been a long-time tenant of ours at another location and their rapid growth required a move to a larger building,” said George Billingsley, Partner at Billingsley Co. “We are honored to be able to maintain our relationship and partner with you on this build to match the evolution. Given the strong market demand, we look forward to starting other new industrial developments in Lewisville and Denton in the near future. “
Damian Rivera from ESRP represented the tenant in negotiations with Billingsley. Gordan Highlander was selected as the general contractor for the project.
INDUSTRY
EastGroup properties The groundbreaking recently took place for the first phase of McKinney 121 at 4400-4500 South Hardin Boulevard in McKinney. The two-phase project will include two Class A industrial buildings with a total area of 212,200 square meters. Ken Wesson, Adam Graham and Brett Lewis of DFW Lee & Associates will be the leasing agents for the project.
McKinney 121 aerial view
Lee & coworkers
Matsing Inc. remodeled and expanded to 12,439 square feet at 651 N. Plano Road in Richardson. Jay Benner of Cushman & Wakefield represented the tenant and Lynna Smith of Hartman Income REIT represented the landlord.
MULTIPLE FAMILIES
ZMR capital has acquired Pecan Square, a 440-unit apartment complex at 3535 Webb Chapel, Dallas. Bayou Bend was also selected, a 308 unit property at 3353 Lombardy Lane. The deals increase ZMR’s presence in Texas to 2,500 units. The company will embark on a multi-million dollar capital improvement plan for the properties that will include upgrading the interiors of the units with new appliances, vinyl plank floors, kitchen cabinets, and tiled back panels.
Magma shares has partnered with Cincinnati-based Viking Partners to purchase two shared apartments – Verandas at City, 7301 Oakmont Blvd. in Benbrook and Vista Azul at 2911 Clydedale Drive, 10 miles north of downtown Dallas. Together, the properties have a total of 562 units. Magma expects to close three more properties by the end of the year.
Institutional real estate advisor, Division of Marcus & Millichap, has sold The Jameson at the Bluffs, a 387-unit apartment complex in Fort Worth. The property was built on nine acres in 2021 and has an average unit size of 784 square meters.
The Jameson in the bluffs
Marcus & Millichap
OFFICE
Marcus & Millichap sold Plano Pediatric with 7000 W Plano Pkwy in Plano. Ron Herbet and Joseph Jaques mediated the buyer for this off-market transaction. The seller owned a health facility.
Rainbow days rented 5,712 square feet at 12221 Merit Drive in Dallas. Jarrett Dunaway of ESRP represented the tenant and Yvette Rodriguez represented the landlord Hartman Income REIT.
Armstrong Douglass partner rented 3,283 square feet in 12655 N. Central Expy. in Dallas. Cribb Altman with JLL represented the tenant and Yvette Rodriguez represented the landlord Hartman Income REIT.
RETAIL TRADE
The city of the Great Plains broke ground for its new EpicCentral complex. Designed by Merriman Anderson Architects, it includes six restaurants and two new hotels – a Hilton Garden Inn and a Homewood Suites. Concord Hospitality of Raleigh, North Carolina will operate and operate both venues. The restaurants will open in 2022 and the entire complex will be operational in 2023. A convention center connected to the hotels will include a 10,000 square meter ballroom with 1,000 seats.
Marcus & Millichap sold a 24,400 square foot Dollar Tree at 1201 E. FM 1187 in Crowley. Philip Levy had the exclusive listing to market the property on behalf of the seller, a developer. The private investor buyer was also covered by Levy.
Burkes Outlet is 18,052 square feet at Ennis Crossroads, 1011 E Ennis Ave. in Ennis, leased. Chris Flesner and Brian Sladek from RESOLUT RE represented the landlord. Jennifer Reynolds from Winc Retail represented the tenant.
Marcus & Millichap sold the 9,288 square foot Dollar General located at 16708 FM 1485 in Conroe. Vincent Knipp had the exclusive listing to market the property on behalf of the private investor. The private investor buyer was also secured by Knipp.
ENDEAVOR sold an 8,700-square-foot four-tenant retail center MacArthur Court One at 7400 N MacArthur Blvd. in Las Colinas. Hudson Lambert and Adam Gottschalk from STRIVE exclusively represented the seller, a local Dallas investor, and worked with an outside broker to find the buyer, a Texas investor.
Marcus & Millichap sold 6,100-square-foot Anytime Fitness at 203 Laurence Drive, Heath. Vincent Knipp represented Marcus & Millichap in the sale to a private investor.
Sugaring NYC has rented 1,500 square feet in Tuscan Town Square at 1061 N Coleman St, Prosper. Gavin Fite from RESOLUT RE represented the tenant. Luke Brown and Jennifer Rushton of Brown & Griffin Real Estate Advisors represented the landlord.
Ariat, a California-based Western performance and lifestyle brand, opens a new retail store on Mule Alley in the Fort Worth Stockyards. “We’re building an unprecedented one-stop destination for the ultimate traditional western brands on Mule Alley, and Ariat is the perfect addition to our tenant mix,” said Craig Cavileer, Executive Vice President of Majestic Realty. In early 2021, Ariat expanded its Texas operations to include a regional distribution center in Fort Worth.
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Sherwood Bedding Selects Billingsley Co.’s Austin Ranch For New Warehouse
