STAFF REPORT | DALLAS BUSINESS JOURNAL | APR 28, 2018
Financial services firm Northern Trust Corp. is growing its presence in Dallas’ Uptown neighborhood.
The company this week renewed its lease at the Saint Ann Court tower, where it has been a tenant for five years. Northern Trust also expanded its footprint in the building, located at 2501 N. Harwood St., from 8,000 square feet to 13,000 square feet. The additional room will allow it to bring wealth management and banking professionals under one roof.
“Uptown is the economic engine driving progress throughout Dallas’ core,” said Kelly Whaley with Harwood International, which developed Saint Ann Court tower. “Eighty-eight percent of Uptown households hold a college degree and the median age is only 31. The city’s global firms will continue to choose Uptown because it’s become synonymous with quality growth.”
Whaley and Hannah Waidmann of Harwood International negotiated Northern Trust’s lease in partnership with Harlan Davis, Neal Puckett and Phil Puckett of CBRE.
Saint Ann Court opened in 2009 and is the sixth of 18 planned phases for Uptown’s Harwood District. The development includes a tower housing tenants like Northern Trust, Amegy Bank, Boston Consulting Group, McDermott Will & Emery, Unisys and Viant Technology. Tower amenities include an 11-story parking garage, restaurant Mercat Bistro, valet parking and a private fitness center.
The phase also includes an adjacent two-story building housing Saint Ann Restaurant and Bar and The Ann & Gabriel Barbier-Mueller Museum: The Samurai Collection.
Check out more deals recently brokered across North Texas…
Retail/restaurants
A well-known Uptown Dallas property once occupied by the Idle Rich bar and restaurant has been leased to a new eatery, with One Sette taking over 5,301 square feet at 2614 McKinney Ave. Colliers International retail advisor Michael Tran represented One Sette in the transaction. Gretchen Miller and Stephen Wise with Weitzman represented the landlord, J&K Real Estate Investments.
Park Glen Market Place, a 9,540-square-foot retail property at 5421 Basswood Blvd. in Fort Worth, was scooped up by an in-state private investor. Phillip Levy with Marcus & Millichap’s (NYSE: MMI) Dallas office, and Chris Gainey, with the firm’s Fort Worth office, represented the buyer and seller, an unnamed out-of-state investor.
Hotels/leisure
The recently-renovated Magnuson Hotel Park Suites Plano, an 84-room hospitality property at 640 E. Park Blvd., was purchased by a private investor. Alan Miller in Marcus & Millichap’s Austin office, along with Chris Gomes at the firm’s Dallas office, represented the seller, a limited liability company. Gomes and Miller also secured the property’s buyer.
Residential
Minneapolis-based apartment owner Dominium has acquired Beckley Townhomes at 801 Beckleymeade Ave., Dallas, for an undisclosed price. With the acquisition, Dominium is planning renovations to the 100-unit complex, including converting some of those units into section 42 housing. Dominium is also planning improvements to the property’s clubhouse and will add a new fitness center, an improved community room, a new maintenance garage and a new outdoor grilling pavilion.
A 12-unit apartment property in Burleson has sold to an unnamed partnership. Town Villa, located 116 N. Wilson St., was previously owned by a Texas-based limited liability company. Trey McGhin with the national multi housing group in Marcus & Millichap’s Fort Worth office listed the property and secured the buyer.
Marcus & Millichap and Institutional Property Advisors partnered to sell a portfolio of 14 multifamily properties for $192,460,095. The properties, which total 2,369 units, were purchased by an undisclosed buyer. Thirteen are located in Texas, with one in Albuquerque, New Mexico:
- Sunscape, 100 units, Abilene
- Mesa Verde, 243 units, Albuquerque
- Cantera Creek at Lake Highlands, 472 units, Dallas
- Castle Rock Apartments, 160 units, Dallas
- The Lantern at Lake Highlands, 340 units, Dallas
- The Vive at Lake Highlands, 248 units, Dallas
- Wynnewood Gardens, 106 units, Dallas
- 19Twenty, 184 units, Denton
- Cove Townhomes, 14 units, DeSoto
- Fairmeadows, 200 units, Duncanville
- Country Club Manor, 56 units, Terrell
- Columbus Heights, 24 units, Waco
- Tinsley Place, 214 units, Waco
Country Living, a 12-unit apartment property at 3100 Fifth St. in Sacshe, has sold to a Dallas-based limited liability company. Courtland Charles, an associate, and Mark Allen, a senior associate with Marcus & Millichap’s Dallas office, represented the seller, a California limited liability corporation.
A limited liability company has snapped up Country Club Manor, a 56-unit apartment property at 1451 Colquitt Road in Terrell. Trey Caldwell and Evan Burke, associates; Nick Fuellen, senior managing director of investments; and Bard Hoover, first vice president of investments with Marcus & Millichap’s Dallas office, marketed the property on behalf of the seller, a partnership. Burke, Hoover and Fluellen also secured the buyer.
Other
A Texas-based private investment group has purchased Anchor Bay Boat & RV Storage, a 71,185-square-foot self-storage facility in Corinth. Brandon Karr, first vice president of investments with Marcus & Millichap’s Fort Worth office, marketed the property on behalf of the seller, an unnamed private investor. Karr, with Danny Cunningham and Will Parisi, also of Marcus & Millichap’s Fort Worth office, helped secure the buyer.
Kennedale Self Storage, a 36,810-square-foot storage facility with 324 non-climate-controlled drive-up storage units, has sold to a Dallas company with a portfolio of more than a dozen self-storage facilities across the U.S. The property, located at 813 E. Kennedale Parkway in Kennedale, was listed by Karr and Cunningham on behalf of the seller, a local private investor that built the property in 1985.
