PM Realty seals the deal on area transactions

BY BETTY DILLARD

March 03, 2008

Kurt Cherry, senior vice president of PM Realty Group in Grand Prairie, recently represented the company in four separate leases.

Priority Power Management LLC, an independent energy management and consulting services firm, leased 5,543 square feet of office space at Carrier 360, a four-story, 75,000-square-foot building located at 2080 N. Highway 360 in Grand Prairie. The property has an 88 percent occupancy rate.

Dobbs Temporary Services, dba ProStaff, renewed its lease for 2,132 square feet of office space in Carrier 360. Rebecca Smith of Stream Realty Partners represented ProStaff in the negotiations. Cherry represented the landlord, Carrier 360 Office Associates LP, in both deals.

In another transaction, Cherry represented Arlington Owner Corp. for a lease of 5,205 square feet at Skymark Tower by Fossil Creek Resources.

Located at 1521 N. Cooper St. in Arlington, Skymark Tower is an eight-story Class A office building that has a current occupancy rate of 91 percent.

Lance McIlhenny of The Staubach Co. represented Fossil Creek Resources in the negotiation.

Texas Star Inc. acquired from Southwest Securities FSB a 7,200-square-foot multitenant retail building, located at the southwest corner of West Pioneer Parkway (Spur 303) and Park Springs Boulevard in Arlington.

David Keal with Aubrey Keal Commercial Group represented the seller, while Cherry represented the buyer. Cherry and PM Realty will market and lease the building for Texas Star.

Equipment dealer pushes on

Industrial Buckets USA Inc., which sells and refurbishes heavy earth moving equipment, has purchased 2.5 acres at the southwest quadrant of North Loop 820 and Atlee Parkway in Fort Worth for an undisclosed amount. The company, currently at 3301 E. Loop 820 and Berry Street, will move to its new location within two months.

Aaron Stalberger and Chris Haller of Patterson & Associates Commercial Real Estate in Fort Worth negotiated the deal between Industrial Buckets and 820 Mark IV, which was represented by Steve McKeever.

Elhoff expands practice

Arlington financial counselor Charles R. (Chuck) Elhoff of Elhoff Financial Counseling is expanding his practice with an office at 1808 Industrial Blvd. in Colleyville.

As in his Arlington office, Elhoff will offer investment growth and management, estate planning, asset protection, personal trust services, insurance counseling and personal financial planning.

For almost 20 years, Elhoff has represented Capital Financial Group/H. Beck Inc., which was recently named Broker of the Year by Investment Advisor Magazine.

ThermoTek calls FM home

Medical device manufacturer ThermoTek Inc. is relocating 50 employees from its current Carrollton and Lubbock facilities to a 26,000-square-foot building at Corporate Ridge Business Park, within Flower Mound’s premier Lakeside Business District.

According to Tony Quisenberry, founder and president of ThermoTek, the company expects to occupy the facility this spring.

ThermoTek’s products are used by orthopedic and plastic surgeons, dermatologists, physical therapists, professional athletes and athletic trainers.

Corporate Ridge, under the development of Champion Partners, is north of Lakeside Parkway and west of Gerault Road.

Partnership snags office complex

A local investment partnership has acquired the 42,770-square-foot office complex at 1550 Norwood Drive in Hurst from Pomona Properties LLC. The Class C, garden-style property sold for about $3.6 million. The offices are leased to attorneys, accountants and other professionals.

Russ Webb and Keith Fisher with Stream Realty Partners LP in Dallas negotiated the sale with Rob Wolfle of Swearingen Realty Group LLC.

Realty Capital invests in land

Tucson developer Bourn Partners has paid about $8 million for 185 acres at Interstate 35 and Westinghouse Boulevard, just north of its recent 350-acre Longhorn Junction purchase near fast-growing Georgetown.

The new mixed-use site will offer 500,000 to 700,000 square feet of commercial space, up to 800 multifamily units and approximately 400 assisted living units.

Colleyville-based Realty Capital Partners LLC formed RCP Georgetown Mixed-Use Land Ltd. to provide equity capital for the acquisition.

Lamar East Atrium sold

AD Lamer Atriums LLC purchased Lamar East Atrium, a two-story, garden-style office building at 1601 E. Lamar Blvd. in north Arlington, from Walker Inc. for $3.7 million.

The 57,395-square-foot building was built in 1982 and has recently undergone $500,000 in renovations. SCM Real Estate Services’ property management team coordinated the renovations. At the time of the sale, the building was 72 percent occupied.

Gary Walker with Walker Inc. represented the seller, while Gary Smith with Andrews Dillingham Properties Ltd. represented the buyer.

Sweet Tomatoes grows

Sweet Tomatoes, a California-based salad buffet-style restaurant, will open its second area eatery at 4001 Matlock Road in Arlington. The 7,000-square-foot restaurant is scheduled for completion this spring.

Sweet Tomatoes opened its first North Texas location in October 2007 near Addison. The chain plans additional locations in Southlake, Irving and the Frisco/Plano area over the next two years. Chris Stolzer has been named general manager of all North Texas operations.