Alston Construction shares two promotions in Texas and Illinois

Alston Construction has promoted Jayson Taylor to regional operations manager for the Central Region. He is proactive and responsible for providing the necessary resources to the central region project teams to deliver on-time, on-budget, and on-spec projects. Since joining Alston Construction in 2014, Jayson has contributed to managing processes in the Chicago office while supporting other offices’ field teams.

The Chicago office recently hired Mike Llewellyn to be the new operations manager. He has accomplished over 22 years of experience in successfully operating construction management projects in the cold storage, industrial, and manufacturing sectors. Mike is responsible for directing and overseeing the daily management, supervision, coordination, and successful completion of projects.

Merriman Anderson Architects celebrates with Realty Capital Residential the breaking ground of luxury residential tower on Lake Grapevine

Merriman Anderson Architects (MAA) celebrates with Realty Capital Residential the groundbreaking of the 16-story luxury residential tower located at 3111 Sunset Boulevard on Lake Grapevine in Flower Mound, Texas. A ceremony was held on Wednesday, January 11 to celebrate the commencement of construction. The residential tower will consist of 207 one-, two- and three-bedroom units including penthouses and townhomes. 

Amenities for residents will include a golf simulator, billiards room, full-service bar, concierge, fitness center, valet, on-site structured parking for retail and residents, dog wash station, guest suites, and an elevated pool deck overlooking Lake Grapevine with a pool, spa and outdoor spaces to gather. 

The residential tower is part of the new 40-acre Lakeside Village resort community development. Lakeside Village is the final phase of the 160-acre Lakeside mixed-use project featuring an existing residential tower, hotels, lakefront restaurants, office space, retail shops, walking trails, and an outdoor performance venue. The new 3111 Sunset residential tower is adjacent to the new community lawn and provides luxury high-rise living with views of Lake Grapevine. 

Realty Capital Residential is the developer, and Archer Western is the contractor. MAA is the architect for the project responsible for the design and documentation.

The building is projected to be complete in early 2025.

Texas-based LanCarte Commercial Real Estate announces major expansion into Dallas market, spearheaded by industry veteran

LanCarte Commercial Real Estate, a dynamic real estate company offering, brokerage services, commercial investments and property management, announced the addition of its Dallas office led by industry veteran, Bill de la Chapelle. Sarah LanCarte, founder and president of LanCarte Commercial, will continue to guide the overall vision and operation of the firm. With over 30 years of commercial brokerage experience, Bill and the LanCarte team will provide client-centered real estate solutions in Dallas Fort Worth and across the United States. The addition of a Dallas office continues the firm’s strategic growth across the state over the next 10 years. 

This strategic expansion positions LanCarte Commercial to provide creative solutions and proactive partnerships to its clients. With concern in the marketplace about rising interest rates, this may seem like an unlikely time for growth, however, according to Sarah LanCarte, “there’s no better time than now to invest and grow.”

“Our company was founded during a period of robust growth. I know there is no better fit to support LanCarte’s continued growth than Bill,” said LanCarte. She continued, “Working together over the years, I have seen Bill’s tenacious commitment to the genuine success of each client and his skillful ability to work collaboratively. Now, this will be an official partnership and we could not be more thrilled to welcome his expertise and experience to the LanCarte team. As we enter this expansion phase of our company, we know he will be a major asset. As part of our growing team, we are pleased to announce that Sharon Cramer will join LanCarte Commercial as VP. With over 30 years of industry experience, we know she will be a vital team member!” 

Launched in 2018, LanCarte Commercial continues to grow by prioritizing collaboration and partnership. The firm sees this model as crucial, leading with the knowledge that clients require, complemented by guidance and expertise in all market conditions. Building upon Sarah’s innovative team-based approach, de la Chapelle brings a depth of technical knowledge and client relationships to the team that will support LanCarte in strategic planning for this expansion phase. 

When asked about his goals for LanCarte Commercial’s future, Bill de la Chapelle said, “The LanCarte team seeks to provide our clients with thorough and thoughtful service proven by profitable results. I am thankful for the opportunity to join Sarah and further support LanCarte’s clients and prospects. Texas is the number one growth state in the country; the Dallas-Fort Worth metropolitan area is the largest in the state and one of the fastest growing areas in the country. Although the economy suggests that storm clouds are ahead, the greatest outcomes emerge from times of the greatest adversity. The best is yet to come.”

Bill de la Chapelle Recent Milestone Projects: 

  • Supported a state-to-state relocation that achieved more than $20 million in cumulative savings over the course of the project. 
  • Acquired a highly competitive property in Austin, Texas, against six competitive bids by structuring a compelling offer and presentation that stood out among the rest.
  • Secured an ideal property for an Arlington startup business whose day-to-day operations were challenging for institutional property owners and municipalities.

Hartman announces several new lease transactions

Hartman INCOME REIT MANAGEMENT, Inc. has announced a handful of recent lease transactions:

  • Revelry Goods, Inc. Renewed 2,517 square feet at 5151 Mitchelldale in Houston, TX. Justin Harrity represented the landlord, Hartman Income REIT. 
  • 2M Research Services, LLC renewed 6,278 square feet at 1521 N. Cooper Street in Arlington, TX. Allison Fannin represented the landlord, Hartman Income REIT. 

Healthy Australian cuisine concept restaurant coming to Stream Realty Partners’ The QUAD project in Uptown Dallas

A community-focused eatery based in Australian café culture will open its first Dallas restaurant at Stream Realty Partners’ office development, The QUAD, in Uptown Dallas.

Two Hands will occupy one of the five free-standing retail spaces surrounding the 12-story, Class AA office tower at 2699 Howell St. in the heart of Uptown. The casual restaurant will offer indoor and outdoor dining with a menu of fusion share plates and well-traveled classics for breakfast, lunch, and dinner. A comprehensive coffee program and full-service bar also will be featured. 

Stream, a national real estate services, development, and investment firm headquartered in Dallas, is developing the 345,425-square-foot, office building and surrounding 18,500-square-foot retail area heralded as the dawning of “A Different Dallas”. The project plays a key role in the rebirth of the Quadrangle, which once was Dallas’ first mixed-use development dating back to 1966.

Two Hands, which launched in 2014, currently has six locations in some of the country’s most upscale, chic neighborhoods including NoHo, Nolita, Williamsburg, and Tribeca in New York City, the Gulch in Nashville, and SoCo in Austin. Two additional restaurants in Denver and Franklin, Tennessee, are expected in 2023. An opening date for The QUAD eatery is planned for Q1 of 2024.

Two Hands is the first retail lease signed at The QUAD, with additional restaurant announcements anticipated by mid-2023. Chicago Title was the first office tenant to commit to the project in September 2022. The largest title insurer and provider of real estate-related products and services in the world will occupy 20,000 square feet in the office tower. The firm has officed at 2828 Routh St., an existing building on the same site as The QUAD, for more than a decade.

In addition to a workplace and next-generation retail space, The QUAD will boast amenities including a penthouse tenant lounge and conference center, full-service fitness studio with floor-to-ceiling windows, dedicated underground parking, bike valet, and plenty of outdoor seating and green space. The building will feature a cutting-edge user functionality and technological foundation with smart elements such as a proprietary centralized building operations app, hands-free “wave” doors, and hospital-grade air filtration systems.

The QUAD is owned and managed by Stream’s Investment Management Platform, which leverages expertise from the firm’s 14 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively manages four discretionary commingled funds, in addition to several joint ventures, and wholly owned assets totaling 31 investments of 21 million square feet and approximately $3.1 billion in assets under management.

Stream Vice President Ryan Evanich and Senior Associate Marissa Parkin lease the office space at The QUAD.

Marcus & Millichap arranges metroplex hotel sale and financing

Marcus & Millichap announced the sale and financing of Courtyard by Marriott Dallas Grand Prairie, a four-story, 120-room hotel in Grand Prairie, Texas.

“Growing occupancy and average daily room rates throughout the Metroplex are drawing the attention of hospitality investors,” said Chris Gomes, senior managing director investments in Marcus & Millichap’s Dallas office. “The area’s strong economic growth, underscored by the large quantity of corporate move-ins during the pandemic, indicate a coming increase in business travel that bodes well for the hospitality industry overall.”

Gomes and Allan Miller in Marcus & Millichap’s Austin office represented the seller, Anderson Companies and procured the buyer, MCR Hotels. Pete Fehlman, managing director with Marcus & Millichap Capital Corporation in Dallas arranged acquisition financing.

The hotel is located between Dallas and Fort Worth along President George Bush Turnpike, near the intersection of Interstate 20 and Highway 161, 15 miles from DFW International Airport. Businesses nearby include Dallas Naval Air Station, Lockheed Martin Corp., Poly-America, Bell Textron Inc., Lear Grand Prairie, Forterra Pipe & Precast, and Flex-N-Gate Texas. Year-round entertainment, shopping and leisure are provided by Lone Star Park, Six Flags Over Texas, the Grand Prairie Premium Mall, and Ripley’s Believe It or Not. Constructed in 2021, the hotel’s guest amenities include an on-site restaurant, outdoor swimming pool, over 2,000 square feet of meeting space, a fitness center, and laundry facility.