Macfarlan Reassigns Two Industrial Projects

DALLAS-Macfarlan Real Estate Investment Management of Dallas has replaced the leasing teams for 288,235 sf in two suburban industrial projects on the outskirts of Dallas.

An Insignia/ESG team in Dallas gets the two-building, 141,735-sf Crosby/35 Business Park at 1225 E. Crosby Rd. in Carrollton while Dallas-based Holt Cos. has been handed the 146,500-sf, six-building Valley View Tech Center I and II at 12801 N. Stemmons Freeway in Farmers Branch. Wilcox Realty Group had held both assignments and was one of three firms on the short list for the new contracts.

Macfarlan and Wilcox executives say the parting is amicable. In recent months, the Wilcox team boosted the tenant count at both industrial developments. “We are very excited to have achieved 97% occupancy at Crosby 35 and near 90% occupancy at Valley View Tech Center, given recent market conditions,” said Ron Bullock, vice president of Wilcox Realty Group.”We continue to have an excellent relationship with MacFarlan.”

Macfarlan’s Helen Rivero, director of asset management, tells GlobeSt.com that the change came about because “we wanted new energy.” The reassignment is the final step of a portfolio assessment that has been ongoing for more than a year. “In a trying market, you want to reassess each leasing assignment and make sure you obtain maximum energy from the leasing team,” she said. “It’s not a negative against Wilcox. The relationship with Wilcox remains very positive.”

Rivero confirmed hat Wilcox, which held the assignments for about two years, was on the short list of the firms interviewed for the contracts. Macfarlan manages the properties.