Sales

ClearWorth Capital has purchased the Renaissance Parc apartments at the Dallas North Tollway and Verde Valley in Far North Dallas. The 294-unit apartment community is adjacent to the Village on the Parkway shopping center. Jay Gunn with Berkadia brokered the sale with the help of Chris Mendenhall at ClearWorth Capital. Nathan Stone and Brad Mason with Berkadia provided financing. ClearWorth Capital is an independent real estate investment firm that owns more than a dozen properties in Texas.

I-20 Industrial LP purchased 14.6 acres from HCH Farms Ltd. of Dallas at 34980 LBJ Freeway in Dallas. HSM Equity Partners will build a 15,540-square-foot facility for OTR Fleet Service, a provider of maintenance services for commercial vehicles. OTR is relocating from Forney. Huntley Luna and Nick Robinson at Henry S. Miller Brokerage brokered the sale with Tom Clarke with Transwestern. Mark Smith Sr. of HSM Equity Partners will develop the facility.

Khop Management has purchased 1426 N Riverfront Blvd., a 4,265 square foot building in the Dallas Design District. The building will be the home of Kirk Hopper Fine Art and was sold by Quadrant Investment Properties. Matthew Otte of Whitebox Real Estate brokered the sale. The lease was arranged by Christy Thelen, Trey Smith, Ward Eastman and Lauren Napper of Cushman & Wakefield.

An investor has purchased the Bocks Board Packaging building, a 69,750-square-foot industrial property at 1520 East Wintergreen Road in Hutchins. Adam Abushagur and Sam Martin of Marcus & Millichap brokered the sale.

An investor has acquired a freestanding 2,866-square-foot Burger King on a 29,980-square-foot site located at 2215 W. University Drive in Denton. Matthew Rosenfeld with Weitzman handled negotiations.

A Dallas investor purchased the Bonita Gardens Apartments, a two-story 138-unit rental community located at 3410 Fordham Road in Dallas. Mark Allen and Courtland Charles of Colliers International

No business can ever say with certainty whether or not it will be safe from the threat of political violence or terrorism (PVT). Even seemingly innocuous businesses can unexpectedly find themselves on the receiving end of violent protests.

Cameron Cupido, CEO, Reinsurance Solutions Intermediary Services

Political violence

This was certainly the case in September 2020 when Clicks became the target of protest action. A racist advert on the chain’s website sparked violent protests by Economic Freedom Front (EFF) members that ultimately saw seven branches damaged and more than 400 stores closed.

As a health and beauty retailer, Clicks was an unlikely candidate for political violence. However, this incident highlighted just how quickly events can escalate, affecting even those entities deemed ‘safe’ from such violence.

A business doesn’t even have to be the intended target of protest or terrorist action for it to suffer loss or damage as a result of these events. Just look at the service delivery protests in South Africa, Mozambique and Zimbabwe in recent years. Physical damages, stock losses and business interruption in these cases amounted to millions. When citizens go on the rampage, no business is safe. This underscores the importance of PVT cover for all businesses, no matter their perceived risk.

Terrorism

While service delivery marches, wage strikes and politically-fuelled protests have become commonplace in Southern Africa, terrorism has been less of a threat. In fact, Southern Africa is regarded by experts as the least terrorism-affected geographical region in Africa.

Despite this assertion, terrorist activity has been steadily increasing in the northern reaches of Mozambique since 2017 in a violent extremist insurgency that has claimed more than 1,400 lives. This year, including during September 2020, these events have escalated dramatically. Concerns have been raised about this activity spilling over into neighbouring South Africa, especially if