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Thursday, October 29, 2020
Banking Transwestern transactions show downtown leasing as strong

Transwestern transactions show downtown leasing as strong

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

A. Lee Graham

Reporter

Downtown Fort Worth leasing remains strong on news that Transwestern has completed almost 40,000 square feet of new lease transactions since June, according to the real-estate firm.

According to Leland Prowse, principal, and Alex Bryant, vice president, Transwestern’s Fort Worth office represented tenants in the following transactions:

• MD America Energy LLC expanded and signed a lease extension at D.R. Horton Tower, 301 Commerce St.        

• Cantex Inc. signed a long-term lease extension at D.R. Horton Tower.

• Balfour Beatty Construction Services U.S. renewed its lease at The Burk Burnett Building, 400 Main St.

“These transactions represent the overall business community’s belief in the long-term sustainability of the live-work-play environment that has been created in Fort Worth’s [Central Business District],” Bryant said in a news release.

Year-to-date, the Class A office market in Fort Worth’s Central Business District has reached a positive net absorption of 62,650 square feet, compared to nearly 220,000 square feet of negative absorption in 2013, according to Transwestern. Meanwhile, the overall Class A vacancy rate rose from 12.1 percent in early 2013 to its current rate of 17.4 percent.

lgraham@bizpress.net

 

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