A West 7th property has been acquired by a Fort Worth real estate investor planning a dining and entertainment venue for the location.
The newly sold 2818 Morton St. property features a vacant, two-story office building. The 8,060-square-foot structure sits on a 13,000-square-foot lot.
But where the office structure now stands, Allan Meyer envisions a multi-concept venue featuring indoor, outdoor and rooftop amenities.
“For me, this was a real estate grab,” said Meyer, chairman of locally based May Group International and managing partner of RR Morton LLC, the buyer of record.
“There are not many properties that come on the market in West 7th,” said Meyer, commenting in a news release.
Though not a restaurateur, Meyer has industry contacts that be believes are able to create and launch a destination concept featuring eclectic dining space, craft cocktail lounge, rooftop bar and one of the West 7th development’s largest green spaces for live music and other outdoor functions.
Richard Allen of Dallas-based Café Build is spearheading design efforts and construction of the as-yet unnamed venue. Construction is expected to begin in the near future and reach completion by early 2017.
“This is one of the last pieces of real estate in West 7th that hasn’t been redeveloped or sold for redevelopment. This is a good opportunity for upside in a real estate investment,” says Theron Bryant, principal of Coldwell Banker Commercial Alliance DFW and head of its Fort Worth office, commenting in a news release. Bryant represented the buyer.