Omaha-based Goldenrod Companies, a commercial real estate development and investment management firm, on Jan. 6 announced plans for a mixed-use development at the northwest corner of Foch Street and West 7th Street.
The Van Zandt at 2816 W. 7th St. will break ground in the first quarter of 2022 as the first speculative office development in Fort Worth since 2017, according to a news release. The project will include approximately 99,400 square feet of Class AA office space, 147 multi-family units, and 11,600 square feet of street-facing retail and dining space.
The Van Zandt will include an outdoor deck with a fitness center, pool, and indoor/outdoor meeting spaces and lounge areas.
“We are excited to be a part of the Fort Worth community and believe the city’s pro-business environment and robust population growth will continue to attract corporate users who see the benefits of living and working in the West 7th District,” said Brandon Schubert, Director of Investments at Goldenrod. “We believe The Van Zandt project will continue the transformation of the West 7th District into a unique live, work, and play environment.”
Goldenrod has selected Stream Realty Partners to provide office leasing services for The Van Zandt.
“The steep upward trajectory of Fort Worth’s population is outpacing new office deliveries,” said Chris Doggett, Executive Vice President at Stream Fort Worth. “The Van Zandt was born as a result of Goldenrod’s recognition of the demand for additional best-in-class office space in Fort Worth as the market continues to experience a flight to quality to retain existing talent and attract the best new talent. The Van Zandt will be located in arguably the best development site in Fort Worth, and we believe it will capture the attention of corporations that are considering relocating to the DFW market.”
Through the end of the third quarter of 2021, Fort Worth saw over 1.6 million square feet of positive net absorption in Class A office space. Comparing this to the 160,000 square feet of negative net absorption the city experienced in Class B office space further proves the city’s need for additional quality office space, according to a news release from Stream.
“The Fort Worth office market is poised for incredible growth,” said Dan Harris, Stream’s National Managing Director for Office Tenant Representation. “The city has emerged as a realistic option for some of our larger clients who are looking to expand their operations or relocate to the Metroplex. We have seen the demand for more projects like The Van Zandt come to market. With the delivery of additional Class A office developments, Fort Worth will become a major contender for corporate relocations and has the opportunity to be the next area in DFW to experience an explosion in office development.”
Stream’s Doggett and Cullen Donohue, Senior Associate, will oversee office leasing for The Van Zandt.
Goldenrod is a commercial real estate investment firm specializing in the development and acquisition of assets throughout the Central United States. Led by 12-year retired NFL veteran Zach Wiegert, Goldenrod has acquired or developed more than $3 billion in assets over the past 26 years. Goldenrod currently manages three closed-end funds with more than $450 million of invested capital and $2.1 billion of assets under management. Headquartered in Omaha, Goldenrod has regional offices in Dallas, Atlanta, and Fort Collins, Colorado. Among the projects the company has been involved with are the $90 million multi-use Baxter Arena, the home for the University of Nebraska Omaha’s hockey and volleyball programs.
Architects on the project are Holland Basham Architects of Omaha.