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Real Deals: Chisholm Trail Ranch development underway

Fort Worth Business obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.

Chisholm Trail Ranch development underway

The Walton Group of Companies has broken ground on Chisholm Trail Ranch, a 600-acre master-planned community of residential and commercial properties in far south Fort Worth.

Walton, a privately held, multinational real estate investment and development group, announced the project earlier this year and broke ground in October.

The Arizona-based firm, with offices in Texas, touts the development as the first such project along the $1.4 billion Chisholm Trail Parkway, which opened in May 2014.

Construction financing is provided by Southwest Bank of Fort Worth.

Chisholm Trail Ranch, at Chisholm Trail Parkway and McPherson Boulevard, is located in the Crowley Independent School District and will be served by a new elementary school, which will be part of the first phase of the development. Chisholm Trail Ranch will include about 1,100 single-family homes.

Chisholm Trail Ranch will be part of a hike-and-bike trail system linking existing parks and school sites throughout the area. It also features Fort Worth’s new 75-acre Chisholm Trail Park, anchored by the new Chisholm Trail Community Center, all adjacent to existing and new development along McPherson Boulevard.

“The groundbreaking marks the beginning of an important new community at Chisholm Trail Ranch,” said District 6 Councilman Jungus Jordan, commenting in a news release.

“Having worked closely with Walton on this project, I believe it’s a strong step in the right direction toward spurring economic development and growth in this part of Fort Worth,” Jordan said.

Walton will oversee the horizontal infrastructure improvements serving the single-family lots. The land was purchased from Stratford Land and the real estate investment firm Legacy Capital, who will be executing the commercial component of the project.

39 NEW LUXURY HOMES

PLANNED FOR SOUTHLAKE

Southlake Glen offers Northeast Tarrant County a new upscale option when the residential community on more than 9.7 acres is complete.

Pre-sales for the 39 homes will begin in late fall, according to project developer Toll Brothers. When the homes will be ready for occupation was not announced.

Prices start in the mid-$600,000s. The homes will be within walking distance of Carroll Middle School in Southlake. The development will feature hiking and biking trails, mature trees, common park areas, three ponds and a boardwalk.

More information about Southlake Glen and buying options is available at 855-289-8656 or at www.SouthlakeGlen.com.

PRIM CONSTRUCTION HIRED

FOR 2 ONCOR PROJECTS

Oncor has hired PRIM Construction LLC of Fort Worth to renovate a transportation building used to serve the utility provider’s equipment at its North Dallas service center.

The renovation includes new LED lighting, epoxy flooring, interior paint and a mechanical equipment upgrade.

In addition, Oncor has contracted with PRIM and Corgan Architects to build a new 23,000-square-foot, LEED-certified building at its North Dallas service center. The building will be constructed of structural masonry with a masonry façade. Many of the interior features will feature LEED-approved systems, according to Oncor.

Construction was to begin in late October and is scheduled to finish next spring.

PRIM Construction LLC is a commercial construction firm that has completed more than 350,000 square feet of LEED construction in North Texas. LEED, or Leadership in Energy and Environmental Design, is a green building certification program recognizing best-in-class building practices.

Oncor operates the largest electricity distribution and transmission system in Texas with more than 3.2 million delivery points and 120,000 miles of distribution and transmission lines.

BASSETT FURNITURE PLANS

GRAND PRAIRIE FACILITY

Bassett Furniture has announced plans for a 80,000-square-foot upholstery manufacturing facility in Grand Prairie.

Set to open in early 2016, the facility will be located in Wildlife Park and will produce sofas, loveseats, sectionals and chairs. It will also house a home-delivery hub for Zenith Global Logistics.

“Our upholstery sales have experienced double digit growth for the last several years,” said Robert H. Spilman Jr., president and CEO of Bassett Furniture, commenting in a news release.

Bassett plans to open the facility in February, with employment reaching 70 or more within 20 months, according to the company.

News of the Grand Prairie facility follows two years of deep investments by the firm in its U.S. domestic manufacturing facilities. Last year, it opened a new wood facility in its hometown of Bassett, Va., to produce handmade dining furniture. The company also expanded its table plant in Martinsville, Va., and made capital improvements to its upholstery manufacturing complex in Newton, N.C.

SALES

Dollar General, a 9,014-square-foot, net-leased property in the town of Aubrey, has been sold, according to Marcus & Millichap Real Estate Investment Services. Terms of the sale were not released.

Blake Burnett of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, an out-of-state individual/personal trust. The buyer, a local limited liability company, also was procured by Burnett. The transaction closed in fewer than 45 days.

“Once I exposed the asset to Marcus & Millichap’s nationwide network of investors, we received multiple offers from across the country, Texas and the local area,” Burnett said in a news release.

“The sale of the Dollar General in Aubrey exemplifies the strength of the market and the demand for product in these outlying, growing areas,” Burnett said.

Dollar General is located at 990 South U.S. Highway 377. At the time of listing, Dollar General was operating under a new 10-year double-net lease.

LEASES

Meso Maya Comida Y Copas has leased 3,518 square feet at Trinity Commons, 3000-3100 S. Hulen St. in Fort Worth. Michael Watson of Brixmor-Houston represented the landlord.

DR Grant has leased 4,811 square feet at Magnolia Medical Tower, 1307 Eighth Ave. in Fort Worth. Jason Manske and Banks Newton of Lincoln Harris CSG-Dallas represented the landlord.

CityDoc Urgent Care has leased 4,292 square feet at The Corners Shopping Center, 3000-3024 W. Seventh St. in Fort Worth. Melissa Kulig and Mack House of The Westover Group represented the landlord.

Nancs Design LLC has leased 2,847 square feet at Stratum Centre At Fossil Creek, 5450 Stratum Drive in Fort Worth. The tenant was represented by Sammy Abuhamra of Mercer Co. Gil Stroube of Lincoln Property Co.-Dallas represented the landlord.

Tagged Again has leased 2,747 square feet at Lone Star Plaza, 6500-6510 Camp Bowie Blvd. in Fort Worth. Easley Waggoner and Michael Dearden of Venture Commercial-DFW represented the landlord.

Diamond Minds has leased 2,179 square feet at Alliance Town Center, 9401-9595 Sage Meadow Trail in Fort Worth. Troy Morgan of Structure Commercial represented the landlord and tenant.

Sprint has leased 2,000 square feet at Eastchase Market, 8560 East Freeway in Fort Worth. Paul Sheppard of DDR Corp.-Dallas/Fort Worth represented the landlord.

Wildcat Holsters has leased 6,500 square feet at 2750 N. Main St. in Mansfield. Kip Niles of KNK represented the landlord.

KRK has leased 5,738 square feet at Arlington Medical Plaza, 801 W. Road to Six Flags St. in Arlington. Jim Turano of Henry S. Miller Brokerage LLC-Dallas represented the landlord.

La Blue Casa has leased 2,145 square feet at UTA-The Shops at College Park, 100 UTA Blvd. in Arlington. Chris Corbin and Bob Moore of Venture Commercial-DFW represented the landlord.

Make It Happen Floors has leased 1,857 square feet at Ensenada Square, 301-333 S. Bowen Road in Arlington. Britton Lankford and Kerry Assa of Bright Realty Brokerage LLC represented the landlord.

A Sophisticated Affair has leased 3,160 square feet at 2205 W. Division St., Building A in Arlington. Loni Harris of Dodson Development represented the landlord.

Efficient Logistics & Freight Services has leased 25,304 square feet at Prologis Hanover, 801 Hanover Drive in Grapevine. Gil Stroube and Oscar Couto of Lincoln Property Co.-Dallas represented the landlord.

Bankers Life Insurance Co. has leased 9,564 square feet at Northstar II, 8713 Airport Freeway in North Richland Hills. David Cason of Holt Lunsford-Fort Worth represented the landlord.

Distribute North America has leased 4,875 square feet at Prologis Port America 14, 750 Port America Place in Grapevine. Sammy Abuhamra of Mercer Co. represented the landlord.

Taste of Asia has leased 2,395 square feet at Boswell Towne Center, 1165-1209 N. Saginaw Blvd. in Saginaw. Jeffrey Warwick of Weingarten Realty Investors-Houston represented the landlord.

Lone Star Financial Associates has leased 1,926 square feet at Ridgewood Square, 1237 Southridge Court in Hurst. Melinda Payne of Commercial Property Maintenance LLC represented the landlord.

Mathnasium has leased 1,542 square feet at Mayfair Village, 500-754 Grapevine Highway in Hurst. Rob Murphy of Phillips Edison & Co.-Cincinnati represented the landlord.

Rebuilders Specialty Inc. has leased 2,700 square feet at Post & Paddock Place, Building 5, 1000 Post and Paddock St. in Grand Prairie. The tenant was represented by Jim Ferris of Bradford Commercial Real Estate Services-GSW Office. Corby Hodgkiss of Mercer Co. represented the landlord.

Send real estate news to lgraham@bizpress.net

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