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Coldwell Banker Commercial Alliance opens Fort Worth office
Coldwell Banker Commercial Alliance DFW cut the ribbon in April on a new office in Fort Worth.
“We are looking forward to more day-to-day exposure with an office closer to the Central Business District and the synergies that define Fort Worth in the commercial real estate marketplace,” said Theron Bryant, principal of CBCA DFW and the new office’s leader, commenting in a news release.
The new office is located on the third floor of University Centre I at 1300 S. University Drive. Joining Bryant in the rollout is Casey Tounget, associate, and Lindsay Davoudian, administrative assistant.
The full-service brokerage’s headquarters will remain in Arlington, but managing principal Gary Walker said the firm has considered Fort Worth and Dallas for additional offices.
“With Theron’s experience and success in Fort Worth, it only made sense to open in that market first,” said Paul VanDevender, executive vice president of operations for CBCA’s corporate office in New York.
“We hope to ramp up to add quality agents in the Fort Worth office. At the same time, we will be focused on building a Dallas operation as well,” VanDevender said.
Burleson retail center sold
to syndication partnership
The Burleson retail center at 1055 Southwest Wilshire Blvd. that features CATO Fashions, Perla Dental and other tenants ,has been sold to a retail LLC.
SPCP Group VI LLC sold the property to Bloomfield Frontline Burleson Retail LLC, a syndication partnership created by managing partners and promoters Steve Fithian of Sperry Van Ness/Visions Commercial and Thomas K. Wilson of Wilson Investment Properties.
Representing the seller was Clint Montgomery of Sperry Van Ness/Visions Commercial.
“With its location on Wilshire Boulevard and its proximity to Super Wal-Mart, this property is extremely attractive for both tenants and investors,” Montgomery said in a news release.
The 17,860-square-foot building was purchased through a real estate syndication set up by Fithian and Wilson. Similar to “crowd-funding,” real estate syndication allows investors to pool their money and purchase real estate, with each investor owning a percentage of shares.
“Because the Texas market is booming, it’s becoming more of a challenge for investors to individually find quality investments,” Fithian said.
“As a result, syndication investing is becoming popular because it enables an investor to participate in larger and higher-quality investments that they wouldn’t be able to participate in on their own.”
Fithian and Wilson are currently working on another syndication investment opportunity for a retail center in Forney.
Colleyville Downs acquired
by Indiana-based REIT
The Colleyville Downs retail development has been acquired by Kite Realty Group Trust in an off-market transaction.
Kite, a retail REIT based in Indianapolis, purchased the property from Centennial Real Estate Co.
Anchored by Whole Foods Market, Petco and Ace Hardware, the center is located on the southeast corner of Texas 26 and Glade Road.
“The Colleyville Downs acquisition is another example of our ability to source off-market opportunities and acquire first-class real estate in our core markets,” said chairman and CEO John Kite in a news release.
Royal Terrace apartments
in Euless sold
Royal Terrace apartments in Euless has sold, with Amar Patel snapping up the 120-unit property at 306 Martha St.
Serving as adviser and agent to Copperstream Investments LLC in the transaction were Greysteel associates Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss.
“Royal Terrace posed numerous challenges before it reached the closing table, but we were able to successfully navigate the waters to get it across the finish line,” Banerjee said in a news release.
The new owner, a local investment group, plans to make interior improvements and replace the roofs, Banerjee said.
Zier leases in Colleyville,
Build Ur Box in Carrollton
Zier Enterprises has leased 1,100 square feet at Tara Village retail center in Colleyville, and Build Ur Box Inc. has leased 1,680 square feet in an industrial building in Carrollton.
Clint Montgomery of Sperry Van Ness/Visions Commercial of Fort Worth represented the property owners in both transactions.
Tara Village, 1101 Cheek Sparger Road, sits on 4.56 acres just north of Airport Freeway and east of Brown Trail.
The industrial space that Build Ur Box Inc. leased is located at 2910 Belmeade Drive between Midway Road and Marsh Lane.
“The leasing market in 2015 has started off very strong,” Montgomery said. “Building vacancies are decreasing, occupancies are increasing and rental rates are up.”
Medical, office buildings available
in Keller, Grapevine, Bedford
A Keller medical investment property is for sale. Champions DFW Commercial Realty LLC is listing the 7,413-square-foot building at 1674 Keller Parkway.
The property features three dental lease tenants who fill the entire space.
“There are many reasons to be enthusiastic about this medical investment listing,” said Jim Kelley, president-broker of Champions DFW, commenting in a news release.
“Not only is it a significantly sized property, but 100 percent of it is leased with three solid tenants. The purchaser will be coming into a hard-to-find ideal situation,” Kelley said.
Also for sale are Bedford and Grapevine office buildings. The Bedford property, at 2928 Blue Quail Lane, spans 5,900 square feet and sits on .75 acre. It features monument and building signage and is permitted for daycare use.
The Grapevine property, at 901 Wall St., spans 1,000 square feet. It includes monument signage and is ready for move-in.
Medical office building
going up in southwest FW
Fort Worth can expect new medical offices when a three-story medical office building opens along Harris Parkway in southwest Fort Worth.
Groundbreaking was held recently for the 23,256-square-foot structure perched on a hill and adjacent to a planned ambulatory surgical care and palliative care facility.
The building will be part of a 5.2-acre medical campus that will total 38,684 square feet, including the surgical care and palliative care facilities. Serving as project manager and developer is Castle Development Group of Keller, with X Contractors of Dallas serving as contractor.
Leases
Weltec Inc. has leased 10,800 square feet at Northern Crossing Business Park, building D, 3051 Northern Cross Blvd. in Fort Worth, according to Xceligent Inc. Donnie Rohde and Matt Carthey of Holt Lunsford–Fort Worth represented the landlord.
H&M has leased 10,579 square feet at The Palace Building, 401 Commerce St. in Fort Worth, according to Xceligent Inc. William Booker and Robert Gamblin of Sundance Square Management represented the landlord.
Title Source has leased 10,000 square feet at Hillwood Commons I in Fort Worth, according to Xceligent Inc. Representing the landlord was Steve Aldrich of Hillwood-AllianceTexas.
Tex-Air Delivery Inc. has leased 21,105 square feet at 1061 Texan Trail in Grapevine, according to Xceligent Inc. Representing the landlord was Gil Stroube of Lincoln Property Company-Dallas.
Poolquip has leased 15,000 square feet at 7431 Dogwood Park in Richland Hills, according to Xceligent Inc. Todd Hubbard and Michael Newsome of NAI Robert Lynn represented the landlord.
Cash & Pawn has leased 11,600 square feet at 1490 Southwest Wilshire Blvd. in Burleson, according to Xceligent Inc. Dawn Potthoff of Coldwell Banker Commercial NRT represented the landlord.
Choice Homecare has leased 1,740 square feet at 4501 Merlot Ave. in Grapevine, according to Xceligent Inc. The tenant was represented by Debra Perryman and LeAnn Brown of Silver Oak Commercial Realty. The landlord was represented by Russ Webb of Silver Oak Commercial Realty.
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