The Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.
Travis Gardens in Fort Worth sold Travis Gardens, a 77-unit apartment complex in Fort Worth, has been sold to a private investor. Marketing the property at 2901 Travis Ave. on behalf of the local seller, NSpire Assets, was Al Silva, senior director in Marcus & Millichap Real Estate Investment Services’ Fort Worth office. The buyer also was secured by Silva. The new owner, whose identity was not disclosed, assumed an existing Fannie Mae loan to acquire the property.
SERENE HOMES AT TRAILS OF FOSSIL CREEK Serene Homes is the latest homebuilder offering housing options at The Trails of Fossil Creek in Fort Worth. Privately owned Serene Homes, based in Southlake, specializes in what it calls “smart” homebuilding, allowing computer-aided custom design options. The homebuilder recently broke ground at the master-planned Trails of Fossil Creek, 404 Sandy Creek Drive. It offers five phases, with more than 500 residential lots already delivered in its first two phases. Serene Homes’ properties will be priced from the $140,000s to $160,000 and offer one- and two-story floor plans with three and four bedrooms, ranging from 1,464 square feet to 2,926 square feet. About 467 home lots are available on more than 93 acres. More information about Serene Homes is available at www.serenehomes.com. MIXED-USE DEVELOPMENT DUE ON LANCASTER JQ civil and structural engineering firm has confirmed its role in the Pinnacle Place development, a 157,000-square-foot mixed-use property along Lancaster Avenue between Throckmorton and Jennings streets in Fort Worth. When complete, the site will offer 32,000 square feet of retail space on the ground level, with four levels of residential space above totaling 125,000 square feet. Also planned is a five-and-a-half level, 455-space parking garage with pedestrian bridge to the residences. Design architect is Ibanez Architecture, with JHP Architecture as residential architect and Bennett Benner Partners the architect for the parking garage. Lancaster Corridor Redevelopment LLC is developing the property.
MAGNOLIA CHEESE TO REOPEN AS MARKET Magnolia Cheese Co. in Fort Worth has closed but will reopen as a neighborhood market in early 2015. The Near Southside eatery at 1251 W. Magnolia Ave. shuttered its doors in November but will welcome customers as the Magnolia Market & Cheese Co. “My original vision for a small local cheese shop blossomed into a great neighborhood restaurant for the past 23 months,” said owner Elizabeth Northern. The market will have small lease spaces for local vendors, similar to a farmer’s market. Northern Real Estate Group will retain its adjoining space, with Magnolia keeping its 1,350-square-foot space. Discussions are underway for including locally grown produce, artisan bread and baked goods, fresh meat, honey, coffee and tea. Magnolia Cheese Co. will remain a foundation for the market, offering cheese boards as well as wine by the bottle and glass with a few small tables for diners. The market is currently scheduled to be open six days a week and closed on Monday. More information is available at www.magnoliacheese.com.
SALES Riverbend Industrial Partners Ltd. has sold an 112,473-square-foot industrial building to 2525 Handley Ltd. at 2525 Handley Ederville Road in Richland Hills. Representing the seller in the transaction were Jeff Givens and Tracy Georges of Transwestern. Glen E. Capital LLC has sold a 92,144-square-foot industrial building at 5012-5050 Rondo Dr. in Fort Worth to System Beauty LLC. Representing the buyer was Todd Hawpe of Transwestern. Motor Speedway Partners Ltd. has sold 3.35 acres to Dhruv Hotels LP at Raceway Drive-Texas Speedway Centre. Representing the seller were Matt Bilardi and Lester Day of Transwestern. New Barn LLC and Old Fort Worth Redevelopment have sold .59 acres to Hatfield Properties LP at 1209 and 1215 St. Louis Ave. and 1200, 1204 and 1212 Galveston Ave. in Fort Worth. Representing the seller was Grant Huff of Transwestern. Casskee LLC has purchased 7,215 square feet for an undisclosed price at 6117 Elizabeth Road in Fort Worth, according to Xceligent Inc. The seller, G & B Investments, was represented by Troy Morgan and Brian Cyphers of Structure Commercial. LEASES Clem Enterprises has leased a 10,000-square-foot industrial space at 6550 Wuliger Way in North Richland Hills from Hal Allen Family LP. Frank Jester with Transwestern represented the landlord. Integra Funding Solutions LLC has leased 966 square feet of office space at 6300 Ridglea Place in Fort Worth. Representing the tenant were Jeff Givens and Tracy Georges of Transwestern. Guardian Force Security Service Inc. has leased 3,280 square feet of office space at Northstar Plaza II, 8713 Airport Freeway in North Richland Hills. Representing the tenant were Jeff Givens and Tracy Georges of Transwestern. Day Fast Parts Logistics has leased 9,500 square feet at Port America Place 16, 752 Port America Place in Grapevine, according to Xceligent Inc. The tenant was represented by Mark Graybill of Lee & Associates-Dallas. Representing the landlord were Oscar Couto and Gil Stroube of Lincoln Property Co.-Dallas. Rig Tool Products has leased 10,800 square feet at Riverbend, Building 24, 7501-7529 Pebble Drive in Fort Worth, according to Xceligent Inc. Representing the landlord in the transaction was George Jennings of Holt Lunsford-Fort Worth. Aladdin Rentals & Events has leased 6,623 square feet at Parkwood Village Center, 113-217 E. Harwood Road in Hurst, according to Xceligent Inc. Representing the tenant and landlord in the transaction were Jake Burns and Eric Deuillet of Structure Commercial. Metro PCS has leased 1,500 square feet at Eastchase Shopping Center, 8651-8657 John T. White Road in Fort Worth, according to Xceligent Inc. Representing the tenant and the landlord in the transaction was Troy Morgan of Structure Commercial. The Art of Barbering has leased 3,217 square feet at Emerald Square, 2985 Highway 360 in Grand Prairie, according to Xceligent Inc. The tenant was represented by Troy Morgan of Structure Commercial. Representing the landlord was Bo Avery of TriMarsh Properties. Winner Chapel International has leased 3,974 square feet at Woodlands Business Center, 2001 108th St. in Grand Prairie, according to Xceligent Inc. Representing the landlord in the transaction were David Dunn and Dan Morris of Sperry Van Ness/Dunn Commercial LP-Dunn Commercial. Prospect Airport Services has leased 3,377 square feet at Regency Office Center, 1331-1441 Airport Freeway in Euless, according to Xceligent Inc. Representing the landlord was Ellen Brooks of Dal-Worth Management and Realty Inc. Two Sisters has leased 2,619 square feet at Shady Oaks Shopping Center, 401-463 W. Bedford Euless Road in Hurst, according to Xceligent Inc. Representing the landlord in the transaction was Norman Hoppenstein of Hoppenstein Properties Inc. Vixon Vapors has leased 2,100 square feet at The Shoppes at Deer Creek in Crowley, according to Xceligent Inc. Representing the landlord was Jack Gibbons of The Tabani Group Inc. Send real estate news to lgraham@bizpress.net