AC Hotel room example
Along with the AC Hotel by Marriott headed to Downtown Fort Worth, expect a number of new hotels in the Dallas-Fort Worth area this year.
A new report by JLL ranks the DFW area No. 3 nationally for 2019 hotel construction.
According to the report, there were 7,454 new rooms set for construction at the beginning of 2019, which represents 5 percent of the nationwide hotels under construction.
The JLL report also expects that DFW will be the fourth busiest market for retail construction in the country, with 3.3 million square feet being built at the start of the year. Houston, Northerm, New Jersey and Long Island, respectively, are the only areas ahead of DFW.
Transwestern takes industrial spot
Transwestern Investment Group (TIG) on Feb. 12 announces it has acquired a 1.2 million-square-foot industrial property in north Fort Worth. TIG acquired the property from DHL Supply Chain.
“This acquisition provides us the opportunity to take advantage of the current market dynamics of North Fort Worth and the Alliance submarket as it continues to show growth and remains one of the top industrial submarkets in the DFW metro,” said Greg Laczkowski, managing director at TIG. “Additionally, this investment has initiated a relationship with DHL that may unearth future opportunities within its sophisticated logistics network.”
Constructed in December 2018, the property consists of two cross-dock buildings: a 705,955-square-foot building at 1753 Chaplin Drive and a 494,041-square-foot building at 15453 Wolff Crossing.
Each building offers a 36-foot clear height. Located near the intersection of Farm-to-Market Route 156 and Old Blue Mound Road, the property has convenient access to Interstate 35 West and U.S. Route 287 via Texas State Highway 114. It is approximately 20 miles from Dallas Fort Worth International Airport.
JLL’s Dustin Volz represented the seller in the transaction. CBRE’s Nathan Lawrence is providing leasing services.
Irving complex
JPI started construction on Feb. 19 on a nine-acre development in their backyard of Irving, adjacent to the University of Dallas. The community will feature 282 apartment homes and premier amenities, with close proximity to the Urban Center of Las Colinas.
“This is our 10th community in the Irving-Las Colinas submarket,” said Matt Brendel, divisional president and managing partner at JPI. “Over the years, we have developed a deep knowledge of this submarket. We understand the residents and their lifestyle – where they work, how they spend leisure time, and what is most important to them in choosing a home. Jefferson Texas Plaza is going to provide an unrivaled living experience to meet their needs.”
The community will feature a resort-style pool, premium parking in private garages, a state-of-the-art fitness and yoga studio, a pedestrian trail directly connecting to the University of Dallas campus trail, a two-story clubhouse with a coffee bar and a spacious dog park.
Individual apartment homes at Jefferson Texas Plaza will feature luxury amenities including granite countertops, 10-foot ceilings, high-end appliance packages, large balconies and spacious patios with private yards on select ground-floor units.
Jefferson Texas Plaza will serve as a hub for residents who work in the Las Colinas Urban Center – conveniently located off of Loop 12, less than three miles from retail and restaurants as well as attractions including an Alamo Drafthouse and the Toyota Music Factory
SALE
STRIVE, a commercial real estate investment sales firm based in Dallas, has announced the sale of Forest Hills Village in the Fort Worth suburb of Forest Hills. The 100-percent-occupied, 69,651-square-foot strip is anchored by Foodland Markets grocery store.
Jennifer Pierson of STRIVE exclusively represented the seller, a California investor, and cooperated with an outside broker to secure the buyer, a local Dallas-area investor. Additional terms of the sale were not disclosed.
LEASES
Joseph Hamilton renewed his lease of 1,000 square feet at Northeast Business Center, Fort Worth, 76182. George Jennings and Thomas Grafton of Holt Lunsford Commercial represented the landlord, TX Circle 182.
STAT Overnight Delivery has leased 820 square feet at Summit Office park, Fort Worth 76102. Geoff Shelton and David Cason of Holt Lunsford Commercial represented the landlord, PBIII SOP Inc. Deborah Wells with Glacier Realty represented the tenant.
Creative Solutions has renewed and expanded their lease of 12,030 square feet at Overton Centre, Fort Worth. Matt Carthey and Jake Neal of Holt Lunsford Commercial represented the landlord, FLDR/TLC Overton Centre LP.
Paradise Settlement Services renewed its lease of 1,400 square feet at 3201 E. Pioneer Parkway, Arlington 76010. Keaton Duhon of Holt Lunsford Commercial represented the landlord, 303 Associates.
Bollinger Solutions Group renewed its lease of 2,700 square feet at Riverbend Business Park, Fort Worth 76118. Donnie Rohde and Keaton Duhon of Holt Lunsford Commercial represented the landlord, Riverbend Properties.
Kyzer/Emp. LLC leased an additional 6,000 square feet at Riverbend Business Park, Fort Worth 76118. Donnie Rohde and Keaton Duhon of Holt Lunsford Commercial represented the landlord, Riverbend Properties.
Brio Direct Marketing leased an additional 6,000 square feet at Riverbend Business Park, Fort Worth 76118. Donnie Rohde and Keaton Duhon of Holt Lunsford Commercial represented the landlord, Riverbend Properties.
Dynamic Systems renewed its lease of 3,000 square feet at Riverbend Business Park, Fort Worth 76118. Donnie Rohde and Keaton Duhon of Holt Lunsford Commercial represented the landlord, Riverbend Properties.
Todd Marcucci renewed his lease of 3,600 square feet at Riverbend Business Park, Fort Worth 76118. Donnie Rohde and Keaton Duhon of Holt Lunsford Commercial represented the landlord, Riverbend Properties.