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Real Estate Real Deals: North Texas lands indoor skydiving facility

Real Deals: North Texas lands indoor skydiving facility

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

An indoor skydiving facility is set to open later this year at the Stonebriar Centre Mall in Frisco. Austin-based iFly Holdings will build the facility, to be known as iFly Dallas, the 27th indoor skydiving facility for the company. Earlier this year, the city of Frisco entered into an agreement to give incentives to iFly in return for constructing a facility of at least 8,500 square feet. The company received a property tax rebate for 10 years and a sales tax rebate for five years. The Frisco Economic Development Corp. also entered into a performance agreement to help defray infrastructure costs. “As Frisco continues to grow, it becomes more and more of a destination city,” said Marla Roe, executive director of the Frisco Convention and Visitors Bureau. “iFly is the kind of unique attraction that will complement the varied sports, shopping and dining experiences Frisco already offers.” This will be iFly’s second Texas location, with the other location in Austin. The company also has locations in other countries, including Canada, the United Kingdom, Spain, Russia, Malaysia, Singapore, the United Arab Emirates and Brazil.

Eastchase CBRE’s National Retail Investment Group is marketing Eastchase Market, a 265,097-square-foot retail power center in Fort Worth, on behalf of Columbus Pacific of Santa Monica, Calif. Eastchase Market is 95.3 percent occupied by tenants including Ross, Marshall’s, Spec’s, Office Depot, Dollar Tree, Burke’s and AMC. CBRE Senior Vice President Chris Cozby, Vice President Chris Gerard and Vice President Kevin Holland are representing the sellers.

RPAI signs Lululemon Retail Properties of America Inc. (RPAI) has entered into two lease agreements with Lululemon Athletica Inc. at Southlake Town Square in Southlake and The Shops at Legacy in Plano. The yoga-inspired apparel retailer will occupy 3,243 square feet at Town Square and 3,180 square feet at Legacy. RPAI has signed and renewed small shop leases totaling 114,680 square feet at Town Square and 76,909 square feet at Legacy in the last 12 months.

Topping out The Yates/Vendigm Joint Venture recently celebrated the topping out of the Tarrant County Civil Courts building. This downtown project consists of an asymmetrical scheme with a public plaza and six levels, including 14 courtrooms covering 235,000 square feet. It mirrors the architecture of other historical buildings downtown, using Texas and regional materials, natural stone and brick. Signature downtown Fort Worth architectural elements such as bay windows and ornamental metalwork are also being incorporated. The limestone angels from the original Civil Courts building were salvaged to be featured on the front façade of the new building, which is a concrete, mostly pan-deck structure that includes seven elevated slabs including the roof and a below-grade basement level. The original baseline schedule allowed for 54 weeks from Notice-to-Proceed (NTP) to building top-out, including excavation, piles, soil retention, below grade MEP and the concrete structure. The roof slab top-out was achieved 10 days ahead of schedule, and exactly one year from NTP. Substantial completion of the Civil Courts Building is scheduled for December 2014 and the group is pursuing LEED Silver Certification. Retail UCR Investment Sales, a division of UCR, has closed the sale of three retail properties in Texas totaling 33,573 square feet. • Hall Johnson Center: 21,853-square-foot shopping center located on Hall Johnson Road between Texas 121 and Heritage Avenue in Grapevine. Notable tenants include Anytime Fitness, Subway and Papa Murphy’s Pizza; surrounding tenants include Tom Thumb, CVS and Starbucks. • Starbucks Retail Center: 5,720-square-foot retail center with Menchie’s Frozen Yogurt, The Nail Spot and Starbucks occupying a drive-thru end cap. The property is located at Northpark Drive and Glade Drive adjacent to Kingwood Park High School in Humble. • Mellow Mushroom: 6,000-square-foot single-tenant restaurant leased to Mellow Mushroom on a long-term lease located one block north of the University of Texas at Arlington on North Center Street, adjacent to downtown, the multimillion dollar Center Street Station and recently renovated Arlington Music Hall. Tommy Tucker with UCR Investment Sales represented the sellers in all three transactions.

Send real estate news to Robert Francis at rfrancis@bizpress.net  

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