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Real Estate Real Deals: Office, retail, restaurant for Magnolia

Real Deals: Office, retail, restaurant for Magnolia

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Office, retail, restaurant for Magnolia

A vacant lot in the 1400 block of Magnolia Avenue is being turned into an 18,000-square-foot development including commercial and residential uses. Ground was broken on Feb. 13 for the project on the Near Southside.

The development will consist of two buildings and parking, separated by an outdoor paseo including a garden and patio. The Magnolia Avenue location of Salsa Limon restaurant will anchor the site. Also in the development will be Panther City Vinyl, a new vintage-record store that will also offer new vinyl records.

Project developers are Hatfield Properties and Dodson Companies. Architects are Studio 97w and the contractor is Crimson Building Co. The project is expected to open by the end of the year.

Dak Hatfield, president of Hatfield Properties, said the plan is to have five or six lease spaces available for micro retailers, six condominiums and offices in the top stories of one of the buildings.

The site, at 1455 and 1465 Magnolia Ave., was once the proposed location for Citizen Theatre, an art house cinema being developed by Spiral Diner owners Amy McNutt and James Johnston.

IKEA PLANS STORE

IN NORTH FORT WORTH

The Swedish furniture store retailer IKEA has submitted a proposal to the City of Fort Worth for a 289,000-square-foot store on 27 acres at the southwest corner of Interstate 35W and North Tarrant Parkway. Pending approvals, construction could begin in the spring of 2018 and the store could open in the summer of 2019. Along with 500 construction jobs, the store would add about 250 IKEA employees.

“We are thrilled with our success in North Texas since opening our first store 11 years ago, so we are excited to propose a Fort Worth store to grow our Dallas-area reach,” said Lars Petersson, IKEA U.S. president, in a news release. “This proposed Fort Worth store would complement our Dallas-area presence in Frisco and soon in Grand Prairie by bringing the unique family-friendly shopping experience even closer to customers in the western part of the Metroplex.”

There are more than 390 IKEA stores in 48 countries, including 43 in the United States. In Texas, there are six including one that is set to open this year in Grand Prairie. A San Antonio-area store is set to open in 2019. IKEA has been included in rankings of “Best Companies to Work For” several times.

The company is also known for its low carbon footprint. In its announcement, it said it will “evaluate potential on-site power generation to complement its current U.S. renewable energy presence at nearly 90 percent of its U.S. locations.”

The home furnishings store was founded in 1943 in Sweden.

CRAFTWORK COMING

TO NEAR SOUTHSIDE

Craftwork Coffee Co. plans to open a second Fort Worth location in the Near Southside this spring. The coffee-and-co-working business will bring its signature specialty drinks and workspace concept to a new 1,850-square-foot space at 1121 W. Magnolia Ave., between METL and Heim Barbecue.

The space will be designed by 97w Studios and will feature a 36-seat coffee shop, outdoor seating, 14 dedicated desks, co-working space with 24/7 access, two call booths and a conference room.

Craftwork’s first location, on Camp Bowie Boulevard, opened in January 2016. The 35-member workspace is filled with a mixture of entrepreneurs, salespeople, designers, Realtors and photographers, who pay for all-inclusive workspace memberships that start at $200 per month. When the Magnolia location opens, all Craftwork members will gain access to both locations.

Co-founders Riley Kiltz and Collin Sansom are both residents of Fairmount, so the new space nearby makes sense to them.

“Living in Fairmount, we constantly meet people from the Near Southside who are starting new businesses,” Kiltz said. “From custom suit designers to brand storytellers, the spectrum is broad, but that’s what makes our district so compelling. We’re looking forward to seeing the mosaic of people that enter our doors.”

Craftwork was represented by Dana Quisenberry of Trinity Partners in the transaction, and the landlord was represented by Tyler Maner of Stream Realty.

LEASES

CEVA Freight Management has leased 129,500 square feet at Alliance Gateway 25, 4550 Liberty Way in Fort Worth. Todd Hubbard and Michael Newsome of NAI Robert Lynn represented the landlord.

Flat Rock Concrete has leased 16,175 square feet at 2220 Delante St. in Fort Worth. Brent Landfried of Mercer Co. represented the landlord.

Xtreme Wheels & Tire Distributors has leased 15,314 square feet at 1201 E. Avenue H in Grand Prairie. Michael Stanzel and Patrick Embry of NAI Robert Lynn represented the landlord.

Z4 Digital Color has leased 9,426 square feet at 2220 Delante St. in Fort Worth. Brent Landfried of Mercer Co. represented the landlord.

Painters USA Inc. has leased 8,170 square feet at 1340 Post & Paddock St. in Grand Prairie. Gil Stroube of Lincoln Property Co.-Dallas represented the landlord.

Chad Steban has leased 7,200 square feet at Beach-Conner Industrial Park, 2741-2749 Ludelle St. in Fort Worth. Carl Brown of SVN-Trinity Advisors represented the landlord.

Standpoint Promotions has leased 6,777 square feet at 3400 Bernie Anderson Ave. in Fort Worth. William Tinsley of Ellis & Tinsley represented the landlord.

Dock & Door Systems Inc. has leased 5,000 square feet at 1213-1219 E. Avenue J in Grand Prairie. Michael Spain and Clint Manning of Bradford Commercial Real Estate Services-GSW represented the landlord.

Ben Hogan Golf Equipment Co. has leased 5,000 square feet at 8910-8936 Oak Grove Road in Fort Worth. Ed Runyon of WFR Properties represented the landlord.

DSI Solutions Inc. has leased 3,792 square feet at 701 Highlander Blvd. in Arlington. Jason Brecheen of Swearingen Realty Group represented the tenant. Renee Efimoff of Coldwell Banker Commercial Advisors-DFW represented the landlord.

Anytime Fitness LLC has leased 1,800 square feet at Hall Johnson Center, 2350 Hall Johnson Road in Grapevine. David Levinson of The Retail Connection represented the landlord.

Carting Hearts For Children has leased 1,782 square feet at Western Place II, East Tower, 6000 Western Place in Fort Worth. Geoff Shelton of Holt Lunsford-Fort Worth represented the landlord.

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


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