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Real Deals: Renovated Arboretum Village nabs TEXO award

🕐 5 min read

The Fort Worth Business Press obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.

Arboretum Village has won industry accolades from TEXO, the commercial contractors association, which chose the Arlington retail center for its Merit Award.

The 80,000-square-foot retail center was honored in a category for properties valued at between $5 million and $10 million.

The property, built in the late 1960s, underwent recent renovation and reconstruction. Bob Moore Construction Inc. was general contractor for the center, owned by Lincoln Property Co.

Work included demolishing the building’s front 80 feet, stripping the interior, restoring and refinishing the remaining walls and rebuilding and finishing the front wall. The parking lot was removed and replaced with 250,000 square feet of new parking space and drive lanes around the building.

The new plaza includes three anchor stores: The Fresh Market, PetSmart and Ace Hardware, along with other retail outlets.

“We are very proud that Arboretum Village was recognized with this award,” said Kyle Whitesell, executive vice president of Bob Moore Construction, commenting in a news release.

The trophy for the TEXO Merit Award will be presented in December at TEXO’s winter banquet.

TEXO is a Dallas-based commercial contractors association affiliated with the Associated Builders and Contractors and the Associated General Contractors of America.

Gaedeke Group unveils plans

for One Legacy West in Plano

Gaedeke Group LLC has unveiled renderings for One Legacy West, the first of two office buildings planned for its 11-acre site at the southeast corner of Sam Rayburn Tollway and Legacy Drive in west Plano.

The Dallas-based investment firm’s 14-story project will be the first multitenant office space to open in Legacy West, a 240-acre mixed-use urban development spearheaded by Karahan Companies, KDC and Columbus Realty Partners.

Gaedeke Group plans to break ground on the tower this summer and complete the project in the fourth quarter of 2016.

“The diversity of the Legacy area gives us a unique opportunity to design and develop a concept that will compete on national and international platforms,” said CEO Sabine Gaedeke Stener, commenting in a news release.

One Legacy West will offer 327,856 square feet with a six-level parking structure. Tenant amenities will include an outdoor terrace with see-through fireplaces and seating areas, conference center, fitness center and electric car charging stations.

One Legacy West was designed by Morrison Dilworth + Walls of Dallas. Austin Commercial was general contractor, Andres Construction was construction manager and Belle Firma was landscape architect.

Gaedeke acquired the land this year in an off-market transaction arranged by its president, Glenn Lickstein. The acreage is directly across the street from Toyota Corp.’s $350 million North American headquarters.

The greater Legacy area, encompassing 2,665 acres, boasts 14 Fortune 1000 corporations, each with more than 1,000 employees, as well as retail and dining destinations and residential communities.

Forney retail center sold;

Fort Worth firm to manage it

A retail center in Forney has been sold to Bloomfield Frontline Forney Commercial Retail LLC, a syndication partnership set up by managing partners and promoters Steve Fithian of Sperry Van Ness-Visions Commercial and Thomas K. Wilson of Wilson Investment Properties.

The property is just east of downtown Dallas, on 3.53 acres along the westbound U.S. 80 frontage road just before Pinson Road (FM 740.) It was sold by Forney Group Ltd. Sean M. Byrne of the Byrne Co. represented the seller and Fithian represented the buyer. Fort Worth-based Sperry Van Ness-Visions Commercial will manage the center.

Phase I, at 104 E. U.S. 80, was built in 2006. Phase II, at 108 E. U.S. 80, was built in 2008. Tenants include 20/20 Sight, Time Out Sports Cafe, Merle Norman Cosmetics, Peak Physical Therapy, Angels Care Home Health, My Spa, H&R Block, Conaway Homes and Forney Family Dentistry.

Sales

Cowtown Cycle Party LLC has purchased 5,200 square feet of land at 129 W. Leuda St. in Fort Worth for its new headquarters. Will Northern of Northern Realty Group represented the buyer.

Churchloan.com LLC and Herring Bank, acting as trustee, have sold a former Food Lion grocery store at 1020 E. Pleasant Run Road in DeSoto to Turning Point Church of God. Representing the seller was Gene J. Livens with Service Realty Inc. Mark Mordecai represented the buyer.

Leases

Menlo Logistics has leased 494,990 square feet at Centreport, 14900 Frye Road in Fort Worth, according to Xceligent Inc. The tenant was represented by John Lancaster and Steve Shields of NAI Robert Lynn. Representing the landlord was Cannon Green of Stream Realty Partners LP-Dallas.

Gypsy Scoops has leased 1,307 square feet at 2509 Race St. in Fort Worth for its first retail location. Will Northern of Northern Realty Group represented the landlord. Karen Holcomb of Northern Realty Group represented the tenant.

3-Tree Yoga has leased 1,680 square feet at 618 S. Jennings St. in Fort Worth to expand its existing studio and teacher training. Will Northern of Northern Realty Group represented the tenant.

Dollamur Sport Surfaces has leased 23,000 square feet at 1734 E. El Paso St. in Fort Worth, according to Xceligent Inc. Ryan Wood of Conti Warehouses represented the landlord.

Sherwin Williams has leased 11,200 square feet at Riverbend Tech Center, building 37, 7433-7445 Pebble Drive in Fort Worth, according to Xceligent Inc. Jeff Givens and Tracy Georges of Transwestern-Fort Worth represented the landlord.

Pilkington North America has leased 2,000 square feet at Riverbend Business Park, building 22, 7601-7621 Pebble Drive in Fort Worth, according to Xceligent Inc. George Jennings and Donnie Rohde of Holt Lunsford-Fort Worth represented the landlord.

Painting With A Twist has leased 2,065 square feet at Matlock Center, 2851 Matlock Road in Mansfield, according to Xceligent Inc. Bob Moore and Chris Corbin of Venture Commercial-DFW represented the tenant. Bob Kent of Kent Realty represented the landlord.

Norco Industries Inc. has leased 20,160 square feet at 4605 Old Denton Road in Haltom City, according to Xceligent Inc. Todd Hubbard and Michael Newsome of NAI Robert Lynn represented the landlord.

Savvy Shopper has leased 10,000 square feet at 3426-3442 Dalworth St. in Arlington, according to Xceligent Inc. NAI Robert Lynn represented the tenant. Phillip Rosenfeld and Matt Thompson of Colliers International (USA)-Dallas represented the landlord.

Crown Trophy has leased 5,200 square feet at Woodbridge Plaza, 420 Grapevine Highway in Hurst, according to Xceligent Inc. Richard Polishuk and Samantha Orer of Henry S. Miller Brokerage LLC-Dallas represented the landlord.

Send real estate news to lgraham@bizpress.net

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