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Tuesday, December 1, 2020
Real Estate Real Deals: Retail center to be razed, site redeveloped

Real Deals: Retail center to be razed, site redeveloped

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OLD GRAND PRAIRIE RETAIL CENTER

TO BE RAZED, SITE REDEVELOPED

The sale of a 68,900-square-foot retail center built in 1966

in Grand Prairie starts the transition to replace the old buildings with a new five-story gated apartment complex and smaller retail centers. The development sits on 5.928 acres on the northwest corner of South Carrier Parkway at West Pioneer Parkway and will be done in four phases.

Phase I required Chuck Precopia with Client Based Properties Inc. to facilitate the sale from OM Grand Shopping LLC to the David Nicklas Organ Donor Awareness Foundation Inc.

Phase II will be the removal of the 60,900-square-foot “big box” building, the 8,000-square-foot “strip,” existing pavement and signage.

Phase III includes construction of a Class A, podium style, urban, high-tech apartment development with more than 200 units.

Phase IV will be two approximately 6,000-square-foot retail strip centers facing West Pioneer Parkway to be leased by Precopia.

Construction is scheduled to start by the end of the year.

HYATT PLACE OPENING AT ALLIANCE

Hyatt Place Fort Worth/Alliance Town Center is expected to open a five-story, 130-room hotel with 1,762 square feet of flexible, high-tech meeting/function space in September.

“Fort Worth is a world-class city and key business and leisure destination, and Hyatt Place Fort Worth/Alliance Town Center will add a wonderful new option for business and leisure travelers visiting the Alliance area,” General Manager Erin Alamillo said in a news release.

The hotel will be located six miles from Alliance Airport and a short drive from the Texas Motor Speedway, Tanger Outlets and the Fort Worth Stockyards.

LEASES

Thomas Grafton and George Jennings of Holt Lunsford Commercial represented the landlord, TX Circle 182 LC, in these transactions at Village Creek Business Park in Fort Worth:

HRK Enterprises renewed a lease of 10,000 square feet.

Gillingham Enterprises renewed a lease of 7,500 square feet.

Vivint Inc. leased 15,000 square feet. Brycen Woodley with Woodley Real Estate represented the tenant.

Francisco Villasenor renewed a lease of 3,000 square feet at Berry Business Center in Fort Worth. George Jennings and Thomas Grafton of Holt Lunsford Commercial represented the landlord, TX Circle 182, LLC.

David Cason and Geoff Shelton of Holt Lunsford Commercial represented the landlord, PBIII-SOP LP, in these leases at Summit Office Park in Fort Worth:

Renaissance Insurance leased 2,139 square feet. David Tuttle of KW Commercial represented the tenant.

Annette Tofan renewed a lease of 1,340 square feet. Rick Hopwood of Hopwood Commercial represented the tenant.

Hunt, Guillot & Associates renewed a lease of 1,770 square feet at 6300 Ridglea Place in Fort Worth. Jake Neal and Matt Carthey of Holt Lunsford Commercial represented the tenant. John Grace with CSE Comm. Real Estate represented the landlord, GNL Ridglea LLC.

Send real deals to Robert Francis at rfrancis@bizpress.net.


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