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Real Estate Real Deals: Zoning Change for new subdivision

Real Deals: Zoning Change for new subdivision

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ZONING CHANGE APPROVED

FOR NEW SUBDIVISION

The Fort Worth City Council voted March 5 to zone the 12400-12600 blocks of Oak Grove Road South in southeast Fort Worth as single-family. It previously was unzoned. Mentone Partners LLC, which asked for the zoning designation, is planning to use the property, located just east of Oak Grove Road South and south of Seven Oaks Subdivision, for a single-family subdivision composed of 226 lots. It is an expansion of the adjacent subdivision.

Crockett Row to add restaurant-bar STIRR

STIRR is coming to Crockett Row at West 7th later this year.

STIRR, described as a “trendy, yet approachable neighborhood restaurant and bar,” will open at 3028 Crockett St. on a date to be announced in coming months.

Well-known for its weekend brunch, STIRR’s most popular menu items include the giant cinnamon roll, the croissandwich and banana nut, pineapple or mixed berry-stuffed French toast.

“Crockett Row is thrilled to welcome STIRR to Fort Worth,” said Monica Bermea, marketing director of Crockett Row. “STIRR’s fun vibe and menu of delicious dishes and drinks will be a great addition for Fort Worth locals and visitors to enjoy.”

The cocktail bar and restaurant has a location in Dallas’ Deep Ellum neighborhood.

CO-WORK WITH THE COWBOYS

If you just can’t get enough of the Dallas Cowboys, now you can work out with them.

Well, kinda, sorta.

You can apply for membership beginning March 6 to co-working space at Formation, the Dallas Cowboys organization’s latest business endeavor at The Star in Frisco. A limited number of office spaces will open in early summer.

“Formation is a dynamic workspace and experience where members will enjoy elevated professional resources and be able to leverage the Cowboys home field advantage for their individual business success,” the organization said in a news release.

Formation was inspired by the Dallas Cowboys’ headquarters, which opened in 2016 at The Star in Frisco.

“By combining the sophisticated aesthetic, influential network of our membership, and one-of-a-kind access to business expertise from the Cowboys front office, I believe we are creating an atmosphere that can allow entrepreneurs and executives to reach new heights within their business,” said Jerry Jones Jr., Dallas Cowboys executive vice president and chief sales and marketing officer.

Now, says a news release, “The Star in Frisco will create an exclusive community of passionate business professionals to encourage innovation and foster relationship-building,” where “members can now work the Cowboys way and achieve championship level business success in their respective fields.”

At least you won’t have to block 300-plus pound defensive players.

LEWISVILLE ISD SELLING

251 ACRES AT 11 SITES

The Lewisville Independent School District is selling 11 parcels totaling 251 acres it deems surplus in some of the fastest-growing suburbs in the Dallas-Fort Worth area, including Carrollton, The Colony, Lewisville, Flower Mound and Highland Village.

The sites range from about 3.5 acres to 80 acres and are being sold individually, in groups or as an entire portfolio. Most are undeveloped, vacant parcels at infill locations in established neighborhoods and districts. Two parcels have building improvements, including the 23,000-square-foot former Special Services Building at 400 W. Main St. in downtown Lewisville.

Sixty-two acres are located in Flower Mound.

“Lewisville ISD is recognized for its dedication to resource stewardship and being fiscally conservative with taxpayer dollars,” Superintendent Kevin Rogers said. “The district purchased most of these properties to prepare for anticipated growth. When it became apparent market conditions had changed and the properties were no longer needed, the district made the decision to sell the properties.

“Because bond funds were used to purchase these properties, any profits from the sale of the properties must go back into the district’s bond funds. LISD will be able to utilize the funds for bond-related projects.”

Cushman & Wakefield’s Maureen Kelly Cooper, Chris Harden, Ryan Duffie and Michael Thomas will market the portfolio.

“We anticipate strong interest from developers based on the school district, location to amenities such as Lake Lewisville and Lake Grapevine, and quick access to major freeways and Fortune 1000 corporate offices,” Harden said.

HIGH-SPEED TRAIN CITED

AS A TOP PROJECT FOR 2019

Texas Central’s proposed Texas high-speed train has been named among the top global infrastructure projects by infrastructure advocacy group CG/LA in its 2019 Strategic 100 Global Infrastructure Report. On the national level, CG/LA ranked the rail line connecting Houston and the Dallas area as one of America’s most important projects.

Designed to identify projects with the most potential opportunity in the coming year, the CG/LA reports select those with widespread benefits and strategic importance in 30 targeted counties.

“The Texas train is a transformational project that is generating attention and excitement among infrastructure experts who recognize it as a catalyst for creating jobs, boosting the economy and providing a much-needed transportation choice,” said Texas Central CEO Carlos Aguilar.

Texas Central has brought on board several industry leaders: international railway company Renfe is the train’s operating partner; multinational firm Salini Impregilo, operating in the U.S. market with The Lane Construction Corp., is leading the civil construction consortium that will build the train; and Bechtel, with operational headquarters in Houston, is on Texas Central’s project management services team.

In addition to high-speed rail travel between the fourth and fifth largest economies in the United States, the project is estimated to create 10,000 direct jobs for each year of construction and to support 1,500 full-time jobs when operational.

Last year, CG/LA recognized the Texas train in its Strategic 100 North American Infrastructure Report, calling it a crucial option “in advancing public and business interests.”

The 200-mph train is planned to link the Dallas-Fort Worth area with Houston in 90 minutes, with a midway stop in the Brazos Valley, with its 80,000 college students primarily at nearby Texas A&M University. As Texas adds 1,200 people a day, the train is designed to help relieve congestion and serve the 50,000 supercommuters now making the Houston-North Texas trip regularly.

Other U.S. projects cited in the latest report include the Detroit Capital Improvement Plan, the Purple Line Extension in Los Angeles and the New England Clean Energy Connect.

SALE

Bill McGee of McGee Electrical Services Inc. of Grand Prairie bought three buildings totaling about 10,000 square feet at 310 Rogers Road in Irving. Lane Kommer of Henry S. Miller Brokerage represented the seller, SJ Irving Property LLC.

LEASES

Greystone Servicing Corp. signed a 7,987-square-foot lease renewal and expansion in Urban Towers at 222 W. Las Colinas Blvd. in Irving. John Fancher and Matthew Schendle of Cushman & Wakefield represented the landlord, PCPI UT Owner. Todd Noonan with Stream Realty represented the tenant.

DK Group 2008 signed a 5,566-square-foot lease expansion of the Genghis Grill Headquarters in Springwood II at 8200 Springwood Drive in Irving, bringing the total leased space to 7,415 square feet. Cribb Altman and Jason Dodson of Cushman & Wakefield represented the tenant. The landlord, PS Business Parks LP, was self-represented.

Exportek signed a 41,840-square-foot lease in Prologis Park 121, Building 5B at 410 N. Freeport Parkway in Coppell. Adam Curran of Cushman & Wakefield represented the tenant. Nathan Lawrence of CBRE represented the landlord, Prologis.

Case Paper renewed a 25,145-square-foot lease at 2555 114th St. in Grand Prairie. David Eseke and Craig Ruoff of Cushman & Wakefield represented the tenant. Corby Hodgkiss of Mercer Co. represented the landlord, Michigan Texas Corp.

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

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