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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Ski Grand Prairie? TCU, UTA grad helping bring snow to Metroplex

For Levi Davis last week may have been a career peak, in more ways than one.

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GE rises most in year with equipment order increases, including at Fort Worth locomotive unit

NEW YORK — General Electric Co. beat analysts' profit estimates in the third quarter as Chief Executive Officer Jeffrey Immelt squeezed more costs from the manufacturing units.

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Waters nominated for architect award

Texas Rangers pitcher Joe Nathan catches a pitch at the Grand Slam Home launch on June 11.

The American Institute of Architects in Los Angeles has released this year’s nominees for the Restaurant Design People’s Choice Awards, and a restaurant in Fort Worth is in the mix.
The interior design firm for Jon Bonnell’s new seafood restaurant, Waters, is up for an award. Los Angeles-based Preen Inc. is the firm up for the award. A jury including architect George Kelley, writer and editor Margot Dougherty and restaurateur Warner Ebbink selected the nine finalists for the restaurant design category. Winners will be announced shortly.

No. 3
Baylor Regional Medical Center at Grapevine became the third largest BHCS facility, based on licensed patient beds, when the hospital opened its new $90 million patient tower on June 10.
Now surpassed only by Baylor University Medical Center at Dallas and Baylor All Saints Medical Center at Fort Worth, Baylor Grapevine’s new patient tower adds 40 beds, bringing total bed numbers to 313, with space to add 68 beds as needed.
Other features:
• New Level III Neonatal Intensive Care Unit (NICU) moves to the second floor of the patient tower. The area’s design uses a pod concept to allow caregivers and families more privacy than typically found in open NICU design. Another feature is the five private NICU rooms for critically ill infants.
• Dedicated Cardiovascular Center uses a universal bed concept that allows a patient to stay in the same room during hospitalization instead of moving to different clinical areas as clinical care level changes.
• Expanded radiology department provides services such as MRI, CT, ultrasound, nuclear medicine, interventional radiology and diagnostic radiology in one centralized location on the first floor of the patient tower.
• The emergency department has space to add nine new emergency department beds; surgical suite can add four new operating rooms.
The price tag on the expansion is between $85 million and $90 million, according to Steven R. Newton, west region president, Baylor Health Care System. The hospital announced this latest expansion in the fall of 2011. HDR was the architect for the project and MEDCO Construction was the general contractor.
“Our goal is to continue to bring quality health care to Northeast Tarrant and southern Denton counties,” said Newton. “Area residents want access to specialized care in their community. Our expansion is part of providing that level of care.”

Goin’ home
Homewood Suites by Hilton has opened a 112-suite hotel in Fort Worth known as Homewood Suites-Fort Worth Medical Center. Fort Worth Midtown Lodging Partners ES owns the property and Raymond Management Co. manages it. The new hotel is located at 2200 Charlie Ave. and features a fitness center, pool, sports court, 24-hour business center and meeting space.

In other news …
Centra Partners’ Jeff Day and Zac Thomas have been awarded the leasing assignment of 144,000 square feet in Tarrant County – the 102,000-square-foot Liberty Bank Building in North Richland Hills and the 42,000-square-foot Fountain View Building in Euless. … Marcus & Millichap Real Estate Investment Services has announced the sale of three Burger Kings in South Texas: a 4,424-square-foot net-leased property and a 3,351-square-foot net-leased property, both located in Weslaco, and a 4,330-square-foot net-leased property in San Benito, according to Bill G. Jordan, regional manager of the firm’s Fort Worth office. Philip Levy, an investment specialist in Marcus & Millichap’s Fort Worth office, had the exclusive listings to market the properties on behalf of the sellers, private investors. The buyer, Coastal King Ltd., also was secured and represented by Levy. These Burger King locations are all in high-traffic corridors near major retailers and restaurants. They are absolute net-leases with zero landlord responsibilities and have a franchisee guarantee from Hart Enterprises.

Home run
Cole Luxury Homes has teamed with local companies to build a 5,900-square-foot home in Colleyville to benefit the Texas Rangers Baseball Foundation. Local business leaders joined Texas Rangers representatives, city officials and area residents June 11 to break ground on the $1.3 million project.
“We are in the business of building dream homes,” said Chuck Cole, founder and president of Cole Luxury Homes. “I get great joy watching someone’s dream come true, but I also have a tremendous desire to give back to our community. Building the Grand Slam Home and then donating all the proceeds to the Texas Rangers Baseball Foundation is a great way to achieve both purposes.”
The Tudor-style two-story home at 6712 Westmont Drive will feature a wine gallery, a library with fireplace and bar, reading nook, outdoor living area with kitchen, large pantry and prep kitchen, a sunken courtyard, a master retreat, a bonus room, four bedrooms, 4.5 baths, and a four-car garage located on nearly a half acre.
Randy White Real Estate Services will represent the house, which will be sold upon its completion in early 2014. Cole Luxury Homes, Randy White Real Estate, First National Bank and Designs by K are donating their services for the house.
Park Place Dealerships is supporting this endeavor and initially connected Cole Luxury Homes with the Rangers foundation. “Chuck has been a great client of Park Place and he mentioned this project to us,” said Rob Sumner, director of marketing at Park Place Dealerships. “Knowing our company is very involved in the community, he asked our advice about charities he should consider as the beneficiary. We highly recommended the Texas Rangers Baseball Foundation because of their track record helping kids.”
Cole Luxury Homes was founded more than 60 years ago by J.C. Cole and is currently managed by Cole’s grandson, Chuck Cole.

EastGroup acquires distribution center
EastGroup Properties, based in Jackson, Miss., has acquired Northfield Distribution Center in Grapevine. The property consists of eight business distribution buildings containing a total of 788,000 square feet that were constructed from 1999 to 2008. EastGroup expects a total first year investment of about $70.7 million including capital improvements, leasing commissions and closing costs. It projects a first year annualized cash yield of mid-5 percent at a stabilized occupancy of 95 percent. The property is currently 100 percent leased to 31 tenants.

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

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