Real Deals: Texas Society of Architects award for local firmJune 24, 2013
New distribution center in Arlington
Schwarz-Hanson Architects received a 2013 Design Award from the Texas Society of Architects for the renovation of 714 Main in downtown Fort Worth. The 24-story high-rise, owned and occupied by XTO Energy Corp., was built in 1921. It was restored to its original design, which had been altered multiple times through the decades. The façade and ground floor entry lobby can be seen by the public and offers a glimpse into this grand era of Fort Worth’s history. The contractor on the project was KHK Group. Consulting engineers were Baird, Hampton Brown Inc. (MEP) and Technistructures (structural).
New distribution facility in
Exeter Property Group has broken ground on Arlington Commerce Center Building C, a state-of-the-art 821,502-square-foot distribution facility in Arlington. CBRE has been awarded the leasing assignment on the speculative project, which will be delivered in January 2014.
“We feel the time is right. Ten deals over 400,000 square feet have been completed along the I-20 corridor in the past two years with little new supply. Users have gravitated to this corridor because of an easy connectivity to highways for regional distribution, proximity to the UP Intermodal Hub and strong labor pool,” said Barney Sinclair, principal and investment officer for the Southwest Region of Exeter Property Group.
“Our Arlington location is especially unique because it is in the middle of an established 100 million-square-foot industrial base with the residential and retail amenities to attract a diverse labor force,” he said.
The building, located at 4900 Sherry St., has access to interstates 20, 30, 35 and 45, and State Highway 360. Building features include 36-foot clear height, 200 dock doors and potential for 175 trailer parking spots.
“We are very excited that the city of Arlington will have the benefit of this new industrial space. Over 800,000 square feet of quality development opportunity will allow us to be more competitive in the national and global marketplace, especially to larger industrial tenants looking to make Arlington their home,” said Donald E. Jakeway, Arlington Deputy City Manager.
Dave Anderson with CBRE will represent the owner, Exeter Property Group, in leasing the building.
Where to buy groceries in Fort Worth? We’ve added several new grocery aisles in the past few years from new competitors such as Trader Joe’s and Aldi. Next up to swing for the Metroplex grocery market will be WinCo Foods of Boise, Idaho.
The Fort Worth stores will be near Sycamore School Road and Crowley Road in southwest Fort Worth. Another is planned in McKinney. The two stores will be about 90,000 square feet. WinCo is employee owned and has 87 stores and four distribution centers in Washington, Idaho, Nevada, California, Oregon, Utah and Arizona.
Somewhat like Aldi, WinCo customers bag their own groceries. The stores usually feature a bakery, a large bulk foods section and a deli, and most are open 24 hours.
Coppell industrial center sold
An affiliate of Lincoln Property Co. has purchased Coppell Commerce Center and Coppell Business Center.
The two industrial facilities comprise six Class A buildings, which total 771,720 square feet and combined were 91 percent leased at the time of sale.
CBRE represented the seller, a global investment manager, on the sale and worked on behalf of Dallas-based Lincoln Advisory Group, an affiliated entity of Lincoln Property Co. to arrange two permanent loans through Allstate and Bank of America to finance the acquisition.
“Two differing acquisition strategies for the portfolio assets necessitated two unique loan structures and both Allstate and Bank of America stepped up to meet those needs. All parties provided for a clean, painless execution,” said Matt Ballard, vice president in CBRE’s Debt and Equity Finance group.
The six Class A, single-story, multi-tenant industrial buildings were constructed between 1997 and 2000 are located in Coppell within the Dallas/Fort Worth International Airport submarket, which is the most institutionally owned submarket in Metroplex. Coppell Business Center is located at 1405, 1421, 1441 and 1461 South Belt Line Road and Coppell Commerce Center is located at 1221 South Belt Line Road and 1234 Lakeshore Road.
Jack Fraker, Josh McArtor, Jonathan Bryan and Heather McClain Venegoni marketed and sold the two industrial parks on behalf of the seller. The team of Scott Lewis, Matt Ballard and Patrick Benoist of CBRE’s Dallas office originated and secured the financing for the transaction on behalf of the borrower, Lincoln Advisory Group.
Taking the LEED
GSBS Architects has added LEED architect Eric Brooks to its staff. Brooks is a licensed architect with more than 13 years of experience in design and project management. He is also a LEED accredited professional. Brooks will manage architecture projects, as well as contribute to the marketing efforts, increasing the company’s client base and implementing new business development strategies. He was formerly an assistant vice president at CMA, where he managed notable projects, including: Beck’s Prime Restaurants, the Gateway Shopping Center in Burleson, Hanratty Place Apartments as well as numerous Chipotle and Potbelly Restaurants. He is also a mentor in the ACE Mentor Program, which introduces area high school students to various career opportunities in the architecture and engineering industry.
Send real estate news to email@example.com