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Fort Worth's top CEOs honored at FWBP event

The Fort Worth Business Press announced its Top CEOs last night at its Top 100 event held at the Fort Worth Club.

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North Tarrant Express completion date moved up to October

Fort Worth-area commuters can expect the 13.3-mile North Tarrant Express to open in full operation in October, eight months ahead of the original schedule.

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FAA: Plano, Granbury family members dead in Central Texas plane crash

RANGER, Texas (AP) — Three family members have died in a small plane crash in rural Central Texas.

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35 Concerts moving to Sundance Square

35 Concerts LLC has announced plans to move offices to Sundance Square in downtown Fort Worth.

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ACH has 'buyer interest' for Summit property, plans to demolish Print Shop building

ACH Child and Family Services plans to demolish the historic Print Shop building on its Wichita Street campus and has confirmed buyer interest in its Summit Avenue property.

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Allstate Insurance Irving campus acquired

A. Lee Graham

Reporter

 An Irving office campus currently occupied by Allstate Insurance Co. is among three properties acquired this week by Cole Corporate Income Trust Inc.

The Irving campus comprises three interconnected three-story office buildings, one five-story office building and one single-story flex industrial building. Through a sale-leaseback transaction, Allstate will occupy the campus under a 12-year lease, plus renewal options.

In addition to the  458,338-square-foot Irving campus, Phoenix-based Cole also acquired The Men’s Warehouse corporate campus in Houston and the Harvard Vanguard Medical Associates office building in Boston.

“These high-quality assets exemplify CCIT’s investment criteria,” said Robert Micera, chief investment officer for office and industrial at Cole, commenting in a news release.

“Strategic properties with creditworthy corporate tenants, under long-term net leases, are our primary target. These properties are well-located in major MSAs [metropolitan statistical areas] and are mission-critical for the corporate tenants,” Micera said.

With the new transactions, Cole’s real-estate portfolio comprises 35 wholly owned properties in 17 states, totaling about 5.6 million square feet and with an aggregate purchase price totaling about $921.1 million.

Cole Real Estate Investments Inc., a real-estate investment trust, acquires and manages real estate assets leased long-term. As of March 31, 2013, it owned $7.7 billion of gross assets, which included 1,013 properties representing about 43 million square feet of commercial real estate in 48 states. More information is available at www.colereit.com.

 

lgraham@bizpress.net

 

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