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Residential land at Chisholm Trail Ranch purchased

Stratford Land, Legacy Capital Co. and the Walton Group of Cos. have snapped up 268 acres of residential land at Chisholm Trail Ranch in Fort Worth.

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Fort Worth to consider adopting 15-year Cavile Place redevelopment plan

The 300-unit Cavile Place housing project in Southeast Fort Worth would be razed and replaced in phases, with a significant number of the units redistributed into the neighborhood.

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Fort Worth payment processor acquired by pension plan group

Fort Worth-based First American Payment Systems has been acquired by an investor group led by the Ontario Teachers’ Pension Plan (Teachers’), with participation of members of the First American management team.

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Texas adds 19,100 nonfarm jobs in June; Fort Worth-Arlington jobless rate 5.3 percent

Seven of Texas' 11 major industry segments added jobs in June, the Texas Workforce Commission reported.

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Fort Worth council members approve Cavile Place redevelopment plan

The vote kicks off what officials say will be a 10-15-year implementation.

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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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