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Trademark closes on 63-acre Waterside site in Fort Worth

Construction begins Oct. 20 on the development, to be anchored by a Whole Foods Market.

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UPDATE: $215M hotel, indoor ski project planned for Grand Prairie

Officials in Grand Prairie are expected later today to announce a $215 million project that will include a Hard Rock Hotel and an indoor ski facility.

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Two Fort Worth council members propose temporary single-family moratorium around TCU

The moratorium would apply to new permits for single-family homes around TCU, and give the city time to figure out what to do with a controversial proposed overlay in several neighborhoods around the university.

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Landscape architect behind several TCU landmarks acquired

The Dallas design firm behind several Texas Christian University projects, as well as Globe Life Park in Arlington and AT&T Stadium, has been acquired by Rvi Planning + Landscape Architecture.

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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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