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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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Allen office building acquired for $15.15 M

 

Gladstone Commercial Corp. announced July 15 it purchased a two-story, 115,200 square foot, two-tenant office building located in Allen for $15.15 million. Acquisition financing was provided by Synovus Bank simultaneously with the acquisition.


"This acquisition highlights our strategic decision to expand our acquisition focus beyond single tenant properties to multi-tenant properties with a strong anchor tenant," said Buzz Cooper, senior managing director of the company.


Gladstone Commercial is a real estate investment trust (REIT) based in McLean, Va. that invests in and owns net leased industrial, commercial and retail real property and selectively makes long-term industrial and commercial mortgage loans. The company currently owns 85 properties.

ric Mackey, Gary Carr, John Alvarado and Robert Hill of CBRE arranged the transaction.

“Investors were attracted to this asset due to its exceptional location within the Allen-McKinney office submarket, along the frontage road of US-75 at Bethany Drive. Allen’s supply-constrained office market features direct asking rents that have increased for the past six consecutive quarters,” said Eric Mackey, senior vice president of CBRE. “Allen Office Center is also home to two quality, credit-worthy, publicly traded companies – Frontier Communications Corporation, Allen’s fifth largest employer; and Micron Technology.”

Built in 1998, this two-story, high-tech office building features a spacious lobby, high-quality finishes and 10-foot ceiling heights. Additionally, the building’s 57,600 square foot floorplates and high parking ratio provide higher building efficiencies and lower fixed costs.
 


www.gladstonecompanies.com
 

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