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Real Deals: Historic Summit building up for leaseNovember 8, 2013
A small business with big ambitions may find suitable accommodations just west of downtown.
That’s where the historic Yates-Ottman building between Seventh Street and Lancaster Avenue offers 1,352 square feet of office space for lease.
Built in 1953 and designated a local landmark, the building was designed as an advertising agency for Harry Ottman by architect Robert Woltz, a noted local architect at the time. It has never been remodeled.
The building features five offices, a reception area, break room and onsite parking for five vehicles. Marketed by Jim Parr of William C. Jennings Co., total proceeds from the $2,200 monthly lease payment help fund programs at Historic Fort Worth Inc., including maintenance and operation of Thistle Hill, McFarland House and the Yates-Ottman building itself.
The property, located at 1020 Summit Ave., is being marketed for a three-year term only.
OCEANS BREAKS GROUND
Oceans Healthcare and SRP Medical have broken ground for Oceans Behavioral Hospital Fort Worth, a 48-bed, 34,000-square-foot facility expected to open in April and provide specialized psychiatric treatment for adults.
“With this new hospital, Oceans will serve the Fort Worth community with exceptional behavioral health services to meet the significant and growing needs of seniors and their families,” said Oceans Healthcare CEO Jason Reed in a news release.
Hospital grounds are located along Bryant Irvin Road south of Interstate 20. The project’s general contractor is Rogers O’Brien, with Ascension Group as architect.
Oceans Healthcare, based in Lake Charles, La., operates 16 inpatient behavioral health care facilities and 12 intensive outpatient programs in Texas and Louisiana. For more information go to www.ohcg.info.
SRP Medical, based in Dallas and formerly part of the Staubach Co., is a real estate investment and development firm specializing in health care-related investments in Texas and the southern United States. More information is available at www.srpmedical.com.
CASE, EMERSONS MERGE
CASE Commercial Real Estate Partners and Emersons Commercial Management, both based in Dallas, have merged. Emersons brings a management portfolio of 3.62 million square feet of retail centers, office buildings and industrial properties in 15 states.
CASE, with offices in Fort Worth, Austin, Houston and San Antonio, provides tenant representation, global corporate services, and property management and leasing, among other services. More information is available at www.casecre.com.
BUSINESS PARK SOLD
Northern Crossing Business Park in north Fort Worth has been sold to General Investment and Development Corp. of Boston.
The property encompasses 408,850 square feet in four buildings at the southeast corner of Interstate 35W and Loop 820. TIG Real Estate Services of Dallas and Clarion Partners sold the property, which they had owned since early 2007. The business park is about 94 percent leased, said TIG president and founder John Walsh.
IN IRVING SOLD
Lee & Associates has sold a 30,000-square-foot industrial building at 8201 Tristar Drive in Irving. Representing the seller, Denkmann Associates LLC, was Mark Graybill of Lee & Associates. Michelle Hudson of Hudson Peters Commercial represented Manara Academy Inc., the buyer.
Fort Worth Physical Therapy PLLC has leased 6,471 square feet of office space at Mont Del Plaza, 6407 Southwest Blvd. in Benbrook. Representing the tenant was Grant Huff of Transwestern, with William I. Myers of Colonial Commercial Real Estate LLC representing landlord Mont Del Plaza Inc.
Salance Clinic Inc. has leased 656 square feet of office space at Country Place, 4255 Bryant Irvin Road in Fort Worth. Representing the landlord, Tilley Sr. Family Trust, was William I. Myers of Colonial Commercial Real Estate LLC.
MINT Dentistry has leased 4,638 square feet of retail space at Lincoln Court Shopping Center, 4800 Little Road in Arlington. Representing the landlord, Shops at Lincoln Court LLC, was Eric Vickers of Colonial Commercial Real Estate LLC, with Matt Smoot of Newmark Grubb Knight Frank representing the tenant.
Old West Cafe has leased 5,560 square feet of retail space at Lincoln Court Shopping Center, 4800 Little Road in Arlington. The landlord, Shops at Lincoln Court LLC, was represented by Eric Vickers of Colonial Commercial Real Estate LLC, and Paul Natwick of Quest Commercial represented the tenant.
Henderson Medical Building at 410-420 S. Henderson St. in Fort Worth has been sold by a local investor whose name was not disclosed. The medical building offers 8,316-square feet, as well as a surgery center and physician offices. The sale included a 6,500-square-foot adjacent building at 426 S. Henderson St. occupied by CVS/Caremark. Representing both the buyer and seller in the transaction was Michael Berkowitz, CEO of Colonial Commercial Real Estate LLC.
Luxor Vapors has leased 2,286 square feet of retail space at Lincoln Court Shopping Center, 4758 Little Road in Arlington. Representing the landlord in the transaction was Michael Berkowitz of Colonial Commercial Real Estate LLC.
Wells Fargo Home Mortgage has leased 2,990 square feet of retail space at SAR Western Center, 2901 Fair Drive in Fort Worth. Representing the landlord in the transaction was Michael Berkowitz of Colonial Commercial Real Estate LLC.
Meadow Creek Plaza, a 19,626-square-foot, two-story office building in Colleyville, has been sold to Gene Young Standard Insurance Agency Corp. Representing the seller, 8190 Precinct Line Partners Ltd., were LeAnn Brown and Russ Webb with Silver Oak Commercial, with Mark S. Wood of Howe/Wood & Co. representing the buyer.
Mansfield Town Center, located off U.S. 287 at West Debbie Lane in Mansfield, has confirmed Sam’s Club, ULTA and Five Below as its latest tenants.
The new retailers occupy 136,085 square feet of the 572,000-square-foot retail center, which is anchored by Lowe’s, Best Buy, Home Goods and Michaels.
The Sam’s Club space is under construction and is expected to open by year’s end.
Representing Sam’s Club, ULTA and Five Below in their respective leases were Tom Hudson of Tom Hudson Co., Jennifer Frank of Princeton Partners, and Tyler Grisham and Greg Bracchi of EDGE Realty Partners.
Representing landlord Kossman Development Co. were Stephen Coslik and Bryan Dyer of The Woodmont Group in all three transactions.
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