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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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Left Bank project hits roadblocks on access, traffic

Questions about fire access and traffic are bogging down talks on an economic incentive agreement for the planned, $300 million Left Bank development on the Trinity River at West Seventh Street, Fort Worth officials and the developer acknowledge.

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UPS adding Alliance, McKinney locations and 500 area jobs

UPS said Aug. 21 it will add two new package distribution facilities in the Dallas-Fort Worth area

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TCU's Neeley School receives $30M donation as part of planned expansion

A $30 million foundation gift to Texas Christian University will help guide a $100 million facility expansion for the Neeley School of Business.

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Real Deals: Ridge Rock Plaza gets refinancing

 

Ridge Rock Plaza near Hulen Mall in Fort Worth remains on solid financial footing after CBRE’s Debt & Structured Finance group in Dallas arranged acquisition financing for the shopping center.
Working on behalf of Thackeray Partners, CBRE obtained an $11 million non-recourse, eight-year loan.
Ridge Rock, with 114,495 square feet along Overton Ridge Boulevard, is 100 percent occupied. Tenants include Bed Bath & Beyond, Michaels, Pier 1 Imports, Freebirds and Sleep Experts.
“Strong sponsorship, excellent tenancy, and outstanding trade area demographics are all reasons that Ridge Rock Plaza garnered a lot of interest from the lending community and we were able to secure attractive financing for the borrower,” said Matt Ballard in a news release.
Securing financing on behalf of the borrower were Scott Lewis, Matt Ballard and Patrick Benoist of CBRE’s Dallas Debt & Structured Finance group. Representing the seller were Chris Cozby, Chris Gerard and Kevin Holland of CBRE’s National Retail Investment Group.

KMM UNVEILS
DISTRIBUTION COMPLEX
Supply chain and logistics firm KMM Telecommunications has expanded its national distribution network with a 200,000-square-foot facility in Grapevine that is expected to bolster the company’s presence in the U.S. communications industry.
"The Dallas area is a terrifically dynamic region for the communications industry," said company CEO Katherine McConvey in a news release.
"Many of our customers and manufacturers have a strong presence there, and KMM is pleased to have a local facility to serve them," McConvey said.
The building features 200,000 square feet of Class A distribution space as well as 5,000 square feet of office space and 31 docks. It stands four miles north of Dallas/Fort Worth International Airport at 4051 N. State Highway 121.
The New Jersey-based company distributes communications equipment and does engineering and tower training services at this location.
Outside Texas, the company’s distribution footprint includes 34 facilities with 1.2 million square feet of warehouse space under roof. It has central distribution centers in California and New Jersey totaling 300,000 square feet.
"We took a hard look at our facility rationalization plan before deciding on the Dallas area," said John Campanelli, president of business operations. "We wanted to optimize transportation lanes to help control freight costs for our customers. We also wanted a large facility in the central U.S. to provide a certain amount of distribution redundancy to our coastal operations, which further enhances our disaster recovery program."
Established in 1991, KMM provides supply chain managed services to the U.S. communications market. More information on the privately held firm is available at www.kmmcorp.net


FIRST BAPTIST CHURCH
OF GRAND PRAIRIE SOLD
First Baptist Church of Grand Prairie has been sold to Uplift Education.
The property, at 122 Northeast Second St., was listed for $4.9 million but the final purchase price was not disclosed. The church has 114,753 square feet of building space.
Brokering the sale was Gene J. Livens, church consultant and associate broker with Service Realty Inc., which specializes in church and school properties.

LEASES
Nationwide Insurance Co. has leased 1,528 square feet of retail space in Shops at Stone Creek, 3084 N. Goliad St. in Rockwall, from Metroplex Acquisition Fund LP. Representing the tenant in the transaction was Casey Tounget of Coldwell Banker Commercial Alliance DFW, with Tim Thompson of Crestview Real Estate representing the landlord.
Attorneys Sergio Aleman and Mike Ramey have leased 1,500 square feet of office space in the Salazar Building, 851 South R.L. Thornton Freeway, Dallas, from John R. Salazar Properties Inc. Representing the tenant was Monika Guzman-Perez of Coldwell Banker Commercial Alliance DFW. Matt Miller of Jim Lake Inc. Realtors represented the landlord.


 

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