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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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Texas Health Care expands Magnolia lease

Lincoln Harris CSG has negotiated a renewal and expansion of Magnolia Medical Tower’s lease on behalf of Texas Health Care PLLC.
The expansion spans 3,015 square feet at the 1307 Eighth Ave. property in Fort Worth and brings the total transaction to 10,343 leased square feet.

“The recent renovation of Magnolia Medical Tower makes it a premier space in the health care real-estate market,” said Banks Newton, transaction manager with Lincoln Harris CSG, commenting in a news release.
“We are pleased that the property has continued to meet the needs of Texas Health Care,” Newton said.

Representing Velocis, a private equity real-estate fund that owns the building, in the transaction was Newton. Velocis recently completed $1.5 million in renovations at the property to improve the quality of the asset for current and future tenants. Steve Relyea of The Relyea Co. negotiated on behalf of the tenant, Texas Health Care, a specialty physician group practice owned and governed by physicians, for physicians.

Among the six-story building’s renovations are new corridor finishes, renovated lobby areas and reconstructed restrooms. The building’s entries and exits now feature upgraded doors for what planners call a more cohesive look and to ensure Americans with Disabilities Act compliance. Also upgraded are the tower’s mechanical and fire alarm systems.

Most of the building was repainted, and new signage was installed. Also part of the renovation is a new canopy over the walkway bridge leading from the parking garage roof to the office building.

Formerly known as Medical Arts Building, the tower is adjacent to Baylor All Saints Medical Center. The renewal and expansion bring the building to 75-percent occupancy.

— A. Lee Graham
 

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