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T&P Warehouse: Historic building remains in limbo as area redevelops

For years, the historic T&P Warehouse on West Lancaster Avenue downtown, built in 1931 to house freight for the Texas Pacific Railway, has sat vacant and deteriorating.

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UPDATE: Susan Halsey, Fort Worth attorney, business leader, dies

Susan Halsey, a Fort Worth attorney who was also a community and business leader, died on Friday, Dec. 19. Halsey, 55, was chairman for the Fort Worth Chamber of Commerce in 2013-2014, leading the chamber during a year

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Heating up: West Lancaster corridor projects moving forward

West Lancaster Avenue through downtown Fort Worth is heating up, with planners envisioning a lively mixed-use corridor that extends the central business district further south.

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Oil plunge sparks concern of real estate slowdown in U.S. energy centers including Texas

SEATTLE — The drop in oil prices to five-year lows, while helping consumers, is sparking concern that leasing and construction demand will be hurt in some of North America's best-performing markets for commercial real estate.

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UPDATE: Wilkie, longtime head of Sid Richardson Foundation, dies at 91

Valleau Wilkie Jr., who headed the Sid W. Richardson Foundation from 1973 to 2011, died Tuesday in Sunapee, N.H., at 91.

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Antiques, Part Deux

 

Antiques, Part Deux

 Venture Commercial has secured a second Tarrant County location for antique mall owners Chris and Betsy SheidlerCooper Street Antique Mall opened Jan. 1 in a 53,000-square-foot building located at 4905 S. Cooper St. in Arlington, on the southeast corner of Oak Village Boulevard and South Cooper Street.

 

Christopher M. Gibbons, Ken Reimer and Katie Vance of Venture Commercial represented Sheidler in the lease negotiations. John Zikos and Chris Booras, also of Venture, represented the landlord, Sams Dice Arlington LP.

 

“The Venture team did a great job in helping me find a space large enough to meet the unique needs of an antique mall,” said Chris Sheidler.  “So far the success of this second location has exceeded my expectations.”

Sheidler’s first location, Montgomery Street Antique Mall, is the largest antique mall in Fort Worth and has been voted one of the best places to shop for antiques in North Texas.

 

 

More RE for TPG

 

TPG Capital of Fort Worth is expected to raise money for its first real estate fund in the second half of 2013, according to a report in the Wall Street Journal. The fund has a target of $1 billion.

Kelvin Davis joined TPG Capital several years ago to oversee the private investment fund’s property-related businesses and large property-rich portfolios. Since then TPG has been involved in several high-profile deals, including the purchase of Mission West Properties Inc., a large Silicon Valley portfolio, in partnership with DivcoWest.

 

 

Take to the sky

 

Skyline DFW Exhibits & Events has more than doubled the size of its storage capacity in the Great Southwest Industrial District, subleasing 47,675 square feet of vacant space for the duration of Western-BRW Paper Co. Inc.’s term at Arlington Corporate Center III.

 

“The term and the rate were the drivers. Because this company is continuously growing, the sublease provided flexibility – a short term and a rate that was right,” said Jim Ferris, vice president of Dallas-based Bradford Commercial Real Estate Services

 

The locally based company took immediate occupancy of 3709 E. Randol Mill Road in Arlington with a 15-month sublease, gaining expansion room for its events service division. The sublease increased storage capacity by 26,675 square feet and provided class A space with 28-foot clear heights, 10 docks and a ramp.

“We looked at a handful of locations in the Great Southwest,” Ferris said. “This is south of Interstate 30 and pretty close to its main office at 900 Avenue S.”

Skyline DFW started in 2001 in 3,000 square feet in the Great Southwest, expanded to 37,000 square feet in 2008 and then began to lease satellite storage space for a rapidly growing events services division, which provides logistics, management, maintenance and storage for exhibition properties.

 

The 176,000-square-foot Arlington Corporate Center III was developed in 2001 by ProLogis. The two-building project totals 352,000 square feet.  Jim Hazard, Brad Struck and Bill de la Chappelle of Transwestern Dallas represented the sublessor. 

 

 

  

 

 

Purple purchase

 

The VUE student housing property on University Drive just south of Texas Christian University has been acquired by a real estate trust.

Inland American Communities (IAC), a wholly owned subsidiary of Inland American Real Estate Trust Inc., acquired the four-story, mid-rise property for an undisclosed price. The property also includes 6,000 square feet of retail space that is under construction and is projected to open this spring.

The 118-bed VUE opened in August 2012 at 100 percent occupancy. The VUE will now be rebranded as University House.

Jaclyn Fitts of CBRE’s National Student Housing Group represented the seller in the transaction.

Fountain Residential Partners, builders of VUE, are building LoftVUE on Forest Park Drive.

 

 

 

 

More for seniors

 

Civitas Senior Healthcare LLC of Fort Worth has purchased the Autumn Wind Assisted Living Center in Winnsboro, marking the company’s expansion outside the Fort Worth area.

Built in 2010, Autumn Wind houses 63 units and offers amenities for residents including media rooms and on-site rehabilitation services. The split-level building, located at 1004 E. Coke Road, was designed by architect Joe Crews. Civitas Senior Healthcare will manage the property and will oversee the future expansion of Autumn Wind with the development of retirement cottages surrounding the main building.

“Our small company platform allows us to provide large company services with the attention to detail of a local owner,” said Wayne Powell, president of Civitas Senior Healthcare. Powell previously owned The Courtyards at River Park, an assisted living facility in Fort Worth, and has 20 years’ experience in senior health care.

In addition to the Autumn Wind Assisted Living Center, Civitas Senior Healthcare operates Cambridge Court Assisted Living and Memory Care in Mesquite.

 

 

Puppy love

 

Bright Realty brokered the lease of a 2,282-square-foot Puppyhood in the master-planned Castle Hills community in Lewisville. The new doggie day care and grooming company will be located in the Castle Hills Village Shops. Puppyhood is slated to open in May, just in time for the dog days of summer. Kerry Assa of Bright Realty represented the landlord.

 

 

 

 

Leases, etc.

 

Mitsubishi Electric Automation Inc. has renewed a 20,000-square-foot industrial lease at 1000 Nolen Drive in Grapevine. Matt Thompson, Phil Rosenfeld and Jack Rosenberg with Colliers International represented the tenant and Michael Spain with Bradford Commercial represented the landlord, A&B Properties Inc.Matt Thompson, Phil Rosenfeld and Sean McHale with Colliers International  represented Stanley Steamer International Inc. in another renewed industrial lease in the 820 Business Park at 2746 S.E. Loop 820, Building 3 in Fort Worth. Patrick Hunter of Hunter Commercial represented the landlord. ... Mayfield Real Estate Holdings LLC has purchased a 4,432-square-foot medical office building at 461 Westpark Way in Euless. Mark S. Wood of Howe/Wood & Co. was the broker. The seller was Dr. Jerry L. Lugger. The building will be used for a pain management and imaging center. Commercial Maintenance Group Inc. has purchased a 1,800-square-foot building at 6832 Boulevard 26 in Richland Hills. Mark S. Wood of Howe/Wood & Co. represented the seller and Mike McCowy of Prudential Worldwide represented the buyer. Bell Supply Co. has leased 67,589 square feet of industrial warehouse space from Bel Air Industrial LLC. The building is located in Northpoint Trade Center, 700 Eight-Twenty Blvd.  Matt Carthey and Donnie Rohde of Holt Lunsford Commercial represented the landlord and Robert Sawyer and Andrew Miller of Mages Real Estate represented the tenant.

 

Send real estate news to Robert Francis at rfrancis@bizpress.net

 

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