Realty Capital Management has purchased 77-acre fill assets in Mansfield with plans for a mixed-use assignment called Watson Branch. The mixed-use progression will come with 10,000 square feet of commercial and dining space, 250 single-family homes, 190 active adult multifamily games built through Greystar Development, 350 market-priced multifamily games built through Trinsic Residential and 10 – a public acre park along FM 157 and Mouser Way. Single-family homes will have masses ranging from 50-foot masses to masses of 22-foot townhouses.
“Planning this progression has been a small task,” said Tim Coltart, General Manager of Realty Capital, “with terrain configuration, innovations to public infrastructure, and number of uses; this progression represents years of hard work and coordination. »
Realty Capital rebuilt the assets in August 2019 after a series of public hearings at the city council.
“As one of the last filler sites in the city, this is a key progression that will contribute to the revitalization of the city center and the improvement of the FM157 corridor. We are thrilled to have assembled a world-class team developers who will make Watson Branch a great high-quality mixed-use progression,” said Spencer Long, a progression spouse at Realty Capital. “We are incredibly grateful to Mansfield’s and control for your time and effort in this project.”
The Watson Branch network will be at a newly built intersection with traffic lighting fixtures along N. Main Street that will link Mouser Way to Company 287. The mixed-use network benefits from The extensive North Shore trail formula that runs throughout the property. It is divided into zones for young people to attend school in the highly skilled Mansfield Independent School District, and is a three-minute drive from mansfield city centre.
RCM obtained a loan from Louisiana-based First Guaranty Bank and partnered with Dallas-based Realty Capital Partners to finance the land acquisition.
Watson Branch is the only assignment for Realty Capital.
In July, Realty Capital Management announced its partnership with PointOne Holdings, a South Florida genuine real estate company, to expand a 266-unit multifamily network in downtown Mansfield.
Main Street Lofts is the moment phase of an existing assignment that was re-zoned through Realty Capital in 2015. This phase will be built on an eight-acre site and will come with 4 medium-sized buildings with exceptional amenities, adding an interior on the 4th floor. / outdoor lounge, a complex flavor pool, a mezzanine clubhouse and a fitness center. Assets will have direct access to an expanded trail formula connecting North Main Street to Mansfield City Park, which comes with a 600-seat amphitheater, play areas, picnic areas, trails and sports fields. The network will be within walking distance of the newly revitalized downtown Mansfield, which features new restaurants, bars and a major renovation of the historic Farr Best Theatre.Array, we couldn’t be more excited to deliver an assignment to the city center. “Coltart said.” With direct access to public trails, proximity to downtown and proper public schools in the area, Main Street Lofts is in fact one of the most productive progression sites in the D-FW metroplex. We are incredibly grateful that First United Bank and PointOne Holdings share our vision for this assignment, and we are excited to continue our partnership with the City of Mansfield. “Realty Capital has obtained a loan from First United Bank for the progression of the allocation. NRP Construction is the general contractor and JHP Architecture is the architect of the assignment.
Chisholm Trail Retail
StreetLevel Investments announced on August 11 that Chisholm Trail Ranch retail outlets are open, leased at 90% and able to serve communities on the southeast corner of Chisholm Trail Parkway and McPherson Boulevard in Fort Worth.
Stores open to date include Ross, Marshalls, Old Navy, Ulta, Five Below, Famous Footwear, Tuesday Morning, Dollar Tree, Bath -Body Works, America’s Best, Aria Nail Bar, Pacific Dental, AT-T, Sprint, The Joint, Great clips and sports clips. Restaurants that have recently opened include Chick-fil-A, Whataburger, MOD Pizza and Marble Slab/Great American Cookie.
Future openings come with Spectrum, Chipotle, Care Now, Crumbl, Luxx Nails and Texas Health.
The long-awaited opening of Studio Movie Grill, the cinema chain’s first location in Fort Worth, is expected to open in late summer, which StreetLevel Investments executives plan to celebrate with an official opening ceremony.
“Entrepreneurship thrives right here, a pandemic,” said Anne Kuta, director of development at StreetLevel Investments. “Driven through the progression of Chisholm Trail Drive, chisholm Trail Ranch outlets are highly anticipated by domain citizens and surrounding communities. We are very happy to offer you entertainment options and essential groceries. We inspire everyone to come and buy edibles dressed safely with a mask and help companies here in those difficult times ».
With a 250,000-square-foot domain, the retail medium includes 130,000 square feet of high-end retail stores, a 40,000-square-foot Studio Movie Grill, 80,000 square feet of convenience stores and retail services, and food concepts and places to eat.
Construction of retail establishments at Chisholm Trail Ranch began in January 2019. StreetLevel Investments evolved the assignment with Arch-Con Corporation overseeing the structure and Edge Realty Partners renting the assignment. Keith Bjerke, president of Bjerke Management Solutions, is the program manager.
Haslet Project
JLL announced on August 12 that it had organized equitable financing and structure and led leasing efforts for Intermodal Commerce Park, a Class A business assignment to be built with 3 buildings totaling 1.4 million feet in Haslet.
JLL worked on behalf of Gruene Real Estate Partners and Weber and Co. to establish the joint venture partnership with a personal real estate fund sought through Crow Holdings Capital and placed the five-year structured loan with First United Bank on behalf of the developer. In addition, JLL selected to lead marketing and leasing efforts for the planned development of the teacher. Construction is expected to be completed by July 2021.
Intermodal Commerce Park will be built on land at the southern end of Intermodal Drive, which connects the 82 acres with BNFS’ nearby intermodal facility at Alliance, the nation’s largest inland harbor. The progression is approximately one mile east of Interstate 35W and at the southern end of the Alliance Airport.
The intermodal industrial park will come with a front-loading construction and two cross-dock constructions 32 to 40 feet high, deep truck courts, 186 dock gates, 10 ramp gates, 313 trailer stands and a giant parking lot.
“With its training, the Weber-Gruene joint venture will function as a cohesive unit,” said Ken Kristofek, owner and president of Gruene Interests LLC. “We will work perfectly, combining a varied set of functions in the progression procedure and an already rich history of service and quality at Dallas-Fort Worth.”
JLL Capital Markets’ team of developers was led by Dustin Volz, John Rose, Stephen Bailey and Wells Waller. The JLL Leasing team includes general manager George Curry, executive vice president Jamie Galati and Vice President Blake Rogers.
The need for a country-wide storage area has increased due to the COVID-19 pandemic and the resulting on-site shelter requests, accelerating the expansion of e-commerce. JLL expects e-commerce sales to succeed at $1.5 trillion through 2025, which would increase demand for commercial real estate through another billion square feet.
London Baker one location
A local bakery presented through The Food Network is expanding to a location at DFW for now. The First 1,052 London Baker location is located in the de-dismantle shops of Bright Realty Village, Castle Hills, on the planned network through Castle Hills in Lewisville. Its location at the moment, a 1,638-square-foot bakery with specially ordered items, takeaway from the new cake box and dinner seats, will open in the spring of 2021 at Kingdom at Castle Hills. The location will be a component of the first land retail in Valor at The Realm multifamily. Kingdom of Castle Hills is at 4440 TX-121 in Lewisville.
Elizabeth Rowe, owner of London Baker’s, opened her first castle location in March 2018. Its bakery is best known for its award-winning edible artworks that have appeared in Food Network exhibits by adding Cake Wars, Halloween Wars, Dallas Cakes and Holidays The Wars. The bakery also added the Food Network Challenge to its list of television appearances in January.
Rowe’s richly carved cakes feature characters from Game of Thrones, Star Wars, Disney and more. Its portfolio of complex and pastel designs includes iconic football stadiums, motorcycles, dinosaurs and superheroes. In addition to “on-demand” cakes, The London Baker offers cakes for all events in flavors such as vintage vanilla, red velvet, wedding cake, biscuits and cream and lemon. His Chocolate Stout Cake is described as a “spectacular salted and watered crunchy caramel cake” baked with a black chocolate and vanilla beer, an elegant filling of salted caramel butter and crushed Heath caramel bar pieces decorated with a fudge chocolate glaze.
London Baker is the only Castle Hills company to open a momentary store this year. Chef Salvador Hernandez of The Lakes at Castle Hills Private and Country Club will soon open El Patio, a 3800-square-foot “Mex-Tex” concept featuring a combination of original Mexican cuisine and authentic Texan barbecue at The Offices at The Realm in Castle Hills. The construction of El Patio is almost finished lately.
Britton Lankford and Dan Looney represented the owner, Bright Realty, in The London Baker. The tenant represented through Rothroughn Heathcock, Keller Williams.
Freight Operations Services, LLC purchased a 2700-square-foot commercial construction at 2725 West Hunter Ferrell Road in Grand Prairie. SLG Commercial represented the buyer. Hanes Chatham with Stream Realty Partners represented the seller, J2K Property Management Investments Inc.
Rentals
The Abundant Life Wellness Clinic has leased 4,009 square feet to Monterra Medical Park, 3100 N. Tarrant Parkway, near the Medical City Alliance Hospital. Jeff Marek, vice president of business vision, and Michael Gonzalez, senior director of business vision, represented the owner. Keely Nezworski of Pineapple Properties LLC represented the tenant.
New hire, new division
Younger Partners has incorporated Micah Ashford to lead a new retail acquisition platform. She comes from a two-year hiatus after a 20-year career as a wife at Dunhill Partners, a leading south-west real estate advertising company focused on grocery retail.
“Without delay we identified the price Micah brings us to this new company,” says Moody Younger, co-founder of Younger Partners. “It’s a simple resolution for us.” Younger Partners co-founder Kathy Permenter added that retail is a niche market and that Micah’s delight and leadership is a wonderful addition to the team.
Ashford’s role in Younger Partners will come with control of acquisitions, financing and divestments. It will create genuine new real estate opportunities, negotiate partnerships and loan documents, and oversee physical and monetary due diligence for those acquisitions.
Discount
Marcus and Millichap (NYSE: MMI) sold Mesa Park, a 12-apartment building in Grand Prairie. Matt Aslan, Nick Fluellen and Bard Hoover, marcus and Millichap’s workplace investment specialists in Dallas, were exclusively ready to market the assets on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, secured and represented Aslan, Fluellen and Hoover. Mesa Park is located at 2462 Fort Worth Street in Grand Prairie.
Marcus and Millichap sold Mansfield Highlands, an 18,138-square-foot publicity building in Mansfield. Philip Levy, an investment specialist in Marcus And Millichap’s Dallas office, had the exclusive directory for marketing the assets on behalf of the seller, a personal investor. The buyer, a personal investor, hired and represented through Levy and Chris Gainey, also an investment specialist in Marcus Millichap’s Dallas/Fort Worth office. Mansfield Highlands is located at 26 East Debbie Lane.
Vision Commercial Real Estate has sold homes at 110 W. Henderson St. and 207 N. Mill St. in Cleburne, a total of more than 18,000 square feet of area, which will now be remodeled through Maddox Group. Philip Green, director of Vision Commercial, represented the distributor and Coldwell Banker’s Cheri White represented the buyer. The area is in downtown Cleburne Square and across from the County Courthouse.
Rentals
Carrier Enterprise LLC has expanded 66,721 feet to North Park – Building 4, 5051 N. Sylvania Avenue in Fort Worth. Brett Carlton, Forrest Cook and Seth Koschak of Stream Realty Partners represented the owner, EastGroup Properties L.P. CBRE Inc. represented the tenant.
Jeff Marek, Vice President of Commercial Vision, and Michael Gonzalez, Senior Director of Commercial Vision, recently completed lease negotiations at 3100 N. Tarrant Parkway in Fort Worth with Keely Nezworski of Pineapple Properties LLC. Abundant Life Wellness Clinic will occupy Suite 104, which is 4,009 square feet. This asset is in Monterra Medical Park. At the time of the lease negotiations, Vision Commercial represented the landlord and tenant represented through Pineapple Properties.
Bright Realty negotiated the lease of a nursery in Murphy to be built through Murphy Equity Management, LTD. The Kiddie Academy franchisee plans to open daycare in the summer of 2021. The site is located in the Northwest Quadrant of FM 544 and McCreary Road, next to the owner’s Maxwell Creek Plaza. Britton Lankford of Bright Realty represented the owner, Bright Realty, in the transaction. Grant Gary of The Woodmont Company represented the tenant.
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