Silver Star Properties completes sale of 17.2 acres in Fort Worth

Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX. Inc. announces the disposition of 17.2 acres of land located at 820 North Business Park in Fort Worth.

The 820 North Business Park property, also known as Longhorn Business Park, was initially purchased by Silver Star Properties in 2009. Following the purchase, Silver Star Properties held the land for 10 years before selling two of the nine parcels totaling 9.9 acres in 2019 to Champion Realty Advisors.

In 2020, Silver Star Properties completed plans to develop two traditional warehouse/flex buildings on the remaining seven parcels of land to meet the increasing demand for logistics in the DFW area. Primely located just off Interstate 820 and conveniently positioned two miles from the Fort Worth Meacham Airport, the property poses significant potential for return once complete.

EastGroup Properties begins construction on Phase II of Basswood 35

EastGroup Properties has begun construction on the second phase of Basswood 35, a Class A industrial development in Fort Worth. Located at Basswood Boulevard and I-35 W, Phase II will consist of three buildings totaling over 351,000 square feet. The 61.45-acre, master planned development will consist of seven buildings totaling 882,000 square feet at full build out. NAI Robert Lynn Managing Principal and Fort Worth President Todd Hubbard, Principal and Executive Vice President Michael Newsome, Executive Vice President Jeff Jackson, and Transaction Manager Joe McLiney will represent EastGroup in the leasing of this project.

Phase I, two buildings totaling 237,400 square feet, was 100% pre-leased to four tenants prior to shell delivery.

Located in the North Fort Worth industrial submarket, Basswood 35 Phase II includes three new buildings measuring 89,741, 130,750 and 130,750 square feet. The buildings flexible design includes rear load and front load configurations, with multiple store front entries to accommodate users ranging from approximately 20,000 to 130,000 square feet. On the remaining land in the industrial park, EastGroup plans to construct a 96,000-square-foot rear load and 197,400-square-foot cross dock building as part of its third phase.

Method Architects will handle design, Talley Riggins will serve as general contractor, and civil engineering will be handled by Halff. Construction is scheduled to be completed by end of Q4 of 2023.

Lee & Associates Dallas Fort Worth negotiates 106,053-square-foot industrial lease transaction

Lee & Associates Dallas Fort Worth, one of the largest privately-owned national real estate firms, has completed a new lease transaction for a 106,053-square-foot industrial space located at Southwest Crossing Logistic Center, 5200 South Fwy in Fort Worth, Texas, 76115.

Becky Thompson, Reid Bassinger and Trey Fricke of Lee & Associates Dallas Fort Worth represented the Landlord, Industrial Realty Group. 

James Ewing of Colliers International DFW, Cam Kucic of Colliers International Indianapolis represented the Tenant, Sage Plastics, Inc.

Syndicated Equities acquires Oncor office building in Fort Worth

Syndicated Equities (Syndicated) is pleased to announce an investment in the Oncor, an office building that will be converted to multifamily located in downtown Fort Worth, Texas.

The property will be redeveloped by 3L Real Estate, a Chicago and Dallas-based developer that specializes in the adaptive reuse of converting urban office buildings to residences. The property consists of a 314,514-square-foot, 16-story office building and a four-story addition. Once complete, it will feature 330 units with Class A amenities including a gym, pool, rooftop deck, and business center.

Syndicated acquired the property alongside 3L Real Estate.

Dickies officially finds new headquarters in Downtown Fort Worth

One of the world’s leading performance workwear brands has found a new headquarters in the heart of its originating Texas city thanks to Stream Realty Partners.

Dickies, a top work apparel manufacturer founded in Fort Worth, has signed a lease at 500 Taylor St. in Downtown Fort Worth to serve as its new world headquarters. Dickies will occupy approximately 84,000 square feet at the six-story, mixed-use building. 

SADA Capital Partners, a Downers Grove, Illinois-based capital and asset management company, and SADA Tower LLC, a Texas limited liability partnership, purchased 500 Taylor St. (Tower Annex) and 500 Throckmorton St. (The Tower) in June 2022. 

Stream Executive Vice President Chris Doggett and Senior Associate Cullen Donohue represented the landlord in the transaction. Vice Chairman Randy Cooper and Vice President Wills Bauer of Stream represented the tenant. Stream is a national real estate services, development, and investment firm with a growing office in Downtown Fort Worth.

Dickies has occupied space at 509 W. Vickery Blvd. as a manufacturing facility and adjacent retail store for years.  

Dickies’ new headquarters will include space for office personnel, research, and design. 500 Taylor is a part of The Tower development, offering office and retail space with a 295-unit high-end condominium development directly above. Both properties were built in 1972 and redeveloped in 2005 after a tornado struck Downtown Fort Worth. The properties feature on-site property management and six restaurants. 

SADA Capital Partners plans to upgrade the building’s facade and add new finishes and lighting along 4th Street as it seeks new retail tenants in 2023. 

Mark Dabney of BOKA Powell is leading design on the project’s exterior improvements. 

Fort Worth Tower and Tower Annex are the first purchases SADA Capital Partners has made in Texas. 

Dickies is the largest new tenant signed in Downtown Fort Worth since Oncor relocated to 777 Main St. in 2020, according to Doggett. The company’s lease will absorb the third largest contiguous block of available office space in the Downtown submarket, which has seen a host of activity. The submarket recently saw Texas A&M announce plans to expand its current campus to 675,000 square feet and Apex Financial relocate its headquarters to 60,000 square feet in the Bank of America Tower. 

Stream Fort Worth has an office leasing and property management portfolio with more than 2.2 million square feet. The team has grown to 23 employees since the office in Frost Tower opened in 2015.