JLL has completed the sale of 3700 Hulen Street in Fort Worth on behalf of Chemical Management Co. Inc., the real estate firm announced on May 11. 3700 Hulen LLC purchased the five-building complex on 2.6 acres for an undisclosed price.
JLL Managing Director Pat McDowell and Vice President Matt Montague led the sales team.
The property was the headquarters for mineral and lime producing company Lhoist North America, which is relocating to the Clearfork development.
"3700 Hulen provides a great opportunity for the new ownership group," said McDowell. "Its location, the accessibility to major highways and roads, and its vicinity to amenities and entertainment make it an intriguing property for prospective tenants.”
3700 Hulen Street is located in the West/Southwest submarket of Fort Worth near Interstate 30 and the Chisolm Trail Parkway. The office property totals 45,118 square feet and includes surface parking, landscaping, an outdoor patio and fountain.
3700 Hulen LLC was formed by W. Martin & Co. to acquire the property.
“We’re leasing the property back to Lhoist through the end of the summer while they are moving to Clearfork,” said Will Martin, managing partner at W. Martin.
Martin said the firm plans to update the buildings once the property is vacated.
“There aren’t many corporate campuses like this in the center of the city,” he said. “We’ve already had companies interested.”
West/Southwest submarket remains one of the most active in Fort Worth. According to JLL Research, in the fourth quarter of 2016 the submarket net absorption percentage (2.3 percent) was the second-highest in Fort Worth, while the vacancy rate (9.3 percent) was the second-lowest. Only Westlake/Southlake had a higher net absorption rate (2.8 percent) and Centerport/Dallas Fort Worth International Airport had a lower vacancy rate (3.1 percent).
BUSINESS PARK PLANNED
FOR SOUTH FORT WORTH
Majestic Realty Co., partnering with Fort Worth-based Hickman Companies, announced that it plans to develop a 320-acre master-planned business park in south Fort Worth with over 6 million square feet of office, industrial and logistics space.
Located 2.5 miles south of the Interstate 20-35W interchange, Phase I of the Majestic Fort Worth South Business Park will be built on 110 acres and total 1.8 million square feet of industrial space in multiple buildings. With direct access to and visibility from I-35, Phase I will serve users with options ranging from 35,000 to 1.2 million square feet of spec and build-to-suit options.
The business park is scheduled for completion in June 2018. Building 1 will be 287,000 square feet. Features will include 32-foot clear height, 50-foot by 52-foot bay spacing, ESFR sprinkler system, 66 dock doors, 84 trailer parking spaces, 219 car parking spaces and a 190-foot truck court. The building has the flexibility to accommodate tenants ranging from 35,000 square feet to 287,000 square feet.
“With direct access to I-35 and I-20, a strong labor market and low vacancy within the sub-market, we believe that south Fort Worth provides a great option for any company considering locating within the DFW Metroplex,” said Majestic Vice President Josh Wheeler.
Tenants of the Fort Worth South Business Park will join corporate neighbors including Alcon, Ben E. Keith, Budweiser, Halliburton, Federal Express, NFI, Tyson and Procter & Gamble.
The Fort Worth South Business Park will add to Majestic Realty’s existing 9.5 million-square-foot Texas portfolio spread across six industrial parks – Lewisville with 3.5 million square feet, Laredo with 3 million square feet, Hutchins with 1.5 million square feet, Fort Worth with 1 million square feet, Coppell with 300,000 square feet and Plano with 200,000 square feet.
In the Sack has leased 6,600 square feet of retail space in the Sanger Building, 415 Throckmorton St., in Fort Worth, from Sundance Plaza Properties LLC. Judy Nitzinger of Coldwell Banker Commercial Advisors DFW represented the tenant. Robert Gamblin of Sundance Square represented the landlord.
RW Solutions Inc. has expanded by 2,436 square feet, taking its total to 4,857 square feet of office space in 5500 Centre, 5500 E. Loop 820 S., in Fort Worth. Beaux Riley of Coldwell Banker Commercial Advisors DFW represented the landlord, ECS International LLC, in the direct deal.
Partners Casualty has leased 2,104 square feet of office space at 726 Dalworth St., Grand Prairie, from Ancre LLC. Chris Mendez of Coldwell Banker Commercial Advisors DFW represented the landlord in the direct deal.
Jambo's BBQ Shack has renewed 1,620 square feet of restaurant space at 2500 Little Road, Arlington. Chris Mendez of Coldwell Banker Commercial Advisors DFW represented the landlord, Ted Machi, in the direct deal.
Jeld-Wen/Millwork Masters of Texas has leased 175,000 square feet at Main Street Distribution Center, 2510 W. Main St. in Grand Prairie. The tenant was represented by Gary Collett and Jean Russo of Cushman & Wakefield. Cannon Green and Luke Davis of Stream Realty Partners LP-Dallas represented the landlord.
Ox Paperboard has leased 103,889 square feet at 4300 Diplomacy Road in Fort Worth. Michael Peinado, Tom Kuhlmann and Gil Stroube of Lincoln Property Co.-Dallas represented the landlord.
Bar T Windows has leased 19,600 square feet at Jayco Stamping Co., Building 1, 120 S. Sylvania Ave. in Fort Worth. Todd Hawpe and Jeff Givens of Transwestern-Dallas represented the landlord.
O'Dell Roofing has leased 8,000 square feet at 3201-3223 May St. in Fort Worth. Jeff Givens of Transwestern-Dallas represented the landlord.
Jim Ross Law Group PC has leased 7,782 square feet at Brookhollow Two, 2221 E. Lamar Blvd. in Arlington. Bryan Graham of CBRE-Arlington represented the landlord.
Mercury Chop House has leased 5,524 square feet at Brookhollow Two, 2221 E. Lamar Blvd. in Arlington. Bryan Graham of CBRE-Arlington represented the landlord.
Colaneri Firm has leased 5,178 square feet at 524 E. Lamar Blvd. in Arlington. Jim Montgomery of Swearingen Realty Group represented the tenant. Sean Dalton and Kathy Permenter of Younger Partners-Dallas represented the landlord.
LabCorp has leased 3,496 square feet at Westgate Plaza, Building 3, 2020 E. Randol Mill Road in Arlington. Krisi Miller, Jack Allen, Dylan Smith and Andrew Bishkin of J. W. Management represented the landlord.
Veracity Financial has leased 2,301 square feet at Executive Tower, 1106 N. State Highway 360 in Grand Prairie. Jeffrey Day of Centra Partners LLC-Fort Worth represented the landlord.
Southwest Sports & Spine Center has leased 1,653 square feet at 11751 Alta Vista Road, Building 3, in Fort Worth. James Keoughan of Briggs Freeman-Keoughan Group represented the landlord.
DishOne has leased 1,801 square feet of office space in Arlington Oaks, 2912 Kraft St., Arlington, from One Oak Over the Line. Judy Nitzinger of Coldwell Banker Commercial Advisors DFW represented the landlord.
World Education LLC has leased 1,523 square feet of office space in The Historic Vandergriff, 255 N. Center St., Arlington, from Community Chest LLC. Renee Efimoff of Coldwell Banker Commercial Advisors DFW represented the landlord. Blake Rodgers of JLL represented the tenant.
JP Piccinini Real Estate Services LLC has leased 1,509 square feet of office space in Highlands Tower, 701 Highlander Blvd., Arlington, from This Land is Highland LLC. Renee Efimoff of Coldwell Banker Commercial Advisors DFW represented the landlord. Rhonda Martin of the Commercial Connection represented the tenant.
Send real deals to Robert Francis at email@example.com.