Fort Worth office building conversion set to add more residences downtown
June 17,2024
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A yearlong project to convert a 16-story building in downtown Fort Worth is set to begin in August.
The building was most recently home to Oncor, which moved out in 2021. The conversion of the 30,000-square-foot office tower into 300 apartments is set to begin Aug. 1 and be completed by the end of August 2025, according to a filing with the Texas Department of Licensing and Regulation. The filing by building owner 3L Real Estate of Rosemont, Illinois, estimates the cost of the project at $30 million.
Restaurants on the ground floor of the building, The Capital Grille and Little Red Wasp, will remain open during the conversion.
The design firm for the project is Bennett Partners.
Escalante Golf putts to Foch Street
Stream Realty Partners has added Escalante Golf to the list of groups at Foch Street Warehouses, a mixed-use development in Fort Worth’s West 7th entertainment district. Escalante Golf, an operator of luxury golf properties nationwide, will occupy 25,000 square feet and is expected to open by fall 2024.
Acquired by Asana Partners in 2022, Foch Street Warehouses encompasses 135,727 square feet across three buildings.
Chris Doggett and Associate Matthew Cheney of Stream represented Asana Partners in the transaction. Principals Gibson Duwe and Kyle Poulson of Transwestern represented Escalante Golf.
Founded in 1991 and headquartered in Fort Worth, Escalante Golf is a premier owner and operator of luxury U.S. golf courses and private clubs. Its property portfolio includes 23 golf courses and clubs throughout 14 states.
North Texas is in a pickleball frenzy
Dill Dinkers has announced a regional development deal — its 14th overall — with business partners who have committed to the growth of at least 50 locations in North Texas, including Euless, Southlake, Keller, Frisco, Little Elm, McKinney and Mansfield.
The new franchises are courtesy of Justin Goehring and Brock Oldenkamp. Goehring has been a longtime entrepreneur and owns Bazooka Charlie's Barber Co., a barbershop franchise with seven locations in North Texas and more to come. Oldenkamp owns KNO Construction, an Azle-based company that specializes in commercial and residential construction.
Since its inception in November 2022 in Columbia, Maryland, Dill Dinkers has been at the forefront of the pickleball trend. There are four company-owned locations in Maryland, and the brand has signed developers in Texas, Washington, D.C., North Carolina, Connecticut, South Carolina, Arizona, Maryland, Virginia, and Pennsylvania for over 250 committed locations. By year’s end, Dill Dinkers expects to have a total of 30 opened locations and more than 500 committed locations.
Grapevine sees industrial growth
First Citizens Bank said it provided $24.5 million in construction financing for 121 Commerce Center, a large new industrial property in Grapevine.
The facility will cover more than 272,000 square feet and feature 36-foot ceilings, 54 truck doors and more than 350 parking spaces. The 16-acre site is near Highway 121, Interstate 635 and the Dallas Fort Worth International Airport.
Construction has begun on the facility, which is owned by an affiliate of GTIS Partners, and is expected to be completed before year’s end.
Legacy Medical expands
Legacy Medical Consultants has announced plans to more than double the size of its headquarters to accommodate its expanding operations and portfolio of allografts, or tissue grafts for wound care. The company has been growing steadily since its founding in 2020, with over 500% annualized growth in unit sales.
The new headquarters will be nearly 15,000 square feet and is located in Hillwood’s Alliance Town Center, which houses the existing location. Legacy expects to move to the new offices by August.
The Class A office space will house employees focused on customer success and accounting and serve as a hub for distribution. There will be an expanded climate-controlled storage area for allografts. There will also be a boardroom and training facilities.
Entertainment district scores residences
The Texas Rangers organization and The Cordish Companies celebrated a major construction milestone June 10 at One Rangers Way with a ceremonial topping-off event held at the project site.
One Rangers Way is an upscale residential community that will give renters an opportunity to live in the heart of the Entertainment District, steps away from the Texas Rangers’ Globe Life Field, the Dallas Cowboys’ AT&T Stadium, Choctaw Stadium, Texas Live!, Live! by Loews, Spark Coworking and the forthcoming National Medal of Honor Museum. Pre-leasing is exceeding expectations, according to the Texas Rangers. It’s expected to open for occupancy in January.
The 300-unit building was designed by Hord Coplan Macht and offers a mix of studio, one-bedroom, two-bedroom and penthouse apartment homes, with units ranging from the $1,500s to penthouses in the $4,000s. The apartments are named after famous Rangers players and events in the timeline of the club. The lead contractor on the project is CBG Building Group.
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Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
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