News Column

Fort Worth Star-Telegram Sandra Baker column

May 18, 2014

By Sandra Baker, Fort Worth Star-Telegram

May 18--Ballpark Parking Partners, controlled by the owners of the Texas Rangers, have bought another piece of land near the baseball stadium in Arlington from former team owner Tom Hicks.

The 17.6-acre Stonegate Pines mobile home park south of Globe Life Park was sold by Hicks on April 21, deed records show. Hicks bought the land in 2007 is part of his plan for the $600 million Glorypark development on parking lots around the stadium.

In April of 2013, Hicks sold Ballpark Parking Partners 55 acres of stadium parking lots. The lots were the subject of a lawsuit in 2011, rising from a dispute over parking revenue. At the start of the 2012 season, the Texas Rangers said they reached a "multiyear agreement for the operation" of the parking lots at the stadium, owned by Ballpark Real Estate, a limited partnership run by Hicks.

Hicks sold the team in bankruptcy court in 2010, but the lots were not a part of the sale. Ballpark Parking Partners financed that purchase with a $54.3 million note with Comerica Bank, deed records show.

Deed records show Ballpark Parking Partners financed the acquisition of the Stonegate Pines property with a $5.1 million note with Comerica.

Mansfield shopping center sold

Walnut Creek Plaza LLC., an Arlington investment group, has bought the 59,297-square-foot former Albertsons grocery store building in the Walnut Creek Village shopping center in Mansfield.

The building, at 989 N. Walnut Creek Dr., is leased by Big Lots and Urban Air Trampoline Park.

John Zikos and Chris Booras with Venture Commercial Real estate represented the seller, Dallas Retail Associates. D. Randall Stepp with Lincoln Property Co. and Nick Ibarra with Clear Fork Properties represented the buyer.

The Mansfield building was the last to be sold of five former Albertsons stores in North Texas sold by Dallas Retail Associates, a partnership of Centennial Real Estate Co. and the Praedium Group.

State of Texas leases space

The state Health and Human Resources Department and Family Protective Services will share 25,743 square feet of space in the Ridgmar Village Shopping Center, adjacent to Ridgmar Mall in west Fort Worth.

Clint Montgomery with Sperry Van Ness/Visions Commercial represented Ridgmar Village. Sean Sunby with CBRE in Dallas represented the state.

Westbrook building adds tenants

The new Westbrook office building in Sundance Square is nearly full following some recent leases and expansions.

The Diesslin Group, a financial services firm, has leased 6,652 square feet and The Deena Jo Heide-Diesslin Foundation has leased more than 900 square feet.

In addition, Atlas Resource Partners, an oil and gas exploration and production company, added 13,000 square feet more, bringing their total square footage to 40,000.

The building, at 425 Houston St., is now 90 percent leased, Sundance Square said. One retail space and about 3,000 square feet of office space remain, Sundance Square said.

Robert Gamblin and Bill Booker with Sundance Square negotiated the leases.

Transactions

2400 E. Pioneer Parkway, Arlington

E System Management, a Sprint dealer, has leased 2,048 square feet. Michael Meaden with CBRE represented the tenant. Jon McDaniel with NAI Robert Lynn represented the landlord, PPUG Llc.

1800 Timberlake Dr., Arlington

Hyborean Inc. of Arlington has bought a 54,600-square-foot office, warehouse and showroom from JT Timberlake Ltd. of Dallas. Hyborean plans to lease the property to Lone Star Comics, an online buyer and seller of comics books nationwide. Coy E. Garrett with Coy E. Garrett & Associates represented the buyer. Jim Hazard with E.S. Realty Partners in Dallas represented the seller.

2936 W. Seventh St., Fort Worth

Dallas MTA has leased 5,397 square feet for a Verizon Wireless store. Daniel Taylor with CBRE represented the tenant. Robert Williams withe Centric Capital Partners represented the landlord, HF Seventh Street.

SW Loop 820 and Hulen Street, Fort Worth

Legacy Salons & Day Spa has leased 9,143 square feet in Overton Park Plaza. Carey Moen with SRS Real Estate Partners represented Legacy Salons & Day Spa. Weingarten Realty is the landlord for this development.

720 Industrial Blvd., Grapevine

Paragon Brokerage Inc. has leased 14,382 square feet of office space in Heritage Business Park Building VII KTR DFW LLC. Michael T. Spain with Bradford Commercial Real Estate Services represented the landlord.

Sandra Baker, 817-390-7727 Twitter: @SandraBakerFWST

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(c)2014 the Fort Worth Star-Telegram

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Source: Fort Worth Star-Telegram (TX)


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