The developers of the luxury Montserrat residential development in far southwest Fort Worth are again marketing an adjoining commercial section of high-end offices, restaurants and shops.
Will Martin, principal of Will Martin Co., has been hired to handle those efforts. The 15-acre site will have room for about a dozen buildings.One site has been sold to Salons of Volterra in Keller, which plans a two-story, 10,000-square-foot salon, and another is under contract for an office building, Martin said. One site is set aside for a restaurant only, he said.The Siratt family of Fort Worth is developing Montserrat on 220 acres just west of Loop 820 and south of Interstate 30, at Team Ranch Road. Some of the land was sold to the family in 2003 by Texas Wesleyan University.In 2006, the Siratts announced the commercial development, but the economic downturn put it on hold until now, Martin said.The commercial section is being called Marche Montserrat. Design guidelines call for Mediterranean-style buildings with stone and stucco exteriors and red-clay barrel tile roofs.Marinas soldDallas-based Suntex Ventures with its subsidiary Suntex Marinas, an owner and operator of marina properties, recently bought three marinas on Eagle Mountain Lake in Fort Worth.They are Eagle Mountain Marina, Lake Country Marina and Harbor One Marina. Combined, the marinas have 910 in-water slips, 242 indoor boat storage spaces, outdoor boat and trailer storage, fuel docks, ship stores, boat rentals, boat service centers and restaurants.Bryan Redmond, Suntex principal, said the company will make some improvements to the properties.This year, Suntex also bought Saylorville Lake Marina near Des Moines, Iowa; Crosswater Yacht Club on Lake Travis in Austin; and Bay Pointe Marina near Boston. It now owns and operates 15 marinas.Fort Worth hotel soldSummit Hotel Properties in Sioux Falls, S.D., has bought the 98-room Hilton Garden Inn at 4400 North Freeway in Fort Worth.The deal closed Oct. 23. The company paid Latitude Management Real Estate Investors $7.2 million for the hotel, built in 1998, and said it plans to spend another $2.4 million in renovations over the next 18 months.Summit owns eight other hotels in Dallas-Fort Worth, said its CEO, Dan Hansen."The strategy of clustering hotels in top markets such as this has proven to be successful for us and plays a key role in creating value for our investors," Hansen said.Summit has 82 hotels in 21 states with a total of 8,674 guest rooms.Transactions401 E. Division St./305 N. East St., ArlingtonRobert Lauterback has bought a 5,000-square-foot auto repair center on 18,000 square feet of land. It was sold by Wilkerson Automotive, which will now lease the property. Coy E. Garrett with Coy E. Garrett & Associates negotiated the deal.511 N. Watson Road, ArlingtonTriton Building Management has bought an 8,380-square-foot building from ANS Real Estate. Bill Behr with Transwestern represented the seller. Bryan Graham with CBRE represented the buyer.3030 Matlock Road, ArlingtonAffiliated Bank bought a 64,357-square-foot building from CIII Capital. Nathan Denton with Lee & Associates represented the buyer.9405 Sage Meadow Trail, Fort WorthSprint Spectrum has leased 2,800 square feet at Alliance Town Center. Michael Meadan with CBRE represented the tenant. Freemon Baker with Trademark Property Co. represented the landlord.7200 Wichita St., Fort WorthTastebud Ministries Church has bought a 5-acre tract for future use. Chris Stewart with Coldwell Banker Commercial Searcy Vasseur Group represented the seller, Ale Corp. Verne Garrison represented the buyer.Have more to add? News tip? Tell us
