Construction contracts on rise in North Texas

Posted Monday, Apr. 01, 2013  comments  Print Reprints
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Contracts for future commercial and residential construction recorded in February increased in the 12-county North Texas region, according to the latest reports from McGraw-Hill Construction.

For the month, $264.7 million worth of commercial construction activity was recorded, a 60 percent jump from February 2012, when $165.4 million in contracts was recorded.

Also, $533.1 million in contracts for residential construction was recorded, a 14 percent increase from $466.5 million for the same month a year ago.

For the first two months of 2013, the value of North Texas commercial construction contracts increased by 35 percent, to $515 million, while residential contracts were up 10 percent, to $1 billion.

Statewide, however, nonresidential contracts were down 3 percent to $827.1 million from the prior year. Residential contracts were up 10 percent to $1.8 billion in February.

Year-to-date, nonresidential contracts remained flat, and residential contracts statewide were up 13 percent to $3.7 billion from the same period of 2012, the report shows.

N3 buys Fresno center

Southlake-based N3 Real Estate, a retail real estate investment development firm, said it has partnered with Rich Development Enterprises and Gryphon Capital for a $60 million Target-anchored shopping center in California.

The 398,000-square-foot Marketplace at El Paseo in Fresno will include several junior anchor stores and is expected to open in March 2014.

Rich Development Enterprises specializes in power centers and grocery-anchored retail developments. Gryphon Capital is a privately held real estate company that specializes in the acquisition and development of shopping centers and mixed-use projects throughout the Western U.S.

N3 said it has developed more than 200 single and multitenant retail projects for national and local retailers, and owns and manages more than $200 million worth of retail projects.

Transactions

825 Ave. H East, Arlington

Case Paper Co. has leased 18,250 square feet of industrial space. Donnie Rohde with Holt Lunsford Commercial represented the tenant. Kacy Jones and Steve Koldyke with CBRE represented the landlord, First Industrial Texas.

3601 NE Loop 820, Fort Worth

J1 Energy, a gas and energy land lease company, has leased 2,338 square feet of office space. Sylvia Pell with Pell Realty Group represented the landlord, Parkway Commercial Realty.

2600 W. Seventh St., Fort Worth

D. Tattoff, a tattoo-removal business, has leased 2,166 square feet in Montgomery Plaza. Tey Tiner with UCR represented the landlord, RioKim Montgomery LP. Eric Fedro with CBRE represented the tenant.

2873 Tinsley Lane, Tarrant County

D&M Custom Homes has bought a 1.4-acre tract and Cooperstown Cages bought a 2.1-acre tract at the corner of Business U.S. 287 and Tinsley Lane. Todd Hawpe of Transwestern negotiated the deals.

1600 109th St., Grand Prairie

Protech Diamond USA has leased 12,168 square feet of industrial space. Will Dillard with Bradford Commercial Real Estate Services represented the tenant. Scott Voelkel with Foster & Co. represented landlord Howard Bock.

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