El Rancho grocery store to anchor Felix Square shopping center

Posted Monday, Jun. 24, 2013  comments  Print Reprints
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An El Rancho grocery store and a bazaar operated by an Elgin, Ill.-based retailer are planned for the former Kmart shopping center at the southwest corner of Felix Street and Interstate 35W.

Now called Felix Square, the Hispanic-oriented grocery store will occupy a 34,000-square-foot building adjacent to a McDonald’s restaurant, and the bazaar will go in the 84,000-square-foot former Kmart, said Luis Pina of Accent Commercial Real Estate in Dallas.

Pina, Jake Jordan and a Houston investor, JSCAM, bought the 15-acre site in south Fort Worth, near Interstate 20, in October. Accent is managing and redeveloping the property.

Another multitenant building there will also be redeveloped, Pina said. Its tenants include Family Dollar, Metro PCS, ATI, Azteca Dental, a medical clinic and a construction uniform store.

El Rancho was founded in 1988 and has other Tarrant stores on Beach Street in Fort Worth and Park Row Drive in Arlington. Other stores are in Dallas, Austin, Lewisville, Cockrell Hill and Odessa.

Skywalker buys in Johnson County

Arlington-based Skywalker Property Partners has bought a three-building industrial complex totaling 144,500 square feet on 16.8 acres in Grandview out of foreclosure from U.S. Bank.

Skywalker said it will spend about $250,000 on upgrades and repairing the roofs. One building is leased to AES Drilling Fluids, and Universal Forest Products also leases space in the complex. Otherwise, the property is 88 percent vacant.

Michael Newsome of NAI Robert Lynn represented the buyer. He and Todd Hubbard of NAI Robert Lynn represented the seller.

Home building contracts up

April contracts for construction in North Texas for commercial construction declined by 2 percent, to $261.6 million, compared with a year ago, but residential contracts were up 38 percent, at $743.8 million, McGraw Hill Construction said.

This year through April, residential contracts for the 12-county region totaled $2.5 billion, up 22 percent from the same period a year ago, and commercial contracts totaled $1 billion, down 3 percent, the report said.

Transactions

728 111th St., Arlington

BSCS has bought a 35,000-square-foot industrial building. Kurt Cherry of PM Realty Group represented the buyer. Michael Stanzel of NAI Robert Lynn represented the seller.

119 Ranch House Road, Aledo

Hayes Exploration has leased 1,650 square feet of space. Dick Myers of Coldwell Banker Commercial Searcy Vasseur Group represented the landlord, Geoffrey Williams.

2401 Oakland Blvd., Fort Worth

Family Counseling Center Association has sold a 7,700-square-foot building to 555 Argetinos LLC. Gene Livens of Service Realty represented the seller.

1412 W. Magnolia Ave., Fort Worth

New Western Acquisitions has leased 2,960 square feet from Dwight and Lore Mitchell. Nathan Vasseur of Coldwell Banker Commercial Searcy Vasseur Group negotiated the lease.

186 Norwood Drive, Hurst

Atlas General Agency, an insurance firm, has bought a 12,000-square-foot office building. Kurt Cherry of PM Realty Group represented the buyer. Kent McKeever of Ellis & Tinsley represented the seller.

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

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