Fort Worth investment firm buys Longview mall

Posted Monday, Jul. 08, 2013  comments  Print Reprints
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The Architecture Billings Index dipped in April but was back up in May, the American Institute of Architects says.

The index is a leading economic indicator of construction activity and reflects a nine- to 12-month lag between architecture billings and construction spending.

The May index score was 52.9, up from 48.6 in April. The higher the score, the higher the demand for design services, and a score above 50 indicates an increase. The new-projects index was 59.1, up from 58.5 in April, the group said.

“This rebound is a good sign for the design and construction industry and hopefully means that April’s negative dip was a blip rather than a sign of challenging times to come,” said Kermit Baker, the institute’s chief economist.

Local firm buys Longview mall

Morris-Floyd Capital Partners of Fort Worth has bought the 157,000-square-foot Longview Plaza on 15.5 acres in East Texas.

Originally developed in 1992 and expanded in 1999, Longview Plaza is fully occupied. It was sold by Longview Plaza Ltd.

“This is a property we have had our eye on for some time,” said Bill Morris, principal at Morris-Floyd. “This center complements our existing portfolio, which is now over 750,000 square feet.”

Museum Place refinancing

Sturdivant Capital of Fort Worth has arranged a $4.5 million, seven-year fixed-rate loan for the Modern Flatiron Building at Museum Place. Funds from the transaction were used to refinance a bank loan.

The four-story, mixed-use office and restaurant building, at 3131 West Seventh St., is owned by JaGee Holdings L.P.

Museum Place is a 12-acre development at the northwest quadrant of Camp Bowie Boulevard and Bailey Avenue, across from the Modern Art Museum. It includes One Museum Building in the 3100 block of West Seventh, a 166,000-square-foot, eight-story residential, office and retail building; a three-story condo building with a street-level 7-Eleven store at 3300 W. Seventh; and a 218-unit apartment community nearing completion near Arch Adams and Boland streets.

Tom Sturdivant owns Sturdivant Capital.

Transactions

3755 S. Cooper St., Arlington

Cesar’s Tacos has leased 2,432 square feet of retail space. Jon McDaniel of NAI Robert Lynn represented the landlord. Abbas Fakhri with Century 21 represented the tenant.

2213 Martin Drive, Bedford

Loving Care Pediatrics has leased 2,290 square feet of space. Sylvia Pell of Pell Realty Group represented the landlord, Ophtho Properties & Investments.

6009 Wedgwood Drive, Fort Worth

Jan Mar Properties has bought a 2,400-square-foot building where Martin Thompson will open a funeral home. Thompson has been in the funeral business for 37 years. Chris Stewart of Coldwell Banker Commercial Searcy Vasseur Group represented the buyer. Bill Tinsley of Ellis and Tinsley represented the seller, Sutherland Revocable Living Trust.

8309 Camp Bowie Blvd., Fort Worth

The Blue Astor furniture restoration business has leased 2,065 square feet in the Bowie West Center. Dick Myers of Coldwell Banker Commercial Searcy Vasseur Group represented the landlord, Flowcash Commercial.

5524 Midway Road, Haltom City

Soravy Xayprasith has leased 4,500 square feet for an auto repair shop. Jim Eaton of Ron Sturgeon Real Estate represented the landlord.

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

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