April 16, 2014

Owner of Six Flags Mall property adds former Macy’s building

Fort Worth investor G.L. “Buck” Harris wants to turn the mall into Plaza Central, a Hispanic-themed shopping center.

A Fort Worth real estate investor who wants to turn the former Six Flags Mall property into a Hispanic-themed shopping center has added another building at the site.

G.L. “Buck” Harris, who once operated a large antique dealership in Fort Worth, has bought the two-story, 163,166-square-foot vacant Macy’s building at the former mall.

More than two years ago, Harris bought the nearly 364,000-square-foot center portion of the former mall and the former J.C. Penney anchor site from International Bank of Commerce, which foreclosed on the property’s previous owner, Tom Morris, in 2008.

The Macy’s building, which sits on 14.1 acres and was also a Foley’s department store, has been vacant for years. It was sold by a Dallas investor group called 2901 Division Llc., said Coy E. Garrett, with Coy E. Garrett & Associates in Arlington, who represented the seller.

According to deed records, Harris financed the deal with a $1.5 million note with 2901 Divison Llc. That group acquired the property in 2009 and had loaned money to Morris to help him buy the Macy’s space. In 2010, the group sold the building to a Carrollton-based investor called 14 Acres in Arlington but foreclosed in 2012 when it defaulted on a $1.9 million note, deed records show.

Harris has said he’s turning the mall into Plaza Central and has several tenants lined up.

Harris is involved in a lawsuit against Arlington over the development plans, alleging that the city stymied the project by requiring him to re-plat the property even though he didn’t own all of it.

Harris provided a re-plat, which was eventually approved by the Planning and Zoning Commission last fall, giving him the go-ahead to file for building permits and a certificate of occupancy.

The lawsuit is pending, but Harris was dealt a setback last month when a federal judge in Dallas ruled that he should have waited for a final plat decision from the city before suing.

Harris does not own all the former mall property or the other parcels around the perimeter. The former Sears space is owned separately, Dillard’s owns its space and operates a clearance center on the first floor, and Cinemark still operates a theater.

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