Kroger buys land at Burleson Commons for Marketplace store

07/06/2014 3:46 PM

07/06/2014 3:47 PM

Kroger has bought 13.3 acres at the Burleson Commons Shopping Center for a proposed 114,000-square-foot Kroger Marketplace.

The store will anchor the shopping center, at Texas 174 and Farm Road 731, along with Premiere Cinemas. Target, Home Depot, Office Depot and CVS are nearby.

Kroger Marketplaces also offer home fashion and decor, bed and bath items, kitchen and small appliances, home office supplies and toys.

Mark Reeder and Tyler Isbell of SRS Real Estate Partners represented the seller, Cullinan Properties and Burleson Commons limited partnerships. Danielle Deyarmin and Nate Collins represented Kroger in house.

Kroger has 213 stores in its Southwest Division and operates in 34 states and the District of Columbia.

Area home prices rise 9 percent in May

Fort Worth-Arlington home prices rose 9 percent in May from a year ago, the CoreLogic market data firm reported.

Month over month, prices rose 1.3 percent from April.

Nationwide, home prices rose 8 percent in May. And on a month-over-month basis, prices increased 1.4 percent in May, CoreLogic said.

Texas and nine other states had new home price highs, CoreLogic said.

“Home prices are continuing to climb across most of the country which has both positive and negative implications for the housing market,” said Anand Nallathambi, CoreLogic president and CEO. “While the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns.”

Construction contracts fall in May

Heavy construction contracts awarded in May in North Texas were down 42 percent from a year ago, and residential contracts were down 13 percent, according to McGraw Hill Construction. In May, $421.9 million in co-commercial contracts was awarded, compared with $732.4 million in May 2013.

The numbers improve a little on a year-over-year basis. In the first five months of 2014, $1.6 billion in heavy construction contracts was awarded, down 22 percent from $2 billion in the same period a year ago.

On the residential side, $3.5 billion was awarded from January through May, up 1 percent from the first five months of 2013, the report said.


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