The owner of Cowboys Dancehall in Arlington has been looking for a new location for a couple of years but says the process will speed up now that General Motors has bought the 11.5 acres where the nightclub sits.
Kari Wade, a director with Cowboys Dancehall, said the club’s officials would like to stay there, across Abram Street from the GM assembly plant on the west side of Texas 360 but acknowledges that’s probably not going to happen.
The club has been on a month-to-month lease with the former owner but has not yet had contact with GM, Wade said.
“We have reached out to them,” she said. “We’d like to stay for a while. We want to stay in Arlington.”
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Wade said the owner has a couple of locations in mind, but she did not elaborate.
She said GM has been a good neighbor in the 21 years the club has been across the street. A few times when the club has had big shows, GM has let the club use its parking lot.
“I’m glad it was GM that bought the building,” Wade said. “They were easy to deal with and easy to work with.”
GM bought the property at 2540 E. Abram St. from SLJ Co. in Dallas this month.
Joint venture group buys property in Oakhurst neighborhood
2GR Equity, a real estate investment firm based in Grapevine, has formed a joint venture with Dallas-based developer Legacy Capital Co. to buy about 4 acres at the northeast corner of east Belknap Street and Oakhurst Scenic Drive in Fort Worth.
The site overlooks the Trinity River at Riverside Park.
“We believe this area will see significant gentrification and redevelopment over the coming years, and we are happy to be in on the ground floor of that process,” 2GR principal Elizabeth Roll said.
Smoke Pit BBQ restaurant and many automotive-related businesses are on the property now, in addition to a vacant building and land available for lease.
This is the second land investment in the Fort Worth market made by a 2GR Equity-Legacy Capital partnership. In November, they partnered on a recapitalization of an existing partnership owning 72.6 acres at Sycamore School Road on the new Chisholm Trail Parkway.
This is the 13th transaction closed by 2GR Equity since it was founded in 2011. The firm said it has provided joint-venture equity on commercial real estate transactions representing about $100 million in total capitalization.
Mansfield property sold
The building that houses Mansfield Dental Care, Greek Cafe and Subway at 1050 Country Club Drive in Mansfield recently sold to JK Country Club LLC of Fort Worth.
The retail center was sold by TB3SW, Partners, an entity of Wilson & Stonaker LLC. Wilson & Stonaker was responsible for developing the Tom Thumb-anchored center in 2002. Steve Fithian of Sperry Van Ness/Visions Commercial and David Cook of Sperry Van Ness/David Cook Co. represented the seller.
The building is 5,165 square feet on 1.26 acres at the southeast corner of U.S. 287 and Walnut Creek and Country Club drives in Mansfield. It was built in 2007.
Sperry Van Ness/David Cook Co. LLC specializes in selling office, industrial and retail properties in Dallas-Fort Worth. The company has been in business more than 35 years.
1201 Sturgeon Court, Arlington
Killer Hot Rods has leased 7,533 square feet of office/warehouse space in the Sturgeon Industrial Park. Phil Young and Jordan Foster of Peyco Southwest Realty represented the landlord.
6409 W. Poly Webb Road, Arlington
Licensed Child Care Advocacy Group has leased 4,609 square feet for a day care/school. Phil Young and Jim Maibach of Peyco Southwest Realty represented the landlord. Troy Morgan of Structure Commercial represented the tenant.
5230 Denton Highway, Haltom City
Ron Sturgeon Real Estate has bought a 20,000-square-foot building. Jordan Foster of Peyco Southwest Realty represented the buyer. Pam Bookout of Coldwell Banker represented the seller, Greenwich Investors XLV REO.
6701 Exchange Drive, Mansfield
Nath Specialty Coatings has leased 16,000 square feet of industrial space in the 1187 Peyco 1187 Industrial Park. Jordan Foster and Jim Maibach of Peyco Southwest Realty represented the landlord.