New contracts for residential construction declined in March in North Texas as commercial contracts continued to lag behind 2013 levels, according to the latest McGraw Hill Construction report.
Commercial contracts in the 12-county region totaled $291.6 million, down 8 percent from $316.9 million in March 2013. Residential contracts for future building totaled $692.8 million, down 9 percent from $763.7 million a year ago.
Commercial contracts for the first three months of 2014 totaled $795.9 million, down 20 percent from the $1 billion for the same period of 2013. Residential contracts for the year to date total $1.9 billion, 2 percent higher than the year-ago period.
Area mortgage delinquency, foreclosure rates dropping
The mortgage delinquency rate in February for Fort Worth-Arlington dropped to 4.03 percent from 4.51 percent in February 2013, the latest CoreLogic foreclosure rate report says.
The rate reflects the percentage of loans 90 days or more delinquent.
The foreclosure rate for the area, which includes Tarrant, Parker, Wise, Hood, Johnson and Somervell counties, dropped to 0.86 percent, down from 1.16 percent in February of 2013, the report said. It was the second consecutive month that the foreclosure rate was below 1 percent.
The foreclosure rate represents the percentage of loans in the foreclosure process.
2301 N. Collins St., Arlington
Regional Finance Corp. has leased 1,278 square feet of retail space. Dan Avnery and Bobby Montgomery of NAI Robert Lynn represented the landlord.
2307 Central Drive, Bedford
Teflon Associates bought two office buildings totaling 3,456 square feet of space from Spring Associates. Teflon Associates owner Manny Etuokwu is using one building for his business, Hallmark Health Care. The other building is leased to dentist Gemma T. Dalton. Rob Rutherford of Rutherford Realty negotiated the deal.
9500 Ray White Road, Fort Worth
Ray Qerimi has leased 1,984 square feet of retail space in the Park Vista Plaza shopping center to open Ray’s Italian Restaurant. Rob Rutherford of Rutherford Realty negotiated the deal.
SWC Bryant Irvin Road and Loop 820, Fort Worth
CrossFit Chisholm Trail, a gym offering strength and conditioning programs, has leased 5,324 square feet of retail space in the CityView Centre shopping center for its second location. Gretchen Frankenthal of the Weitzman Group represented the landlord, Retail Plazas.
7451 N. Beach St., Fort Worth
Lonestar Mobile Pet Vet has leased 2,450 square feet of retail space. Dan Avnery and Bobby Montgomery of NAI Robert Lynn represented the landlord. Scott Jackson of Hudson Peters Commercial represented the tenant.
1021 Handley Drive, Fort Worth
J&J Leasing has bought a 29,700-square-foot building. Michael Newsome of NAI Robert Lynn represented the seller, Youghal Corp.
4200 Murray Ave., Fort Worth
MJT Holdings has bought a 12,000-square-foot building. Michael Newsome of NAI Robert Lynn represented the buyer. Todd Hawpe of Transwestern represented the seller, Andrew and Joyce Green.