Tablet Business

Chesapeake Energy sells more of its Historic Stockyards holdings to local investors

Oklahoma City-based Chesapeake Energy has sold some more of its holdings in the Historic Stockyards District in north Fort Worth to some Stockyards investors calling themselves Niles City Resort Ltd.

The group registered with the state in April and lists Don Jury as president. It bought 16.8 acres in late September at 400 E. Exchange Ave., site of the former sprawling Armour meatpacking plant and later Bunge Edible Oil Co., according to deed records.

The purchase was financed with a $2.69 million note with First Bank Texas in Bedford, deed records show. That note was signed by Phillip Murrin, president of Niles City Management Co., the general partner of Niles City Resort, deeds show.

The Murrin family owns other land in the Stockyards. Last month, the family also bought 9.3 acres at 600 NE 23rd St. from Chesapeake. The land is adjacent to Murrin's River Ranch property, at 500 NE 23rd St.

The Hickman family, which also has Stockyards holdings, and Majestic Realty Co. are planning $175 million in development in the Stockyards.

Holt Hickman, Don Jury, Steve Murrin and Billy Minick partnered in the late 1980s to invest in Billy Bob’s Texas and reopened the financially troubled honky-tonk.

Chesapeake bought the Bunge Oil property in 2007 as a potential drill site but demolished the structure four years later. Chesapeake also considered the site for its regional headquarters. Earlier this year, Chesapeake sold a 20-story office tower in downtown Fort Worth to Houston-based Hines that it used for its Barnett Shale operations. The building is now fully leased to Pier 1 Imports, which originally developed the office building.

The Armour meatpacking plant opened in 1903 alongside the Swift & Co. plant on the east side of the Stockyards and closed the facility in 1962. Bunge Edible Oil refined soybean and corn oil there for more than 30 years.

Hulen Pointe Shopping Center bought by Addison-based investor

Hulen Pointe Shopping Center in southwest Fort Worth has been sold to an Addison-based company.

The shopping center, on South Hulen Street near Hulen Bend and Oakmont boulevards, was bought by TriMarsh Properties. It was sold by Austin-based Wes Walters Realty. A sales price was not disclosed. It was nearly 48 percent occupied at the time of the sale.

Hulen Pointe comprises four buildings totaling 174,783 square feet. Anchor tenants include Dollar Tree, Dickey’s BBQ, State Farm and Great Clips. More than a quarter of the tenants have occupied space at Hulen Pointe for more than 10 years.

“We are ready to lease about 45,000 square feet to national tenants and bring the center’s occupancy to 80 percent,” said Bo Avery with TriMarsh Properties.

Jennifer Pierson, Beth Pierson and Cameron Deptula of CBRE represented the seller.

Architects win 4 of 7 awards

Bart Shaw Architects in Fort Worth received four of the seven awards presented recently in an annual design competition of the American Institute of Architects Fort Worth.

The firm received two Citation Awards and two Studio Awards.

Fort Worth firms Bennett Benner Partners Architects + Planners received a Merit Award, as did Ibañez Architecture. Norman Ward Architects in Cresson also received a Citation Award.

Arlington group sells Dallas building

Less than a year after buying the property, Arlington-based SkyWalker Property Partners have sold the 111-year-old former Hughes Brothers Candy Factory building in Dallas.

When it bought the property in November, SkyWalker Property said it planned to spend $3.2 million to turn the property, at 1401 S. Ervay St., into residential units.

Instead, Flint Hills Development Group approached SkyWalker Property about buying the five-story, 7,000-square-foot building in one of Dallas’ oldest neighborhoods. It has been vacant since 2000. The candy factory opened in 1903 and closed during the Great Depression.

"The location and robust redevelopment activity in the Cedars neighborhood clearly worked to our investors' advantage," said Clint Holland, SkyWalker’s acquisitions director. "The offer was such that it made sense to sell."

Transactions

North Cooper Street and Road to Six Flags, Arlington

Healthways Inc. has leased 2,473 square feet in Skymark Tower. Kurt Cherry and Brittany Ricketts of PM Realty Group represented the landlord, CSFB Skymark Tower 2007-C2, Llc.

1515 Ave. S, Arlington

Great Alliance Solutions has leased 10,434 square feet of warehouse space from DCT-TX 2004 RN Portfolio I L.P. Michael Spain and Jim Ferris of Bradford Commercial Real Estate Services represented the landlord. Will Dillard of Bradford represented the tenant.

320 Dixon Lane, Arlington

Pompa R Holdings Partnership has sold an 8,680-square-foot office/warehouse to Serena Property Management. Chris Mendez and Theron Bryant of Coldwell Banker Commercial Alliance DFW represented the seller. Beth Elkassih of the Michael Group represented the buyer.

8312 Camp Bowie West, Fort Worth

RWK Texas Properties has bought an 8,500-square-foot building from 8312 Camp Bowie Llc. Nathan Vasseur of Coldwell Banker Commercial Searcy Vasseur Group represented the seller. Steve Turnbow of MGM Equity Partners represented the buyer.

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