203,000-square-foot Fort Worth office property sold
In a joint expansion and consolidation move, Nuclear Logistics Inc. bought a 203,822-square-foot office/warehouse property in Riverbend Tech Center in northeast Fort Worth from Fort Worth-based Klabzuba Oil & Gas Inc.
Nuclear Logistics will move in December to 7410 Pebble Drive from four nearby locations, which total 65,000 square feet. Nuclear Logistics, founded in 1991 in Fort Worth, is the world’s largest third-party supplier of safety-related equipment for the nuclear industry. The company, which also performs equipment maintenance, has more than 130 employees.
Todd Lambeth, senior vice president and managing partner of the Bradford Cos., represented the seller in the deal.
“After an extensive search, Pebble Drive was selected because of its proximity to Nuclear Logistics’ employee base,” Lambeth said in a release. “The stand-alone building provides for future growth and has an outstanding corporate image.”
The 13-year-old building sits on nearly 7.8 acres at the corner of South Loop 820 and Texas Highway 121.
Lambeth initiated the sale by approaching Klabzuba Oil & Gas about the possibility of a sale to Nuclear Logistics, which had been searching nearly three years for a consolidation site.
Bank building sold in Forest Hill
Texas Stockyards Llano Ltd. purchased a 21,000-square-foot bank building and 10-lane motor bank located at 3217 California Parkway in Forest Hill from BREOF BNK2 Texas LP, a partnership of Brookfield Properties.
The single story building at Wichita Street and Interstate 20 in Forest Hill sits on 3.8 acres. JP Morgan Chase Bank will remain as a long-term lease tenant occupying 11,275 square feet of space.
Theron Bryant with SCM Real Estate represented Texas Stockyards Llano in the transaction. Bryan Graham with CB Richard Ellis represented the out-of-state seller.
During the feasibility period, Bryant represented also the new owner in a separate transaction to sell a condo interest to the city of Forest Hill. The city’s new facility containing 10,600 square feet will provide for a larger council chamber, additional offices and designated drive thru lanes for water department customers. Police and fire departments also are considering occupying space at the new facility, according to an SCM release. Renovations for the city of Forest Hill will begin immediately with a projected completion date of January 2010.
Former Kia dealership purchased
Dallas car dealer Clay Cooley purchased the property and buildings of the former Classic Kia car dealership at 1500 Interstate 20 in Arlington. The former Kia dealership is located just east of Cooper Street across the freeway south of the Parks Mall. The facility includes an 11,242-square-foot showroom, a 7,369-square-foot office, a 8,369-square-foot parts department and a 37,301-square-foot service area. Cooley owns a Buick, Pontiac, GMC dealership and a Suzuki dealership in Dallas.
The property seller, Southwest Securities FSB, was represented by Karen Simon, managing partner for the Fort Worth area for Bradford Commercial Realty Services and Trent Gilley with Woodcrest Capital. The buyer, Clay Cooley Family Trust, was represented internally. Terms of the transaction were not disclosed.
Showroom opens in Fort Worth
Morrison Supply Co., a Fort Worth-based distributor of plumbing, appliances and hardware, has opened its showroom at the intersection of Bryant Irvin Road and Vickery Boulevard.
The 16,000-square-foot showroom, modeled after an Italian villa, is two-stories and offers fixtures, hardware, appliances, home remodeling and building supplies, each set in its own vignette.
“… Each separate room of the villa will showcase a product group in a way that facilitates the selection process. It’s so much easier when the products are displayed in a hands-on and realistic home environment,” said Scott Sangalli, chairman and CEO of Morrison, in a release.
Construction for the project was completed by The Morrison Group and Sangalli led the architecture design.
Martial arts studio expands into Bedford
Ironside Martial Arts added a second location in northeast Tarrant County with the lease of 3,300 square feet at 1805 Airport Freeway in Bedford. Roger Smeltzer of Strategic Commercial represented the landlord in the transaction.
New Element hotel opens with LEED amenities
Starwood Hotels & Resorts Worldwide Inc. opened Element Dallas Fort Worth Airport North in Irving, the sixth Element hotel to open globally and the second in Texas.
Owned by Sava Holdings Ltd. and managed by Aquila Lodging LLC, the newly constructed 123-room hotel is among the first in the Dallas-Fort Worth area to pursue the U.S. Green Building Council’s Leadership in Energy and Environmental Design certification. The property is located at 3550 W. IH 635 in Irving.
Flan retailer cooks up new lease
Signature Flan leased 1,400 square feet at 518 Bedford Road in Bedford for its flan and pastry shop. Roger Smeltzer of Strategic Commercial represented the tenant and Clint Montgomery from Sperry Van Ness/Visions Commercial represented the landlord in the transaction. Terms were not disclosed.
Electronic trade, repair company leases Bedford space
Computer Cells and Beyond leased 1,080 square feet of space at 1745 Airport Freeway in Bedford. Roger Smeltzer of Strategic Commercial represented the landlord in the transaction.
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