The sale of an Uptown office across from Klyde Warren Park could end up being North Texas’ biggest deal of 2025.
The Texas Capital Center building at 2000 McKinney Ave. was sold to Crescent Real Estate, the firm led by Fort Worth billionaire investor John Goff, according to Dallas County Deed Records.
Texas Capital Bank, the main tenant in the building, has a lease through 2040, according to the German-based seller Union Investment.
“We have successfully developed the Texas Capital Center over the past ten years or so, creating value for our fund investors,” Adam Irányi, head of investment management global at Union Investment, said in a statement.
D-FW Real Estate News
“The landmark transaction demonstrates the high quality of our global real estate portfolio.”
Union Investment bought the property in 2016 for about $226 million. The sale price wasn’t disclosed, but Union Investment said it “is above the latest valuation.”
That would put it above the next-largest sales price for a property this year, the $218 million sale of The Link at Uptown at nearby 2601 Olive St.
The 456,000-square-foot building is mostly used for offices with a small amount for retail. It includes a parking garage for up to 1,347 vehicles, Union Investment said. About 20% of the building is vacant.
New apartments coming to Fort Worth
Trademark Property Company announced the groundbreaking of Westbend Residences, a 321-unit apartment community in Fort Worth, earlier this month.
The project is on 3.5 acres along the Trinity Trails with direct access to Texas Christian University. It will be finished in early 2027.
Westbend Residences marks the second phase of the company’s mixed-use community. In 2016, Trademark redeveloped the first phase, which includes 281,000 square feet of office and retail space that is 100% leased to a mix of national and local tenants.
New Hispanic contractors HQ opens
The Regional Hispanic Contractors Association opened its newly remodeled headquarters at 2210 W. Illinois Ave. in Dallas in late September.
“RHCA has always been about creating pathways to opportunity,” said John Henry Martinez-D., president & CEO of RHCA. “This center will ensure Hispanic-owned and other small businesses and construction workers have the tools, resources and training they need to thrive in Texas’ growing construction economy.”
Apartments underway in Farmers Branch
SWBC Real Estate, LLC, has broken ground on The Royalton at Mercer Crossing, a 500-unit luxury apartment complex in Farmers Branch.
The project will span 9 acres and be built in two phases. The first phase will include 262 units.
The architect is Allen-based Cross Architects, and the engineer is John R. McAdams Company, which is based in Raleigh, N.C. Dallas-based Carleton Companies is the general contractor.
The development will feature a clubhouse that will include a business lounge with Wi-Fi, private workstations, fitness center, walking and biking trails, electric vehicle charging stations, and a four-story parking garage. The property is also adjacent to a 15-acre private lake.
New credit union opens in Mansfield
Arlington-based Texas Trust Credit Union has opened a new branch at 1051 N. State Highway 360 in Mansfield.
L. Keeley Construction designed the 2,600-square-foot branch.
The credit union has 6,000 members in Mansfield, the firm said.