White Lodging has lassoed a 3.5-acre parcel in the Fort Worth Stockyards with plans for a hotel and restaurant and possible other uses.
Merrillville, Indiana-based White Lodging acquired the land at 400 E. Exchange Ave., next to the Armour & Co. building, which was recently converted into the headquarters for the U.S. Energy Development Corp. in a project led by Bennett Partners.
The land was acquired from Kairoi Residential, which had planned to use it for a second phase of its nearby apartment complex The Union at Stockyards.
Officials at White Lodging said the company is exploring plans to transform the site. In addition to a hotel and restaurant component, the company is considering more mixed-use destination amenities.
“The Stockyards represent a unique intersection of history and opportunity,” said Conner White, vice chair and chief investment officer at White Lodging. “We are thrilled to be part of shaping its next chapter with additional economic development and investment.”
White said the site has plenty of potential.
“Our vision is to create a place that celebrates the character of the district while introducing new experiences for visitors and locals alike,” he said.
This is the first project for White Lodging in the Dallas-Fort Worth area since the late 1990s. In Austin and San Antonio, White Lodging has 16 premium brand hotels and more than 20 independently branded restaurants, bars and rooftops. In total, White Lodging’s portfolio includes approximately 60 hotels, more than 50 restaurants and bars, and a collection of luxury ranches.
The Stockyards has attracted new developers to the area since a partnership between Majestic and Hickman companies began refurbishing the 70-acre core of the roughly 200-acre Stockyards National Historic District.
The area has seen tourism grow from 3 million visitors a few years ago to 9 million this past year.
Land dispute, Chapter 11
Village Homes of Fort Worth filed for Chapter 11 reorganization amid a state court proceeding over a disputed land sale that has impeded its operations. The filing was taken to preserve the value of the business as a going concern, continue operations and emerge quickly.
“This is not a decision we take lightly,” said Michael Dike, co-founder and president of Village Homes. “Chapter 11 is the responsible way to continue operations and preserve the value of the business while we work through an issue that has materially impeded the company’s operations.”
According to a statement from Village Homes, the issue stems from a 2024 contract to sell 100 vacant lots, the company name, and related intellectual property as part of a planned rebrand and retirement for one of Dike’s original partners.
The proposed buyer failed to close and Village Homes terminated the contract. Village Homes has since filed a declaratory judgment lawsuit to confirm the termination. The buyer responded by countersuing and filing a pending lawsuit notice against each of the lots.
Dike said the company plans to “come through this process intact and keep doing what we’ve done in Fort Worth for nearly 30 years: build timeless homes with integrity.”
Pancake and rattlers
The Ariat Texas Rattlers do more than just jump on the back of 1,500-pound bulls. They also make pancakes and raise money, in this case $25,000, which is what they have raised at their annual FFA Charity Pancake Breakfast for local FFA chapters since its start in 2023. This year’s proceeds will benefit the Arlington FFA chapter, supporting scholarships and youth leadership opportunities in agriculture.
Real estate deals
Aero Dynamix Inc. has renewed 22,867 square feet of industrial space at 3277 W. Euless Blvd. and 4,870 square feet at 2805 W. Euless Blvd. in Euless Industrial Park, Euless. Jason Finch, senior vice president of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord, Euless Industrial LLC.
Aero Dynamix employs about 100 night-vision professionals at the Euless facility.
Arlington-based Skywalker Property Partners has acquired two industrial assets in North Texas for its current value-add fund, The Leverage Strikes Back LLC. The fund manager set their tractor beam on two fully leased projects, totaling 95,000 square feet of small-tenant space, in Granbury.
Related
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