Majestic Realty Co. and joint-venture partner Hickman Companies, doing business as NFI, signed a long-term lease agreement with National Distribution Centers at the Fort Worth South business park, a 320-acre, master-planned development located just 2.5 miles south of the Interstate 20 and Interstate 35 interchange.
NFI, one of the nation’s largest third-party logistics providers, will occupy the remaining 129,143 square feet of the 258,000-square-foot-plus Building No. 5 located at 473 Successful Drive. In addition to its prime service location and easy freeway access, the building features modern industrial distribution and logistics space and amenities, including 40-foot clear height — unobstructed vertical space crucial for storage capacity.
Will Carney, Nathan Lawrence and Krista Raymond of KBC Advisors represented NFI in the long-term agreement while Majestic Realty was represented by its Fort Worth team including Kyle Valley, Cameron Pybus and Nada Leanndra.
“Working collaboratively with our partners at Hickman Companies, we continue to focus our development out in front of the market to deliver the product size, amenities and timing that high-quality, high-credit tenants like NFI are looking for as they grow their business,” said Majestic Realty’s Valley.
Majestic Realty and Hickman Companies have completed the development of 2.65 million square feet across eight properties during the first two phases of development at the park since 2018.
Hotel updates
Coury Hospitality, which owns several hotels in the area, including the Hotel Vin in Grapevine that is currently undergoing an expansion and downtown Fort Worth’s The Sinclair, announced that its Ricardo DFW Westlake Marriott hotel will undergo an $18 million renovation.
Also in the area, the company’s Southlake Hotel, a boutique property previously under the Cambria brand, will be rebranded as The Elmore Hotel, and become a Tribute Portfolio hotel by Marriott.
Cocktails and wine by the river
Business partners and friends Brian Torres and Chandon Sanders unveiled their latest venture: River’s Cocktail & Wine Bar, a new destination at 4850 White Settlement Road in Fort Worth’s River District. Named in honor of Torres’ son, River Torres, the bar had a soft opening on May 31 and will host its official grand opening in early July.
River’s is the pair’s second collaboration. They first joined forces in February 2022 when they acquired West 7th watering hole The Local. Sanders — who also owns Ninja Sushi Fort Worth — and Torres saw an opportunity to build something entirely new from the ground up in a fast-growing neighborhood.
“River’s is our way of giving back to the city that helped us grow, and I get to do that while honoring my son,” said Torres. “We wanted an energetic, inclusive spot where everyone — from cocktail aficionados to beer-in-hand sports fans — feels at home.”
Guests can expect inventive craft cocktails highlighting Texas spirits, housemade syrups, and seasonal produce.
Son of a Baker Pizzeria will operate River’s kitchen serving slices and whole pies until 2 a.m.
New multifamily planned
National multifamily developer Wood Partners announces its latest community, Alta River Park, in Fort Worth.
The multifamily community is set to break ground in June and deliver to the community in summer 2027.
“Fort Worth continues to experience strong demand for high-quality, well-located housing,” said Ryan Miller, managing director for DFW at Wood Partners.
Alta River Park will include 365 units, including a mix of studio, one-, two- and three-bedroom layouts. The complex is located just west of the Chisholm Trail Parkway and directly across from the Waterside Shopping Center.
In addition to community offerings, Alta River Park will feature a resort-style pool, pet facilities, a pickleball court, outdoor activity space, bike storage, a sky deck and direct trail access to the Trinity Clearfork trail system, an interconnected network of hike and bike trails spanning over 100 miles.
Shopping center acquired
Whitestone REIT, a neighborhood-focused owner and operator of open-air shopping centers in Texas and Arizona, acquired 5000 South Hulen, an 86,907-square-foot shopping center located as its name suggests, 5000 S. Hulen St.
The acquisition of the high-volume 5000 South Hulen marks Whitestone’s 29th asset in Texas — and 10th in the Dallas-Fort Worth metroplex.
“The addition of 5000 South Hulen aligns strategically with our investment thesis, allowing us to add scale in a thriving and fundamentally strong region of Texas, a state we know well,” said Christine Mastandrea, president and COO of Whitestone REIT. “We will leverage our deep relationships and market knowledge to unlock the full potential of the asset and look to re-merchandise where possible to ensure the center is adequately serving the long-term needs of the community.”
Located adjacent to Hulen Mall, the highest-visited mall within a 30-mile radius, 5000 South Hulen sits between two heavily traveled thoroughfares in Interstate 20 and Hulen Street, which collectively attract more than 182,000 vehicles per day.
More than 300,000 residents reside within a 5-mile radius of the center, with an average household income of $113,520, resulting in nearly $14 billion in spending power. The 5000 South Hulen shopping center is home to a mix of national and regional businesses, including Sephora, Old Navy, Barnes & Noble, Kincaid’s Hamburgers and Jamba Juice.
Do you have something for the Bob on Business column? Email Bob Francis, business editor for the Fort Worth Report, at bob.francis@fortworthreport.org.At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
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