Medical Towers to get extreme makeover
Building will become ‘medical condominiums’ in 2008
Crimson Healthcare LLC, a Houston-based national medical real estate development company, recently announced a multimillion investment plan to convert the medical office suites to “for own” medical condominiums. According to a Crimson press release, the 46,000-square-foot building will be renamed The Medical Towers at 8th Avenue, and will feature a freshly upgraded facade and redesigned interiors.
Design work has begun, with redevelopment to begin in early 2007. The project is expected to take 24 months. Exterior improvements include a new entrance canopy, added architectural details and upgraded landscaping. Plans for the interior include a redesigned lobby and restrooms, upgraded upper floors, new ceiling details and panel-wall applications. The names of the projectÂ’s architect and contractor were not disclosed.
All parking for the project will be on site, although an exact number was not disclosed.
Prices for the medical condominiums are expected to start at $175 per square foot, with individual suites ranging in size from 800 to 6,000 square feet. Current tenants will remain on the lease until its expiration, and some have already expressed interest in converting to ownership, said Carolyn Drushel, vice president of marketing and communications at Crimson Healthcare. The project is CrimsonÂ’s first in Fort Worth.
Regus Group acquires office space
The Regus Group, a provider of fully furnished and equipped office spaces, has purchased nine executive office suites in the Metroplex, including the CEO Fort Worth Centre at 5601 Bridge St. in east Fort Worth. The office suites are located on the third floor, and encompass approximately 19,000 square feet. Of the 11,000 square feet of rentable office space, 1,200 square feet is available. The third floor is approximately 90 percent occupied.
RegusÂ’ acquisition includes more than 500 offices across the Metroplex, with locations in Dallas, Plano, Frisco, Richardson and Irving. The spaces include individual offices and meeting, team and training rooms. The Regus Group, founded in 1989, has 750 business centers in 60 countries.
Hospice provider has plans to build, Village Creek space leased
In one of two recent transactions involving Coldwell Banker Commercial Kelly Geren and Searcy, Odyssey Healthcare of Fort Worth has purchased 1.68 acres along River Park Circle in southwest Fort Worth, and has plans to build a hospice care facility. The hospice provider, established in 1996, has more than 20 locations in Texas.
J. Searcy with Coldwell Banker Commercial Kelly Geren and Searcy represented Odyssey in the transaction, and Landry Burdine, with Burdine Realty LLC, represented the seller, JA/River Park Ltd.
Searcy also handled lease negotiations for a 25,000-square-foot space at Village Creek Business Park in southeast Fort Worth. Auto Parts Components will occupy the space. Searcy represented the landlord, Conti and Son Ltd. and Todd Lambeth, senior vice president of the Bradford Cos. Great Southwest office, represented the tenant.
Fitness center opens
F.I.T. Worth Fitness, a personal-training studio and fitness center, opened its doors Oct. 2 at 1900 8th Ave.
The 2,000-square-foot facility features cardio equipment, free weights and resistance machines. Work started on the space in early August, and plans for a 250-square-foot deck are also in the works, said co-owner Lawrence Kelly.
The gymÂ’s grand opening celebration is slated for Nov. 4.
Vintage Realty sells Westworth lots
Vintage Realty Group, formed in June 2006 by Ben Dyess, has teamed up with the Westworth Redevelopment Authority to market and sell lots in the Westworth Park Addition. The west Fort Worth gated subdivision, opposite Shady Oaks Country Club, has 105 lots, ranging from $180,000 to $315,000. Of the lots, 52 homes are under construction or completed. Christi Hardy with Vintage Realty Group is the sales associate for the Westworth Park homes and lots.
Home-showing service leases Euless space
Centralized Showing Service Inc. has leased 12,600 square feet at Westpark Centre at 150 Westpark Way in Euless. The company, which schedules more than 10 million home showings a year and has more than 80,000 Realtor members, will occupy 17 percent of the complex, which is 85 percent occupied.
Chris Wright of Stream Realty Partners LP represented the landlord, JAX Landmark, and Cliff Bogart, president of The Vanguard Commercial Group Inc., represented the tenant.
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