Numbers show improvements in local housing industry
An industry-wide effort to reduce the number of new home starts to get existing homes off the market was apparent in recent numbers released by Metrostudy, a house tracking service.
Builders have started 22,739 homes in the past 12 months in North Texas, a 35.7 percent drop from the 12 months that ended in the third quarter of 2007 according to Metrostudy.
In the third quarter 2008 report, builders reportedly started construction on 5,551 homes, down 34.5 percent from the same period a year ago.
The inventory of new, unsold homes on the market is now at 17,602, down 27 percent from a year ago. The pace of selling new homes picked up in the third quarter and was the best quarter for home sales in 2008.
Builders closed on 7,185 homes in the third quarter, which was 28.4 percent less than a year ago, but 7.8 percent higher than the second quarter of 2008.
New wing joint opens in Fort Worth
Buffalo Wings & Rings is set to open shop at 2730 Western Center Blvd. in Fort Worth. The north Fort Worth restaurant – Buffalo Wings & Ring’s 41st U.S. location – will employ 40 people and has a seating capacity of 150 guests.
Tote inventor leases Fort Worth industrial space
Tote Systems, the original inventor of Intermediate Bulk Container products, equipment, systems and services, has leased 25,000 square feet of industrial space at 8821 Forum Way in Fort Worth. Tote Systems, which relocated from its Burleson location, moved into the space Oct. 1.
Jeff Givens and Amy Baker of NAI Huff Partners represented Tote Systems and Todd Lambeth at the Bradford Cos. represented the owner, Forum Way Industrial Partners.
DunkinÂ’ DonutsÂ’ new store
rises in White Settlement
In an effort to expand its Tarrant County presence, DunkinÂ’ Donuts has opened its first Tarrant County store at 9629 White Settlement Road in White Settlement.
According to a company release, the new retail store is part of the chainÂ’s plans to open more than 150 stores in the Dallas-Fort Worth area in coming years. The White Settlement store also features DunkinÂ’ DonutsÂ’ new design concept.
Downtown office building sold
TPPB LLC has purchased a 5,147-square-foot office building located at 1209 E. Belknap St. for owner occupancy. The building, which sits on 24,000 square feet of land, was sold by The Belknap Building Inc.
Verne Garrison of Verne Garrison Investments Inc. represented the seller in the transaction.
SCM Real Estate arranges office sale
Arlington-based SCM Real Estate Services has arranged the sale of an office property located at 4800 Blue Mound Road in Fort Worth. The property consists of a one-story, about 27,000-square-foot office building and 10 acres of land Theron Bryant of SCM represented both undisclosed parties in the transaction. The acquisition price was not released.
Innovative Developers remodels
two medical buildings
Fort WorthÂ’s Innovative Developers Inc. has remodeled one office location and is set to build a pathology laboratory at another location for Gastroenterology Associates of North Texas.
Innovative Developers has started construction of a 1,200-square-foot pathology lab addition to GANTÂ’s existing location at 900 W. Magnolia St. in Fort WorthÂ’s Medical District. The space plan and design were completed by Brad Rupay, executive vice president of Innovative.
Innovative Developers also has completed a 1,590-square-foot remodel project at 6445 Harris Parkway, GANTÂ’s Southwest Endoscopy Center. The new layout, also designed by Rupay, was to accommodate business growth.
InnovativeÂ’s Casey Herrell served as project manager at both locations and Gary Childress acted as superintendent.
California buyer purchases 27 acres for industrial expansion
Dallas-based Henry S. Miller Commercial (HSMC) has completed the sale of a 27-acre land parcel located in Blue Mound. The buyer, California-based Hearthstone Properties Delaware LLC, plans to use the property to expand its current industrial facility, which is used as an auctioning arena and storage facility for Truckcenter.com. The seller was Santa Barbara, Calif.-based Hilzer Family Trust. Pete Richardson and Drew Richardson of HSMC represented both parties in the transaction.
$6.8 million loan secured for Arlington apartment complex
The Dallas office of PNC ARCS has secured a $6.58 million loan for Silerwood Apartments in Arlington. Situated on about 7 acres, the property features 196 units; amenities include a swimming pool, a spa, a fitness center, a clubhouse and a sauna. The loan carries a seven-year term with interest-only payments for the first three years and a 5.93 percent interest rate. The lender was Fannie Mae; the borrower was not disclosed.
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