104 posts categorized "Real estate"


Jetta Operating looking at new quarters in downtown Fort Worth

Anthracite Realty Partners, a real estate development firm owned by Jetta Operating President Greg Bird, has agreed to buy a downtown lot from The Fort Worth Club for an office building that would serve as Jetta's new headquarters. The energy producer has had offices in the Fort Worth Club Building since 1991. The property, now a parking lot, is three-quarters of a block bounded by Taylor and Lamar streets on the east and west, and by Sixth and Fifth streets on the north and south. FWC bought the property from the Star-Telegram in 2008. The sale is expected to close by the end of June pending due-diligence review. Terms were not disclosed. Bennett Benner Partners, a Fort Worth architectural firm, will handle the review and initial planning. The building under consideration would include some retail space and also a parking garage.

"Fort Worth has always been Jetta's home, and we are delighted about the potential of this new downtown Fort Worth development," Bird said in a prepared release, which said the intent is to develop a Class A multiuse office building. The release also quotes FWC President Tim Carter as saying the club "is excited about this opportunity to be able to provide our members, tenants and guests with access to additional secure and convenient covered parking." FWC already owns a 300-space parking garage attached to its building at 306 W. Seventh St.

-- Jim Fuquay


Area foreclosure and mortgage deliquency rates dropping, says CoreLogic

The number of mortgage holders in the six-county Fort Worth-Arlington region at least 90 days delinquent on their loans dropped again in January, according to CoreLogic real estate data firm.

In January, the latest month available, 4.15 percent of the mortgages were late, compared to 4.59 percent a year ago, CoreLogic said.

The foreclosure rate in the area was 0.9 percent, compared to 1.25 percent in January 2013. The foreclosure rate represents the rate of foreclosures among outstanding mortgages.

The national delinquency rate in January was 4.93 percent, down from 6.36 percent a year ago.

The national foreclosure rate in January was 1.97 percent, compared to 2.9 percent a year ago.

The area numbers include data from Tarrant, Wise, Parker, Johnson, Hood and Somervell counties.

_ Sandra Baker


Texas Capital Bank moving its downtown Fort Worth branch to One City Place

Dallas-based Texas Capital Bank this summer will move its downtown Fort Worth operations a couple blocks to the north, to One City Place at 300 Throckmorton St., becoming the first tenant in the recently renovated office building.

The bank has signed a 10-year lease for 20,000 square feet of office space, which includes a banking center on the first floor and commercial offices on the second floor. The 19-story building is part of the former Tandy Center and was last used by RadioShack for its headquarters. RadioShack sold the property in 2005.

The bank’s downtown operation has 30 employees and is currently located in The Tower, at 570 Throckmorton St. 

“One City Place is the perfect location for the Best Business Bank in Texas and we are looking forward to a bright future there alongside our clients and employees” said Jeff Moten, Texas Capital Bank’s Fort Worth regional president in a statement.

In February, PCCP, a real estate finance and investment management firm, said it was loaning $41.5 million to Spire Realty for tenant finish-out work in the 313,953-square-foot building.

Spire Realty bought the property in 2011, part of the 1.2 million-square-foot, three building City Place development. 

Terry Quinn, Eddie Tillman and Parker Handlin with Avison Young represented Texas Capital Bank. Matt Carthey and Geoff Shelton with Holt Lunsford Commercial represented the landlord, Spire Realty Group in Dallas.

_ Sandra Baker


Fort Worth-Arlington home prices rise nearly 9 percent in January, says CoreLogic

Fort Worth-Arlington home prices rose 8.6 percent in January from a year ago, according to the latest CoreLogic Home Price Index released Tuesday.

Home prices nationwide increased 12 percent in January in the index, which shows 23 months of consecutive year-over-year increases, CoreLogic said.

Texas, Louisiana and Nebraska set new record high home prices peaks in January, the report said.

 "Polar vortices and a string of snow storms did not manage to weaken house price appreciation in January," said Mark Fleming, CoreLogic’s chief economist. "The last time January month-over-month and year-over-year price appreciation was this strong was at the height of the housing bubble in 2006."

Anand Nallathambi, CoreLogic’s CEO, said home prices should continue to increase, particularly in the spring selling season.

“Excluding distressed sales, all 50 states and the District of   Columbia showed year-over-year home price appreciation for January. "

_ Sandra Baker


Fort Worth-Arlington area foreclosure and mortgage delinquency rates drop in December

Fort Worth-Arlington mortgage holders at least 90 days delinquent on their loans remained flat in December from November, but was down from December 2012, according to CoreLogic.

The mortgage delinquency rate, the percentage of loans more than 90 days late, was 4.17 percent in December. The rate was unchanged from November, but was down 0.43 percentage points from December 2012, CoreLogic said.

The U.S. mortgage delinquency rate in December was 5.03 percent, said CoreLogic, a real estate information, analytics and service provider.

The rate of Fort Worth-Arlington foreclosures was 0.99 percent in December, a decrease of 0.18 percentage points compared to December of 2012, when the foreclosure rate was 1.17 percent. The rate is well below the national foreclosure rate of 2.09 percent in December.

The Fort Worth-Arlington area includes Wise, Parker, Tarrant, Hood and Johnson counties.

_ Sandra Baker


One City Place developers receive loan to complete work on office tower

The developers of City Place in downtown Fort Worth have received a $41.5 million loan to complete work and lease One City Place, one of the former RadioShack headquarters at Third and Throckmorton streets.

PCCP, a real estate finance and investment management firm with offices in California and New York, said today it was loaning the money to Spire Realty Group in Dallas. Spire, a privately-held real estate investment and management company, bought the 19-story property in 2011.

One  City Place is a 313,953 square feet multitenant office building, and part of the 1.2 million-square-foot, three-building City Place development. The other tower is called Two City Place. The third building has street-level space for shops and restaurants and a parking garage.

RadioShack sold the property in 2005. The towers were built in the late 1970s. A now-demolished portion was once the Tandy Center outlet mall. 

Ron Bonneau, PCCP’s vice president, said the loan will provide funds for tenant improvements and leasing commissions. 

“The property is best-in-class for the area and has already attracted significant interest from potential tenants,” Bonneau said.

_ Sandra Baker


The Fort Worth-Arlington mortgage delinquency rate inches up in November

The number of Fort TX_FortWorth_19100_23104_201312Worth-Arlington mortgage holders more than 90 days delinquent on their loans fell to 4.17 percent in November, compared to 4.6 percent from November 2012, according to a CoreLogic report..

The rate inched up from 4.1 percent October. It was last above the current rate in March 2013 when it reached 4.3 percent, CoreLogic said.

Foreclosure rates in FortWorth-Arlington also decreased in November, CoreLogic said.

CoreLogic said the rate of FortWorth-Arlington area foreclosures among outstanding mortgage loans was 1.04 percent for the month of November,  a decrease of 0.15 percentage points compared to November of 2012 when the rate was 1.19 percent.

Foreclosure activity in FortWorth-Arlington was lower than the national foreclosure rate, which was 2.18 percent for November 2013.

_ Sandra Baker


Ernst & Young moving to Sundance Square's new Westbrook Building

FORT WORTH Ernst & Young has leased the top, sixth floor of The Westbrook Building on the west end of Sundance Square Plaza in downtown Fort Worth.

The 8,600-square-foot lease pushed occupancy in the newly-opened building at Third and Houston streets to 60 percent. Ernst & Young will also have access to 1,900 square feet of balcony space overlooking the plaza.

The accounting and consulting firm will move from the Wells Fargo Building nearby. 

“This is a great space with fantastic views of the new plaza so we know Ernst & Young will be very happy in this prime location,” said Johnny Campbell, Sundance Square president.

Robert Gamblin and Bill Booker represented Sundance Square. Glenn Dyke, Phil Puckett and Blake Lloyd with CBRE represented the tenant.

The Westbrook is named after the historic Westbrook Hotel built in the early 1900s and closed in 1969. Starbuck’s relocated to The Westbrook in November and Taco Diner will open this spring. 

_ Sandra Baker


Dallas-Fort Worth home prices up 9.7 percent in October in latest Case Shiller report

Dallas-Fort Worth home prices rose 9.7 percent in October from a year ago, according to the latest S&P/Case Shiller Home Price Indices report released today.

Nationwide, home prices were up 13.6 percent, the highest year-over-year gain since February 2006, the report said.

“Home prices increased again in October,” said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement. “However, monthly numbers show we are living on borrowed time wand the boom is fading.”

Dallas-Fort Worth home price increase in October was the highest since 2000, the report said.

However, home prices fell 0.1 percent in October from September in Dallas-Fort Worth, the report said. The area was among 10 cities that saw slight declines, while 10 other cities in the index posted positive monthly gains.

“The key economic question facing housing is the Fed’s future course to scale back quantitative easing and how this will affect mortgage rates,” Blitzer said. “Other housing data paint a mixed picture suggesting that we may be close to the peak gain in prices. However, other economic data point to somewhat faster growth in the new year. Many forecasts for home prices point to single digit growth in 2014.”

­_ Sandra Baker


Fewer Fort Worth-Arlington mortgage holders late on loan payments

The number of mortgage holders in FortWorth-Arlington late on their loan payments remained flat in October from September, but dropped significantly from the same period a year ago, according to CoreLogic research firm's latest figures.

The delinquency rate for loans at least 90 days late was 4.1 percent in October, the same rate as September, but 0.53 percentage points below October of 2012, CoreLogic said.

Fort Worth-Arlington foreclosure rate among outstanding mortgage loans was 1.02 percent, a decrease of 0.27 percentage points from October of 2012.

The national foreclosure rate in October was 2.15 percent and 0.95 percent in Texas.

_ Sandra Baker


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