The 33,000-sf Wells Fargo Bank Building will come out of the ground at 901 W. Rosedale St. with the first floor fully committed to the financial institution and a full floor of spec space on the second level. "But at the end of the day, this will be pure absorption," Jim Eagle, president of Red Oak Realty LLC in Fort Worth, tells GlobeSt.com. Magnolia Green is a 12-acre village with a five- to seven-year build-out plan bounded by Rosedale Street on the north, Magnolia Avenue on the south, Hemphill Street on the east and Alston Avenue on the west.
Work got underway on bank's class A building within six months of Magnolia Green's first groundbreaking, Texas Cancer Care's 51,000-sf diagnostic and therapeutic center. The cancer center will deliver in February 2005 and the bank will be ready three months later. Magnolia Green is laid out as a mix of office, retail and loft-style residential positioned around a one-acre public park.
"I'd love to start a third building as soon as demand creates itself," Eagle says. The bank building's excess class A space is tagged in the low $20 per sf range, plus electric.The $5.1-million Wells Fargo Building was designed by Weldon Turner of Turner Boaz Stocker Architecture of Dallas with the Beck Group's North Texas team as general contractor. Tally & Associates of Dallas is the landscape architect.
The bank's 28,000-sf facility in Quicksilver Resources Inc.'s headquarters building at 777 Rosedale St. is on the market for $16 per sf, full service. With Fort Worth's office occupancy above 90%. interest already has been shown in the site.
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