The development site at 1161 W. Hurst Blvd. sits along a North Tarrant County stretch of highway poised for expansion to a six-lane boulevard, according to the buyer, Keith Alexander, owner of K.B. Alexander Co. of Texas Inc. Alexander tells GlobeSt.com that the project, Stonehenge Hwy. 10 Business Park, will represent an all-in cost of $1.8 million for the Fort Worth-based construction company.
"That's why we think our spot is such a great location," says Rob Rutherford of Rutherford Realty in Southlake, TX, who brokered the site acquisition for the newly formed development partnership. The land, which was on the market several years, was tagged at $2.11 per sf or $265,000. Chris Stewart of Coldwell Banker Commercial Kelly Geren & Searcy in Fort Worth represented the local seller.
GSBS Architects LP of North Richland Hills, TX designed the park's single-story buildings, two with 12,150 sf and another set of 14,175-sf twins. The civil engineer is Ed Kellie & Associates of nearby Keller.
Alexander says the June groundbreaking is tentative because there is no plan to raise any spec space. The buildings, divisible to 2,025 sf, are on the market, are being quoted at $12 per sf, triple net for highway-fronting space and $9 per sf, triple net for spots in structures on the interior of the site.
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