X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

[IMGCAP(1)]NORTH RICHLAND HILLS, TX-One expansion and two new deals, totaling 20,118 sf, have pushed occupancy to 72.43% in the 292,154-sf Hills, a former mall with six buildings paced through a $1-million conversion into flex office space in the northeast Fort Worth submarket. The new catch is a combo deal filling 15,367 sf with a dialysis clinic and medical offices.

Texas Renal Dialysis Ventures took 11,367 sf for a new clinic while doctors of the North Texas Kidney Diseases Association got the 4,000-sf balance of the 10-year lease for the 51,353-sf building 4 at 6331 Grapevine Hwy., according to Chris Wright, senior associate with Stream Realty Partners LP in Dallas. Move-in is penciled for Oct. 1, he adds.

One-year tenant Winfree Academy Charter Schools, a Dallas-based operation with six campuses in the metroplex, has added 4,751 sf to its 17,170-sf lease in the 27,581-sf building 5 at 6311 Grapevine Hwy. Wright says the expansion runs co-terminus to the existing lease, which has at least five years left on the term. It too will get keys Oct. 1 to the extra room.

Wright tells GlobeSt.com that the former North Richland Hills Mall’s buildings at 6311-61 Grapevine Hwy., built in 1962, have had about $1 million sunk into their conversion in the past year by Fenton LLC of St. Louis. “We are slowly backfilling it with call center uses,” says Wright, who teams with Stream associate Franklin Swann on the assignment. “We have one big vacancy and we’re really out fishing for one tenant to take that one space.”

[IMGCAP(2)]The hard push is aimed at an 11,924-sf theater at 6363 Grapevine Hwy. “We think it will be call center or quasi-retail use,” Wright adds, citing the need for a deli or sandwich to fill in around the new tenant base and add an on-site amenity. The Hills’ other large opening is 43,958 sf in the 88,625-sf building 2 at 6341 Grapevine Hwy. The quoted rate is $10 per sf, triple net.

The Stream team assumed the assignment in spring 2007 when occupancy was 55.42%. Wright says the retooling into class B office space has delivered 49,750 sf of positive absorption to the project. “It shows the turnaround of the project,” he emphasizes. “And we have a couple big vacancies that will hopefully fill up soon.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.