Worthington Bank is building a corporate headquarters at the Walsh development in far west Fort Worth, a milestone in the 7,200-acre master-planned community.
The Fort Worth-based bank plans to occupy two floors in an eight-story office development at the corner of Interstate 30 and Walsh Ranch Parkway, an area that is prime for growth given the number of residents commuting from suburbs to downtown Fort Worth, the Dallas Business Journal reported.
“There’s basically no commercial development between Fort Worth and Aledo,” Worthington CEO Greg Morse said, noting that the idea to build its HQ in Walsh has been in the works for years.
The 96,000-square-foot development is expected to cost $55 million, or $572 per square foot, and it is estimated to take about three years to build.
Despite plans to only occupy two floors, Morse said the remaining space is already generating strong interest from potential tenants, including two floors for a law firm, a top floor for a restaurant, and space for several title companies.
While no leases have been signed yet, letters of intent are reportedly in place. Leasing efforts are being handled by Holt Lunsford Commercial’s Vic Meyer and Jake Neal.
The University of Texas at Arlington’s planned 51-acre campus, UTA West, is a strategic advantage for the project, Morse said. The campus, once fully developed, could host up to 12,000 students, further driving demand for commercial activity in the area.
The community is taking shape on land that was previously the Walsh family ranch. A 40,000-square-foot Cook Children’s location has already been developed there, as well as some apartments, the outlet reported. Developer the Walsh Companies is led by CEO Ryan Dickerson.
Worthington Bank is headquartered in downtown Fort Worth’s Sundance Square, at 500 Main Street, which is known as the Burk Burnett Building, constructed in 1914. While the Walsh building will become the bank’s base, the company will maintain its downtown presence.
— Andrew Terrell
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