A Fort Worth-based investment firm has parted ways with 4 acres earmarked for development just east of the city limits.
Bridge Cap Partners sold 2525 Handley Ederville Road in Richland Hills to G-Catch, an entity tied to local businessman Andy Hickson, whose firm plans to leverage the site’s zoning to build a mix of retail and flex office, the Dallas Business Journal reported.
Hickson, described by Forrest Cook of Stream Realty Partners as an “established player” in the DFW real estate scene, was attracted to the site for its zoning, which allows for a range of uses such as light industrial and retail.
Flex space, which combines office and industrial functions, has become increasingly popular as businesses seek adaptable environments that can serve a variety of duties.
The sales price was not disclosed, but the land was last appraised at $606,333, according to the Tarrant Appraisal District. The transaction, which closed in June after three months on the market, was facilitated with Younger Partners’ Michael Ytem representing Bridge Cap, and Stream Realty Partners’ Forrest Cook representing G-Catch.
The development site is across the street from the Tarrant Appraisal District offices and is the former site of a 150,000-square-foot Advanced Foam Recycling building that was damaged by a fire in 2021. The site was razed the following year and then acquired by Bridge Cap.
With zoning that supports diverse business uses, the site is poised to attract tenants looking for flexibility and access to the bustling metroplex.
“East Fort Worth continues to be a highly sought-after industrial market due to high barriers to entry coupled with excellent labor and connectivity with the Dallas-Fort Worth metroplex,” Cook said.
— Andrew Terrell
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