An entity tied to the nation’s largest homebuilder has purchased 5 acres near the Waterside shopping center with tentative plans to construct an office building.
The family of the founder of D.R. Horton bought the land from an affiliate of Trademark Property Company, the Dallas Business Journal reported. Trademark developed the 63-acre retail center at 3700 Vision Drive.
The buyer, HFO Waterside, traces to Douglas Reagan Horton, manager of the Horton Family Office and son of Donald R. Horton, the outlet said. The elder Horton died in May at age 74.
The land is also near the Shops at Clearfork and Fort Worth’s Trinity Trails.
“They just recently expanded the trails on the south side of the river to kind of extend it through into the Waterside development,” said Kirk Kelly of Transwestern, who represented Trademark in the sale.
Jordan Johnson of Fort Worth-based LanCarte Commercial represented the buyer and posted on LinkedIn that the land will become an “iconic family office building.”
The buyer plans to occupy the building itself, along with tenants. The development could run into obstacles due to easements on the property and setbacks from the Trinity River levee, which could complicate the layout and infrastructure.
Read more
Development
Texas
DFW has nation’s largest office pipeline
Another office building is in the works near the Shops at Clearfork. Simon Property Group, best known as a landlord for shopping malls, plans to build a 50,000-square-foot office building. CEO David Simon hinted in a recent earnings call that Wells Fargo will be a major tenant.
D.R. Horton, in partnership with Walton Global, acquired 140 acres northwest of Fort Worth in January. The site is expected to support residential development, marking another significant investment by the homebuilder in the region.
— Andrew Terrell