FORT WORTH –LFP Properties has closed on 6.51 acres in northeast Fort Worth to develop a three-building office flex project along Loop 820, scooping up one of the longest stretches of freeway frontage in the corridor.
The rectangular site boasts 985 feet of frontage along Loop 820 and an additional 285 feet of direct access to Sandybrook Drive. Construction tentatively is slated to get underway by midyear 2023 on the as-yet unnamed project.
“There’s been no new flex product developed in this area for several years,” says Erik Blais, senior vice president of Dallas-based Bradford Commercial Real Estate Services and the buyer’s longtime broker.
Prior to closing, LFP Properties secured a rezoning that permits office/showroom and warehouse uses on the land, which is a half-mile north of Interstate 30 and four miles south of the TX 183/121 split. The site previously was zoned neighborhood commercial.
LFP’s plan calls for multi-tenant buildings, each about 16,000 sf. The preliminary design features suites ranging from 2,000 sf to 6,000 sf. Development options also include single-tenant and build-to-suit structures.
“A spec building is under consideration,” Blais says. “The activity in this corridor seemed to pick up as we went through the process so that’s an encouraging sign as LFP works to finalize development plans.”
LFP started eyeing the site about two years when it came to market. Barrett England of Vision Commercial RE DFW LLC represented the seller, 820 & Sandy Brook LLC.
The land is located in the heart of TxDOT’s $174 million expansion of Loop 820, with one lane in each direction being added along a four-mile stretch to help ease traffic congestion. The present-day traffic count hovers 122,000 vehicles per day and is growing with the ongoing development of Oak Ridge by LGI Homes, a single-family community with more than 350 residences.
“The demand for smaller office flex space will only get stronger,” Blais says. “We definitely are excited about getting this project off the ground.”