
Leasing continues as Westcliff Shopping Center changes hands
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One of Fort Worth’s oldest retail centers, Westcliff Shopping Center was acquired in October by Houston-based Partners Real Estate, formerly NAI Partners. It was acquired by the firm’s investment platform, Partners Capital. It was Partners’ first property acquisition in North Texas. In April, Partners Capital added Jess Dickie as vice president of acquisitions in its Dallas office with a focus on North Texas.
Ben Gehrke and Riley Dow of LanCarte Commercial will have the retail leasing responsibilities for the center.
“We’re looking forward to continuing the momentum we’ve created at Westcliff and working with Partners as they expand their footprint in DFW,” said Dow.
The Westcliff Shopping Center dates back to 1945, when J.E. Foster bought the land and formed the Westcliff Company.
Moreland’s Rexall Drug in a photograph from the 1950s at Westcliff Shopping Center. (Courtesy photo | University of North Texas Libraries, The Portal to Texas History)
Recent additions to the center include:
- Cowtown Marathon‘s corporate headquarters: 14,040 square feet.
- Self-Made Trainings: 12,520 square feet (set to open at the end of 2023).
- Fort Worth Dance Academy: 3,600 square feet.
- Batter and Beans: 920 square feet.
- High Sky Holdings: 1,200 square feet.
- Organized Nest: 805 square feet.
- Specialist Jewelry Clinic: 1,300 square feet.
Housing prices continue downward trend
October saw continued decreases in the housing market in Fort Worth, with the median price, number of active listings, and number of closed sales all down year over year, according to data from the Texas Real Estate Research Center at Texas A&M. The median Fort Worth home price was $330,000 for the month, down 2.9% from a year earlier.
Although active listings — homes available for sales — were down year over year in Fort Worth, those numbers were up in Tarrant, Johnson, and Parker counties.
“There’s less competition right now, because everyone is still waiting for the interest rates to come back down,” said Bart Calahan, 2023 president of the Greater Fort Worth Association of Realtors.
Do you have something for the Bob on Business column? Email Bob Francis at bob.francis@fortworthreport.org.
Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org. At the Fort Worth Report, news decisions are made independently of our board members and financial supporters. Read more about our editorial independence policy here.
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