ECONOMIC UPDATE
DECEMBER 2014
Data provided by Strategic Insight Group
Intelligence Research Partner of the Fort Worth Chamber of Commerce
In the Works
The luxury specialty retailer Neiman Marcus will headline a 500,000-square-foot upscale, open-air retail
center at the rapidly emerging Clearfork development near the Trinity River and the new Chisholm Trail
Parkway. Neiman Marcus gives a significant boost to what Clearfork’s developers believe will be a
premier site to live, work, shop and dine. Construction of the Neiman Marcus store and The Shops at
Clearfork is scheduled to begin next spring, with a grand opening planned in February 2017. Contis
predicted The Shops at Clearfork will generate $300 million in annual sales and create several thousand
jobs. The multiphase Clearfork plan includes 2 million square feet of office space, 1.2 million square feet
of retail and 2,500 multi-family residential units.
Fort Worth Business Press, December 4, 2014
Southside Bancshares Inc., parent company of Tyler-based Southside Bank, and OmniAmerican
Bancorp Inc., the holding company for OmniAmerican Bank of Fort Worth, have received all the
necessary regulatory approvals to complete their merger, the companies said Dec. 16. The merger is
expected to occur on Dec. 17. The merger, a stock swap deal valued at about $307 million, was
unanimously approved by the boards of directors of both companies in October 2014. The combined
company will have nearly $5 billion in assets and become the ninth-largest bank headquartered in Texas,
by deposits.
Fort Worth Business Press, December 16, 2014
Briggs Freeman Sotheby's International Realty announced Monday it plans to open a new Fort Worth
office in early 2015. The announcement occurred the same day that former Sotheby’s affiliate Williams
Trew was acquired by Dallas’ Ebby Halliday Real Estate. "The world views the D-FW Metroplex as
one market, but we understand each city has its own unique character and personality,” said President and
CEO Robbie Briggs in a news release. “Together, with the leadership and guidance of local businesses
and influencers, we can deliver our world-class brand and services to the world-class city of Fort Worth.”
Fort Worth Business Press, December 16, 2014
Expansions and Moves
FTS International Inc. has acquired J-W Wireline Co., closing an acquisition that boosts Fort Worthbased FTS’ wireline capacity more than tenfold. The deal also extends FTS’ wireline service to all
locations where it offers hydraulic fracturing services, including the Permian Basin; Eagle Ford,
Marcellus, Utica and Haynesville shales; and various mid-continent plays.
Fort Worth Business Press, December 8, 2014
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TTI, a global distributor of electronic components that’s owned by Warren Buffet’s Berkshire
Hathaway, has bought 45.8 acres in the Mercantile Center Business Park in north Fort Worth for a
major expansion. Spokeswoman Cathy Walensky said some consolidation of the company’s three north
Fort Worth locations will take place there. TTI employs about 870 workers locally.
Star-Telegram, December 13, 2014
The Wild Mushroom Steakhouse and Lounge has moved from Weatherford to a 4,339-square-foot
location in the Ridglea Village Shopping Center at 3206 Winthrop Ave.
Star-Telegram, December 29, 2014
On the Dotted Line
National Oilwell DHT has leased 2,547 square feet of office space at 4055 International Plaza.
Star-Telegram, December 1, 2014
Austin-based Matthaeus Capital has leased 1,070 square feet of office space at 120 W. Third Street.
Star-Telegram, December 1, 2014
SC2 Command Group has leased 8,000 square feet of industrial space at 3201 May Street.
Star-Telegram, December 1, 2014
Mereken Energy sold 31 acres to California Expanded Metal Products Co. at 8600 Will Rogers Blvd.
Star-Telegram, December 1, 2014
Electro Tech Services sold a 35,000-square-foot industrial building at 5116 Northeast Parkway to SE &
AE Investments of Fort Worth.
Star-Telegram, December 1, 2014
Industrial Property Trust has bought a huge distribution center in CentrePort in east Fort Worth leased
by Fort Worth-based Pier 1 Imports.
Star-Telegram, December 2, 2014
New Barn Llc and Old Fort Worth Redevelopment sold 0.59 acres at 1209 and 1215 St. Louis Ave.
and at 1200, 1204 and 1212 Galveston Ave. to Hatfield Properties.
Star-Telegram, December 8, 2014
Harvest Supply Co., a 75-year-old gardening distributor headquartered in Fort Worth, has been
purchased by BWI Companies Inc., a similar distributor based near Texarkana, Texas.
Fort Worth Business Press, December 8, 2014
Aviation Technical Services of Everett, Wash., has acquired Texas Air Composites Inc., a Fort Worthbased domestic 145 repair station specializing in structural fabrication, support and repair for regional,
commercial and military aircraft.
Fort Worth Business Press, December 9, 2014
Holliday Fenoglio Fowler LP has arranged financing for The Lancaster and White Buffalo, two Fort
Worth apartment communities operating and managed as one property. HFF worked on behalf of the
borrower, Bell Partners Inc., to secure the seven-year, fixed-rate acquisition loan through New York
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Life Insurance Co. The Lancaster and White Buffalo, at 2901 Bledsoe St. and 1020 Currie St.,
respectively, are near the West Seventh Street Corridor and about two miles from downtown.
Fort Worth Business Press, December 10, 2014
At Presidio Junction in far north Fort Worth, Idaho-based grocer Winco Foods has bought 10.1 acres at
the southwest corner of Presidio Vista Drive and Tehama Ridge Parkway, and Oklahoma City-based
Hobby Lobby has bought 13.3 acres at the northwest corner of Presidio Vista Drive and Interstate 35W,
deed records show.
Star-Telegram, December 15, 2014
The Corner Vet has leased 3,000 square feet of office space at 6370 N. Beach Street.
Star-Telegram, December 15, 2014
Blue Mound Business Centre has several new tenants including Stewart Custom Cabinetry, 4,000
square feet; Deborah Nickels Auto Sales, 4,000 square feet; Arthur Hale, 1,200 square feet; Lightening
Oil Field Services, 4,000 square feet; and Jason Poynter, 3,200 square feet.
Star-Telegram, December 15, 2014
Yaw L.P. has bought a 10,000-square-foot building at 6850 Corporation Parkway from Parkway Group.
Star-Telegram, December 15, 2014
Jakes Uptown burgers leased 5,000 square feet in Western Center, at 6600 North Freeway, for its
second Fort Worth restaurant.
Star-Telegram, December 22, 2014
MS Energy Services has leased 1,800 square feet of office space in the Sycamore Building at 137
Sycamore School Road from A&J Partnership.
Star-Telegram, December 22, 2014
FitMarc, a fitness and wellness consultant, has leased 9,600 square feet of warehouse space at 3900
Benbrook Highway from Tarantula Investments Group.
Star-Telegram, December 22, 2014
Health Education Learning Project has leased 2,708 square feet of office space at 1717 S. Main Street
from Old Fort Worth Redevelopment.
Star-Telegram, December 22, 2014
Norma Stone has leased 2,250 square feet for a floral wholesale business at 5524 Midway Road.
Star-Telegram, December 22, 2014
Kairos Homes leased 1,529 square feet in Fossil Creek Center at 3345 Western Center Blvd.
Star-Telegram, December 29, 2014
Saade Brothers Development bought 1.5 acres at 137 McPherson Road from Charter Ventures.
Star-Telegram, December 29, 2014
Karten Psychological Services leased 1,285 square feet at 4304 Airport Freeway from JHS Ventures.
Star-Telegram, December 29, 2014
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Equify, an equipment finance company serving the construction and oil and gas industries, has leased the
21,328-square-foot 39th floor of the office tower at 777 Main Street.
Star-Telegram, December 29, 2014
An Atlanta-based commercial real estate firm bought the 40-story 777 Main office building in downtown
Fort Worth on December 30, the day after a judge ordered that the sale could go ahead. Cousins
Properties said it sold the 980,000-square-foot building for $167 million to the Brookdale Group in
Atlanta. Cousins said it paid $160 million for the property in September 2013.
Star-Telegram, December 31, 2014
Openings
Wingstop has opened a new Fort Worth location, with the 2718 E. Berry St. store joining more than 680
stores worldwide.
Fort Worth Business Press, December 1, 2014
The Cheesecake Factory, the popular international chain that just opened its first Fort Worth store Dec.
9 in Sundance Square to big buzz, had been on the “hit list” for a long time, Sundance CEO Johnny
Campbell said. “Ten years ago, Cheesecake Factory had absolutely no interest in Sundance Square and
probably very little interest in Fort Worth, Texas,” Campbell said. But downtown has continued to grow,
and the opening last year of the new Sundance Plaza, festively lit and ringed with office spaces,
restaurants and shops, added to the draw. Sales generated by Sundance’s 500,000 square feet of retail
space were up 19.6 percent through October, compared with the same period last year, Campbell said.
Fort Worth Business Press, December 13, 2014
Around Town
Tandy Leather Factory Inc. of Fort Worth has reported November sales of $8.4 million, up 11 percent
compared to $7.6 million in the same month last year. Year to date, sales are up 5 percent, from $70.9
million last year to $74.8 million in the current year.
Fort Worth Business Press, December 4, 2014
Sutton Frost Cary LLP Certified Public Accountants and Consultants of Arlington has completed its
merger with accounting firm BR Powell & Associates of Fort Worth. Powell officially became part of
SFC on Oct. 31. “Our joining forces with Powell represents the coming together of two highly respected
firms in the industry. We will continue to provide the highest quality of service to our clients with a
greater ability to draw upon the resources for which both firms are well known,” said Managing Partner
John Sutton.
Fort Worth Business Press, December 8, 2014
Downtown Fort Worth leasing remains strong on news that Transwestern has completed almost 40,000
square feet of new lease transactions since June, according to the real-estate firm. Year-to-date, the Class
A office market in Fort Worth’s Central Business District has reached a positive net absorption of
62,650 square feet, compared to nearly 220,000 square feet of negative absorption in 2013, according to
Transwestern. Meanwhile, the overall Class A vacancy rate rose from 12.1 percent in early 2013 to its
current rate of 17.4 percent.
Fort Worth Business Press, December 10, 2014
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Construction in Fort Worth continues to gain momentum, according to a Dallas firm that’s the latest to
marvel at Cowtown’s post-recession comeback. “Construction is way up. There’s tons of activity,” said
Kyle Masters, director of business development with McCarthy Building Companies Inc. Masters cites
Fort Worth as ahead of many municipalities in both the construction-manager-at-risk approach and
construction activity. The general contractor firm of Muckleroy & Falls in Fort Worth also noticed an
increase in projects since the recession. “There’s just some pent-up demand. The state of Texas has got a
reputation for favoring business, and I think there’s a lot of growth coming that way,” Harold Muckleroy,
founding partner and CEO of Muckleroy & Falls said.
Fort Worth Business Press, December 13, 2014
Out of Town Reporting
Fort Worth came in as the top big city in the nation for population growth between 2000 and 2013,
boasting a 42.34 percent increase. On Thursday, the U.S. Census Bureau released a ranking of the
fastest-growing cities in the country, putting Cowtown at the top of the list. It dwarfed Austin, which
came in third, by nearly 15 percent, and had more than double the gain of San Antonio, which came in
fourth. Dallas was also left in the dust by its neighboring city, taking 24th with 2.83 percent. Still, it
shows the mass migration to Texas and North Texas specifically. When looking at why DFW is bringing
in thousands of new residents every year, the refrain remains the same from several sources: jobs, jobs,
jobs.
Dallas Business Journal, December 4, 2014
Did You Know?
Twelve Tarrant County businesses have been named finalists for the Fort Worth Chamber of
Commerce’s 2015 Small Business of the Year Award. Winners will be announced at a reception prior
to Mayor Betsy Price’s State of the City address March 4, 2015 at the Fort Worth Convention Center.
Finalists were selected by a group of business professionals, MBA or Entrepreneur Center students at
TCU’s Neeley School of Business and past award winners who are members of the Small Business
Council Committee. Sponsors for the 2015 Small Business of the Year Award program are Northstar
Bank, TCU’s Neeley School of Business, Tarleton State University-Southwest Metroplex Center, the
Renaissance Worthington Fort Worth Hotel and the Fort Worth Business Press.
Fort Worth Business Press, December 1, 2014
A survey of hiring trends in the Dallas-Fort Worth area indicates a sharp increase in information
technology workers in the first half of next year. The survey, the Robert Half Technology IT Hiring
Forecast and Local Trend Report, shows that 27 percent of Dallas and Fort Worth-area chief
information officers (CIOs) surveyed recently plan to expand their IT teams in the first half of 2015. This
is up 17 points compared to projections from the previous six-month period (July - December 2014).
Fort Worth Business Press, December 2, 2014
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