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White Settlement Road

Smit Shah Of Blazing Hospitality Acquires 8.666-Acre Development Site In Fort Worth From Core Spaces
SOLDDevelopment Site

Smit Shah Of Blazing Hospitality Acquires 8.666-Acre Development Site In Fort Worth From Core Spaces

White Settlement Road

Building Size

35,070 SF

Asset Type

Development Site

Closing

Oct 15, 2024

AI

The property asset involved in this transaction is an 8.666-acre development site located at the southeast corner of Academy Blvd and White Settlement Rd in Fort Worth, Texas. The property encompasses a total square footage of 35,070 and is strategically positioned near Loop 820, surrounded by a robust retail presence including Walmart, Home Depot, Albertsons, Aldi, and Dollar Tree.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: Not specified
  • Buyer: Smit Shah - Blazing Hospitality
  • Seller: Matt Pagoria - Core Spaces
  • Broker Representatives: Giancarlo Carrier​​​​o, CCIM & Taylor Cluff - DuWest Realty

This transaction highlights the involvement of DuWest Realty, which successfully facilitated the sale between Blazing Hospitality and Core Spaces. Blazing Hospitality plans to develop a shopping center featuring multi-tenant retail buildings, along with standalone restaurant, retail, and service tenants, contributing to the growth of the West Fort Worth region.

Players

Giancarlo Carrier​​​​o, CCIM

Broker

$2.7M

vol

4 deals

Broker

Fort Worth Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93