Sept. 15--Albertsons, the privately-held chain of grocery stores that announced last week it's buying Lubbock-based United Supermarkets, also recently bought a warehouse in the Carter Industrial District in south Fort Worth last month that it once owned.
Boise, Idaho-based Albertsons bought the 1.2-million-square-foot warehouse at 7220 Oak Grove Road that it built in 1989 from Associated Wholesale Grocers in Kansas City on Aug. 20, deed records show. The property sits on 92 acres. Albertson's sold the warehouse in 2007.
The deal with United Supermarkets brings 50 stores, including Market Street in Colleyville, and two distribution centers, including one in Roanoke. The stores will operate as an independent unit. The deal is scheduled to close in October.
United Supermarkets bought land off Freedom Drive in the Roanoke section of Alliance in November 2009 and developed a 200,000-square-foot distribution center.
Albertsons is owned by the private equity firm Cerberus Capital Management, which also owns Acme, Jewel-Osco and Star-Market.
Number of underwater Fort Worth-Arlington mortgages falling
About 4.6 percent of residential properties with a mortgage in Fort Worth-Arlington were "underwater" at the end of June, down significantly since the end of March, according to CoreLogic real estate research firm.
That means 17,340 residential properties were in negative equity, meaning borrowers owed more on the mortgage than the property is worth.
The number of underwater properties has decreased considerably since the end of the first quarter, CoreLogic said. In March, 8.3 percent of properties locally, or 31,616 residential properties, were underwater.
Nationally, about 2.5 million properties returned to positive equity during the second quarter. CoreLogic said 7.1 million homes, or 14.5 percent of residential properties with a mortgage, were still in negative equity at the end of June. That's down from 19.7 million, at the end of the first quarter, it said.
"Price appreciation obviously had a positive impact on home equity over the first half of 2013, especially in the second quarter," said Anand Nallathambi, CoreLogic's president and CEO.
Cousins Properties closes 777 Main acquisition
Atlanta-based Cousins Properties, a large publicly-traded real estate investment trust, last week completed its deal to buy 777 Main, the 40-story office tower at Seventh and Main streets in downtown Fort Worth, and Greenway Plaza in Houston.
The transaction was closed by HFF, which marketed the properties for Crescent Real Estate Holdings in Fort Worth. The $1.1 billion sale was announced in July.
777 Main is 980,374 square feet and was 95 percent leased at the time of the sale. Tenants include Jacobs Engineering, Frac Tech Services and Frost Bank. Greenway Plaza is a 10-building, 4.4 million-square-foot office portfolio, near Houston's central business district.
1601 E. Lamar Blvd., Arlington
Dallas Business Consultants has leased 1,500 square feet of office space. Gary Smith with Andrews-Dillingham Properties represented the landlord, Andrews-Dillingham Properties. Tony Schifano with Schifano Realty Group represented the tenant.
SEC Interstate 35W and Golden Triangle Boulevard, Fort Worth
Hillwood Development has sold a 2.3-acre tract to RaceTrac Petroleum for a gas station and convenience store. Katie Vance, Ken Reimer and David Davidson Jr. with Venture Commercial brokered the deal.
SEC Great Southwest Parkway and Interstate 20, Grand Prairie
Sears Home Appliance has leased 6,280 square feet in the Great Southwest Crossing Shopping Center. David Levinson and Jack Weir with The Retail Connection represented the landlord, Retail Properties of America. Josh Flores with Edge Realty Partners represented the tenant.
3500 Texas 121, Grapevine
Academic Healthplans Inc. has leased 14,258 square feet of office space from Hangover Opportunity Fund. John Lucas with Century 21 Mike Bowman Commercial represented the tenant. Renee Efimoff with SCM Real Estate represented the landlord.
SEC Davis Boulevard and Precinct Line Road, North Richland Hills
Artistry in Motion has leased 6,000 square feet in the Davis Towne Crossing. David Levinson and Kendall Ibsen with The Retail Connection represented the landlord, Retail Properties of America. Jeremy Mercer with the Mercer Co. represented the tenant.
Sandra Baker, 817-390-7727 Twitter: @SandraBakerFWST