Fort Worth Unveils First Phase Of Convention Center Expansion: The DFW Deal Sheet
One of the metro’s largest convention centers wrapped up the first phase of its expansion this week.
City officials held a ribbon-cutting event Monday to mark the completion of the initial $95M of work on the Fort Worth Convention Center.
The nearly 77K SF project expanded the convention center’s southeast entrance and terrace, added new food and beverage facilities, and increased the number of loading docks from seven to 11. Construction also realigned Commerce Street to create a site pad for a future convention hotel and more retail or restaurants.
“This is only the first step in a bolder future for Fort Worth as a convention destination,” Fort Worth Public Events Director Mike Crum said in a statement. “We’ve delivered Phase 1 on budget and on time, and design is almost complete for the second phase of expansion and modernization.”
The next phase will cost $606M and is expected to last from late 2026 through early 2030. It will demolish the convention center’s current arena and replace it with modern meeting space and a ballroom. The convention center's existing exhibit space and meeting rooms will also be renovated during the second phase of the expansion.
Broaddus & Associates Inc. is the project manager in partnership with Elements of Architecture Inc. Thompson, Ventulett, Stainback & Associates is teaming with Bennett Partners to design and provide construction administration services. AECOM Hunt, Byrne Construction Services and E.J. Smith Construction created a joint venture and served as construction manager at risk for the first phase of the center’s expansion.
SALES
Fort Worth-based PHP Capital Partners purchased the 115K SF Gateway Business Center at 6005 and 6015 Commerce Drive and 6000 and 6012 Campus Circle Drive W in Irving. Fort Worth-based Panther FW Investments served as PHP’s capital partner on the acquisition. The sales price was not disclosed. Property Advisers Realty’s Chris Andler and Patrick Reis will handle leasing for Gateway Business Center.
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TDI sold the 360-unit Jefferson Cedar Ridge luxury multifamily community in southwest Dallas. Newmark’s Richard Furr, Brian Murphy and Brian O’Boyle Jr. represented the seller in the transaction. Newmark’s Braden Harmon, Hank Glasgow and Jeff Fein arranged acquisition financing on behalf of buyer Ashcroft Capital and Pearlmark Real Estate.
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Marcus & Millichap announced the sale of the 235K SF Plaza at the Parks retail center in Arlington. The three-building shopping center was built in 1994 and 1995 on over 20 acres on West Arbrook Boulevard near Interstate 20.
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BKM Capital Partners acquired a three-property portfolio totaling 200K SF in Dallas-Fort Worth and Houston for $27.5M. The portfolio, acquired at a 43% discount to replacement cost, consists of two DFW properties and one in Houston. The DFW acquisitions were the nearly 74K SF Great Southwest Business Park in North Dallas and the 68K SF Royal 35 Business Park in the Great Southwest submarket.
The properties are 98% leased and were built between 1981 and 1986. BKM will implement a $2.1M capital improvement plan to enhance exterior façades, roofs, HVAC systems, signage, landscaping and targeted interior build-outs. The seller, Circle Industrial, was represented by the JLL Capital Markets team of Trent Agnew, Charlie Strauss, Tom Weber, Pauli Kerr, Lance Young, Brennan Fewin and Alex Fronterhouse. BKM’s Brett Turner and Charlie Farmer led negotiations on behalf of the firm.
CONSTRUCTION AND DEVELOPMENT
Footwear and apparel company Ariat International will invest $72.6M and create 250 jobs as part of an expansion of its regional headquarters in Fort Worth. The expansion will occur in two phases. In the first, Ariat will spend $8.9M on property improvements and equipment as well as the creation of 150 new jobs. The second phase will feature the construction of a new regional distribution center at a cost of $63.7M in property and equipment as well as 100 new jobs.
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Continental Electronics Corp., an OSI Systems company, added a 45K SF manufacturing facility at the Galatyn Commons development in Richardson. It will serve as a hub for innovation across the company’s work with national defense, scientific research, communications infrastructure and critical government programs.
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Luxury garage ownership company Garages of America expanded its Carrollton facility at 2328 Marsh Lane. The expansion adds 67 garage suites and six flex office warehouse spaces adjacent to the company’s original Carrollton development.
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The University of North Texas at Dallas opened its $100M STEM facility that is designed to strengthen North Texas’ healthcare and science workforce pipeline. The 120K SF building will welcome students when the spring 2026 semester begins in January. The building features 18 classrooms; 12 laboratories, including nine teaching labs and three research labs; multiple collaborative spaces; and a large event venue. The building was designed by Stantec and HarrisonKornberg Architects, with Vaughn Construction serving as general contractor.
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Wood Partners opened the Alta Rayzor Ranch apartment community in Denton. It will be managed by Greystar with construction to be finished by early 2026.
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ONM Living opened its build-to-rent communities Cottages at Anna Station, Cottages at Lake Lavon in Lavon and Cottages at Deer Creek in Fort Worth. Cottages at Anna Station features 196 BTR homes at 1340 County Road 1106 in Anna. Cottages at Lake Lavon offers 286 homes at 151 Villas Drive in Lavon. Cottages at Deer Creek has 378 BTR homes at 1127 Eloise Drive in Fort Worth.
FINANCING
JLL Capital Markets arranged financing for the 500K SF The Quad mixed-use development in Uptown. Working on behalf of Stream Realty Partners, JLL placed the five-year senior loan with accounts managed by global investment firm KKR. The eight-property development at 2699 and 2681 Howell St. and 2828 Routh St. offers office and retail uses. JLL Capital Markets’ Colby Mueck and Greg Napper represented Stream in the deal.
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Unbridled Living purchased the 273-unit The Reserve at North Dallas senior housing community. JLL’s Seniors Housing Debt Advisory team placed the acquisition loan with Arrowmark Partners with a three-year term and a pair of 12-month extension options. The Reserve at North Dallas was built in 2000 on a 7-acre site at 12271 Coit Road. JLL’s Jay Wagner, Rick Swartz, Aaron Rosenzweig, Jim Dooley and Dan Baker represented the seller and procured the buyer. JLL’s Allison Holland led the team that placed the financing.
PEOPLE
Civitas Senior Living appointed Cooper Vittitow as president and chief executive officer. He has more than 18 years of experience in the senior living field. Co-founder Wayne Powell will move into the role of chairman of the board, where he will continue guiding organizational vision, governance and long-range strategy.
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Transwestern added John Bollman, Barrett Bufkin and Austin Fahy in its Dallas office. Bollman will serve as managing director and brings more than 25 years of experience in logistics and supply chain. Bufkin will also serve as managing director and will focus on new development sites, including total-cost strategies, and aligning site selection, labor and transportation decisions with clients’ broader operational and growth goals. Fahy will be senior vice president and use analytics and operational insights to help occupiers optimize real estate strategies, drive efficiency and support long-term business objectives.
THIS AND THAT
Trammell Crow Co. topped Commercial Property Executive’s 2025 list of U.S. development firms. It was the 12th year in a row the firm earned the designation. Trammell Crow’s subsidiary High Street Residential placed fourth on Multi-Housing News’ 2025 list of top multifamily development firms.
