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North Fort Worth is on the brink of becoming a major retail destination. Presidio North has changed hands from Las Vegas-based Diversified Real Estate Group to De La Vega Group. Transwestern managing director Steve Williamson repped both parties.
De La Vega will develop the 90-acre site into a 500k SF retail, restaurant, hotel and entertainment project, and rename it The Citadel. Steve said Diversified had interest from several developers but wanted to sell to someone who would "do the property right."
The property's location on I-35 and Heritage Trace Parkway in Fort Worth allows ample access to Alliance Town Center, which houses Best Buy, Dick's Sporting Goods and Cinemark Theater. Costco, Target and Winco Foods anchor nearby Presidio Town Center.
Steve is in talks with tenants, including a Marriott Hotel, a small-format grocery store and entertainment options.
De La Vega anticipates site work and horizontal development will begin in early 2017 with delivery around spring 2018.
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