A retail center in one of Fort Worth’s fastest changing neighborhoods has just changed hands.
Dallas-based Centergy Retail just sold the 114,120-square-foot Left Bank shopping center on West 7th Street to an institutional investor for an undisclosed price, according to the Dallas Business Journal. CBRE arranged the sale.
Left Bank is part of a 34-acre mixed-use development, which will eventually include 1,900 multifamily units upon completion. The property is part of Fort Worth’s West 7th Street corridor, which CBRE VP Jim Batjer called, “one of the densest and fastest-growing submarkets in Dallas-Fort Worth.”
The retail center is anchored by a Tom Thumb, which is reportedly the grocery store of choice for most of the neighborhoods surrounding West 7th Street.
For now, Left Bank is across the street from the Montgomery Plaza mall. However, the city of Fort Worth is currently weighing a possible 595-unit apartment complex that would replace the Five Below, Office Depot, PetSmart, Dollar Tree and Michael’s that make up the neighboring strip mall. While the planned Montgomery Plaza apartment development would bring much needed housing to the area, the zoning commission was compelled to issue a 30-day continuance on the case after traffic data provided by the developer conflicted with data that a group of 10 residents commissioned privately.
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— Maddy Sperling