A 1.6-acre pad site at the northeast corner of Rosedale Street and Interstate 35W in the Terrell Heights community has been acquired as the site of a new 7-Eleven store.
Cypress Equities coordinated the acquisition in cooperation with the city of Fort Worth and Prudent Development.
“The city of Fort Worth is excited to have 7-Eleven join the Terrell Heights community,” said Jesus “Jay” Chapa, director of housing and economic development for Fort Worth, in a news release. “This type of private sector investment is a testament to the growing appeal and value of this once-underserved neighborhood and will complement the city’s investment of infrastructure along Evans Avenue, including the creation of the Hazel Harvey Peace Center and the Ella Mae Shamblee Branch of the Fort Worth Library.”
A Jack-in-the-Box restaurant, which celebrated its grand opening in April 2011, kick-started the commercial redevelopment in acquiring a parcel of land fronting both Missouri Avenue and I-35W. This parcel was also sold by Cypress Equities. 7-Eleven is scheduled to begin construction in July immediately south of Jack-in-the-Box.
“The addition of 7-Eleven is the next step in the overall redevelopment of this Terrell Heights neighborhood,” said Kirk Williams, senior vice president of development for Cypress Equities. “We look forward to working with other market leaders to enhance the commercial offerings and services along Evans Avenue.”
Mark Newman and Justin Schoellkopf with SRS Real Estate Partners represented Cypress Equities in the transaction.