TEXRail’s December Launch Spurs Development SUCCESSFUL ENTREPRENEURSHIP
How to Destroy the Company You've Built — and Avoid That Trap
Twin sisters Susan Gruppi and Jessica Worman build a Fort Worth real estate company one story at a time
Subpar. What did you think we meant?
40 Double Take Get to know the twin sisters taking Fort Worth by storm — Susan Gruppi and Jessica Worman, the developers behind some of the most-buzzedabout projects in the city, from The Foundry District to the O.B. Macaroni Building.
48 Coming Around the Mountain
With the incoming TEXRail also comes lots of development from downtown Fort Worth to downtown Grapevine. Here’s the rundown of what to expect.
54 2019 Dream Office: River District
As Fort Worth Inc. makes progress on the 2019 Dream Office, let’s get to know the contractor behind the job: PRIM Construction.
56 Fort Worth’s Top Commercial Brokers and Agents 2018
The top-producing commercial brokers and licensed sales agents in the area.
9 Bizz Buzz: Pickup trucks and Porsches, plus new lofts in the Near Southside.
12 Stay Informed: The prep work has started for EO's second round of student entrepreneur competition. Here’s how to help.
14 Face Time: Talking NASA, scholarships and future plans with the new chancellor of the UNT System.
16 Around Cowtown: Startups and entrepreneurs get social.
( EXECUTIVE LIFE & STYLE )
22 Distinctive Style: A local boy leaves a big-name shoe company and comes home to not just make his own shoes — but also make a difference.
24 Off the Clock: Cornwall, Argentina and Ghana are just a few of the adventures this Fort Worth-based travel company has in the works.
28 Wine & Dine: Step inside a small business incubator made especially for foodies.
30 Office Space: Taxidermy, motorcycles and Seinfeld ... need we say more?
34 Gadgets: A do-it-all money management dashboard takes off in Fort Worth.
36 Health & Fitness: Allergy season is here again. Before you reach for the meds, reach for these foods instead.
( COLUMNS / DEPARTMENTS )
68 EO Spotlight: The architect behind the rehab of Will Rogers’ Pioneer Tower reflects on her company’s ups, downs and future growth.
70 Running Toward the Roar: Nolan Bradshaw starts a company during a period of economic downturn … and it pays off.
72 Analyze This/FW Chamber Report: The Fort Worth Chamber takes to elected officials, advocating for the city’s business community.
74 Analyze This/Real Estate: The Class A office market is heating up.
76 Analyze This/Insurance: And the nation’s largest certified Blue Zones Community is...
78 Analyze This/Wealth: Using financial analysis to know when it’s time to start a business.
80 Analyze This/Legal and Tax: In a legal case, mediation has its benefits. Here’s what you need to know.
82 Business Leadership/ Startups: Startup entrepreneurs have a new resource launching this month.
84 Business Leadership/ Management Tips and Best Practices: Got a call from the local newspaper … or magazine? Here are six tips for nailing a media interview.
86 Business Leadership/ Successful Entrepreneurship: Seven ways to destroy the business you built.
88 Day in the Life: It’s early to bed, early to rise for the Fort Worth region CEO of First Financial Bank.
( SPECIAL ADVERTISING SECTION )
59 The Registry: Leaders in Fort Worth’s Commercial Real Estate Industry
Heritage Land Bank is proud to support the young men and women of 4-H and FFA. Cade and Cody Miller come from a family with deep roots in the livestock community. These twin Texans specialize in steers and have been showing as long as they’ve been old enough to compete. Heritage Land Bank’s involvement in local shows and the community allowed them to learn about their options and take out Livestock Loans that let them take ownership of their animals and continue to compete year after year. In the future, they look forward to continuing their family’s tradition of showing in the steer group.
Heritage Land Bank finances the future. Find out what we can do for you.
Entrepreneurial Fort Worth has produced a new generation of self-confident, aggressive creatives who view things differently than the people who came before them. Our cover subjects in this issue of Fort Worth Inc. are members of that new class.
Twin sisters Susan Gruppi and Jessica Worman came to Fort Worth from Longview, where they grew up, to study business at TCU. Their original plan was to eventually move back to Longview and join the family real estate business. Instead, they’ve stayed and built a growing and impressive real estate business, M2G Ventures, turning old property into new.
They’ve created a new neighborhood branded The Foundry District, a collection of warehouses they’ve renovated northwest of Montgomery Plaza. Other competitors for the same real estate saw opportunity to develop new apartments and bid at tear-down prices. Gruppi and Worman, who’ve become quickly known for their creativity, confidence and ability to infuse their projects with character and activity, saw these old buildings differently, as candidates for adaptive reuse. The Foundry today has 12 buildings and 98,000 square feet of space, and a collection of local brands started by the same kinds of young creatives as Gruppi and Worman.
There’s another thing about our cover you might have noticed. We’ve changed the name of the magazine to Fort Worth Inc. from FW Inc., and redesigned our logo. We actually unveiled the new name and logo earlier in August on the cover of The 400, our special issue look-
ing at 400 of the most influential people in Fort Worth.
Why’d we do it? Many of our readers didn’t know the magazine is published by the same company that produces Fort Worth Magazine and Fort Worth HOME. And when many of our readers were referring to the magazine as Fort Worth Inc., we figured we should call it what they call it.
Which brings us back to the two market disruptors on our cover this issue. “Nobody would have cursed if we came in here and demo’d all of this,” Gruppi told us, candidly, for our story as she and her sister walked us through how they pulled the Foundry together. “Very rarely does everyone like what we do. There’s always somebody who says, ‘bad idea.’”
The twins have always had strong mentors. Their parents are in the real estate business. The twins’ first professional mentor and boss was Terry Montesi, CEO of Fort Worth’s Trademark Property Co. “It was fun training people who want to learn,” Montesi told us. “I knew I was training eventual competitors. It was OK. They reminded me I started my first company at 26.”
Where do they go next? Their father, Richard Miller, told Fort Worth Inc. he thinks his daughters want to achieve “a level that is both unusual and unexpected, and at a relatively young age.” Let’s see what that turns out to mean.
Hal A. Brown owner/publisher
To subscribe to Fort Worth Inc. magazine, or to ask questions regarding your subscription, call 817.560.6111 or go to fwtx.com/fwinc.
Fort Worth Inc. is published bi-monthly by Panther City Media Group LP, 6777 Camp Bowie Blvd, Suite 130, Fort Worth, TX 76116. Postage Paid at Fort Worth, Texas. POSTMASTER: Send address changes to Fort Worth Magazine, 6777 Camp Bowie Blvd, Suite 130, Fort Worth, TX 76116. Volume 4, Number 5, September/October 2018. Basic Subscription price: $19.95 per year. Single copy price: $6.99 ©2018 Panther City Media Group. All rights reserved. No part of this publication may be reproduced without written permission from the publisher. how to contact us For questions or comments, contact Scott Nishimura, executive editor, at 817.560.6111 or via email at snishimura@fwtexas.com.
Craig Rogers President & CEO
A former-farm clothing manufacturing facility turns into residential and retail space — now open for business.
BY MARISSA ALVARADO
The long-awaited Dickson-Jenkins Lofts & Plaza celebrated its grand opening Sept. 1 at 201 S. St. Louis Ave.
Formerly known as the Dickson-Jenkins Manufacturing Company, the 1920s structure once served as a farm clothing production facility. Since the 1960s, Branch-Smith Printing owned the building until the developer, Ed Vanston (known for other Near Southside projects like the Miller Lofts and Supreme Golf Warehouse), bought the property and converted it to residential and retail space.
According to listing agent Jennifer Franke, the building is currently 60 percent occupied. The Dickson-Jenkins Lofts & Plaza includes 21 residential condos, eight commercial spaces for sale, and 10 commercial spaces for lease. The complex creates a U-shape, and in the middle is a park with trees, benches and patios.
Some of the businesses include Leaves Book & Tea Shop, Megan Thorne Fine Jewels, Kellyn Dean Interior Design, Crittenden the Studio, and Philip Newburn Architecture.
“It is its own little artistic village,” Franke said. “When you look at the people and businesses that are going in there, everybody is in someway art-related.”
Another tenant, Record Town — one of the nation’s oldest vinyl stores — moved from its location on South University, where it had stood for the past 60 years, to the Dickson-Jenkins Lofts & Plaza. There will also be a nonprofit art gallery, Art Room, that will include a classroom for children around the county to take art classes on the premises.
“I am extremely proud and excited that there are so many artistic and creative businesses going into this development,” Franke said. “It is way more than I had hoped for.”
BY JENELLE LANGFORD
BY ADALINE HAYNES
Park Place Porsche celebrates its grand opening Sept. 13. The two-story, 68,000-square-foot dealership stands just off Texan Trail and State Highway 114, not far from Park Place Motorcars and its Lexus and Jaguar Land Rover dealerships. According to Park Place, this will be one of the largest Porsche dealerships in the nation.
This is Park Place’s second Porsche dealership and fourth dealership in Grapevine. Good Fulton & Farrell served as architect, while Hill & Wilkinson was general contractor.
“We designed the space to bring the brand to life so clients can explore the iconic brand, making the experience their own,” Ken Schnitzer, chairman of Park Place Dealerships, said in a statement.
The dealership features a showroom that can accommodate as many as 21 vehicles, such as the 911, Cayman, Boxster, Panamera, Macan and Cayenne. The space also has a client lounge, boutique, shop containing 28 service bays and large service drive.
Park Place Porsche is green too — the dealership will be LEED
Haltom City now has a hub for pickup truck enthusiasts.
Cap-it, a truck accessory store that originated in Canada, is opening its first U.S. store in Haltom City on Sept. 22.
Located at 5837 Denton Highway, the 10,000-square-foot store will offer the largest selection of pickup accessories, including hitches, tires, running boards and other products. Cap-it technicians will also be on-site to install any product purchased in store.
“Pickup owners in Fort Worth love their trucks, and they love to outfit their trucks with top-of theline accessories for both work and play,” founder and CEO Hank Funk said in a statement.
In addition to offering a wide variety of truck accessories, Cap-it also specializes in adventure products such as kayaks, camp stoves and bike/cargo racks. The store also features an indoor and outdoor showroom.
Cap-it’s grand opening celebration will include autograph signing from Fishing League Worldwide angler James Caldemeyer, free barbecue, a live DJ and up to $5,000 in giveaway prizes such as buck knives, a Pelican kayak, a Camp Chef smoker and more.
(Leadership in Energy and Environmental Design) certified, making efforts to save energy, water and resources, as well as generating less waste.
Currently, the U.S. has the largest single market for Porsche, with U.S. buyers accounting for 28 percent of 911 purchases worldwide.
Porsche Cars North America recently announced retail sales in June were up 8.3 percent compared to year-over-year sales, recording the sixth consecutive monthly record since January.
A version of this story originally appeared on fwtx.com.
The Entrepreneurs' Organization’s student competition gears up for its second year.
BY SAMANTHA CALIMBAHIN
The Fort Worth chapter of the Entrepreneurs’ Organization is prepping for its second annual Global Student Entrepreneur Awards (GSEA). Whether you’re an EO member looking to participate, a local company looking to help, or a hopeful student entrepreneur with a burgeoning business idea, here’s everything you need to know.
The competition, geared toward undergraduate and graduate students, takes place Nov. 7 (location not yet finalized). The deadline for student entrepreneurs
to apply is Oct. 1.
Prior to the event, student entrepreneurs will connect with an EO member, who will serve as their mentor. On competition day, contestants will present to judges for the chance to earn prizes like cash or professional services. The winner of the Fort Worth competition will have the opportunity to move onto the national competition in Denver, and the winner of the national competition will compete in the global contest in Macau, China.
While GSEA has similarities to ABC’s “Shark Tank,” the competition focuses
less on the business plan and product and more on the person behind it — that is, the candidate who best exhibits EO’s core values:
• Boldly Go: A person who takes risks and isn’t afraid of failure.
• Thirst for Learning: A willingness to gain knowledge.
• Mark a Mark: A desire to make a difference and leave a positive legacy.
• Trust and Respect: A dedication to maintaining integrity.
• Cool: A forward-thinker who’s committed to innovation.
Evan Sledge (a junior at TCU at the time) won last year for his company, Sledge Outfitters, which offers guide services for hunting and fishing activities. The company began in Granbury and now operates in Central Texas and Southcentral Alaska.
“GSEA is awesome,” Sledge says. “I needed people to talk with that like to dream big. After competing in GSEA, I was surrounded by like-minded people looking to make drastic improvements in their industries.”
• Be a judge/mentor. Members of EO can get involved by serving as competition judges or mentors to the competitors.
• Provide a prize package. Local companies can also get involved by contributing to the prize package. Prizes can range from office space to marketing and advertising services.
For more information, contact competition chair (and Kisabeth Furniture president) Keith Webster at kwebster@kisabethfurniture.com.
UNT System Chancellor Lesa Roe, fresh off a 33-year NASA career, looks for ways to boost enrollment, retention, research, accessibility and efficiency. No low-hanging fruit here, she says.
BY SCOTT NISHIMURA
strategic plans we have. I was a hirer of employees at NASA. What did I need? Universities address that.
It didn’t take Lesa Roe long to figure out she might be good for the open post of University of North Texas System chancellor after a headhunter called, trying to lure her from her job as acting deputy administrator at NASA. Roe, who grew up in Gainesville, Florida, and was first in her family to go to college, got a toehold at NASA on an internship through the University of Florida, where she studied engineering. At UNT, she’s responsible for 10,000 employees and the Denton, Fort Worth and Dallas campuses. Her portfolio: increase enrollment (10 percent by 2020 to 48,000) and retention, research, inclusiveness, operational efficiency, and employee engagement.
How she became an engineer: There was a software program in high school, and you could put your interests in and see what popped out. I thought I wanted to be a zoologist. Zoology was in there and engineering was in there, and then you could see what they made.
How she funded college: The co-op was a great way. I’d go work for a semester and come back to school for a semester. I lived at home. My parents helped with tuition. I got an engineering scholarship.
UNT interview prep: I watched our board meetings. I did research on the
Finding savings: In shared services, we found around $5 million in savings in the first six months. We put in place a chancellor’s council. Below that, I established those kinds of forums in each area. Now the CFOs from each campus work with the system CFO to solve issues.
Partnerships: There are partnerships with corporations, high schools and community colleges. There are early college high schools. That plays well in Dallas. It plays well in Fort Worth. We’re doing that all across our universities. That ties with corporate strategy. We’re the only system [based] in DFW. Having those partnerships is fundamental.
New scholarships: There are scholarships for incoming students. But students drop out of that last year because they can’t afford it. The Chancellor’s Scholarship is one I’ve established to help.
Pipeline: You need a pipeline across our universities. We only do graduate programs at UNTHSC. But feeders could be UNT Dallas or UNT Denton. If we’re thinking about it, we can help the graduate finish much more quickly.
How UNT's brand is perceived: We have a brand study out right now. We want to know where we are, how we’re perceived in the marketplace.
TechNest 1-2-3 TECH Fort Worth's weekly series to discuss topics in entrepreneurship.
1. Guests at TechNest 1-2-3. 2. TECH Fort Worth assistant director Hayden Blackburn speaks to a group of attendees at TechNest 1-2-3.
Craftwork Foundry District Opening
Coworking space and coffee shop
Craftwork Coffee Co. celebrated the grand opening of its Foundry District location Aug.
10. Photos by Rebekah Ballesteros.
1. Brittany Brookens, Trevor Hightower, Riley Kiltz, Macy Tatum
2. Sarah Castillo
3. Melissa Ice, founder and executive director of The Net, speaks to guests.
4. Gabe Williams
5. Laura Kirchhofer
6. Jesse Chaney
7. Attendees at Craftwork's grand opening in The Foundry District.
TECH Fort Worth hosted a potluck July 16 celebrating its summer interns.
1. Jack Hymel, Gavin James, Devan Peplow, Pravash Pokhrel, Zach Liston, Mitchell Ordos, Austin Ngo
Organizations like TCU, Common Desk and the Business Assistance Center came together for the first Startup Crawl on May 31, showcasing startup companies and their products.
2. Cynthia Sadler, Robert Sturns, Alice Barr
3. Edward Morgan (left), CEO and president of Revitalize Charging Solutions, explains more information about his product at Startup Crawl.
4. Betsy Price with representatives of Myconi Technologies.
WeWork hosted various speakers during its Activation Week, including TECH Fort Worth assistant director Hayden Blackburn on June 27.
5. Attendees at WeWork's Activation Week.
6. Blackburn chats with attendees.
TECH Fort Worth partnered with the University of Texas at Arlington from June 7–July 26 for a seven-week entrepreneurship course at the university's StartUp Lounge.
7. Attendees at UTA DeepDive.
BY SAMANTHA CALIMBAHIN
Gabe Williams is no stranger to taking chances. He took a chance as an MBA student at TCU, when Elliott Hill — thenpresident of geographies and integrated marketplace at Nike — visited the university for his daughter’s college tour. TCU’s career office got word of his visit and gathered a group of MBA students to deliver presentations to Hill and Nike recruiter Ernest Adams in hopes of a possible career.
Each student had five minutes. During Williams’ turn, he decided to share about a recent mission trip to Haiti — and he cried.
“I was like, ‘I blew it. You don’t cry in business,’” Williams recalls.
As it turned out, he didn’t blow it — he got a job, working as a strategic planning analyst for Nike, helping open brick-andmortar stores and develop Nike’s Integrated Marketplace strategy. Good work led to promotions, and eventually, Williams was leading Nike’s marketplace strategy in the west region, working in Los Angeles and managing $100 million in retail investment capital for the North America Marketplace concepts team.
And then, he left.
“My wife and I were sitting around one night … I go, ‘I have a hard time believing that my life is all about creating wealth for myself and my family and living in this bubble we’ve created.’ I couldn’t get around it,” Williams says. “What if I started a business that’s very similar to Nike in many regards? Athletic footwear
brand, but we gave back to the communities that supported it?”
So, last year, Williams moved back to Fort Worth and started Davi — an athletic sneaker company that launched via Kickstarter at the end of August.
Launching the company took patience. Late night Googling, phone calls and LinkedIn research landed him a manufacturer in Vietnam. He’s also employed freelance designers to design the shoes. The Trinidad, for example, is the work of Randi Bugros, who hails from there.
Williams also made sure to connect with the local entrepreneurial community, crediting folks like Jonathan Morris, owner of Fort Worth Barber Shop, and Riley Kiltz, CEO and founder of Craftwork Coffee Co. — Williams offices at Craftwork’s Magnolia Avenue location.
But Williams says there’s a bigger mission associated with Davi, and it’s part of the business plan. The name “Davi” is Portuguese for “David” — a reference to David and Goliath, and the idea of an individual “stepping into this moment that outsiders looking in thought was impossible,” Williams says.
“There are so many parallels that can be drawn between what a shoe carries and what a shoe does for you in life,” he says. “It’s foundational; we all wear them. They take us from one place to another.”
Among Davi’s first marketing materials was a video titled “Reasons Why.” No shoes, no products. Just local people — like Morris and other familiar faces like musician Abraham Alexander — telling viewers the message of the company.
“I felt like, as I went through my life, there’s always something that prevented me from stepping out and into something bigger than myself,” Williams says. “It’s because of things I’ve listened to my whole life — ‘I’m not this or that.’ With the video, I wanted to create a declarative moment with real people saying ‘no’ to the limits others have placed on them — this is what we’re building our brand around.”
Sales are currently entirely online. Williams says he hopes to have pop-up shops and eventually open a brick-and-mortar.
Gabe Williams is the type of guy who doesn’t own a suit. “It’s just never been me … I own a blazer, that’s about it,” he says. There are plenty of fashion rules he’s not afraid to break. His top five:
1. Formal wear in formal settings. “Don’t be afraid to be yourself in formal situations. Wear T-shirts everywhere — to church, a funeral, a wedding, job interview. It’s OK.”
3. Showing off brand names. “Don’t be a brand billboard. Throw out the giant logos. No one really cares.”
4. Repeating outfits. “See an outfit you like, buy one for every day of the week, and don’t be afraid to make it a uniform. Requires less thought in the morning.”
5. No black on black. “I wear black on black on black — all the time.”
2. Mixing black with other dark colors. “Black goes with everything, even brown and navy. Don’t be afraid to pair brown shoes with black pants, or a navy blazer with black button-down.”
The plan, he says, is to stay hyperlocal: Focus on Fort Worth, and when it’s time to scale, be hyperlocal in whatever city the company expands to.
Either way, he’s happy to take a chance and be part of Fort Worth’s entrepreneurial circle. After all, Williams says, “There is something special happening in this city.”
Years spent working around the world inspires a U.K. native to start his own travel company — based in Fort Worth.
BY SAMANTHA CALIMBAHIN
From leading expeditions through educational organization Outward Bound to clearing landmines with nonprofit HALO Trust, David Gill has spent most of his life traveling everywhere from Africa to South America.
But the U.K. native eventually found himself in Texas, thanks to his wife, Audri. They met on match.com — he was in the U.K.; she was in Fort Worth. Over the course of three years chatting online, the two had developed a list of 40 things they
wanted to do before they turned 40.
On hers: Travel to Africa. Earn her teacher certification. Hot air balloon through the Serengeti.
On his: Learn how to ride in a rodeo. Climb Kilimanjaro. Start a business.
On theirs: Meet in person. Get married. Start a family.
It wasn’t long before they began checking off a few of those items (they eventually met and married in 2013, and their son was born in Ghana two years later). Another from David Gill’s list would come to frui-
tion in 2016, when the list itself sparked the idea of starting 40/40 Adventures, a company based in Fort Worth that leads groups through expeditions in lesser-traveled parts of the world.
“[40/40 Adventures] provides people the opportunity to go to countries they wouldn’t necessarily consider but will come back having had the most amazing time,” Gill says. “40/40 is my way of offering that to other people, to get them inspired to see the world differently.”
The company offers three types of services: Expeditions (trips “off the beaten path,” from mountains to jungles), Educational & Leadership Expeditions (trips geared toward high school and college students), and 40/40 Experiences (trips that immerse travelers in local culture, as opposed to typical tourist areas).
The company’s first trip took place in Croatia, spent climbing, rafting and trek-
As a business owner, when you think about the future of your company, what comes to mind? Increasing revenues...launching new products...building partnerships. But what about planning for an exit strategy? Having a succession plan in place is key to protecting what you’ve built for future generations.
At The Private Bank at Bank of Texas, we can help you identify the tools and resources necessary to help formulate a succession strategy that meets your objectives. After all, just because you’ll eventually retire, doesn’t mean your legacy should too.
Let us help you plan for the future.
The more time you have to plan your succession, the smoother the transition.
Involve Your Family
Your plans will affect your beneficiaries; include them in the process to ease potential discord.
Identify a Successor
Whether a family member or a trusted employee, grooming for leadership takes time.
Your company’s financial standing plays an integral role in your planning process.
king through the country with a group of 27 students from an Egyptian school, Cairo American College. Gill took a short hiatus from 40/40 to help friends start a brewery in Pantego, but now, he’s back to planning more travel packages into the next year.
Yet another from Gill’s list will be checked off next year, when 40/40 takes a group of 12 veterans from The Warrior’s Keep to climb Mount Kilimanjaro. Among the other adventures coming in 2019 — packrafting in Patagonia, horseback riding in the Andes, and more. The company is planning North American travel packages as well.
As for the rest of this year, here are a few upcoming trips 40/40 has in the works.
Sept. 22–29
About $3,200 for party of eight (price varies depending on size of party)
The next trip on 40/40’s itinerary is Gill’s homeland of Cornwall, located at the southwestern tip of England — the backdrop of stories like King Arthur and Poldark. Gill will give visitors a tour of UNESCO Heritage sites, coves and landscapes, as well as his favorite local
spots. The package includes a return train to Cornwall from London Paddington, all ground transportation, accommodation at a local farmhouse, meals, a 40/40 Adventures guide and all activities within the itinerary.
Oct. 19–28
About $5,550 for party of four (price varies depending on size of party) The Salta package is a self-driving tour through Puna de Atacama by 4-by-4, sightseeing through mountains, salt plains and volcanoes. The price includes all ground transportation, internal flights, accommodations, food, a 40/40 Adventures guide and all activities within the itinerary.
Nov. 9–19
About $3,500 for party of 10 (price varies depending on size of party) This trip takes travelers through West Africa via Overland Truck, visiting spots like the beaches of Cape Three Points (where one can take surfing lessons) and
the savannah of Mole National Park. The package includes all ground transportation, internal flights, accommodations, meals, a 40/40 Adventure guide and all activities within the itinerary.
More information can be found at 4040adventures.com. Or, contact David via email (david@4040adventures.com) or phone (817-291-9918).
Kitchen incubator launches on Fort Worth’s Near Southside, catering to the city’s growing entrepreneurial food community.
BY SCOTT NISHIMURA
Caterer Carlo Capua, founder of Z’s Café in Fort Worth, got a strong sense of the potential demand for a small business kitchen incubator in the city when he began offering his Near Southside commercial kitchen for rent. “For every 10 people who called me, I could only help two of them,” he says.
The Near Southside has been on the lookout for a kitchen incubator as Fort Worth’s entrepreneurial food community grows, with the cost of a commercial kitchen and dearth of available kitchens for rent a substantial barrier to entry. Capua and Cortney Gumbleton, a longtime Fort Worth nonprofit executive
and budding foodpreneur, this summer launched Locavore, a kitchen incubator on the Near Southside.
The two leased The Bastion, a commercial kitchen and indoor and outdoor event venue at Hemphill Street and Hawthorne Avenue, from owner and chef Chandra Riccetti, who’s told followers she’s gone on “renovation sabbatical.” At the same time, Capua won the catering contract to serve the nearby Woman’s Club of Fort Worth earlier this year. Locavore signed a lease on that kitchen and has added it to its rental offerings. Capua’s Z’s Café kitchen at Pennsylvania Avenue and Henderson Street in the hospital district also is in the rental mix.
Locavore will be doing more than just
renting kitchen space, use of equipment, and storage. It’ll also offer connections to potential mentors in the food business locally.
“I think there are a lot of [food entrepreneurs] who are doing it under the radar, and they get stuck,” says Capua, who founded Z’s Café in 2009 in partnership with the Samaritan House nonprofit, providing jobs for what Capua estimates has been 135 Samaritan House residents so far. “Our goal is to help them avoid that brick wall. A lot of it is in the mentorship. We can put them in touch with people who can help take them to the next level.”
Locavore also offers limited office space in The Bastion. The restaurant and bakery Spiral Diner and Crack Salsa, a growing Fort Worth food company, are among the initial tenants.
Gumbleton came into the venture when she went looking for a kitchen to produce a line of items like jams and jellies. “I did some research on commercial kitchens,” she says. “Z’s Café came up, and so did one in North Fort Worth,” Elixir, a commercial kitchen for rent. “I just had a light bulb moment.”
Gumbleton contacted Capua. “The model was proven,” she says. Capua’s partnership with Samaritan House started when he decided to found Z’s, but initially using someone else’s kitchen. “We looked everywhere for a commercial kitchen that wasn’t in use,” he says. “That’s what led us to Samaritan House, because they had a commercial kitchen.”
From the Near Southside, Inc. economic development nonprofit, Gumbleton and Capua learned of the availability of The Bastion’s 5,000-square-foot center. “Never heard of it, never been there,” Gumbleton told Megan Henderson, the Near Southside’s marketing director who recommended it. Near Southside and the IDEA Works FW incubator on the Near Southside had been trolling for a potential location for a kitchen incubator. The Woman’s Club was in the market for a new caterer and more revenue sources. “The missions are all aligning,” Capua says.
Is your company one of the best places to work for in Fort Worth?
Fort Worth Inc. is once again presenting the Best Companies to Work For in Fort Worth awards. Our program uses a two-part assessment process taking into account the employer’s policies, practices, benefits and demographics, as well as the company’s employees and their engagement and satisfaction. After all, employees know best if their company is a great company to work for or not. The combined employer and employee components assessment produced both quantitative and qualitative data that was analyzed to determine the final rankings. The winning companies will be recognized in Fort Worth Inc. and honored at an awards event to be held in November.
See which companies received the Best Companies to Work For in Fort Worth honor in the Nov./Dec. issue. For more information, visit fwtx.com/fwinc.
The Heritage Rock office buildings in Arlington have the makings of a classy, upscale hunting lodge. But, when the workday ends, its tenants know how to party.
BY SAMANTHA CALIMBAHIN
You can’t miss it. In Arlington, just off Interstate 20 right before you hit The Parks at Arlington mall, stands what appears to be a hunting lodge in the middle of the city — stone walls and stylishly imperfect wood paneling grace the exterior; balconies line the second floor; and through a glass window, a stuffed mountain lion watches cars as they zip down the interstate.
For about 15 years, the Heritage Rock buildings have served as the offices of attorney Rocky Walton and the Patterson Law Group (whose founder, attorney Mike Patterson, owns the property). Patterson purchased the land from Spring Creek Barbeque founder Chris Carroll, and two buildings went up — the 21,000-square-foot Heritage Rock 1 and 23,000-square-foot Heritage Rock 2. Spring Creek ended up taking the first floor of the second building. Other tenants of Heritage Rock include Ameriprise Financial and Arlington Physical Therapy.
The buildings’ design is the handiwork of architect Mojy Haddad of CHS Architects. After over a decade, the place still looks new (and clean, may we add), with much of the original furniture still in place.
“It’s a very rustic, relaxed feel,” Walton says. “A lot of natural wood, leather, fabric, rocks, logs … the kind of thing I like.”
The building materials of Heritage Rock 1 have their own history. The stone comes from an early 1900s schoolhouse that once stood in Oran, Texas, a small town in Palo Pinto County. A small tribute to the school can be found in the lobby, displaying the school’s original metal sign and photos of the original building.
Walton’s office is on the second floor — a classy, cowboys and Indians-inspired space. Aromatic cedar, a wood characterized by a creamy exterior and darkly colored interior, is a dominant material, found everywhere from the door frame of the office entryway to the table in the breakroom. Another prominent wood is
anniversary editions that nod to Patterson’s love for riding motorcycles during his younger years. And the party goes on. To the right, through jail cell-style doors (jail, law, attorneys … get it?), is a party room — decked out in multicolored Christmas lights and framed portraits of Kramer and George Costanza of “Seinfeld” (yes, from that photo shoot).
pecan, used in furniture like the courtroom bench that Walton designed for the lobby. Larry Dennis, owner of Texas Hill Country Furniture in Lipan, Texas, custom-built much of the furniture.
The cowboys-and-Indians theme is everywhere: Native American-style drums, dream catchers and Western art decorate the space. One meeting room features a canoe, sliced in the middle, that serves as a shelf. There’s also a bit of taxidermy: A mountain lion sits perched above the front desk, and as one walks through the halls, he or she may be greeted by a fox that looks like it wants to play.
Walton’s personal office is, quite literally, a home away from home. He used to live in Granbury, and when he needed to travel to Dallas for court appointments, he would sleep in the Arlington office — hence the personal bathroom with a shower and double doors hiding a bed. (He doesn’t use it anymore now that he lives in Kennedale.)
In contrast to Walton’s office, Patterson’s office on the first floor maintains the same lodge-esque vibe, but with a touch of quirkiness. Its doors open to a grand waiting area that’s part-living room, part-man cave. Mangled teak root chairs sit around a stone fireplace with a prize buffalo above the mantel. Overhead, a deer antler chandelier. But, regardless of the woodsy details, a visitor’s eyes can’t help but be drawn to the two Harley-Davidson motorcycles situated on the left and right sides of the room — 2003, 100-year
Around the room, plenty of games sit dormant during our visit, like the pool table, draped in a covering that resembles a Texas flag; a Ping-Pong table; and an old-school Popeye pinball machine in the corner of the room. On another corner, two rope swings hang in front of a mini bar, currently serving as a storage spot for piñatas and stacks of sombreros.
“The line between work and play is not a clear line,” Patterson says. “Our setup lets us squeeze in small bits of play as often as we can with minimal effort and expense.”
Overall, the design plays a role in shaping company culture. Walton says he enjoy his job — the space just makes it better.
“Coming to work is a joy,” he says. “It’s a great atmosphere.”
Entrepreneur Brandon Burton launches a digital dashboard for personal finances. Users may be startled to find they have more liabilities than assets, but they’re in league with most Americans.
BY SCOTT NISHIMURA
Brandon Burton’s first job was selling newspaper subscriptions at age 11 in his Orange County, California, hometown.
Son of a single mom on food stamps, “my mom didn’t really have the financial means to take care of me,” he says. “I just realized that was a way of life for
me. I think it was ingrained in me as an entrepreneur. But it didn’t become clear until way down the line.”
Burton, 34, who served four years in the Marine Corps after high school, moved serendipitously toward a career in wealth management. While in the Marines, fellow servicemen noticed the online trading he was doing in mutual funds and stocks for his personal account. “I’d be doing my own investing, and I was asked to help fellow Marines,” Burton says. “I knew I wanted to be in the financial industry.” Burton, who earned a bachelor’s degree in business from the University of Phoenix while in the service, went to work as a financial adviser after his discharge in 2006. Still, “I was not totally fulfilled,” he says. In 2015, he left to launch a digital personal finance platform.
“I became a financial adviser when technology was really nothing in the industry,” he says. “I knew the technology could assist. People can make money and survive, but their ability to grow their wealth is a different factor. Very few people are truly good at managing their own money.”
Burton, who moved to North Texas and has settled in Fort Worth, licensed a dashboard platform owned by Fidelity Investments. As a financial adviser, “I’d
been using this technology for years,” and it was a relatively inexpensive way into the technology, compared to the monstrous cost of building his own.
It’s the platform for Burton’s Securing Life Today web platform, which he went live with in May. Users can aggregate their accounts online on the encrypted site. “They can see what they have, what they owe, they can budget, set goals, monitor them daily, check their credit,” Burton says. “It lets you do practically everything, except investing and spending.”
Burton charges $4 per month, or $36 per year, for individual users. He’s also marketing the platform to employers, to bundle into their benefits packages. Burton’s also signed several marketing partners, including Fidelity, Discover, TD Ameritrade, Quicken Loans, Rocket Lawyer, eHealth online insurance brokerage, and Paychex HR and payroll solutions partner. He’s also working on a mobile app.
At midsummer, the Securing Life Today site had $30 million in assets represented, and 600 users. One thing Burton has quickly learned on the aggregate: Clients have more liabilities than assets, not a surprise. “The national savings rate is at an all-time low,” he says. “The average person doesn’t have a budget and doesn’t stick to a budget.”
Pass on the meds and go for these foods to help fight allergies this season.
BY SAMANTHA CALIMBAHIN
Achange in weather often comes with more tissues sprawled across office desks and more shouts of “bless you” heard across cubicle walls. But before you reach into your drawer to pass along your handy bottle of Zyrtec to your coworkers, consider a more natural remedy: food.
Local chef Deb Cantrell, owner of health-conscious catering company Savor Culinary Services, has long been a believer in the “food is medicine” mantra. According to Cantrell, certain fruits, vegetables and fish are effective in
helping fend off seasonal allergies. Here are some of her recommendations.
Onions, cabbages and apples Onions, cabbages and apples contain a compound called quercetin, which stabilizes the mast cells that create histamines when your body reacts to an allergen, Cantrell says. Quercetin is also responsible for giving some fruits and vegetables their distinctive reddish-purple color.
“Reddish-purple vegetables in any form are amazing at stopping inflammation in its tracks,” Cantrell says. “If you can’t find that vegetable in that red/purple color, it’s
still beneficial (i.e., if you can’t find red cabbage, regular cabbage will still provide you with some of these benefits).”
Bell peppers, Brussels sprouts, broccoli and kiwi These foods are particularly high in vitamin C, which is a natural antihistamine. Cantrell also recommends cauliflower, cabbage and kale.
Salmon, sardines and mackerel Omega-3 fatty acids found in these fish are good allergy fighters as well, reducing inflammatory and histamine reactions, Cantrell says.
Cantrell says all dairy and grain products aggravate allergies by increasing inflammation and triggering mucus.
With your sales growing and business increasing, you saw an opportunity to expand – and you took it. Good thing you had a like-minded local business expert in your corner: First Financial Bank. We understand where you’re coming from, because we’re from there, too. So you not only get personal, local service. You get fast, local answers.
Twin sisters Susan Gruppi and Jessica Worman build a growing Fort Worth real estate company on new stories in old parts of town.
BY SCOTT NISHIMURA
IGruppi and Worman, now 32, don’t recall how they finished that day. But the story has filled in quickly since Gruppi formed the company in 2014 and her sister came aboard in 2015. With their original investors, they sunk $11 million in 1031 exchange money from the warehouse deal into three more: a Best Buy they sold; commercial building on the Near Southside’s West Magnolia Avenue they remodeled, leased and sold; and a building near their offices that contained the M&O Grill hamburger joint and small museum commemorating the history of Fort Worth’s Leonard Brothers. That building, at 200 Carroll St. northwest of Montgomery Plaza, became the first of 12 that the twins’ M2G Ventures and partners own in a formerly sleepy industrial neighborhood they’ve rebranded The Foundry District. The M&O and museum remain, and the district is home to more than 40 fresh-face retailers, cafes, and creative-office tenants, highlighted by outdoor art, special events, and community partnerships, and aimed at young creatives who want to live, work and play in dense urban spaces.
It was a good question: Susan Gruppi and Jessica Worman had organized 19 investors – dad and one of his business partners, ex-bosses, TCU friends, colleagues – to buy a warehouse. It was their first deal after they left jobs to form a real estate company out of a small coworking space on Fort Worth’s West Side. Pitching the warehouse to a lease prospect, they ended up selling it to him at a $2 million profit after owning it for 60 days. “What do we do for the rest of the day?” they wondered, sitting across from each other in their office in the CoLab near Montgomery Plaza.
ber 2015 until mid-2017, Susan and I didn’t look up,” she says.
Gruppi and Worman next took on the historic O.B. Macaroni pasta plant, at the southwest corner of East Lancaster Street and Interstate 35 West on the Near Southside, and are slowly rehabbing and leasing it for creative office, manufacturing and distribution tenants. As in the Foundry, Gruppi and Worman have linked the project to growing, popular, local brands like Craftwork Coffee, W Durable Goods, Melt Ice Creams and TexMalt. Most recently, M2G purchased a tired commercial building at 710 S. Main St. in the Near Southside’s burgeoning South Main Village and is turning it into restaurant, retail, and creative office, with a cidery, coffee shop, and cooking class place signed so far.
Gruppi and Worman estimate their M2G Ventures and partners have executed about $60 million in transactions, including purchases, capital improvements, and a handful of sales. They estimate they’ve raised more than $25 million in capital through more than 15 deals, with 60 investors. The two have become quickly known for their self-confidence, creativity, and ability to create character in their properties and tell their stories. Earlier this year, Worman was invited to give the retail segment at the Real Estate Council of Greater Fort Worth’s well-attended and anticipated annual Real Estate Forecast. “From about Octo-
“Oh, yeah, who wouldn’t?” Terry Montesi, CEO of Trademark Property Co. in Fort Worth, developer of the Whole Foods and REI-anchored Waterside development in Southwest Fort Worth and recently chosen to lease, manage and form a plan to redevelop the Galleria Dallas, was the twins’ first professional mentor.
“Oh, yeah, who wouldn’t?” he said, when asked if he remembered his first meeting with the sisters. The twins had come to Fort Worth from their native Longview in East Texas to study at TCU. In their junior year, 2007, they formed a real estate club at the Neeley School of Business with the help of professor Joe Lipscomb, who invited several prominent people in real estate to an opening gettogether, with case studies, discussion and dinner. Lipscomb, in inviting Montesi,
told him he had a couple of students he wanted Montesi to meet. “He didn’t tell me they were identical twins,” Montesi says. “My dad was an identical twin.”
After dinner, the twins buttonholed Montesi. “I got seated at a table with one; I don’t remember which one,” he says. “After dinner, she says, ‘Don’t leave, we want to talk to you.’” Soon, Montesi had a twin at each side.
“We are looking for someone to learn from,” Montesi recalls one said.
“We want to intern with you.”
“We’ll work for free.”
“We, not I,” Montesi says. “They were finishing each other’s sentences.”
Montesi brought the twins in as interns, and Trademark hired them full time after they graduated. Gruppi worked for Trademark for seven years in finance. Worman worked there for four years in leasing and moved to another job before she joined her sister at M2G. “It was fun training people who want to learn,” Montesi says. “I knew I was training eventual competitors. It was OK. They reminded me I started my first company at 26.”
marketing and the importance of it in a commodity business, how to make an impact on people [through a project], the balance between calculated risk and reward,” Gruppi says. “I worked there for seven years and talked about having my own company the whole time, with the owner of the company.”
The twins’ father, Richard Miller, is a storyteller, having told Johnny Appleseed stories to children for years. Montesi’s also a storyteller, Worman says. He would drop by Worman’s desk, “and he’d say, ‘Tell me the top three things good that are going on today.’ I learned how to present a story to someone else.”
“If you have daughters…” The twins began learning real estate – and its ups and downs – at an early age. Their parents owned apartment complexes. The twins’ mother, Susan Miller, got information on competitors by impersonating a prospective tenant and taking her elementary school-age daughters along. Their father, in developing a subdivision, would take his daughters on drives to look at houses. From a young age, the sisters “were always doing something together,” Worman says. “Fake restaurants. Selling stuff to family.” If they asked for a package of gum, their dad would ask if they were carrying their allowance money.
To encourage their children – the Millers have three older sons – to save and invest, the Millers set up bank accounts for them and agreed to match their savings from jobs and gifts. “All my kids and grandkids,” Richard Miller says. “Every year, we’d match it. We called it bank day; we’d go down to the bank.” That was until the accounts neared $10,000, he says. “Then we switched to 10 percent.” The Millers also invested in a foreclosed home with the twins when they were 17.
“If you have daughters, of course, you want them to be happy,” Miller says. “You also want them to be independent.”
When they were preschoolers in the late 1980s, the family’s financial fortunes took a hit on what Miller says was bad market timing and a downturn in real estate. The Millers filed for bankruptcy protection and sold their home in Longview; they had a family picture shot in front of it just prior to the filing. When the Millers temporarily moved into a guest home on the property to prepare the main house for sale, Susan Miller, an avocational artist, made tunnel rooms for her children.
“I knew I was training eventual competitors. It was OK. They reminded me I started my first company at 26.”
– Terry Montesi, Trademark Property Co.
The twins confirm this retelling. What they learned from Montesi: “Branding,
“We thought it was awesome,” Worman says of the experience, attributing much of the sisters’ creative energies to their mother.
The Millers rebounded, and today maintain homes in Longview and Fort Worth and invest in their daughters’ deals. “We invest with them 10 percent here and 15 percent there, enough for them to say the family’s participating, but not enough to push out someone else,” Miller says, adding he and his wife are preparing to liquidate much of their investment holdings outside Fort Worth and Dallas to invest in higher levels with their daughters as the deals get bigger.
Miller says he’s drilled his twins to always be wary of the market, a point he illustrates with his family’s financial troubles of the ’80s and ’90s. “We have gambled and lost,” he
says. “But we learned from it. It’s not always up to you. The market is good. We’re in the 10th year of expansion. Will it end? Yes. When? Who knows. Should we be stockpiling cash? Yes.”
Asked if the twins consult their parents on their deals, Miller laughs and says, “They do not.” His old strategy was “clean, paint, remedy problems.” His daughters take a much broader view, re-examining uses and tenant bases. When he and his wife step into one of their daughters’ deals, Miller says, “instead of saying ‘where’s the shag carpet,’ I realize they’re doing this differently.”
When he offered his banking relationships to his daughters as they started their business, they demurred, choosing to develop their own. “They said, ‘We want relationships with our own banks, so in the future, we can have what you have,’” Miller says.
“My knees buckled.” When the twins went off to college, they thought they’d end up in the family real estate business. “Dad said you need to work for someone else” first, Worman says. At TCU, Gruppi earned a Bachelor of Business Administration in finance, with a real estate concentration and Spanish minor. Worman earned a Bachelor of Business Administration in finance and real estate, with a leadership concentration.
In her seven years at Trademark, Gruppi rose to vice president, working in redevelopment and development, financial and investor reporting, sourcing of debt and equity, financial and strategic management of existing portfolio assets, and underwriting new development and acquisition opportunities.
Worman was a senior leasing representative at Trademark, where she specialized in leasing strategy, execution, and project management of super-regional malls and upscale mixed-use centers. She moved to the Dallas-based Open Realty Advisers in 2011, heading retail expansion and strategy across the United States for Apple, J.Crew, Madewell, Tesla, Diane Von Furstenberg, Spanx, Restoration Hardware, and helping lead the firm’s landlord consulting platform.
Richard Miller remembers the call from his daughter Susan when she decided to go out on her own. “Are you sure, Susan, because you’re giving up a good job,” he said. “At that crucial moment, my knees buckled.”
“Always somebody who says, ‘bad idea.’” The Foundry assemblage began with the purchase of the 10,000-square-foot screen printing building. “We needed the project to feel bigger,” Worman says. They purchased the Foundry sites in seven transactions between October 2015 and May 2017. Competitors for the same old warehouses typically saw teardown value and potential redevelopment for apartments. But Gruppi and Worman saw more value in – and paid more for – adaptive re-use and a focus on the industrial, urban and historical architectural details found in their signature projects.
“Nobody would have cursed if we came in here and demo’d all of this,” Gruppi says of the Foundry. “Very rarely does everyone like what we do. There’s always somebody who says, ‘bad idea.’” The twins view their approach as “How can we make money in the gray?,”
Worman says. Sometimes, the banging around of ideas in their heads can be counterproductive, the twins say. “We’re big idea people, which is probably one of our biggest downfalls,” Gruppi says. Too many ideas can “almost get in the way of executing on each one.”
Will Northern, CEO of Northern Realty Group, brought the 710 S. Main deal and leases for the cidery and coffee shop to M2G, as well as several leases for other M2G projects, including the Cowtown Marathon for the Foundry. “A lot of people walk into a building and just see it in its present condition,” Northern says. “Where [Gruppi and Worman]
excel, other developers don’t. They’re fantastic marketers.”
The twins also are strong at assemblages, often working transactions without the help of brokers, Northern says. They have different roles in the company – Gruppi, finance, and Worman, brokering, leasing and marketing – but “they know each other’s silos” and work well together, Northern says.
“Very rarely does everyone like what we do. There’s always somebody who says, ‘bad idea.’” – Susan Gruppi
The twins quickly built a stable of local brands in the Foundry, ranging from Cowtown Marathon’s offices to a recently opened new café and coworking location for Craftwork Coffee, M2G’s first tenant in the O.B. Macaroni building. “If you’ve just built another project, there’s no reason people are going to go in with you,” Worman says.
Jonathan Morris, owner of Fort Worth Barber Shop, paid the twins a visit after they purchased the 200 Carroll St. location and became a tenant in that building, opening a men’s grooming products store called The Lathery, with a location of Fort Worth Barber Shop inside. Entrepreneurial
Fort Worth has produced a burgeoning number of popular, local brands like Morris. “We knew we wanted to be part of that journey,” Gruppi says. “People gravitate toward these brands.”
The twins have maintained Leonard’s Museum as a tenant to retain the district’s historical ties. The museum was created, and is run, by the philanthropist Marty Leonard, daughter of Marvin Leonard, who founded Leonard’s Department Store, Colonial Country Club, and Shady Oaks Country Club. Leonard also built a subway between Leonard’s downtown (it made way in the 1970s for the Tandy Center) and a remote parking lot. The 1,500-square-foot museum, which Marty Leonard opened in 2005, follows the Leonards’ history in Fort Worth and is filled with artifacts depicting a piece of downtown history that no longer physically exists.
Leonard marvels at the job she says Gruppi and Worman have done in reviving the neighborhood. “With all that’s going on, there could be a higher use” for her space, Leonard says, in response to a reporter’s question. “But they haven’t suggested that.”
“Marty is the highest and best use,” Worman says. “History and story. It’s one of the only things that sets us apart from every other development.”
In buying the O.B. Macaroni building, which had been on the market for a year, Gruppi and Worman ran into a break. The owner listed the property at a price reflecting its value as an industrial property. The twins saw greater value, for creative office.
In the first phase of redevelopment, they focused on making the ground floor functional for makers, manufacturers and events, adding electrical upgrades, bathrooms and air conditioning. They repainted the exterior, including its old signs, to revive it, using a small $25,000 loan from the Near Southside nonprofit.
M2G first lured Craftwork Coffee Roasting Company, whose owner Riley Kiltz introduced them to Kari Crowe of Melt Ice Creams and Daniel Wright of W Durable Goods. M2G plans to paint large murals on the plant’s silos that represent the tenants. Future phases, on the upper floors, will include creative office and event space.
“That’s a bold move to take on that property that isn’t an easy renovation and isn’t an obvious match for a certain type of business,” says Mike Brennan, CEO of Near Southside, which has enjoyed a procession of developers who’ve taken on projects that have revived the Southside. “You have to be creative, and you have to get some pioneer tenants in there.”
M2G has grown its staff as the company expands its portfolio. The staff is up to seven now. Longtime friend and artist Katie Murray, whom the twins met in college, is the chief creative officer, responsible for murals, graphic design and curation of art elements.
Gruppi and Worman do some limited consulting work, including advising the Majestic Realty/ Hickman Enterprises partnership on its remake of the historic horse and mule barns in the Fort Worth Stockyards. In the future, the twins say they may even create their own retail concepts. Breaking onto the Fort Worth scene as women has had some awkward moments, but they’ve been relatively few, the twins say. Gruppi: “We’ve definitely put ourselves in more situations where we’re going to be listened to.”
First acquisition: October 2015, 200 Carroll St.
Total acquisitions: Seven, October 2015–May 2017
Where: West Fort Worth, northwest of Montgomery Plaza and off of White Settlement Road bridge opening access to Panther Island major economic development project
Scope today: 14 buildings along Carroll, Weisenberger and Whitmore streets, 98,000 square feet. M2G has created The Foundry District brand for the old neighborhood. Other surrounding businesses like Clay Pigeon and Angelo’s barbecue restaurants identify themselves as being in the Foundry; the Foundry promotes those businesses.
Office tenants: M2G Ventures, Morris Capital Partners, Tactical Systems Network, CG Northern, Holland Collective, Cowtown Marathon, Rogers Healey
Retail tenants: Gifted, The Lathery, Cowtown Marathon, Thrive
Restaurant and Beverage tenants: M&O Burger, Fort Worth
Food Truck Park, Meyer & Sage, Blackland Distillery, Blackland Distilling, Craftwork Coffee Co.
Lifestyle tenants: City Surf Fitness, Love Carmen Rose
Photography, Leonard’s Museum, Fusion Medical Aesthetics, Audacious Life, Doc’s Records and Vintage, and The Grand Berry Theater
Space available: Three office, five restaurant or retail
Acquired: November 2016
Where: Near Southside, southwest corner South Freeway and East Lancaster Avenue, Fort Worth
Total size: 42,000 square feet
Uses: Office, manufacturing, production, distribution Tenants: W Durable Goods, Craftwork Coffee Co., Melt Ice Creams, TexMalt
Space available: 12,700 square feet, ground floor; 7,000 square feet, second floor; 7,000 square feet, third floor
History: Built around 1860 as a stagecoach hotel, the O.B. Macaroni Pasta Factory is one of the oldest remaining buildings in Fort Worth.
M2G renovations: Completed first phase, including renovations to make first floor functional and exterior repaint to restore original character and signage.
Related acquisition: A limited partnership held by Richard and Susan Miller, parents of Susan Gruppi and Jessica Worman, has purchased the 28,000-square-foot location of a mattress store at 210 South Freeway and 501 East Broadway, next to O.B. Macaroni.
Acquired: April 2016
Where: 710 S. Main St., Fort Worth
Total size: 17,500 square feet, retail and creative office
Status: Completion planned fall 2018
Space available: Retail/ restaurant, 2,494 square feet available
Creative office: 9,800 square feet, divisible
What it is: Renovation of a 1950s two-story building in Near Southside’s South Main Urban Village. Renovations left the original brick exterior walls. M2G will put up a full-building exterior mural. Restaurant brands planned for ground floor, and creative office on the second.
Tenants: Locust Cider, Black White & Brews, and The Cookery
Where: 2809 Shamrock Ave., Fort Worth
Total size: 3.75 acres, 20,000-square-foot flex warehouse build-to-suit opportunity
Description: 19,450 square foot concrete tilt wall building with 32 dock-high doors and ramps; 3,200-square-foot concrete tilt wall building used as a car wash and photo studio; 130 surface parking spaces; 120 covered parking spaces
1305 W. MAGNOLIA AVE.
Acquired: March 2016
Sold: June 2017
Total size: 7,094 square feet, restaurant and office
Description: This is one of three investments that M2G and partners made using proceeds from the sale of a warehouse, a deal that propelled the company. M2G remodeled the original 1910 building and three add-ons, exposing the original brick interior walls, and adding new storefronts, Zen atrium, and community mural called “Follow Your Dreams.”
Tenants reopened to the public in
mid-2016
Tenants: Physician Services, Great Harvest Bread Company, Concept Connections
Acquired: 2016
Sold: December 2017
Address: 1300 FM 51, Decatur
Total size: 23,000 square feet retail; 6.39 acres
Description: Retail center
Acquired: October 2015
Sold: September 2017
Where: 5604 SW Loop 820, Fort Worth
Total size: 45,521 square feet, 4.2 acres
Description: This is another of three investments that M2G and partners made using proceeds from the sale of a warehouse, the deal that propelled the company.
Acquired: June 2015
Sold: April 2018
Where: 5702 Locke Ave. and 2812 Horne St.
Total size: 22,288 square feet, retail and office
Description: Renovation completed December 2015, including addition of a 30-foot mural, “Dream on Dreamer,” by artist Katie Murray, M2G’s chief creative officer
Tenants: Mariposa’s Latin Kitchen, Szechuan, Rocco’s Wood Fired Pizza, A Piece of Work, Fort Worth Pediatric & Cosmetic Dentistry, Salon 70
FORT WORTH INC.
ENTREPRENEUR OF EXCELLENCE
We are looking for those entrepreneurs whose vision, creativity and integrity have made Fort Worth the premier place to do business. Fort Worth Inc.’s Entrepreneur of Excellence Awards showcase and honor the contributions of exceptional entrepreneurs in the area. This unique EOE connection has become the voice for the entrepreneurial community in Fort Worth.
This year there will be EOE awards in many categories. Finalists from each category will be featured in a future issue of Fort Worth Inc.
Anyone can nominate an exceptional entrepreneur – you can even nominate yourself. Nominations for the 2019 EOE Awards open in September. For more details on the award and to nominate an outstanding entrepreneur today, go to fwtx.com/fwinc.
Presenting Sponsor:
Supporting Sponsors:
BY SCOTT NISHIMURA
Tarrant County, after years in the making, is finally getting rail service to DFW Airport, when Trinity Metro launches TEXRail on New Year’s Eve between T&P Station on the Near Southside to the airport, with seven stops. Higher-density development has already surfaced around several of the stations. Here’s a look at those, and what could happen next after the airport launch.
T&P STATION, Fort Worth: Katy Lofts T&P is the western-most Fort Worth station on the Fort Worth-DFW Airport TEXRail route, and already is the western terminal for the Trinity Railway Express and served by Trinity Metro buses. The longplanned Katy Lofts transit-oriented development, on the Trinity Railway Express lot at the northwest corner of South Main Street and West Vickery Boulevard, will include a first-phase, mixeduse residential and commercial tower and a parking garage. Commuters who live in the tower can walk a short distance to their TEXRail train. The apartment tower will have a mix of market and below-market rents that help address the central city’s need for more below-market rents. The plan calls for a boutique hotel in a future phase, enabling travelers to hop a train at DFW and come right into where they’re staying in Fort Worth. The project
is expected to help drive future redevelopment nearby, including in the South Main Village. “From a housing perspective, it’s critical,” Mike Brennan, CEO of the Near Southside, Inc. economic development nonprofit, says. “That may be the best hotel site in the city. And we have got to start delivering workforce housing.”
• Project: 10-story, 238-unit apartment. Public-private partnership of Fort Worth Housing Solutions, Matthews Southwest development partner, Near Southside, Inc., and Trinity Metro.
• Apartments: 168 one-bedroom apartments, 68 two-bedroom. Fifty percent market rate. Ninety-three affordable-rate apartments targeted at tenants earning 60 percent of area median income. Fifteen apartments for low-income residents. Those help address need for more below-market rents in Fort Worth and on the Near Southside.
• Ground-floor retail: 12,000 square feet planned, including restaurants, retail and a day care center. Fort Worth Housing Solutions in talks with the YMCA-run Amaka Child Development Center in the Butler housing project.
• Garage: Six stories, 598 spaces for residents, retail customers and rail passengers.
• Funding: 4 percent tax credits, tax increment finance district, Fort Worth city transportation-oriented development bonds,
tax-exempt bonds, private mortgages, North Central Texas Council of Governments.
• Timeline: Financing expected to close first quarter 2019; construction starts second quarter; construction expected to take 24 to 30 months, says MaryMargaret Lemons, CEO of Fort Worth Housing Solutions.
• Planned public improvements: Plaza between apartment tower and hotel, pocket park, streetscape, transit shelters and signage on West Vickery bus routes.
• Future phase: Six-story, $25 million to $30 million boutique hotel fronting West Vickery.
Fort Worth Several developments taking advantage of the new train line have come off the drawing board or are in planning. Those include a residential tower planned by the Nashville-based Southern Land Company, at Eighth, Calhoun, Ninth, and Commerce streets. Southern’s plan was approved conceptually in 2017 by the Fort Worth Downtown Design Review Board. Southern Land must return to the DDRB for final approval; Southern Land executives did not respond to requests for an interview for this story.
The developer of the recently opened Hampton Inn & Suites at 1001 Commerce St. cited TEXRail access in its decision to build the hotel, Andy Taft, president of the Downtown Fort Worth Inc. organization, said.
Texas A&M University in August purchased three parking lots adjacent to its current School of Law building in downtown Fort Worth, in preparation for an eventual expansion that A&M has talked about since it acquired the school from Texas Wesleyan University. The lots, acquired from Texas Wesleyan, are across from ITC.
Robert Ahdieh, the law school's new dean, says conversations are ongoing among local governments, Fort Worth legal community, and A&M System about what's needed and wanted in the law school. He envisions a world-class institution. Guest experts can take trains from DFW Airport, exit at ITC and walk into the law school and their nearby hotels, Ahdieh says.
"What are the investments each of these communities is capable of and inclined to provide?" Ahdieh said in an interview in late August. In the interview, he sought to quash speculation in some Fort Worth circles that the law school could end up some-
where other than downtown Fort Worth. "The university and the law school have no notion of relocating away from Fort Worth, and frankly away from downtown," he said. "For lawyers, it is the logical place to be."
Elsewhere downtown, Fort Worth’s planned renovation and expansion of the north end of the convention center, and construction of a convention hotel, also will be “directly and positively impacted by the train to the airport,” Taft said. ITC, also a Trinity Railway Express train station and Fort Worth’s bus connection hub, has been identified as a prospective Fort Worth terminal for bullet train service if that eventually comes to the city.
Fort Worth The Northside station has generated the least development interest among TEXRail stations. Relatively close to the Stockyards, it’s not connected, and property uses around the station are a mix of industrial and vacant. The city’s tried unsuccessfully to obtain fund for a Northside/Stockyards TEXRail Station development plan and form-based code that would govern development. “We’re looking for alternatives that would make it more likely to develop mixeduse” and more likely to create demand for the real estate, possibly city-initiated zoning changes, Eric Fladager, the city’s comprehensive planning manager and transportation-oriented development specialist, says.
With the station under construction, there’s still been virtually no real estate movement of note, Fladager says. “I think that area will change once the station is open,” he says. The best opportunity to connect the station intersection to the Stockyards may be down the Lebow Channel, a creek that runs through Trail Drivers Park between Northeast 28th and Northeast 23rd streets, Fladager said. Northeast 23rd runs along the south side of the Stockyards and cuts across the railroad tracks to Trail Drivers, and some trail already exists. “The trail extends almost to 23rd Street,” he said.
The Mercantile stop is perhaps the most unusual along TEXRail’s route, because Mercantile Partners – owner and developer of Mercantile Center – owns all of the property around the train stop, and uses are major office and warehouse – none of the sort of mixed-use
development that surfaces around train stations. “Everybody dreams of being Mockingbird Station in Dallas,” Brian Randolph, Mercantile Partners’ president, says. That’s the big light rail-fed station with apartments, movie theater, stores, restaurants and bars, and bus line feeding the nearby SMU. “This is not going to be Mockingbird Station. It’s either going to be commercial-type use or residential.”
Mercantile has 1,500 acres, is 50 percent developed and hosts 10,000 employees. Two hundred acres surround the train station that's under construction. Haltom City, to the east of North Beach Street, is residential.
“What we’re waiting on is someone with a vision we think would be a complement to the rest of the business park,” Randolph says. If the ultimate plan is for residential or retail uses, Mercantile most likely would sell the piece around the station to a developer, Randolph said.
• Smithfield Villas: 90-lot townhome and patio home development underway by Our Country Homes, $27 million.
• Iron Horse: Two mixed-use projects totaling 15,000 square feet of commercial with 600 multifamily units underway, by
The Wolff Company and Right Quest LLC, $70 million. Plus Iron Horse Commons, a 160-lot townhome and patio home development by Our Country Homes and CB JENI, $40 million
Grapevine Main: The most ambitious of development around the TEXRail stations is Grapevine’s $105 million public/private sector transportation-oriented development underway at Main Street and Dallas Road. The train will dump passengers – and pick them up – just to the south of the city’s vibrant downtown shopping and entertainment district. “If you have a three-hour layover, you can hop on a train [at DFW Airport] and be in downtown Grapevine in eight minutes,”
Bob Baulsir, Trinity Metro senior vice president, says. The train’s expected to be a boon for employers, particularly the city’s hotels like the Gaylord Texan, Baulsir said. “They struggle with finding workers,” Baulsir says. “This is going to provide a back-and-forth for a ton of people.”
• Outdoor plaza: 38,000 square feet, up to 3,500 guests.
• Rail station: 42,000 square feet, five stories. 19th century-influenced design, market, entertainment and food hall experiences, meeting space, offices and community event space.
• Hotel Vin: Six-story, 121-room boutique hotel.
• Parking: 552-space garage.
WHAT’S NEXT: Southwest Fort Worth? What’s next after the Fort Worth-DFW Airport launch? Trinity Metro executives earlier this year submitted a proposal to the City of Fort Worth for a $500 million extension of TEXRail from T&P Station southwest to Summer Creek in the Chisholm Trail Corridor, with stops at the Medical District next to Baylor Scott & White All Saints Medical Center, TCU/Berry at Eighth Avenue and West Berry Street, and Granbury Road at Interstate 20. That segment was slated originally to be part of the Fort Worth-DFW Airport launch, but it was severed from the launch to focus on getting the airport service open. Trinity Metro's proposal calls for double-tracking along the entire route, to mollify Fort Worth and Western Railroad, which owns the right of way.
The city’s examining what to do next with TEXRail as part of a broader study it commissioned in August on transit priorities, in which it hired a consultant to recommend priorities among the big menu of options that Trinity Metro laid out in 2015. The city also funded a series of pilot projects on firstmile/last-mile transit options. “At the end of the day, we’ve got to figure out what we can pay for,” Susan Alanis, the assistant city manager who took on the transit portfolio earlier this year, said.
Fort Worth Inc.’s Dream Office general contractor, PRIM Construction, has built an impressive portfolio since Beth and Trent Prim founded the company in 2007 on the precipice of recession.
BY
SCOTT NISHIMURA
The economy was headed into recession in 2007 when Trent Prim left his job at the construction company Linbeck to start a firm with his wife, Beth. The couple had one job in hand. “It wasn't as bad (the first year) as the next year or the next couple of years,” Trent Prim jokes.
Today, the company has an $18 million backlog, three LEED-certified, energy-efficient projects under its belt, and a client roster that includes Oncor Electric Delivery, Cook Children’s, Billy Bob’s Texas, and CATS Theatre in Arlington. With Beth Prim as CEO, the company ranked 21 among the nation’s 50 fastest-growing women-owned or led privately held businesses in 2017 – an annual list compiled by the Women Presidents’ Organization and American Express. PRIM Construction has been growing sales at 30 percent a year since 2013, as it emerged from the recession, and should hit $20 million in sales this year, the Prims said.
“We started out very humble, and we stayed very humble,” Trent Prim says.
In 2013, the Prims purchased an old Piggly Wiggly store on Roberts Cut Off Road in west Fort Worth and remade the 22,000-square-foot building – 4,500 square feet for the company’s contemporary headquarters and the remainder leased to tenants. The building is now on the northern edge of the River District, a mixed-use redevelopment of more than 60 acres off of White Settlement Road and the Trinity River that’s underway and being led by Fort Capital.
22,000-square-foot Fort Capital-developed building underway at White Settlement Road and Nursery Lane in the River District. It’s the first collaboration between Prim and Fort Capital CEO Chris Powers, Jr. “We knocked on the door at the right time,” Prim says.
Fort Capital finished a two-story, 16,800-square-foot building in 2017 at Nursery Lane, south of White Settlement Road. The building, occupied by a complementary collection of businesses ranging from oil and gas to family office, law and construction, got to 100 percent full quickly. The Dream Office building is next to the first building, and it will follow the old-industrial style of the first.
The building will feature the same 1800s-era interior brick salvaged from an old factory in South Carolina that the first building has. The exterior brick, like the first building, will be of a vintage style.
“We knocked on the door at the right time.”
- Trent Prim
As in the long-running series of Dream Homes and Homes of Dreams put on by Fort Worth Inc.’s sister publication, Fort Worth Magazine, PRIM Construction will team with some of the area’s finest vendors to build a project with the latest design trends and amenities. The $3.6 million building, designed by The Beck Group, is scheduled to be complete by March 2019.
The Prims’ timing on their purchase was good, coming before plans for the River District emerged. “To our benefit, nobody knew what it was,” Trent Prim jokes. “Now, we’re ideally situated on the north end of the River District.”
PRIM Construction is general contractor for Fort Worth Inc.’s inaugural Dream Office project – a three-story,
PRIM Construction offers a range of services, including design build, design management, development cost estimation, construction design management, construction manager at risk, negotiated contract, environmental services, movement of projects through approval processes, and site feasibility selection.
The company today has 12 employees, and the company has worked to maintain a family culture, the Prims say. Employees’ children “have been raised in the office in playpens,” Beth Prim says.
BY SCOTT NISHIMURA
The Tarrant County region is rich in opportunities today for real estate. Fort Worth Inc. wanted to identify our area’s top-producing commercial brokers and licensed sales agents.
Michael Berkowitz
CEO
Colonial Commercial Real Estate
Landlord representation, office
James K. Blake
Managing director
SVN/Trinity Advisors Retail, industrial
Jerry Bolz Partner
Worth Commercial Real Estate Investment sales, tenant representation, office leasing
LeAnn Brown
Managing partner-broker Silver Oak Commercial Realty Office, warehouse
Todd Burnette
Managing director JLL Fort Worth Office tenant representation
Stephen Coslik Chairman The Woodmont Co. Retail
George Curry
Senior vice president/Industiral and logistics JLL Fort Worth Industrial
David Dunn Managing director/Principal broker SVN/Dunn Commercial Office, industrial sales and leasing, tenant representation
Bill Ellis Founder, principal and broker Ellis & Tinsley Office, retail investment sales
Eric English President and broker English Realty Office, retail leasing and sales
Jordan Foster
Vice president of brokerage and development Peyco Southwest Realty Commercial, industrial owner/ tenant representation
Grant Gary President, brokerage services The Woodmont Co. Retail
Jack Huff Principal Transwestern Office
Bill Jordan First vice president, investments Marcus & Millichap Retail
Brandon Karr First vice president, investments Marcus & Millichap Self-storage
Jim Kelley Principal, broker Champions DFW Commercial Realty Brokerage
Sarah LanCarte Managing director Fort Capital Industrial
Jim Leatherwood Managing partner Silver Oak Commercial Realty Retail
Scott Lowe Partner Vision Commercial RE DFW Retail/office tenant and landlord representation, and investment sales
Moore Matthews Broker associate Matthews Commercial/KW Commercial Office, retail sales and leasing
Jon McDaniel Managing director-retail NAI Robert Lynn Retail
Pat McDowell
Executive vice president JLL Fort Worth Office tenant representation
Michael McGee
Owner McGee & Associates Tenant representation; leasing and sales
Richard Minker
Senior vice president, Fort Worth Colliers International Self-storage, office tenant representation
Will Northern Broker and CEO Northern Realty Group Site selection and sales
Debra Perryman
Managing partner/MCNE/ CPRES/Mediator Silver Oak Commercial Realty Mediation
Don Phifer
President Phifer & Associates Land sales
Grant Pruitt
President, managing director Whitebox Real Estate Office, industrial, commercial property/land sales
Steve Relyea
President The Relyea Co. Office, industrial sales and leasing
Beaux Riley
Senior vice president Advisors Commercial Real Estate DFW Investment sales, leasing
Donnie Rohde Marketing director Holt Lunsford Commercial Industrial
Jim Sager Vice president Transwestern Investment sales
Robert Sawyer Principal/broker
Formation Real Estate Oilfield and industrial service, leasing and sales
Bob Scully
Senior vice president, corporate advisory services, and broker CBRE
Industrial
Roger Smeltzer Principal/broker
Vision Commercial RE DFW
Retail/office tenant and landlord representation, and investment sales
Gary Smith
Leasing manager and broker
Andrews-Dillingham
Properties
Landlord representation, office
Benjamin Sumner
Managing partner and broker
Centurion Real Estate
Partners
Office, industrial sales, development, leasing
C.B. Team
Vice president and principal Ellis & Tinsley
Industrial, retail
Bill Tinsley
Broker
Ellis & Tinsley
Investment office and retail sales, land
Gary Vasseur
Managing director
Vasseur Commercial Real
Estate
Leasing, sales, acquisitions
Eric Walsh
Principal and agent
GWW Real Estate
Land sales
Russ Webb
Managing partner
Silver Oak Commercial Realty Office, land, industrial, investment sales
Ryan Wood
Executive vice president TCRG Properties
Industiral, office, retail, medical, land investments for family office
David Adams
Assistant vice president
The Woodmont Co.
Project leasing, retail tenant representation
Erik Blais
Vice president, Fort Worth office division
Bradford Office project leasing
Paul Blight
Senior vice president
Glacier Commercial Realty
Office tenant representation
Ford Braly
Senior associate
Marcus & Millichap Multifamily
Theron Bryant
Principal
Advisors Commercial Real
Estate DFW Office landlord representation
Matt Carthey
Fort Worth partner, shareholder Holt Lunsford Commercial Office, industrial
David Cason
Director of project leasing, office Holt Lunsford Commercial Office
Forrest Cook
Senior associate, Fort Worth Stream Realty
Industrial, commercial property/ land sales
Bryan Dyer
Senior vice president
The Woodmont Co.
Retail project leasing, tenant representation, general brokerage
Jennifer Dyess
Commercial real estate professional
Colonial Commercial Real
Estate
Retail leasing, sales and acquisitions
Jim Eagle
Executive vice presdent, commercial Briggs Freeman Sotheby’s
International Office, retail, flex, land sales
Barrett England
Vice president
Vision Commercial RE DFW
Retail/office tenant and landlord representation, and investment sales
Keith Fisher
Principal
Centurion Real Estate
Partners Office, industrial, retail, land sales
Chris Gainey
Vice president, investments
Marcus & Millichap
Retail
Jamie Galati Vice president
JLL Fort Worth Office, industrial tenant representation
Nicki George Agent/property manager LTG & Associates Investment sales
Jeff Givens
Principal/industrial Transwestern Industrial
Michael B. Gonzalez
Senior director
Vision Commercial RE DFW Retail, office leasing
Eric Goodwin
Director of office/industrial services Champions DFW
Commercial Realty Landlord/tenant representation and investment sales
Renee Guy-Efimoff
Vice president
SCM Real Estate Investment sales, landlord/ tenant representation
Evan Hammer
Associate vice president Whitebox Real Estate Office, industrial, commercial property/land sales
David Harris
Senior associate Whitebox Real Estate Office, industrial, commercial property/land sales
Todd Hawpe Principal Transwestern Industrial
Todd Hubbard
President-Fort Worth/principal NAI Robert Lynn Industrial
Peter Jacobsen
Senior vice president
The Woodmont Co.
Land development, leasing and sales
Rudy Janecka
Director of retail services Champions DFW Commercial Realty Retail
George Jennings
Marketing associate Holt Lunsford Commercial Industrial
Nanci Johnson-Plump
Vice president, brokerage services CBRE Office
Kirk Kelly Principal Transwestern Office
Drew Kile
Senior vice president, investments Marcus & Millichap Multifamily sales
Steve Koldyke
Senior vice president, advisory and transaction services CBRE Industrial
Seth Koschak
Managing director, Fort Worth Stream Realty Office, industrial, commercial property/land sales
Blake Lloyd First vice president CBRE Office
Tyler Maner
Vice president, Fort Worth office division
Stream Realty
Office, commercial property/ land sales
How we did it: We ran several screens, including running lists of the top brokers and agents in the county by square-footage transactions closed and total transactions closed, and compared the two. We also asked commercial real estate firms to identify their top producers for 2017. We considered only brokers and sales agents who are licensed in Texas. The result is Fort Worth Inc.’s inaugural Top Commercial Brokers and Agents 2018. – Fort Worth Inc.
Jeff Marek
Senior director
Vision Commercial RE DFW Retail/office tenant and landlord representation, and investment sales
Ryan Matthews
Executive vice president JLL Fort Worth Office tenant representation
Mark McCoy
Sales manager
Marcus & Millichap Commercial property sales
Karen Mitchell
Executive vice president, brokerage and asset management The Woodmont Co. Retail landlord/tenant representation, property management
Bobby Montgomery
Market director NAI Robert Lynn Retail
Dan Morris
Senior advisor
SVN/Dunn Commercial Industrial/office sales and leasing
Jake Neal
Marketing associate Holt Lunsford Commercial Industrial
Michael Newsome
Executive vice president NAI Robert Lynn Industrial
Judy Nitzinger Vice president
Advisors Commercial Real Estate DFW New project leasing, business relocation
Lee Owen
Senior associate Vasseur Commercial Real Estate Investment sales, landlord/ tenant representation
Colt Power
Executive vice president
NAI Robert Lynn Office
Jeff Rein
Associate, Fort Worth industrial division
Stream Realty
Industrial, commercial property/ land sales
Alan Rose Brokerage associate
Peyco Southwest Realty
Investment sales, landlord/ tenant representation
Geoff Shelton
Managing principal, Fort Worth office division
Holt Lunsford Commercial Office
Al Silva
Senior managing director, investments
Marcus & Millichap Multifamily
Michael Spain
Executive vice president, managing partner, Great Southwest District Bradford Industrial
Nick Talley
Senior vice president, managing partner, Fort Worth
Bradford Industrial, flex, office
Frank Taylor
Senior vice president/agency leasing
JLL Fort Worth Office agency
Justin Toon
Associate, Fort Worth
Stream Realty Office, commercial property/ land sales
Casey Tounget
Broker
Transwestern Landlord representation, office
Michael Tran
Senior director
Vision Commercial RE DFW Retail/office tenant and landlord representation, and investment sales
David Walters
Senior vice president CBRE Office
Brice Wells
Associate CBRE
Industrial
In need of that perfect location for your office, manufacturing or warehousing space? Maybe you’re looking for commercial or residential investment property. The commercial Realtors, advisors and property managers on the following pages would like to tell you about themselves, their practices and why working with them will help facilitate your professional goals. The information in this section is provided by the advertisers and has not been independently verified by Fort Worth Inc.
SPECIALTY: Trusted real estate advisors and managers providing a full range of services to commercial real estate occupiers, owners and investors, offering hands-on, local thought leadership with an enterprising culture. AWARDS/HONORS: Ranked among top 100 global outsourcing firms by IAOP for 13 consecutive years, more than any other real estate services firm. Ranked No. 1 property manager in the world by Commercial Property Executive for two years in a row. WHY CHOOSE THEM: Because of our unique culture, we think differently; we share innovative ideas and offer creative effective solutions that accelerate our clients’ success. Our success comes from taking our business (but not ourselves) seriously – and enjoying what we do. MOTTO: Client First. PHILOSOPHY: Our philosophy revolves around the fact that the best possible
results come from linking our global enterprise with local advisors who understand our clients’ business, market, and how to integrate real estate into a successful business strategy. FREE ADVICE: Choose a commercial real estate advisor or manager who will help clients achieve their greatest potential. PICTURED: (left to right) Aaron Cullen, Chad Snyder, John Grace, Dani Hall, Jim Nowell, Richard Minker and Steve Everbach.
CONTACT INFORMATION: 1200 Summit Ave., Ste. 750 Fort Worth, Texas 76102
817.335.5600
colliers.com/en-us/dallasfortworth
SPECIALTY: Oilfield Service Facilities, Industrial and Land Brokerage. We also offer Project Leasing, Relocation Consulting and Asset Management for industrial investment properties. EDUCATION/CERTIFICATIONS: Robert Sawyer and John Jinks are both CCIM certified and hold individual and corporate broker licenses in Texas. AWARDS/HONORS: Costar Power Broker awards in DFW and Austin; Blacks Guide top 35 under 35; former NAI Global Elite recipient. PROFESSIONAL MEMBERSHIPS/ AFFILIATIONS: CCIM and GFWAR. GREATEST PROFESSIONAL ACHIEVEMENTS: Our firm has completed over 250 transactions since inception in April 2015. AREAS SERVED: DFW, Permian Region, South Texas, Unconventional Shale Plays across the U.S. WHY CHOOSE THEM: We are physically present at all stages of a transaction. Formation provides the highest level of real estate services to our clients without being
restricted to a geographic area. MISSION: Our mission is service, focused on providing clients maximum value with respect to their real estate position. FREE ADVICE: Work with people who are passionate about what they do every day. We believe our services support the growth of domestic energy production and the local business community. Industrial real estate is our business, and our passion is helping a project improve a location or see an entrepreneur thrive and benefit his or her community with economic impact.
PICTURED: Robert Sawyer, John Jinks and David B. Barber.
CONTACT INFORMATION:
2906 SE Loop 820, Ste. G • Fort Worth, Texas 76140
817.368.6050 • rsawyer@formationtx.com formationtx.com
SPECIALTY: Commercial and industrial brokerage and investments. EDUCATION/CERTIFICATIONS:
Auburn University, Bachelor of Science in Business Administration (Finance) and Bachelor of Arts (Spanish); Society of Industrial and Office Realtors (SIOR); Certified Commercial Investment Members (CCIM).
Sarah has been recognized as a leader and market expert in commercial real estate not only by the community and her clients, but also by her peers. She was one of the youngest people to have made partner at a national brokerage firm by age 28. In her most recent role, prior to starting her own firm, she helped establish and lead a team to grow the company’s commercial and industrial holdings from zero square feet to over 1.5 million square feet in 14 months. Since beginning her career in commercial real estate in 2010, Sarah has closed over $185 million in transactions totaling over 5 million square feet. WHY CHOOSE HER: Sarah is focused on understanding the needs of her clients and works relentlessly to find the best solutions. It is about understanding the market, having the experience, and always putting the client’s best interest first. FREE ADVICE: When you are negotiating a real estate deal, make sure you have someone who understands the market. Having the wherewithal of the market fundamentals such as competition, vacancy, rental rates and local legal implications is critical in making savvy decisions. PICTURED: Sarah LanCarte.
CONTACT INFORMATION:
3116 W. 5th St., Ste. 103 • Fort Worth, Texas 76107
817.228.4247
lancartecre.com sarah@lancartecre.com
SPECIALTY: Commercial Real Estate Brokerage, Seller/Landlord and Buyer/Tenant Representation, and Property Tax Consulting. EDUCATION: Bachelor of Business Administration in Business and Accounting, Lamar University (2004); Master of Business Administration in Real Estate, University of Texas at Arlington (2007). PROFESSIONAL MEMBERSHIPS/AFFILI -
ATIONS: Licensed Texas Real Estate Broker; Certified Commercial Investment Member (CCIM); Arlington Board of Realtors member (ARBOR); Licensed Property Tax Consultant. WHY CHOOSE THEM: Peyco Southwest Realty has been committed to helping clients understand and navigate the commercial real estate world since 1976 with an approach built on four key principles: market knowledge, broad expertise, deep experience and personal service. GREATEST PROFESSIONAL ACHIEVEMENT: Since joining Peyco Southwest Realty in 2006, Jordan Foster has closed over 1000 transactions valued at over $100,000,000. GREATEST PERSONAL ACHIEVEMENT: Being drafted by the Detroit Tigers Baseball organization in 2004. FREE ADVICE: Always protest your property tax value every year. COMPANY PROFILE: Peyco Southwest Realty, Inc. is a full-service commercial real estate company, with services including commercial leasing and brokerage, property tax consulting, commercial appraisal, property management, and zoning consulting. Other members of the Peyco Southwest Realty Team: Jim Maibach - President, Kathi Frawley, Michael Haliburton, Austin Goode, BJ Hall, Alan Rose, Leslie Tolliver, Natalie Ray, Larry Wallace, and Robert Willis. PICTURED: Jordan Foster.
CONTACT INFORMATION:
1703 N. Peyco Drive • Arlington, Texas 76001 817.467.6803 • Fax 817.465.7464
peycosouthwest.com jfoster@peycosouthwest.com
SPECIALTY: Land and Investment Sales. EDUCATION: BBA from University of Texas Arlington. AWARDS/HONORS: Being awarded the Partnership Award by the Fort Worth Home Builders Association while on the City Council and being honored by the Catholic Diocese of Fort Worth on National Philanthropy Day in 2010. Previously serving on the Board of Directors of a local bank for 10 years and previously serving on the North Richland Hills City Council.
MEMBERSHIPS/AFFILIATIONS: Member of National Association of Realtors, Texas Association of Realtors, Greater Fort Worth Association of Realtors and North Texas Commercial Association of Realtors.
Being recognized by clients and colleagues as a consummate professional with a high degree of integrity and experience in Commercial Real Estate Brokerage and Development. AREAS SERVED: North Texas primarily. WHY CHOOSE HIM: I’m committed to meeting the needs of my clients. My experience in commercial real estate, development, banking and working with governmental entities enables me to provide my clients with a comprehensive approach to their real estate needs. MOTTO: I’ll take care of it.
FREE ADVICE: Choose your real estate broker wisely based upon their experience and knowledge of the type of transaction.
CONTACT INFORMATION: 817.427.9545 LandDeals.com Phifer@LandDeals.com
SPECIALTY: Regional real estate brokerage whose managing partners have more than 75 years combined experience in Texas, including Seller and Buyer Representation, Site Selection, Land Development, Leasing, and Landlord and Tenant Advisory Services. AWARDS/HONORS: Recently include D Magazine CEO Power Broker Awards for all partners in 2017 and 2018; 2017 Top 3 in Best of Denton County Commercial Real Estate Brokers. MEMBERSHIPS/AFFILIATIONS: NTCAR, CCIM Institute, SCR, ICSC, Realtors Land Institute, as well as other civic and professional organizations including Chambers of Commerce memberships in Grapevine, Flower Mound, Southlake, HEB, and Lewisville. LEADERSHIP POSITIONS: We believe in giving back to the communities that we work/live in. Leadership positions include Past President of Grapevine Rotary Club, Charter member of Cross Timbers Rotary Club, Executive Board of Grapevine and Flower
Mound Chambers of Commerce; Texas Tech Rawls College of Business Advisory Council; Texas Tech Alumni Association National Board and various financial and nonprofit advisory boards. WHY CHOOSE THEM: We all have uniquely different personalities and strengths. We can work together or separately – whatever makes the most sense for our clients so that we may best serve them. With every deal, we strive to create value for our clients by going the extra step to meet and exceed their goals. PICTURED: Russ Webb, Debra Perryman, LeAnn Brown, Jim Leatherwood.
CONTACT INFORMATION:
2805 Market Loop, Ste. 100 • Southlake, Texas 76092
817.849.8282 • Fax 817.849.8281 silveroakcre.com • labrown@silveroakcre.com
SPECIALTY: Commercial real estate brokerage services, including agency leasing, tenant advisory services, asset services, capital markets, sustainability and research. AWARDS/HONORS: Transwestern has been selected as one of the Best Places to Work in Dallas-Fort Worth for nine years by North Texas publications. Our firm has been named in Texas Monthly magazine as a Best Company to Work For in Texas for nine consecutive years. MISSION STATEMENT: Empowering good people to do extraordinary things together. We consistently strive to deliver value to our clients by empowering our people and fostering an entrepreneurial environment. MEMBERSHIPS/AFFILIATIONS: NTACR, Fort Worth Chamber of Commerce. GREATEST PROFESSIONAL ACHIEVEMENTS: Our firm has been a leading provider of commercial real estate services for more than 32 years. One of the greatest professional honors for our team is Jack Huff’s induction into the North Texas Commercial Associa -
tion of Realtors (NTCAR) Commercial Real Estate Hall of Fame in 2017. AREAS SERVED: Fort Worth, Dallas and surrounding suburbs and counties. WHY CHOOSE THEM: We are collaborative entrepreneurs setting a higher standard on what it means to provide a higher level of service in Fort Worth. No matter how much we grow our platform and expand our resources, our approach to commercial real estate will always be peopledriven and client-focused. PICTURED: Jim Sager, Theron Bryant, Todd Hawpe, Jeff Givens, Kirk Kelly, Jack Huff; Casey Tounget (not pictured)
CONTACT INFORMATION:
777 Main St., Ste. 1100 • Fort Worth, Texas 76102 817.877.4433 • Fax 817.870.2826 transwestern.com/fortworth leland.prowse@transwestern.com
SPECIALTY: Office and Industrial Tenant Representation. EDUCATION/ CERTIFICATIONS: David Harris – BS, Economics, Texas A&M University. Grant Pruitt – BBA, Real Estate Finance, SMU. Evan Hammer – BBA, Entrepreneurial Management, TCU. MEMBERSHIPS/AFFILIATIONS: SIOR, CCIM North Texas, Society of Commercial Realtors, Fort Worth Chamber, Dallas Regional Chamber, CoreNet Global, NTCAR, Texas Association of Realtors, National Association of Realtors, Entrepreneurs’ Organization, Vistage Worldwide. AREAS SERVED: Heavy focus on Dallas/Fort Worth Metroplex, but work with clients globally to provide a single point of contact. WHY CHOOSE THEM: We are tenant-focused and have no conflicts of interest with landlords. We offer an unparalleled service and transparency to our clients. We have in-house project management and provide turnkey solutions to our clients. MISSION STATEMENT: To be the premier commercial real estate firm in the country. We focus on making positive impacts to achieve our client’s
goals. We are dedicated entrepreneurs with the experience found at the largest global real estate firms and maintain an unmatched nimbleness, flexibility, and autonomy. Our strong negotiation skills partnered with our knowledge and passion enable us to deliver unmatched value for our clients. FREE ADVICE: Whether it be negotiating a renewal or relocation transaction, always engage representation whose fiduciary is strictly to your company. PICTURED: David Harris - Senior Associate; Grant Pruitt, SIOR - President and Managing Director, Co-Founder; Evan Hammer - Associate Vice President.
CONTACT INFORMATION:
201 Main St., Ste. 600 • Fort Worth, Texas 76102
817.502.1518
whiteboxrealestate.com
contact@whiteboxrealestate.com
Aggie-educated architect Debbie Fulwiler takes a childhood passion and grows it into a Fort Worth firm with clients like the cities of Fort Worth and Arlington and University of North Texas. Her next project: rehab of the Pioneer Tower at the Will Rogers Memorial Center.
BY SCOTT NISHIMURA / PHOTOGRAPHY BY OLAF GROWALD
Debbie Fulwiler’s name isn’t on her Fort Worth architecture firm, Elements of Architecture, but that’s by design. “I wanted something a little more generic that would be longer-lasting,” she says. Plus, it meets her personality, she says. “I’m not a big fanfare person. I’m just trying to make sure I take care of the clients.” Fulwiler, a Texas A&M-educated architect, went to work for Fort Worth’s Gideon Toal firm in 1996 at age 32, and with the firm’s partners, simultaneously started a separate company that focused on telecom projects. She gradually bought out her partners and left Gideon Toal to focus on that company in 2006, becoming sole owner and renaming it Elements of Architecture. Elements has been boosted through the years by “IDIQ” contracts with governmental entities like the city of Fort Worth that facilitate continuous work over fixed periods. The city recently chose Elements to work on the rehab of the Pioneer Tower at the Will Rogers Memorial Center. Today, Elements also is working on a lake house at Richard Simpson Park in Arlington, facilities for the Fort Worth Police, expansions to the city’s environmental drop-off centers, University of North Texas Coliseum renovation, and an arts and music project for Texas Woman’s University in Denton. In 2008 and 2015, Elements made the Aggie 100 list of the fastest-growing Aggie-led companies worldwide. In 2014, Fulwiler, a member of the Fort Worth chapter of the Entrepreneurs’ Organization, moved her company into a two-story, 6,500-square-foot building she built on the Near Southside. Most recently, her husband, Jerry, left a job in commercial real estate to join Elements as its business development director.
I want to be an architect: I think I was in third grade when I decided I wanted to be an architect. I remember one of our class assignments was to build a model. Anything. Just build something. I don’t really remember what I built.
Growing up around this: My dad was a general contractor, so I’ve kind of been around it all my life.
Becoming majority
owner, 2004: That was key for us, because we were able to get certified as a woman-owned business. It didn’t really provide us with work, but what it did was open doors for me with larger organizations. What happens is 90 percent of the time, the organizations that are hiring you and have these percentages they have to meet for minority and women-owned firms, it’s a subcontracting goal. Architects always prime
the projects, so they don’t count my percentage of the project.
Managing staff: We have eight employees. I think I’ve been up to double that [during telecom boom]. I really found [eight] is a great number. I like to stay very involved in the projects.
Ups and downs: When you talk about the ups and downs, probably the biggest learning experience was when we
were going through the downturn with telecom.
One of the companies we were working for had filed for bankruptcy. Under the bankruptcy [in 2005], they were allowed to come back to everybody they paid out money to in the last 90 days and ask for that money back. It was $320,000. I had to hire a New York attorney, and I had to fight it. I was able to reduce that down to about $80,000.
Prospecting: By the time something’s hit the news, it’s already gone through some development with the architect. It’s really all about keeping in touch with people.
Growth goals: Of course, I have my revenue goal I want to meet. It’s a steady growth. I feel it’s more important I take growth I can manage. I don’t want to get stuck behind a desk all day and not do what I want to do.
With the economy in recession and architecture and construction ground to a halt, entrepreneur Nolan Bradshaw decided to start his own firm from scratch. His Cornerstone Projects Group, its latest project a collaboration in Fort Worth’s South Main Village, bounds ahead.
BY JASON FORREST Forrest Performance Group
Many entrepreneurs chose their path. If you ask Nolan Bradshaw, he would tell you his path into entrepreneurship came with a gentle nudge in the back.
That perhaps made his run-toward-theroar moment all the more a leap of faith.
The 2007 market crash was tough on a lot of industries, but architecture was one of the hardest hit. Companies nationwide froze their hiring, construction projects all but ground to a halt, and about 30 percent of the industry
Why did Nolan Bradshaw decide to start his own company? See fwtx.com/videos for Jason Forrest's video interview.
was laid off in basically the blink of an eye. In a cruel twist, that 30 percent never returned to the industry.
At the time, Bradshaw worked for a firm in Dallas and saw the ominous wind blowing. He opted to launch his own consulting firm, run toward the roar, and start from scratch. His company, the Cornerstone Projects Group, based in Fort Worth, is the fruit of a decade’s worth of work.
“It was very organic in a sense,” Bradshaw says. “You start out in this industry environment, and then you kind of grow it to something you see a demand for. It worked out.”
The demand Bradshaw saw in the Fort Worth area was far more than just architecture. Bradshaw is a licensed architect, but Cornerstone, which opened in 2010, does a bit of everything. They’re in construction, designbuild, and architecture. Cornerstone’s focus is on sustainability, which has come to the fore with the company’s redevelopment of a mixed-use property at 710 South Main St. in the South Main Village. M2G Ventures – headed by Susan Gruppi and Jessica Worman – has teamed with Bradshaw on the project, a redevelopment of the All Needz plumbing building. The first tenant, a cider house, plans to open in September.
too. That was really the reason I didn’t just wait it out and find another job. It was that curiosity that spurred me to get into the development business.”
“I said, I really want to see what our clients are doing on the deal side, because I think that’s interesting too ... It was that curiosity that spurred me to get into the development business.”
Bradshaw can run off a laundry list of reasons why Cornerstone is one of the fastestgrowing developers in the Metroplex. But the biggest, and the one he’s most proud of, is a respect for the end product. Bradshaw freely admits Cornerstone isn’t the cheapest option, but the quality it delivers is above and beyond the norm, he says. For instance, Cornerstone has certain requirements in working with new homebuilders: Homes must be closer to the street and mostly outfitted with large front porches.
- NOLAN BRADSHAW
Cornerstone cares about the community, always one of Bradshaw’s visions even in the incubatory stages. Now that he’s run toward the roar, the sky is the limit for Cornerstone’s future growth.
“There is no degree in development,” Bradshaw says. “I think the ones who are creative and the ones that care about the communities they build in are the ones who do well and create more lasting change.”
Bradshaw’s Cornerstone is currently on a fast-growth path. But it wouldn’t have gotten off the ground had he not taken that initial leap of faith toward the roar of entrepreneurship.
“I remember looking around the office when I was working in Dallas at some of those firms, and I was just not overly inspired by where I was going to be in 10 years,” Bradshaw says. “I said, I really want to see what our clients are doing on the deal side, because I think that’s interesting
With more than a decade of coaching and speaking experience, Jason is an expert at creating high-performance cultures through corporate training programs. He writes this column for each issue of
Fort Worth Chamber launches stakeholder engagement and legislative lobbying efforts to address workforce, poverty, housing, public education and elevating the city’s global profile.
BY BRANDOM GENGELBACH
Executive Vice President of Economic Development
Advocacy has been a Fort Worth Chamber of Commerce cornerstone since 1882 when city leaders joined forces to attract railroads. Today, Advocacy is one of four pillars that’s driving our four-year strategic plan, Fortify, along new and innovative paths.
Advocacy, led by Senior Vice President Rebecca Montgomery, has a three-part set of initiatives: voter engagement, investor engagement, and preparations for the 86th Texas Legislature that convenes Jan. 8.
The spirit of Advocacy pervades all areas of Fortify as an engine of support for business and Fort Worth’s quality of life. Fortify advocates for a wide of range of initiatives – from attraction and development of talent to poverty reduction, affordable housing, skilled workforce, advances in public education, and elevating the city’s global profile.
These are urgent steps, particularly for small businesses, 80 percent of Chamber investors. Larger corporations have a bigger voice; they have people who are employed to engage elected officials. Smaller businesses also have been very vocal about how legislation and policy affect them.
As with most Texas counties, Tarrant is known for low voter turnout. Last May’s $399.5 million city bond election won 80 percent approval with turnout of only about 4 percent.
So here comes the Nov. 6 midterm election. Much is at stake, from congressional seats to JPS Health Network’s request for approval of bonds for critically needed expansion to the county health care system. Fortify’s Advocacy arm will respond with fresh voter registration and education efforts, especially among the thousands of residents moving here every month.
We now refer to all Chamber members as “investors” in Fort Worth’s future and believe the strongest Advocacy impact with the highest value will flow from increased investor involvement in close, relevant partnership with Chamber staff. Montgomery’s plan is to expand and diversify Chamber committees that address areas of transportation, government, environmental affairs, and health care. These efforts align with Fortify’s Advocacy goals: 1) developing and communicating annual public policy agendas; 2) increasing business sector diversity on Chamber advocacy committees; 3) legislative advocacy; 4) identifying problems and developing solutions; 5) promoting Fort Worth as a center for political issue discussions; and 6) being transparent on Chamber position statements.
The Chamber’s pro-business legislative agenda is shaped by member priorities, gathered in surveys, vetted through committees, and finally approved by our board. Results from a recent survey of business owners confirmed the business commu-
nity’s continued widespread concern about unfunded federal mandates, state sales tax burdens, pressures from traffic congestion, requirements related to employee health care plans, and more.
The Chamber’s Advocacy team will intensify response in getting investors before government leaders to discuss key issues and press for pro-business action.
Our Leaders in Government luncheon series will continue. Additionally, we soon will launch a series of Power Hours for business owners on governmental issues.
Here are a few examples of results from the Chamber’s Advocacy work:
Chamber collaborative efforts with Hillwood’s lead, the state, U.S. Department of Transportation and others helped design and fund the reconstruction of Interstate 35 West, also known as the North Tarrant Express project, from downtown to the Decatur cutoff at U.S. 81/287. The five-year project was completed in July.
Annexation legislation became a part of the Chamber’s agenda and passed in 2016 because of the potential impact of noncompatible growth around our Naval Air Station Fort Worth Joint Reserve Base. With 11,000-plus employees, the base is vital to Fort Worth.
The Chamber backs bond elections and for years has focused its resources to ensure victories, including last May’s passage of the city’s $399.5 million package and the 2017 $790 million FWISD bond package.
The Chamber’s Advocacy roots run deep in Fort Worth. We once worked to attract packing companies, the bomber plant and Texas Christian University. Now, we must address 21st-century challenges.
Brandom
Gengelbach, executive vice president of economic development
for the Fort Worth Chamber of Commerce, is a regular contributor to Fort Worth Inc.
At midyear, strong fundamentals continue to heat up the Class A office market in Fort Worth’s Central Business District and suburbs.
BY TODD BURNETTE Jones Lang LaSalle
Strong and consistent Class A office fundamentals continue to heat up the office market.
During the first half of 2018, both the suburbs and the CBD have been very active.
Downtown Fort Worth saw its first new high-rise office tower, Frost Tower, open since the Pier 1 Building was delivered in 2004. The property landed the accounting firm Whitley Penn, quickly bringing the building to over 70 percent leased. After the addition of Frost Tower, the inventory downtown reached 10.4 million square feet. The submarket now accounts for approximately 25 percent of the total office space and 33 percent of Class A space in all of Fort Worth.
Average asking rents across both Class A and Class B buildings have increased since last quarter, and the growth continues to be consistent since 2014. Class A space now averages $30.76 per square foot, which is on par with Class A space throughout the rest of the Dallas-Fort Worth market and Suburban Dallas, but higher than Suburban Fort Worth. However, net absorption was approximately the same across Downtown Fort Worth (76,842 square feet) as all of Suburban Fort Worth (86,825 square feet) for the second quarter.
Vacancy in the downtown market is up, but not because of sublease space. In fact, sublease space is down below its
10-year average and concentrated primarily in two buildings with 80 percent of available Class A sublet space in the Pier 1 Building.
A positive sign for the Fort Worth market is that investment interest in downtown has heated up over the past six months.
Recently, Sundance Square Management purchased the 93,800-square-foot Petroleum Building from XTO. Pier 1 Tower is under contract to an out-of-state investor and should close in late August. Burnett Plaza is another prominent CBD property currently listed for sale. This property has 1,024,627 square feet of Class A office space with an additional 1.46-acre development site adjacent to the property.
Two XTO properties, 714 Main and the W.T. Waggoner Building, should close in the fall. Tarrant County College also has put the May Owens Center complex, located at the south end of downtown by the Omni Hotel, on the market. Activity to convert the XTO and TCC properties to hotel and/or residential uses has been red hot.
Overall, the Downtown Fort Worth office market has remained stable over the last several quarters, and we continue to have positive absorption. Look for new construction announcements soon in the West/Southwest market as vacancy continues to drop. Although limited new construction is currently occurring, Fort Worth remains at the peak of the economic cycle with no expectation for a downturn in the near future.
Golf Cars and UTVs for the Ranch, Neighborhood or Worksite. QUALITY VEHICLES THAT GET THE JOB DONE!
Metro offers the best selection of off-road vehicles. Whether you have a job to do or just for fun, we have an unbeatable lineup of premium golf car and UTV brands - all backed by our award winning service department.
Come by and See Us
Employers help build vibrant, engaged Fort Worth through Blue Zones.
BY MATT DUFRENE
Zones Project, Fort Worth
Five years ago, Fort Worth set out on an ambitious quest: to turn Cowtown into a haven for healthy living. Since then, we’ve demonstrated that better well-being really is a product of our environment. By making healthy choices easier where people live, work and play, we’ve created a movement that is good for people and good for business.
Blue Zones Project, a communityled well-being improvement initiative, helped lead that charge. Since Mayor Betsy Price, Texas Health Resources, and the Fort Worth Chamber of Commerce invited Blue Zones Project to Fort Worth in 2013, we’ve seen amazing transformations in schools, restaurants, grocery stores, faith-based organizations, and work sites. The project has met and exceeded every goal for both individual and organizational engagement and worked with the city to accomplish significant policy changes that support healthy living. That includes an enhanced smoking ordinance and increased access to fresh fruits and vegetables.
By the end of 2018, Fort Worth is expected to become the nation’s largest certified Blue Zones Community, a title that recognizes cities for implementing principles that reflect the lifestyles of the
Since DFW Airport launched Blue Zones Project efforts, including establishment of walking routes and a healthy lunch-with-acoworker program, the airport's health care cost increase rate is 40 percent below U.S. trends.
world’s longest living people.
The business community played a central role in this effort. More than 120 Fort Worth employers joined the movement, positively affecting some 71,000 members of the local workforce. Businesses have hosted workshops to help employees identify their purpose, supported walking meetings, created areas for employees to downshift, transformed on-site dining options to showcase healthy options, and implemented other initiatives that inspire and promote well-being.
Consider Dallas-Fort Worth International Airport. Since launching Blue Zones Project efforts (including the establishment of walking routes through the airport and a healthy lunch with a coworker program), the airport’s health care cost increase rate is running 40 percent below the national trend.
At Mother Parker’s Tea & Coffee, a leading North American coffee roaster with offices in Fort Worth, medical claim payments dropped almost 15 percent in a year, while pharmacy claim payments are down more than 26 percent. The City of Fort Worth has seen a considerable drop in the number of employees in the high and moderate health-risk categories, while the number of low-risk employees has increased.
According to a 2012 Gallup State of the American Workplace study, employees with high overall well-being have 41 percent lower health-related costs compared with employees who are “struggling” and 62 percent lower costs compared with employees who are “suffering.”
But reduced health care costs represent just one benefit. Implementing Blue Zones principles also is associated with increased employee productivity, reduction in absenteeism, reduction in employee turnover, increased ability to attract candidates, and increased employee morale.
When you improve the well-being of the community, both employers and employees realize savings — and Fort Worth is on the leading edge when it comes to creating a healthy workforce that will continue to attract companies to the area. Blue Zones Project is proud to work alongside other community partners to prioritize well-being and create real, sustainable change.
If
your business plan doesn't show you can grow your company financially, now might not be the time to start an enterprise or expand one.
BY NORM ROBBINS Partner Mark M. Jones & Associates
The economy’s great! Is this the time to start a business? Find the answer with the power of a business plan built around solid financial analysis.
We’re all familiar with the basic components of a business plan: mission statement; description of product or service; market analysis; form of business entity and management structure; production or service distribution plan; analysis of opportunities, weaknesses and risks; and financial analysis, including projected breakeven.
In my view, financial analysis is the last piece that holds the key to a successful plan. If your plan doesn’t show you can deliver the financial results for growth, now might not be the right time to start.
There are online templates for forward analysis. Most suggest sales forecast; expense budget; cash flow statement; income projections; projected balance sheet; and break-even analysis. Your choice could include display and analysis tools. Software such
as Microsoft’s Power BI can generate reports from multiple sources that can be shared with others instantly.
It’s typical to develop the financial components of your plan simultaneously, rather than sequentially. As you document assumptions and see results in one component, you may want to change assumptions in another.
Most models start with a sales forecast, invariably set up as a spreadsheet. A three-year, forward-looking model is typical. Include factors that reflect all elements of the sales equation, including costs, pricing, and number of units sold across time.
One caution: In this era of rapid technological change, three years can be a long horizon. It’s important to remain aware of possible significant shifts in the impact of technology, regulation, and financial environment.
An expense budget will reflect the costs to make your product or service. It’s important to consider variable and fixed costs. Fixed include rent, insurance, and salaries and are often associated with risk because they can’t be modified to cope with variations in demand. Variable costs change based on the number
of products you produce or services you provide, which include raw materials, and packaging. Include costs associated with debt and taxes.
Cash-flow statements are the underappreciated elements of financial reporting, but they are essential, and bankers love cash flow statements if you are trying to obtain a loan. You can’t operate a business effectively without understanding your cash position. You’ll need to make assumptions about rapidity of payment from customers and other timing issues.
We call an income projection a pro forma, meaning a standard approach. Your pro forma will use numbers from the other components: sales forecast, expense budget and cash flow statement. Some would say your income projection is the most telling of your plan’s components because it will show net income. The formula used in a pro forma is generally sales, less cost of sales, equals gross margin. Gross margin less operating expenses, interest and taxes is net income.
A projected balance sheet and breakeven analysis complete the set of financial components of your plan. Although the cost of borrowing at present is relatively low, it’s essential to incorporate repayment of principal into your forward calculations. Your break-even analysis shows you when your enterprise will begin to yield overall financial growth. Often, the go/no-go decision depends on attracting investors, and they’ll be interested in the profitability horizon.
Norm Robbins, CPA, is president-elect of the Fort Worth Chapter TSCPA, the association for Fort Worth area accounting professionals. The Fort Worth CPAs are regular contributors to Fort Worth Inc.
Is your company a rising star in Greater Tarrant County?
How the program works:
• The company generated revenue by March 31, 2014
• The company generated at least $50,000 in revenue for 2014
• The company generated at least $1,500,000 in revenue for 2017
• The company is a privately held, for-profit organization located in Greater Fort Worth
Go to fwtx.com/fwinc/fastest-growing-companies and provide general company and revenue information.
Application deadline is Saturday, Sept. 15
Applicants will be notified if they made the list by late Sept. The list will be published in the January/February 2019 issue of Fort Worth Inc.
For questions, please contact Natasha Freimark at nfreimark@fwtexas.com.
No matter how frivolous a claim or how much you believe a jury can’t take it seriously, no trial lawyer can guarantee a successful result in court, and mediation remains a viable alternative.
BY RANDY HALL Chairman, Litigation Section Decker Jones, PC
Costs of litigating, like everything else, continue to rise.
Attorney fees can approach upwards of $700 per hour depending on the complexity of the case. Even if the case is taken on a contingent fee, associated litigation costs have also skyrocketed and are usually the responsibility of the litigant. Depending on the complexity of the litigation, expert witness and court fees are formidable, and the value of your time away from your business can also prove costly. This is why the vast majority of lawsuits filed are ultimately settled, mostly by mediation.
So, you and your business partners truly believe there is absolutely no merit to that big lawsuit that has been languishing in civil court for months. But you have just totaled what you’ve already spent on legal fees, and it appalls you.
You’re dealing with motion after motion. When does it come to a halt? And, how did you get in this position?
As a practicing trial lawyer for over 40 years in Tarrant County, I have learned the immense value of mediation as a preliminary resolution tool in every type of claim or litigation. If you or your company has received some form of notification of a claim or has been served with a petition and citation, or you plan to sue, you should begin as early as possible in your planning to consider the efficient
and timely use of mediation as part of your strategy.
All cases have two sides, presenting different perspectives, emotional responses, sense of purpose and principles. Therefore, every lawsuit, or potential legal action, has the risk of failure. Experienced trial lawyers will likely advise their clients that dispute resolution, including mediation, should be employed as early in the process as possible.
While there are various forms of dispute resolution, I have found mediation to be the most effective, because the parties and their attorneys meet and are guided through their negotiations by a professional trained in dispute resolution. If the case is already in litigation, odds are the trial court will order the parties to mediate before the case is tried.
Your objective should be to conclude the litigation at the lowest possible cost in the most efficient manner. Mediation serves both purposes. By engaging in mediation early in litigation, parties can avoid the expensive and time-consuming process of pre-trial preparation and trial. With the help of an experienced and seasoned mediator, the parties can negotiate an equitable value for the case and avoid a potential adverse jury verdict. I have taken over 200 jury verdicts in my career, and no trial lawyer can guarantee a favorable result at the courthouse.
You’re a pro; you evaluate costs and risk as you make business decisions every day. It only makes sense to do the same with any claim or lawsuit. Mediation is a valuable evaluation tool and a potentially economic and efficient resolution to any dispute, no matter how frivolous it appears and how much you believe that no one could ever take the allegations seriously.
Fort Worth foundation launches series of workshops for startups. One of the next up: How to create a social media paid ad campaign.
FORT WORTH INC. STAFF
Startup entrepreneurs in Fort Worth have a new resource: the Accelerate DFW Foundation (the rebranded BAC Education Foundation) is launching a Startup Bootcamp Workshop Series. The foundation was formed in 1999 to create, guide and implement programs and services that impact economic growth in Fort Worth.
The next workshop with open registration is “How to Create a Killer Social Media Paid Ad Campaign,” 11 a.m.–2 p.m., Sept. 20, at the WeWork coworking space, 5049 Edwards Ranch Road in Fort Worth’s Clearfork. To register, visit acceleratedfw.org.
Kenn Scott and David Valentine
of Rethink Creative will be the guest presenters. “You'll leave with an immediately actionable paid advertising plan for Facebook, Instagram, and other social media channels, plus the skills to continue leveraging your outreach into powerful marketing stream,” Accelerate DFW says.
The three-hour workshops engage entrepreneurs in hands-on exercises that provide participants with actionable plans that can be immediately implemented at their respective ventures. Topics for workshop series are chosen based on demand from area entrepreneurs and include marketing, sales, finance, human resources, pitching, and supply chain management. Workshop facilitators are experts in their field who reside in DFW or come from further afield.
The foundation says it’s working on creating a series of two workshops per month, on average. Based at the Fort Startup building at 600 E. Rosedale St. in Fort Worth, the foundation works with facilitators throughout North Texas. Upcoming workshops will include ones on arts entrepreneurship, Trello for Entrepreneurs, and invoice fraud.
Information: Marco Johnson, director of programming, Accelerate DFW, marco. johnson@accelerateDFW.org.
Accelerate DFW is launching an inaugural fundraising gala featuring John Paul DeJoria, the billionaire co-founder of the Paul Mitchell hair care products line and Patron Spirits. DeJoria is also an investor in the Fort Worth-based Ride TV Network.
Tickets to the gala, 5:30–9 p.m., Oct. 3, at the Fort Worth Club, are $250. Tables and sponsorships are available. For pricing, visit acceleratedfw.org.
The BAC Foundation rebranded itself earlier this year, partly to clarify the organization’s independence from the city, but it also gives the group a chance to expand its program offerings and scope.
The foundation’s IDEA Works incubator stays put and keeps its name, but it also promises an improved set of programming.
IDEA Works becomes one of three verticals that fall under the Accelerate DFW umbrella. The other two — a product-focused program called Trax & Stax and the Startup Bootcamp Workshop series of hands-on educational opportunities for entrepreneurs.
Trax & Stax is a new program in development that focuses on a more specific part of the business — the product. This three-month-long curriculum will center solely on developing business ideas and testing their viability. At press time, the program was undergoing beta testing. It’s expected to launch this fall.
CEO on KERA invites you to the table as renowned journalist Lee Cullum interviews prominent chief executives from North Texas and beyond. Go to explore leadership styles and ethics. Go for insight into what makes companies successful. Go for the engaging conversation. Go Public.
HOSTED BY LEE
CULLUM
FULL SCHEDULE AT KERA.ORG/CEO
BY
Whether you’re a rookie or veteran when it comes to giving media interviews, it never hurts to go over some best practices. It’s important to understand why a reporter is interested in talking with you, as pitching a story may have a different tone or feel than when a reporter reaches out to you about a specific topic.
Here are six tips for giving an interview that positions you and your company in a favorable light and helps you make the most of your opportunity to get your name out there.
Research the reporter: While reading their past articles, look for common themes, such as the abundant use of numbers or anecdotes. Analyze the tone and type of stories they typically cover.
All of this will unlock clues about what type of interview you can expect, allowing you to prepare accordingly. When you talk with the reporter, get to know him or her before you begin the formal Q&A. And be friendly, even if the line of questioning is not.
Rehearse talking points: Under the right circumstances, a news story can function as a third-party endorsement. This begs the question: If you were paying for an ad, what are the one or two things you’d want readers or viewers to know about your business? Identify these talking points and then rehearse natural ways to weave them into conversation.
Get to the point: Reporters have to compress your entire interview into a narrow column in a newspaper, a short blog
post that people will actually read, or a fast-paced time slot on the news. This isn’t easy. So, while you should answer questions thoroughly, don’t needlessly drag on because the more notes the reporter needs to transcribe, the more difficult it will be to cull your most crucial talking points.
Steer the conversation: If you want the interview to go in a certain direction, guide it there. Otherwise, the conversation will go where the reporter’s curiosity takes it. When in doubt, stick with your talking points. Reporters feed on inconsistency, so be sure to remember your previous statements and be ready to explain discrepancies in understandable terms. Use the bridging techniques you’ve learned to steer the conversation back on course if you start to go on a tangent.
Wrap it up: “Is there anything else you’d like to add?” Disguised as a formality at the end of an interview, this question is arguably the most important you’ll be asked, as it offers an opportunity to reinforce key talking points and convince the reporter about what’s really worth sharing.
Get after it: After the interview, send the reporter a friendly email thanking him or her for the time and offering to provide additional quotes, photos, charts, sources or other information. Reporters appreciate the courtesy, even if they already have everything they need, which will help with relationship-building.
If you don’t have an in-house public relations team, take the time to find a consultant who can train you on certain skills, such as responding to hostile questions, developing talking points, bridging topics and ultimately getting your story out. The more prepared you are for your interview, the greater the likelihood it will be successful.
Close your next deal at one of these business-friendly bistros.
The Shops at Clearfork, 5212 Marathon Ave., 817.737.5212
Butcher Shop: 817.731.5360, bbbutchers.com/fortworth
B&B is Fort Worth’s only upscale steakhouse and traditional butcher shop specializing in high-quality meats and elevated customer service. Our menu includes 100 percent authentic, A5 certified Kobe beef, the finest Texas and Japanese Wagyu beef, as well as in-house 28-day and 55-day dry-aged USDA Prime beef – all hand cut in the Butcher Shop.
An exclusive, 12-course meat tasting and wine pairing in the Butcher Shop, guests have the rare opportunity to taste and compare the flavor components of our exclusive cellar cuts while learning about the meat and the dry-aging process. Plus, wine enthusiasts will enjoy a handpicked variety masterfully paired with each cut by the sommelier.
The lunch menu, which is a delightful recess from the dinner menu, includes hamburgers, meat-driven pastas, pizzas, salads and sandwiches, along with noteworthy dishes like a Bone-In Chopped Steak and Wagyu Skirt Steak Frites. Not in the mood for meat? Our lunch and dinner menus offer fresh and noteworthy seafood dishes along with vegetarian options.
We have five unique and premier private dining spaces that are ideal for your next celebration or office gathering. Our private events coordinator will take personal care of your custom-printed menus, specially tailored wine pairings, floral decoration, musical entertainment and more.
BY TONY FORD CEO Success Fort Worth
The title of this article is not meant to be funny. It’s meant to be a heartfelt reminder to leaders who take their responsibilities seriously.
After three decades of being called in to turn companies around, I have been witness to what owners and executives do to destroy what they built. While health issues, accidents or market downturns sometimes cause the dramatic decline, these are not the situations I’m talking about.
I have observed destructive behaviors motivated by a variety of faulty beliefs and bad habits. All share a common source: serious lack of self-awareness.
Self-awareness for a leader is critical because it informs his or her decisions. When we fail to factor in the effect we have on the people around us, we forfeit the benefits of the influence we could have had.
Below are seven leadership attitudes and behaviors that can lead to a downward spiral in any organization – and how to prevent them:
1. Taking People for Granted: Over time, many leaders forget who helped them reach success. These employees, vendors, customers and community partners supported their ideas in the early days, contributed to the company’s growth, and filled in a gap for the leader. Sure, they were paid and rewarded for their contributions, but now that success has come, leaders often fail to engage them.
2. Modeling Bad Manners: Some owner/leaders believe success, education, wealth or intelligence give them license to model bad manners. Showing up late for meetings, failing to meet commitments, and using language meant to embarrass or intimidate are a few manifestations. If you have behaved this way, stop now and mend fences with the people you’ve offended. Company leadership has a responsibility to model wholesome, respectful behavior.
3. Becoming Unteachable: Leaders who convince themselves they are the source of all wisdom in their companies create an artificial ceiling for growth. Leaders who recognize their strengths and limits bring in outside talent and ideas to fuel growth. If your ego gets in the way of your judgment, find a mentor or hire a coach who will help you develop an awareness of what's missing from your growth and development plans.
4. Becoming Complacent: Many company owners begin their enterprise with a growth mindset, but over time (and with financial security), it becomes a lifestyle mindset. When this happens, the owner and company leaders who have gained financial freedom from the business’s growth stop making growthoriented decisions. Instead, they make choices that give them the most comfortable lifestyle, at the expense of growth. This creates a “two-tier system” in the company. The bottom tier quickly understands that no matter how hard they work or contribute, they will never make it to the top. Competitors look
for established companies like this to dominate. If your company has fallen into this trap, move quickly to replace leaders with ones who are hungry for growth and are innovators.
5. Becoming Fearful: As an executive coach, I find leaders’ fear and anxiety are top issues I coach around. Because so much of what a leader deals with is outside of his or her control, anxiety is natural. But in my experience, leaders often choose anxiety over action. It’s important to remember it gives others courage and inspiration when they see the boss lean into tough calls.
6. Falling Behind in Technology: These days, there is no excuse for a leader to fall behind. Fort Worth is blessed to have terrific technology vendors and solution-oriented professionals. As leaders, we should become experts on the technical abilities our people and systems have and reach out to service providers to keep us competitive.
7. Forgetting Your Faith: If you are a person of faith, you believe God has a purpose for you and your business. You understand there is a “higher stewardship” that reflects your faith and beliefs to the world. If you have left God out of your leadership plans and practices, I encourage you to reconsider. The same God that made you unique and uniquely qualified to lead your people will inspire you in every area to do a good job.
Fort Worth Inc.
Close your next deal at one of these business-friendly bistros.
1509 S. University Drive, 817.336.0311 olsouthpancakehouse.com
Ol’ South Pancake House is where the entire family can enjoy Southern homestyle cooking at any time of the day or night. Signature dishes have kept our guests coming back for more, with our most popular World Famous German Pancakes being served over 40,000 times each year to our loyal customers.
829 Lamar Blvd. East, Arlington, 817.265.9174 piccolomondo.com
Piccolo Mondo Italian Restaurant was established over 34 years ago and is known as one of the most popular and famous Italian restaurants in the metroplex. Appealing and satisfying Italian continental fare features shellfish, salmon, veal, gnocchi & pasta. The restaurant also has a piano bar and a banquet room.
704 W Magnolia Ave., 817.335.2041, pariscoffeeshop.net
Welcome to the Famous Paris Coffee Shop, “Historic Fort Worth Watering Hole,” serving customers since 1926. Paris Coffee Shop is historic and caters to the common Texas folk and tourists who are looking for a good hometown meal and atmosphere. Our menu offers breakfast, lunch and fabulous desserts including fruit and deee-li-cious meringue pies.
We are “people people.” We love food, games, events and getting people together. We provide unique entertainment in sophisticated, comfortable spaces to gather — served by our seasonal scratch kitchen. We then host tailored combinations of dining, bowling, bocce, events and catering. Enjoy a genuine moment connecting with the people you care about at Pinstripes.
From personal prayer time to meeting with clients and serving on nonprofit boards, Martin Noto, Fort Worth region CEO of First Financial Bank, stays on the run during his typical day.
5 a.m. Alarm rings. I get up and spend the first part of the morning reading the Fort Worth StarTelegram, AP news feed and the Bible. Also, this is my personal prayer time.
5:45 a.m. Take a 30-minute ride on my exercise bike. (Although I need to be more consistent in my routine.)
6:15 a.m. Spend time talking with my
wife, Donna, about her upcoming day. Discuss our calendars. She is a real estate agent, so we like to connect in the morning and evening at dinner, because we rarely get a chance to talk during the daytime. We have been married for 33 years, and staying connected is important to us.
7:15 a.m. Leave home for the office or attend an outside meeting, depending on
the day. Once at the office, I quickly outline the top priorities of the day. On days when we have a loan committee meeting, I spend an hour reviewing any loans or items for discussion that I did not get a chance to review the night before.
9 a.m. On Mondays, we have our weekly marketing meeting where we discuss upcoming calls, opportunities in our pipeline and our
“Topic of the Week.”
The “Topic” segment allows us to keep our staff up to date on products, services, technology and changes in banking regulations.
10 a.m. – noon On Monday, Wednesday and Friday, I attend our senior loan committee meeting. On Tuesday and Thursday, I am calling on customers or prospects during this time.
noon – 1:30 p.m.
Most days, I am having a lunch meeting with customers or prospective customers. However, some days I am attending civic board meetings. I serve on several local boards because giving back to our community is very important to me and First Financial Bank.
1:30 – 3 p.m.
I spend this time reviewing weekly reports, returning phone calls and planning calls for the upcoming week. It is important for us to constantly stay in touch with our existing customer base as well as meet prospective customers. On Tuesday and Thursday, I attend our Fort Worth Region Loan Committee which meets during this time.
3 – 5 p.m. Several days a week, I am reviewing loan packages for one of our loan committee meetings during this time. In addition, I will meet with individual loan officers to discuss their prospective transactions or opportunities so I can provide any assistance they may need. Plan for the upcoming marketing meeting.
5 – 5:30 p.m.
Catch up on email and respond to outstanding requests by email. I generally like to respond to emails and return phone calls the same day. I also spend this time reviewing the top priorities completed that day.
5:30 – 5:45 p.m.
Head home for the day. My wife and I typically eat dinner early and spend that time catching up for the day. Several times a month, I have evening events to attend and will get home much later.
7 p.m. After dinner, I spent some time reading and responding to email that I missed earlier or that was sent to me after I left the office.
9 p.m. Lights out.
