Goldenrod Cos. to Break Ground on DFW Mixed-Use Project
This development brings Fort Worth's first spec office project in five years.
Goldenrod Cos. is prepared to break ground on The Van Zandt, a mixed-use development in Fort Worth. The development marks the city’s first speculative office project since 2017 and will include a roughly 99,400-square-foot Class AA office component along with 147 multifamily units and 11,600 square feet of retail space.
Goldenrod Cos. has chosen Stream Realty Partners to oversee leasing operations for the office section and Holland Basham is heading design of The Van Zandt.
The developer acquired the parcel at the northwest corner of Foch Street and West Seventh Street last March. With a zoning change approved last June and the site cleared by last December, Goldenrod Cos. is expected to break ground on The Van Zandt in the first quarter of the year. The project will take shape at 2816 W. Seventh St. and will encompass two buildings, a nine-story office tower and a 10-story multifamily component with the first four levels set aside as garage and retail space uniting the two.
Planned amenities include several indoor and outdoor meeting areas and lounges along with an outdoor deck outfitted with a fitness center and a swimming pool. The Van Zandt will be easily accessible, within 2 miles of Interstate 30 and with several public transit options within walking distance. Downtown Fort Worth is less than 2 miles away.
Fort Worth office market
Fort Worth continues to draw investors due to its pro-business community and expanding labor pool. Based on U.S. Census data, Fort Worth registered a 26 percent increase in population since 2010, becoming the 12th largest city nationwide.
According to Stream Realty Partners data, there is demand for high-quality office space in Fort Worth. In the third quarter of 2021, there was 1.7 million square feet of net absorption for Class A office space, while Class B space registered a negative 160,000 square feet. In September, Crescent Real Estate broke ground on Museum Place, another mixed-use project in the city. The $250 million development will encompass 168,000 square feet of Class A office space.
As of November 2021, there was nearly 153 million square feet of office space underway nationally, according to CommercialEdge data. The Metroplex registered more than 5 million of square feet of office under construction as of November, or 1.8 percent of total stock.