LanCarte Commercial
Two properties on University Drive sold last month, LanCarte Commercial said.
The properties at 116 and 211 University Dr. were formerly Audi dealerships.
Terms of the deal were not disclosed.
The Dallas Business Journal reported that Gilchrist Automotive Group bought the property at 116 University Dr.
"This area in 10 years won’t look the same,” said Sarah LanCarte, who along with Jenny Carlstrom brokered the sale. “The amount of development planned for this area is exciting and with the LanCarte office nearby, we will have a front row seat.”
The property at 116 is catty-corner to the $850 million mixed-use development under construction at the former site of the Fort Worth school district’s former central administration building. The Fort Worth City Council cleared the way for the development by giving its blessing on a zoning change for 11.45 acres of the 35-acre project at University Drive and White Settlement Road.
Dallas-based developer Larkspur Capital is overseeing the construction of storefronts and apartments there. Fort Worth-based investment firm Keystone Group, owned by Robert Bass, is also involved in the project.
Group 1 Automotive moved its Audi dealership into a new 53,000-square foot complex at Interstate 20 and U.S. 377 near Benbrook.