January 11, 2008

WEITZMAN TO LEASE THE PRESIDIO, A MAJOR MIXED-USE 
PROJECT IN FORT WORTH

FORT WORTH—The Weitzman Group has been named retail leasing agent for Teh Presidio, a major mixed-use project set to break ground on its first phase this year. The Presidio is located at the northwest quadrant of I-35W and North Tarrant Parkway in the booming North Fort Worth market.

Brian Glaser, president of the D/FW Commercial Retail Division of The Weitzman Group, and Marc Marrocco, associate, are responsible for leasing.

LNR Property Corporation’s Commercial Property Group, the company’s real estate development and investment division, recently acquired phase two of The Presidio, marking the company’s second land acquisition of The Presidio over an eight-week period. 

Phase two will consist of 135 acres of retail, office and other commercial space. LNR Property Corporation acquired phase one in November 2007, marking one of the area’s largest land acquisitions. The total mixed-use development area will comprise more than 300 acres.

The project will feature more than 1 million square feet of retail, restaurants and shops; 1,300 apartment units and 750,000 square feet for hotel, fitness, Class “A” office and medical uses.  Construction on the site is scheduled to begin in January 2008.

The Presidio links the Interstate 35 West and U.S. Highway 287 trade corridors.  Its visibility is solidified by more than 10,000 lineal feet of highway frontage and easy access from major freeways, North Tarrant Parkway and Harmon Road.

“The Presidio’s location makes it an ideal mixed-use site,” said Ken Kristofek, senior vice president of LNR’s Southwest Region. “The acquisition of phase two allows LNR Property Corporation to continue adding new development and enhancing the north Fort Worth area.”

“The Weitzman Group has a thorough knowledge of the area and is well connected,” added Kristofek. “We are confident that The Weitzman Group will find the right tenants for this premiere development.”

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