Cityview Lake Park, situated in the southwest submarket, is being developed on 21.5 acres by United Commercial Development. The acreage takes up the southwest corner of Interstate 20 and the proposed Southwest Freeway.
Drew Kiesling of Holliday, Fenoglio Fowler LP has arranged the financing. Kielsing, based in Dallas, has put together an 18-month, adjustable-rate package with First American Bank.
Meanwhile, Cityview is off and rolling. In late summer, Costco, a membership discount club, had opened its doors in the new development phase for the retail hotspot. Construction is under way for Joe's Crab Shack, the first tenant signed in the most recent development wave, while crews are prepping to break ground on a Fuddrucker's restaurant.
"The market demographics for the southwest portion of Fort Worth indicate Cityview Lake Park will be a strong performer for the foreseeable future," Kiesling says in a prepared statement. "This area has been booming for the past two years, and retail has been a very strong performer along the I-20 corridor.
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