FORT WORTH, Texas — This story was originally published by our content partners at the Dallas Business Journal. You can read the original version here.
The Walsh development in far west Fort Worth is seeing another major development: a new corporate headquarters.
Worthington Bank announced Sept. 5 plans to build an eight-story tower and HQ at the corner of I-30 and Walsh Ranch Parkway, part of the 7,500-acre master-planned development known as Walsh.
The 96,000-square-foot office building will cost an estimated $55 million, Worthington Bank CEO Greg Morse said. He said Walsh has been on his mind for several years and that he saw it as a good opportunity, closing on the land in March. It'll take about three years to build the tower, he said.
He was interested in the area because he saw it as having "basically no commercial development between Fort Worth and Aledo, there's no office space," he said. "There's a ton of people that live in Aledo and Weatherford and work in downtown Fort Worth. And I thought, well, that'd be a great place to take advantage of that."
The news comes on the heels of the University of Texas at Arlington's plans to build a 51-acre campus called UTA West in Walsh. Morse sees the new campus as a benefit, as it could eventually host up to 12,000 students when fully built out.
"The addition of Worthington Bank Tower and our partnership to bring Worthington into the development will unlock more opportunities for those in the area, complement existing commercial activity and provide long-term benefits to the entire region,” Ryan Dickerson, CEO of the Walsh Companies, said in a statement.
The bank will take two floors in the new tower, meaning there will be space leftover for other businesses. Morse said there's already been a lot of interest: a law firm wants two floors, a restaurant wants the top floor and several title companies indicated they want space. No leases have been signed, but he said there are letters of intent. Holt Lunsford Commercial's Vic Meyer and Jake Neal are heading the leasing efforts.
"Parker County’s history is deeply tied to the westward expansion of the U.S. through Texas and beyond," Meyer said. "Now, through the visionary efforts of Worthington Bank, Parker County is receiving its first high-rise office building and with it, a new era of upward expansion. We are grateful and honored for the opportunity to work with Worthington Bank on this iconic project and we look forward to contributing to the positive impact that this project and the Walsh development will have on the people and businesses in the region."
If all goes well, Morse said the bank could build another eight-story tower on the southern end of the property and put a parking garage in between the structures.
Worthington Bank has two locations in Fort Worth, one in Colleyville, one in Denton and another in Arlington. Its current headquarters is in downtown Fort Worth at 500 Main St., across from Sundance Square. Morse said he plans to keep a presence in downtown. The bank employs 70 people.
Walsh already has some development, including a 40,000-square-foot Cook Children's location and apartments. According to a brochure by LanCarte Commercial, 1,000 acres of Walsh will be dedicated to mixed-use development along I-20 and I-30. A total of 2,800 acres will be dedicated to industrial and corporate campus development south of I-20.
