Case Studies
Brokerage
–We represent businesses and investors in locating a new property or space that suits their unique requirements. We can provide a "Lease versus Own Analysis" to determine an understanding of when it makes sense to lease versus own. Through experience, we provide insight on the benefits and pitfalls of each site or systems within the building. We have a firm grasp of understanding the velocity and type of growth within a market and how it may impact a desired property.
906 W Cannon
–Hatfield Properties was hired as a Landlord/Seller
Mesch
–Hatfield Properties was hired as a Buyer's representative to find a new location for an accounting firm. After understanding the programming requirements and determining the area boundaries, a list of opportunities - both on and off-market- was identified for Mesch McBride. Initially the company expected to sign a long-term downtown lease until an opportunity for ownership was discovered. Hatfield Properties reviewed and provided insight relating to the location, parking, existing leases, environmental, contracts, suggested engineers and analyzed the income of the 12,000+ square foot building. The firm purchased the 600 Texas Street building and is excited about renovating the building and calling it their new home.
TMI
–Hatfield Properties was hired as a Tenant representative to find a new location for a marketing firm. HP and the client discussed the requirements of a new space and a list of opportunities - both on and off-market was identified. It was important for the client to stay within a certain geographic boundary and the square footage and parking necessity proved to be a challenge. Understanding the clients desires, HP negotiated a 5,000+ square foot lease for the client in a building that had previously not been available. This brokerage assignment showed the dedication of HP to its client by pursuing the best available option for the client- not the easiest option. TMI is now enjoying its new headquarters.
Tax Credits
–We assist businesses and investors with Historic and New Market Tax Credits. Property owners lean on us to determine the viability of using tax credits for their project or building. Our expertise includes knowledge of complex structures and processes. We have built a network of contacts within the tax credit field that ensure the process is as smooth as possible.
201 S. Calhoun
–Hatfield Properties was hired as a consultant to provide investment, lending, tax increment financing and historic tax credit structuring for a building built in 1913. The 56,000 square foot building is located just south of downtown Fort Worth in the Near Southside. Originally used for storage and deliveries, the building has been transformed into apartment lofts, creative commercial space and an event center. The use of federal historic tax credits allowed investors to receive a large percentage of their initial investment at stabilization. State historic tax credits are now available for projects similar to this. The building is currently 100% occupied and current commercial tenants include Shipping and Receiving Bar and Patio, architects, website designers, a public relations firm, luthier, sound studio, and developers.
Carnegie
–Hatfield Properties was hired as a consultant to provide strategic planning, investment, new market, tax increment financing and historic tax credit structuring for a building built in the early 1950's. It is located in downtown Oklahoma City in the heart of the Central Business District. The 62,000 square foot building was originally built as the public library as has been renovated to accommodate residential lofts, parking and commercial space. The complex ownership structure required concise coordination of all financing and investing entities including Community Development Entities to ensure the project's success. The building is currently 100% occupied and commercial tenants include the University of Central Oklahoma, Udander - an upscale spa and salon, Nourished, a vegan restaurant, and an art gallery.
Investment
–We provide our clients with investment analysis that allows businesses or investors to determine the financial viability of a project. Deliverables include estimated project cash flows, returns on equity, and financial investment modeling including internal rates of return calculations. Through experience and many local banking relationships, we assist the client with determining ownership options, and obtaining the best project financing and equity positions for each situation.
Carlton
–Hatfield Properties located and formed an ownership entity to purchase and renovate a multi-family community containing 108 units in Fort Worth. The 110,500 rentable square foot property was being mismanaged and had a significant amount of deferred maintenance. HP assembled a strategic plan to infuse capital into the property and increase the property's value through changing management, creating two new community courtyards, increasing HVAC efficiencies, upgrading the two boiler systems, painting, fence repairs, unit upgrades, common area concrete and steel upgrades, window and roof upgrades. After the changes were completed, the property became stabilized with a higher quality tenant, higher rental revenue, and a higher market value. The property was sold at the end of 2014 resulting in a return to investors that exceeded the initial projects.
2140 S. Main
–Hatfield Properties purchased two manufacturing facilities totaling ~43,000 square feet with another company in Fort Worth. The 3-acre property was not being properly maintained and required a significant investment. Improvements included renovations to the site, roof, painting, and building masonry. After improvements were completed, the properties achieved a higher market valuation and was sold. The return to investors was well over initial projections.
1021 Washington
–Hatfield Properties located and formed an ownership entity with another company to purchase a 2-story medical office building in the medical district of Fort Worth. The 13,000 square foot building had been neglected however the property was on a very visible corner. The repair and upgrading plan is underway and improvements completed to date include new concrete drive and striping, exterior painting, new fencing, new gutters and downspouts, electrical and irrigation upgrades as well as new landscaping. The property is currently for lease or sale at $2,150,000.
Development
–We provide our clients with initial pre-development feasibility as well as development and project management services. We serve as representatives for the client so that they can focus on what they do best. The value of hiring us comes in the form of both cost and time savings to the client. Our responsibilities include project scheduling, overseeing preliminary and final building design, overseeing construction and engineering, governmental coordination, and providing leasing services.
916 Bryan
–Hatfield Properties and Presidio Interests have teamed up again to bring the Near Southside a new creative office environment. Hatfield Properties located the dilapidated building and saw the vision of creating offices out of an existing warehouse. The redevelopment is aimed at small creative businesses looking for a modern industrial atmosphere to call home. Improvements include a new roof, cutting in new windows and doors, creating a new staircase, masonry, carpentry, new steel columns, sitework, new parking lot, new fence and gate, new sidewalks, as well as new irrigation and landscaping. The building is just under 9,000 square feet.
Magnolia May
–Hatfield Properties formed a joint venture with Presidio Interests to redevelop an antiquated group of buildings and expand the area energy east on Magnolia Avenue in the Near Southside of Fort Worth. The buildings began with a flower shop built in 1925 and subsequent buildings were erected adjacent to the historic building totaling 9,600 square feet. The entire site was over an acre and the re-development plan included rehabilitating all buildings, demolition of two houses, new roofs, facades, windows and doors, new plumbing and electrical, sitework, new parking lot, new landscaping, and responsibility of creating an adjacent new residential community. Hatfield Properties worked closely with Fort Worth South, Inc. to insure the feel of the redevelopment was meeting the goals of the neighborhood. Historic Fort Worth distinguished the property as a Preservation Award Winner. The property is currently 100% leased and is an asset in the Hatfield Properties portfolio.
1001/1007 S Main St.
–Coming Soon
1455 Magnolia Ave.
–Coming Soon
Strategy
–We guide our clients through the entire process by developing a strategy for their business relocation or investment including purchasing land, ground-up development, and adaptive re-use of existing buildings. The process includes identifying the needs of our client/tenant, site selection, site investigation, determining governmental requirements, and entitlement of the property.
Karlee
–Karlee is a contract manufacturer of precision sheet metal and machined components for the communications, defense, aerospace, commercial goods and medical equipment industries. Hatfield Properties was hired to consult and strategize regarding the expansion of their facility. The opportunity to expand into a lower income area and the creation of many new jobs within that area allowed for qualification of New Market Tax Credits. The New Market Tax Credit Program rewards businesses like Karlee for investing in a blighted community by issuing tax credits thus allowing for further job creation.
126 S. Main
–Hatfield Properties understands the direction of real estate growth. In this case, an opportunity arose to purchase a building in a transitional area. The area is less than a mile from Sundance Square, I-30, I-35, and all major hospitals. Working with two other businesses, the property was thoroughly assessed and ultimately acquired prior to nearby new development. Such developments include a new hospital, multifamily community and reconstruction of South Main's streetscape. Adaptive re-use upgrades and area development has created a significant value increase for the ownership. Current tenants include Gill Reprographics, Bermex, and Pyxis Investment Group.