Role: Co-managing partner, redevelopment
Size: Approx. 10,000 square feet existing buildings, 1.1 acres site
Use: Restaurant, Office, Creative Office
Magnolia May is a partnership between principals of Presidio Interests and Hatfield Properties to redevelop the existing 10,000 SF of early 20th Century commercial buildings for restaurant, and office uses. The redevelopment included restoration of the charming older buildings and repositioning the building that lacks historically significant design.
Presidio’s Andrew Blake and Hatfield Properties’ Dak Hatfield co-manage the project including acquisition, finance, design, construction oversight, tenant improvements and project leasing.
The buildings provide attractive lease spaces that work very well for restaurants seeking character-rich historic spaces (with abundant patio space in the rear) or modern office/medical office tenants seeking proximity to Fort Worth’s cluster of medical institutions. Blake and Hatfield partnered with a local residential developer to develop the project's residential component: a row of townhouse-style condominiums along May Street. The commercial building tenants, upon lease-up, included two restaurants and a small bar, a salon and an architecture/planning firm.
Magnolia May has become an important and energetic part of the vibrant, pedestrian-friendly Magnolia Avenue urban village. The district is alive during the day and night. At night, Magnolia bustles with patrons visiting the street’s renowned independent restaurants, lounges, live music venues, and regular outdoor music events and street festivals. By day, over 30,000 people work in the immediate district, primarily in medical fields and secondarily, in marketing/design professions. Magnolia May is immediately across the street from the new University of Texas Southwestern Moncrief Cancer Institute and less than one mile from the four other major medical institutions (Cook Children’s, Harris Methodist, Baylor All Saints, JPS Health).
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