Vandergriff Town Center was seen as vital to the redevelopment of downtown Arlington.
In 2006, developers borrowed $3.9 million and built a two-story, 30,000-square-foot brick office building with a 70-foot clock tower just east of the historic Vandergriff Chevrolet dealership building on Division Street. The ground floor offered space for shops and restaurants as the city worked to draw commerce to the fledgling business district, not far from the gleaming Cowboys Stadium.
But now the property has been posted for foreclosure, yet another victim of the sagging economy. Its major tenant downsized and moved out, and it's been difficult to find another, the developer said.
Read more...DFW commercial real estate developers adjusting to new market via Star-Telegram.com
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