Nebraska-Based Investor Has Just Become One of the Largest Property Owners of West Dallas

An article written in the Dallas News this week said “Goldenrod Companies, which was founded by former pro football star Zach Wiegert, was formed in Omaha in 2005 and has since acquired or developed more than $4.3 billion in properties in multiple U.S. markets.

Article by, Steve Brown, The Dallas Morning News

Goldenrod has just become one of the largest property owners in a redeveloping area of West Dallas. Goldenrod has purchased dozens of properties from the developers of the popular Trinity Groves complex”. Most of the nearly 90 properties in the deal are near Singleton Boulevard and include both buildings and vacant sites. More than 35 acres of real estate was included in the sale.

The land was part of an almost 60-acre property that was assembled starting in about 2005 by investors Stuart Fitts, Phil Romano and Larry “Butch” McGregor. Their West Dallas Investments built the popular Trinity Groves restaurant hub at the time the Margaret Hunt Hill Bridge was being constructed to provide a more direct connection to downtown.

Since then, West Dallas Investments has partnered in the development of hundreds of apartments in the neighborhood and has renovated existing buildings for new uses. Several large development sites have been zoned for new construction, including high-rise offices and hotels.

The sale is one of the largest such property transactions in years located so close to downtown.

Buyer Goldenrod Cos. was formed in Omaha in 2005 and has since acquired or developed more than $4.3 billion in properties in multiple U.S. markets. In North Texas, the company is the developer of the planned mixed-use Van Zandt project in Fort Worth’s cultural district. It also has acquired office buildings in Irving and North Dallas.

The company was founded by former pro football star Zach Wiegert, who played for the St. Louis Rams, Jacksonville Jaguars and Houston Texans from 1995 to 2006. Goldenrod officials did not respond to requests for details about the firm’s plans for the West Dallas properties. News of the sale is spreading in the neighborhood.

“I think it’s a game changer — bringing in a developer of that caliber
with really deep pockets,” said Jake Milner of Davidson Bogel Real Estate, which has brokered other sales in the area.

McGregor — one of the original partners in West Dallas Investments — confirmed the properties had traded but said he wasn’t directly involved in the transaction and didn’t have knowledge of the details.