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September 19, 2020
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TEXAS/SOUTHWEST NEWS
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123k sf Fort Worth, TX Office Property Sells

7/24/19

A 122.8k sf office building in Fort Worth,TX was acquired by an owner/user in a recent transaction. The property, located at 550 Bailey Ave, was sold by the Diversified International Partners Fund.

The building was fully renovated in 2008 to 2009, with the final upgrades to the common areas completed during ownership. The West Seventh District/Fort Worth Cultural District submarket in Fort Worth, where 550 Bailey Ave is located, has performed well during this economic cycle with vacancy remaining well below the metro average. Due in part to its location and accessibility, this submarket should continue to perform well.

Jim Sager with Transwestern Commercial Services represented the buyer in the transaction. Gary Carr, John Alvarado and Robert Hill of CBRE provided disposition services. The price was not disclosed.





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