Transwestern Brokers Sale on Behalf of Local Investor
July 20, 2021
FORT WORTH, TEXAS – Transwestern Real Estate Services (TRS) announces the sale of 200 Bailey Ave., a three-story, 43,729-square-foot office building, to an undisclosed Fort Worth-based investor. Transwestern’s Kyle Poulson and Gibson Duwe facilitated the transaction on behalf of the seller.
“With roughly 18,000 square feet of vacant space, the buyer is planning to revamp aesthetic features of this building to create a sizable block in addition to smaller suites of office space, which is hard to find in this unique part of Fort Worth,” said Duwe. “Located in a highly desired location on the west side of Fort Worth, we are thrilled for the future of this site for the new buyer and we are excited they saw the tremendous value of this site.”
200 Bailey Ave. is in proximity to notable projects and attractions such as the Modern Art Museum and Crescent Real Estate’s upcoming $250 million Cultural District development. The acquisition of this building presented a unique opportunity to purchase an office property in a market that has maintained 86.8% occupancy with rental rates upwards of $29 per square foot throughout COVID-19.
Hahnfeld Hoffer & Stanford Architects, a lead tenant in the building, will remain in its current location.
The undisclosed buyer was represented by Will Martin of W. Martin & Company.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.