122,828 SF office building in Fort Worth trades
July 23, 2019
Fort Worth, Texas – Transwestern Investment Group (TIG®) today announces it has sold a 122,828-square-foot office building on behalf of the Diversified International Partners Fund. Vice President Jim Sager with Transwestern Commercial Services represented a user that acquired the building at 550 Bailey Ave. in Fort Worth, Texas.
“This building is in an excellent location within walking distance to the popular West 7th District,” said Richard Yeh, Managing Director at TIG. “The ownership invested in upgrades to the common areas, which, coupled with the premier location, led us to successfully execute the sale.”
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.
Gary Carr, John Alvarado and Robert Hill of CBRE provided disposition services.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group (TIG®) is an investment adviser serving a broad range of clients through a diversified array of discretionary and non-discretionary investment vehicles. With $4.5 billion of assets under management as of year-end 2018, our client-focused, relationship-driven approach is built upon trust, integrity and transparency. TIG provides tactical investment management with an integrated operating platform through the Transwestern enterprise, which includes a diversified real estate services firm with
34 U.S. offices and a prominent commercial development company. For more information, visit transwesterninvest.com.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.