Transwestern Facilitates Building Sale, New Ownership Plans Renovations
December 19, 2022
FORT WORTH, TEXAS – Transwestern Real Estate Services (TRS) announces University Centre I, a 99,267-square-foot, six-story office building located at 1300 S University Drive, has sold to 2SP Partners LLC, a local real estate investment group. Transwestern’s Kyle Poulson and Gibson Duwe represented the buyer in the transaction. The new ownership plans to significantly upgrade the common areas, lobby and tenant suites.
“A tumultuous capital markets environment presents opportunity. With amenities that include ample parking, an A+ location and common area upgrades that will be completed soon, we are very excited for the future of this property,” Duwe said.
Current tenants in the building include financial groups, energy companies and law firms. The property is minutes from amenities such as Colonial Country Club and Texas Christian University and has direct access to I-30. In addition to handling the building sale transaction, Transwestern will now take over office leasing for the project.
“This irreplaceable asset is critical to the growth of the West Fort Worth office market, and we are pleased to be spearheading the ownership group. We plan to substantially upgrade the building’s lobby and common areas. It is not often that you are able to buy a phenomenal asset less than five minutes from your house in the heart of Fort Worth,” said Poulson.
According to Transwestern research, companies are universally demanding better office amenities to compete with remote and hybrid work. Rising construction costs have driven rents at Fort Worth's newest buildings over $55 per square foot. University Centre's enhanced amenities will offer significant value for tenants.
Frank Taylor with JLL represented the seller.
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, investment management, and opportunistic endeavors for high-net-worth investors. 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.