A Fort Worth investor has purchased the three-story, 43,729-square-foot office building at 200 Bailey Ave., Transwestern Real Estate Services said Monday.
Transwestern’s Kyle Poulson and Gibson Duwe facilitated the transaction on behalf of the seller. Transwestern said the identity of the buyer was undisclosed.
“With roughly 18,000 square feet of vacant space, the buyer is planning to revamp aesthetic features of this building, creating a sizable block in addition to smaller suites of office space, which is hard to find in this unique part of Fort Worth,” Duwe said.
"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," Transwestern said.
Hahnfeld Hoffer & Stanford Architects, a lead tenant in the building, will remain, Transwestern said. The buyer was represented by Will Martin of W. Martin & Co.
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