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A prominent mid-rise office building just outside downtown Fort Worth has traded hands.
1612 Summit Avenue, a 52,000-square-foot Class A office property, was purchased by 1612 Summit Partners, a private investment group with strong ties to the Fort Worth market.
The deal was brokered by Formation Real Estate. Grant Huff of Formation Real Estate represented the buyer and will oversee leasing efforts going forward. The seller was represented by Bill Behr and Gavin Behr of Transwestern, with Steve Nichols of Jim Finley Properties also involved.
The four-story building is located at the intersection of Summit Avenue and Interstate 30.
“We are extremely excited to acquire and bring 1612 Summit Avenue under management,” said Nick Martin, a managing partner of 1612 Summit Partners, in a statement. “We’re looking to immediately add value to the building to benefit its great existing tenant base and increase interest from new tenants.”
Available suites range from 600 to 9,417 rentable square feet, with flexible floorplans designed to accommodate a wide range of users. Ownership plans to refresh the building’s common areas and offer customized finish-outs for incoming tenants, according to a press release.
Fort Worth’s office market has proven more resilient than many larger metros, with continued activity in well-located, mid-size buildings. Investor confidence in the area remains strong, supported by the city’s ongoing growth, infrastructure investments, and a business environment that favors long-term stability.
Formation Real Estate is a Fort Worth-based commercial real estate firm founded in 2015 by John Jinks and Robert Sawyer. In 2020, David Barber joined the firm to help grow the project leasing and asset management business.
This acquisition builds on a series of notable achievements by the Formation team, including the complete lease execution of 6050 and 6100 Southwest Boulevard.