Worth Commercial Real Estate Acquires Historic Magnolia Centre in Fort Worth

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Worth Commercial Real Estate has planted a stake in the Near Southside with the acquisition of Magnolia Centre, the 31,000-square-foot property serves the area as a Class B office building.

The historic property in the thriving Magnolia corridor is at 1227 W. Magnolia Ave.

“We are excited to have a footprint in such a vibrant area of Fort Worth,” said Tim Bates, Worth co-owner and partner, in a statement. “This investment provides the opportunity to acquire an extraordinary asset and will be home to our team in 2025.”

Worth Commercial, entering its 10th year in business, plans to finish office space on the fourth floor of the building that will serve as its headquarters.

The building has a storied past, opening in 1925 as the Southside Masonic Lodge. It was designed by architect J.B. Davies and was erected at a price of $150,000, or $2.75 million today. The building was added to the National Register of Historic Places in 1985. It has largely been office space since the lodge moved in 1977. The edifice was renovated and rebranded Magnolia Centre in 1986.

Davies, a Fort Worth civic leader, played a key role in shaping the city's Art Deco heritage, alongside notables Hubert Hammond Crane, Preston Geren, Joseph Patterson, Joseph Pelich, Elmer Withers, and Robert Woltz. Their work marked a significant period of economic expansion in Fort Worth between the world wars.

Worth Commercial specializes in tenant representation, third-party leasing, commercial investments, and investment sales. The firm has facilitated more than $80 million in commercial real estate transactions, spanning office buildings and apartment complexes.

“Magnolia Centre has had a storied history in the Near Southside, from fostering small business to acting as host to memorable celebrations,” said Mike Brennan, president of Near Southside Inc. “I appreciate Worth Commercial Real Estate’s commitment to carry the building into its next chapter as a cornerstone for small business all while preserving what makes it architecturally unique.”