FORT WORTH – Bradford Commercial Real Estate Services has closed an all-cash sale for a local investment group divesting of a three-story building in downtown Fort Worth’s historic Houston Street corridor where $2.8 billion of construction is planned or underway.
Located at 907 Houston St., the vacant 7,131-sf building neighbors the Fort Worth Convention Center and is located within a quick walk of Sundance Square. Shane Benner, first vice president of Bradford, and Courtney Stanford, senior vice president, represented the seller, 907 Houston Street LLC.
“It’s kind of a rare gem,” Stanford says. “It drew interest from a variety of users – residential, office, restaurants and retail.”
The building, erected in 1905, underwent a significant renovation in 2017 for single-tenant use, with a new roof going on in 2024. The seller has closed out a 10-year hold with the trade to 1876 LLC, which was self-represented.
“The asset is in great shape, but it has zero parking, which was our biggest challenge,” Benner says. “Fortunately, there are two nearby parking garages with spaces available.”
Dallas-based Bradford made the close within three months of its Fort Worth office getting the listing. The building features three floors of office space, a full basement and an elevator with a rooftop level as an added amenity, including build-out potential.
Houston Street is one of downtown’s oldest commercial corridors. The just-sold structure is nestled between the Hogan Building, a Texas Historic Landmark, and the renowned Peters Bros. Inc.- Hatters’ retail store established in 1917.
Adding to the building’s appeal is a premier positioning within the downtown. It is a half block from the convention center, which is undergoing a $700 million expansion, and a short walk from Sundance Square’s retail, dining and entertainment venues, including the world-class Bass Performance Hall.
“The buyer placed the first offer. We got just shy of the asking price with minimal negotiation,” Benner says.
FOR ADDITIONAL INFORMATION:
Shane Benner, 817-921-8174
Courtney Stanford, CCIM, 972-998-2361
Bradford Commercial Real Estate Services/CORFAC International is a full-service real estate company based in Dallas with an annual transactions volume exceeding five million square feet. The company manages and leases more than 20 million square feet, valued at $300 million, in North Texas for its strategic partners.