In an off-market acquisition, Bradford Commercial Real Estate Services has found a new headquarters location in North Fort Worth for well-known entrepreneur Ron Sturgeon, a commercial property investor and noted car collector.
Ron Sturgeon Real Estate has acquired McMillan Center, a three-building, 137,083-sf complex with 16,073 sf of covered dock space set on 9.9 acres at 2550 McMillan Parkway in Fort Worth. The seller is an undivided tenants-in-common comprised of three limited liability companies that agreed to flip the project after just a few months of ownership.
“It was on the market for lease. It checked a lot of boxes for what we’d been looking for so I called,” says Shane Benner, first vice president in the Fort Worth office for Dallas-based Bradford and the buyer’s broker. “The buyer loved the location and made a compelling offer.”
Sturgeon has had his headquarters in nearby Haltom City nearly four decades but plans to relocate following extensive renovations to the complex’s main building, totaling 115,078 sf. The other structures – a 12,544-sf office building and 9,362-sf maintenance facility – will be available for lease.
“I had hoped to stay within Haltom City, but I was unable to come to terms with city officials on two locations,” Sturgeon says. “Shane did an excellent job finding the ideal property and I’m looking forward to moving to Fort Worth.”
Benner says the project’s lone tenant immediately downsized after the closing so construction could get underway. The company will be vacating the property at the end of January.
The rail-served site is best known as the former Coors distribution center, which has frontage on North Freeway and unobstructed visibility from Interstate 35. The complex, with views of the Fort Worth skyline, is situated within miles of Meacham International Airport and the Central Business District.
Start to finish, the off-market deal went full circle within three months. The TIC sellers were Gyant Coors LLC, Gyant Josh Road LLC, and Gyant V LLC, which were represented by Todd Hawpe of Transwestern.
“There were absolutely no hiccups with this closing, which was nice,” says Benner, whose client had been quietly scouring the market since spring for a new headquarters location.For Well-Known Entrepreneur in Fort Worth
