The Foch Street Warehouses in Fort Worth have been acquired by Lionstone Investments of Houston. The sale was arranged by PegasusAblon of Dallas.
Located at 921 and 1001 Foch Street in Fort Worth, the 136,297 square foot retail center is currently 90 percent leased.
“The Foch Street Warehouses provide the unique restaurants and highly personalized service providers the experience economy is looking for,” said Michael Ablon, principal of PegasusAblon.
The Foch Street Warehouses are currently 90% leased to a diverse group of 34 tenants which include small soft goods shops, creative office space, health and wellness studios and high volume restaurants. No price was released on the transaction.
“We view the Foch Street Warehouses as an asset with strong value-add investment potential as well as long-term stability,” said Dan Dubrowski, a Founding Partner of Lionstone Investments. “The character and location of this property ensure that it will experience outsized demand over the long term.”
CBRE represented the seller.
Asset management and leasing services for the property will be provided by PegasusAblon.
The warehouses consist of three buildings that constructed immediately following WWII, between 1947 through 1953, according to the website of the previous owner, Foch Street South. The buildings are a series of three former warehouses that have been redeveloped into multi-use buildings housing retail, restaurant, office, and creative tenants.