JLL on May 11 announced the firm has completed the sale of 3700 Hulen Street in Fort Worth on behalf of Chemical Management Co. Inc. 3700 Hulen, LLC purchased the five building complex. No price for the transaction was released.
JLL Managing Director Pat McDowell and Vice President Matt Montague led the sales team.
The property once served as the headquarters for mineral and lime producing company Lhoist North America, which relocated to the Clearfork development.
“3700 Hulen provides a great opportunity for the new ownership group,” said McDowell. “Its location, the accessibility to major highways and roads, and its vicinity to amenities and entertainment make it an intriguing property for prospective tenants.”
3700 Hulen Street is located in the West/Southwest submarket of Fort Worth near Interstate 30 and the new Chisolm Trail Parkway. The five-building office property totals 45,118 square feet and includes abundant surface parking, landscaping, an outdoor patio and fountain. The sale includes the 2.6 acres on which it is situated.
West/Southwest submarket remains one of the most active in Fort Worth. According to JLL Research in Q4 2016, the submarket net absorption percentage (2.3 percent) was second highest in Fort Worth, while the vacancy rate (9.3 percent) was second lowest. Only Westlake/Southlake had a higher net absorption rate (2.8 percent) and Centerport/DFW Airport had a lower vacancy rate (3.1 percent).