JLL announced the sale May 28 of the Katy Depot near downtown Fort Worth. The purchaser is a medical company who plans to renovate the 23,413-square-foot former freight depot.
JLL’s Joel St. John and Ryan Matthews represented the seller Besco Supply, a family-owned masonry and building supply company, in the sale. NAI Robert Lynn’s Todd Hubbard represented the buyer. Acquisition financing was provided by PlainsCapital Bank.
“Our Fort Worth Medical District is a huge driver for our local economy, generating new business opportunities within our region,” said St. John. “This provided a terrific disposition opportunity for Besco as this historic property is now set to play a new role in Fort Worth’s future under new ownership.”
Built in 1909, the Katy Depot was originally designed as a freight depot for the Katy Railroad which connected Missouri, Kansas and Texas. It served as a builder’s supply house from 1996 until Besco relocated to larger facility at 3521 Hemphill Street last year.