Fort Worth Northbrook Ltd. has sold Northbrook Business Center, a 334,082-square-foot industrial business park in north Fort Worth to Northbrook 820 LLC, a Wilson & Stonaker LLC partnership, for an undisclosed amount.
Transwestern Principals Jeff Givens and Sarah LanCarte, SIOR, CCIM, represented the seller in the transaction.
“With the property at 85 percent occupancy, this was a solid investment opportunity for us,” said Bill Stonaker, president, Wilson & Stonaker LLC. “We were further attracted to the property because of the two adjacent land tracts, which we plan to develop.”
The four-building complex, which is in the Meacham Field/Fossil Creek industrial submarket, has space available for lease from 20,000 to 56,000 square feet. Givens and LanCarte will continue to lease the property for the new ownership.
“As a longstanding client, Wilson & Stonaker will capitalize on our knowledge of the Northbrook property, its tenants and this submarket to lease the property’s available space and provide immediate cash flow,” said LanCarte. “The buildings provide numerous advantages for users of various sizes and industries, including high visibility and easy access.”