Seco Ventures Acquires 26-Acre Development Site On Panther Island In Fort Worth, Texas
500 N Main St Fort Worth, TX 76164, USA
Building Size
1,130,000 SF
Asset Type
Development Site
Closing
Jun 30, 2023
AI
The largest single capital investment for land from the private sector has been made on Panther Island in Fort Worth, Texas. LanCarte Commercial Real Estate recently announced the sale of approximately 26 acres over ten parcels of privately-owned land on Panther Island. The development site spans 1,130,000 square feet, making it a significant addition to the area's real estate market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: Not disclosed
- Address: 500 North Main Street, Fort Worth, Texas
- Market: Fort Worth
- Buyer: Seco Ventures
- Seller: Panther Acquisition Partners, Ltd.
- Brokers: Sarah LanCarte, Darren Cain & Daniel Shelley - LanCarte Commercial Real Estate
This sale marks an important milestone for Panther Island, showcasing the collaboration between public and private stakeholders in the ongoing planning efforts for the project. The acquisition by Seco Ventures demonstrates their commitment to investing in the development of the area and highlights the potential for future growth in Fort Worth's real estate sector.
Players
Texas Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93