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2821 West 7th Street

Weaver Renews Lease At One West 7th In Fort Worth
LEASEDOffice

Weaver Renews Lease At One West 7th In Fort Worth

2821 West 7th Street

Building Size

36,000 SF

Asset Type

Office

Closing

Aug 1, 2022

AI

The lease for the property at 2821 W. 7th St. in Fort Worth has been renewed. The office space spans 36,000 square feet and is located in the popular West Seventh submarket.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Address: 2821 W. 7th St.
  • Market: Fort Worth
  • Square Footage: 36,000

Dallas-based Citadel Partners represented Weaver, a national accounting firm, in the lease renewal. Citadel Partners is a corporate tenant and asset services real estate advisory firm. Weaver, as the original lead tenant, will continue to occupy the top two floors of the seven-story building at One West 7th. The lease includes prominent, top-of-building signage for Weaver.

Scott Morse, Scott Jessen, Andy Goldston, Daniel Mullen, and Katherine Jessen from Citadel Partners served as the tenant's representatives. Matt Carthey and Jake Neal from Holt Lunsford Commercial represented the landlord, Macfarlin Capital Group.

The lease renewal allows Weaver to accommodate its growth and national prominence while addressing the firm's future needs and the evolving workplace environment. Morse and his team have worked with Weaver for over 26 years to develop and implement a real estate strategy for the firm's national portfolio. Weaver has also completed assignments in other cities, including Oklahoma City, Houston, Midland, and Los Angeles.

Players

Matt Carthey

Holt Lunsford Commercial

Broker

27 deals

Broker

Fort Worth Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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