SOLD
Miramar Capital Acquires Retail Property In Fort Worth, TX For $14M
2701 Halloran Street
Retail
44,342 SF
44,342 SF
Sold 279 days ago
Summary
Sale
TEXAS
Retail
44,342 sqft
A retail property located at 2701 Halloran Street in Fort Worth, TX has been sold for $14,000,000. The property spans 44,342 square feet, resulting in a price per square foot of $316. The sale was completed on 08/03/2023.
Summary of transaction details
- Property Type: Retail
- Sale Price: $14,000,000
- Square Footage: 44,342
- Price Per Square Foot: $316
- Address: 2701 Halloran Street, Fort Worth, TX
- Market: Fort Worth, TX
Miramar Capital purchased the property from Robert Zelman. Jake Plewa from Remax represented the buyer, Miramar Capital, while Mark Thiel from Marcus & Millichap represented the seller, Robert Zelman.
Noteworthy details provided by the broker include the following:
- Tenant: 24 Hr Fitness
- The Fort Worth location is adjacent to a brand new 400+ unit mixed-use development.
- The lease is corporate-guaranteed.
- The property has a 10% capitalization rate and a 23% cash-on-cash return.
- There are 13.5 years remaining on the Absolute NNN lease with the option for four 5-year extensions.
Players
All
4
Agents
2
Agencies
2
Details
SOLD
IMAGE: Jake Plewa & Mark Thiel
DATE: 08/03/2023
ADDRESS: 2701 Halloran Street
MARKET: Fort Worth, TX
ASSET TYPE: Retail
BUYER: Miramar Capital
SELLER: Robert Zelman
BUYER'S REP: Jake Plewa (@JjPlewa) - Remax (@Remax)
SELLER'S REP: Mark Thiel - Marcus & Millichap (@MarcusMillichapLosAngeles)
SALE PRICE: $14,000,000
SF: 44,342 ~ PPSF: $316
NOTE FROM BROKER: • Tenant: 24 Hr Fitness • Fort Worth location adjacent to brand new 400+ unit mixed-use development • Corporate Guaranteed Lease • 10% Cap Rate & 23% Cash on Cash Return • 13.5 years left on Absolute NNN Lease • (4) 5-Year Options.View on map
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Address2701 Halloran Street
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