Miramar Capital Acquires Retail Property In Fort Worth, TX For $14M

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.