BEDFORD, TEXAS, May 10, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Forest Ridge Office, a 57,784-square foot office property located in Bedford, Texas, according to H. Kyle Palmer, Regional Manager of the firm’s Fort Worth office.

Cody Payne, agent in the firm’s National Office and Industrial Properties Group in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a fund manager, was secured by Philip Levy, Senior Director, also in Marcus & Millichap’s Fort Worth office.

Forest Ridge Office is located at 1600 Airport Freeway in Bedford, Texas.  The property was built in 1985 of high quality construction and finish out. It is perfectly situated on recently expanded Airport Freeway (Highway 183) and Forest Ridge just a few miles from DFW Airport.
The building consists of (59) office suites, with high end, full service executive suite and virtual offices available. The building also has had many upgrades including parking lot, restroom renovations and upgraded HVAC systems in 2014. 1600 Airport Freeway is the premier office asset in the Mid-Cities submarket of Bedford with historically strong leasing activity, fantastic curb appeal with manicured landscaping, abundant parking and offer a mix of local and regional tenants.

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About Marcus & Millichap (NYSE: MMI)

With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com