The offering presents a rare opportunity to acquire a single-tenant property in the heart of one of Fort Worth’s premier locations, the West 7th Entertainment District. The 1,145-square foot building is leased to Snap Kitchen, a private company that currently has more than 40 shops with additional locations inside select Whole Foods Markets. The absolute net lease has nine years remaining on the term with 10 percent rent escalations scheduled every five years, including three, five year options for renewal. Originally constructed in 1960, the building is situated on 0.14 acres.
The subject property is located on the north side of West 7th Street in between Foch Street and Currie Street. Traffic counts in front of the property are approximately 21,500-vehicles per day. West 7th Street begins in downtown Fort Worth and is the main artery that cuts through the West 7th Entertainment District, placing the property in the middle of one of the city’s most sought after locations. The subject property benefits from its proximity to more than 1,800 apartment units including the newly constructed Class A apartment complex Elan West 7th. Additionally, the new Left Bank mixed-use development on West 7th Street is expected to include 1.5 million square feet of retail, residential, hotel and office units. The Fort Worth Cultural District, directly south of the subject property, attracts up to two million visitors annually.
- AAA Urban Infill Location on West 7th Street | One of Fort Worth’s Premier Locations for Shopping, Dining and Entertainment
- Absolute Net Lease with Corporate Guarantee | No Landlord Responsibilities
- Nine Years Remaining on the Term with Four Five-Year Renewal Options
- Lease has 10 Percent Rent Bumps Scheduled Every Five Years Including Option Periods
- In the Shadow of Downtown Fort Worth and the Cultural District with World Famous Museums, Attracting up to Two Million Visitors Annually
- Near the Left Bank Development | 1.5 Million SF Mixed-Use Development Featuring the Area’s First Urban Grocer, Specialty Retailers and Restaurants, a Full-Service National Brand Hotel, Premier Office Space, and a Park
- Five Area Mixed-Use Developments with 4,900 Residences, 673,000 SF of Retail, and 648,000 SF of Office
- Densely Populated with over 250,000 Residents Within Five Miles
- One of Few West 7th Street Properties with a Dedicated Parking Lot
- Snap Kitchen to Hire 200 Workers for New Fort Worth Facility
- Starbucks is expected to Add Snap Kitchen Meals in 16 DFW Locations
