Marcus & Millichap presents a rare opportunity to acquire a two-tenant retail property leased to national credit tenants in the heart of one of Fort Worth’s premier locations, the West 7th Entertainment District. The 5,541-square foot building is leased to Sprint and PNC Bank. PNC Bank, with over 2,600 branches across 19 states, has a newly executed 10-year lease. Both leases are triple net and have two five-year options for renewal. Built in 2012, the building is situated on 0.43 acres.
The subject property is located on the signalized hard corner of West 7th Street and Foch 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 over 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
- Two-Tenant Retail Strip Center with National Credit Tenants
- Both Leases are Triple Net and Have Options for Renewal
- PNC Bank has a Newly Executed 10-Year Lease | Mattress Firm Declined its Renewal Option | Seller Procured a Lease with PNC Bank in less than 30 Days
- Building is Newer 2012 Construction
- Signalized Hard Corner Location on West 7th Street at Foch Street
- Traffic Counts are Approximately 21,500 Vehicles per Day in Front of the Subject Property
- 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-Square Foot 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
- Densely Populated with over 250,000 Residents Within Five Miles
