177K-SF One Ridgmar Centre Sells to Frontier Equity
One Ridgmar Centre, a Class B office building on Fort Worth’s southwest side, sold to Frontier Equity LLC, which is headquartered in Addison, TX. Irving, TX-based NavStar Commercial LLC sold the 177,199-square-foot asset at 6500 W. Freeway for an undisclosed price. The property is valued at $20.1 million. Steve Simon and Steve Rowland with Transwestern represented the seller in the transaction.
The 1980s property was 89% occupied at the time of sale, with rents at 10%-15% below market rate. “One Ridgmar Centre proved to be a highly sought-after property receiving multiple offers on the sale,” said Simon. “This robust activity is representative of the increased level of investor interest in the Fort Worth office market.”
For comments, questions or concerns, please contact Amy Sorter