The Magnolia Medical Tower in Fort Worth, Texas, recently changed hands. (Photo courtesy of CBRE)
The CBRE U.S. Healthcare Capital Markets Group acted as the exclusive advisor for the sale of the Magnolia Medical Tower in Fort Worth, TX.
Sale Date: September 21, 2016
Portfolio Size: 89,991 SF
Occupancy: 72.9%
The CBRE U.S. Healthcare Capital Markets Group is pleased to announce the sale of the Magnolia Medical Tower (the “Property”) in Fort Worth, TX. Lee Asher and Chris Bodnar of the U.S. Healthcare Capital Markets Group partnered with Austin Barrett in the Dallas/Fort Worth Market as the Seller’s exclusive advisors.
The Property is a six story, 89,991 rentable square foot medical office building that was built in 1985 and extensively renovated in 2013. Positioned on a ±1.9-acre parcel of land, the Property includes a four-level parking structure that is connected to the medical office building and a large surface parking lot.
The multi-tenant Property, which is currently 72.9% leased, is occupied by a synergistic mix of healthcare providers that practice a variety of physician specialties including obstetrics and gynecology, neurology, cancer care, and primary care. The Property is ideally located across the street from the Baylor Scott & White All Saints Medical Center – Fort Worth, an award-winning full-service hospital equipped with approximately 574 licensed beds.
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