News Release: Ridgeline sells Midtown Medical office building for $19.2 million

Ridgeline Capital Partners has sold the Midtown Medical office building. (Photo courtesy of Ridgeline Capital Partners)

Ridgeline Capital Partners has sold the Midtown Medical office building. (Photo courtesy of Ridgeline Capital Partners)

Ridgeline Capital Partners has sold the Midtown Medical office building, a 57,905 SF building that is 95% occupied and located at 900 Jerome Street in Fort Worth.

The building was bought by a private investor for $19,200,000.

The property is in the center of the medical district in close proximity to Baylor All Saints Medical Center, Cook Children’s Medical Center, Texas Health Harris Methodist Hospital Fort Worth and Plaza Medical Center of Fort Worth.  The area is also known as the Near Southside, a vibrant district south of downtown Fort Worth experiencing tremendous growth.

Ridgeline’s CEO, Jeff Axley commented “When Ridgeline went under contract on the building in 2015, the building’s occupancy rate was 62%.  During our short ownership the building achieved a 95% occupancy rate to 8 medical tenants on long-term NNN leases which created the opportunity to sell.”

The buyer was represented by Bowen Cardoza with Cosol Commercial Real Estate and the seller was represented by Jeff Matulis, Toby Scrivner and Grant Wilkins with Stan Johnson Company.

For more info on Ridgeline please visit: www.ridgelinecp.com

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