FOR IMMEDIATE RELEASE
Transaction closed September 30 for newly constructed building with single tenant
Ft. Worth, Texas (Sept. 30, 2021) The Easton Group, a leading commercial real estate firm in Miami, arranged the sale of a 20, 200-square-foot medical office building in Ft. Worth, Texas to Dallas-based Ridgeline Capital Partners. The transaction closed September 30. The seller, a joint venture between SkyWalker Property Partners and an orthopedic surgeon, developed the property in 2020.
The Easton Group’s Elliot LaBreche and Abigail Kind advised both parties in the transaction.
The two-story medical office building is leased on a long-term triple-net basis to a single tenant, a medical practice controlled by the physician JV partner. The practice specializes in hand, elbow and shoulder procedures, primary care and physical therapy. The property is located at 5612 Edwards Ranch in the affluent and growing Clearfork submarket.
“In April 2021, The Easton Group approached Ridgeline on this opportunity to acquire a newly built Class A medical office building in Fort Worth,” said Jeff Axley, founder and managing principal of Ridgeline Capital Partners. “We have acquired over $240 million worth of medical office buildings in Texas and this property aligns well with our investment strategy.”
“We were pleased to identify this great opportunity for both parties,” said LaBreche, a vice president with The Easton Group. “The buyer is able to add a new asset with a long-term tenant to its portfolio and the seller was able to achieve their valuation expectations.”
The Easton Group team has closed transactions in Texas, South Carolina, Florida and has deals under contract in Pennsylvania, Wisconsin and Massachusetts. Total deal volume will exceed $100 million in 2021.
# # # #
About The Easton Group:
Edward W. Easton is founder and chairman of The Easton Group, a family-owned, boutique commercial real estate firm with over 40 years of experience and an exceptional track record. The group is broken down into four business units consisting of commercial real estate investment, development, brokerage, and property management. The Easton Group is headquartered at International Corporate Park in Doral, Florida. For more information log on to www.theeastongroup.com.
Media Contact:
Todd Templin
BoardroomPR
ttemplin@boardroompr.com
954-370-8999/954-290-0810
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE
