Transwestern Real Estate Services announced that it brokered the sale of a campus spanning 1.4 million square feet of office space Fort Worth, Texas. The campus had previously served for decades as American Airlines’ global headquarters until last year, when it was vacated and put on the market. The sale price was not disclosed.
The campus, consisting of three buildings — 4151, 4255 and 4333 Amon Carter Blvd. in Fort Worth — was purchased by Capital Commercial Investments, Inc., a real estate investment and development firm based in Austin, Texas. The first building, the 775,000-square-foot 4333 Amon Carter Blvd., was completed in 1989. The office buildings at 4255 and 4151 Amon Carter Blvd. followed in 1998 and 2001, respectively.
Distinguished by its dodecagon-shaped floorplates, the buildings are among the only large blocks of contiguous office space in Dallas-Fort Worth. Paul D. Agarwal, founder of Capital Commercial Investments, said, “One of the reasons we purchased the property is there seems to be a shortage of large, continuous blocks of office space. We have a few large tenants in mind for the spaces that are available.”
Transwestern Managing Director, Mike Hardage, oversaw the transaction between American Airlines and Capital Commercial Investments.
Prior to the sale, Hardage said, “This offering presents an outstanding opportunity for a user or investor to acquire an ideally located office campus with excellent recruiting access to both Dallas and Fort Worth. The property has been extremely well-maintained and features a unique, underground pedestrian tunnel that connects all three buildings. Furthermore, the Trinity Railway Express commuter train and station are only a 14-minute walk and offer 30-minute rides to both Dallas and Fort Worth.”
In addition to its proximity to the Trinity Railway Express train, the 40-acre campus also benefits from easy access to the Dallas-Fort Worth International Airport, which is only three miles away. The property also features six acres of undeveloped space.
Capital Commercial Investments now plans to increase the value of the property by renovating entrance lobbies, building out model suites and common areas, and enhancing lighting throughout the buildings. Transwestern will continue handling leases and property management for the new owner.
Property images courtesy of Yardi Matrix.