913 Houston

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Investment Overview

Marcus & Millichap is pleased to exclusively present for sale 913 Houston Street, a 11,760- square-foot retail asset located in the heart of downtown Fort Worth, Texas. The subject property features three floors; a basement, main floor, and mezzanine, and is situated on 0.12 acres at the intersection of Houston Street and 9th Avenue. The 913 Houston is featured in a prime location, directly across from the Fort Worth Convention Center, which has recently begun construction on the $95 million Phase of its 20-year planned expansion.  The subject property is currently zoned H – Central Business, which allows for a multitude of commercial uses to service the immediate area, with no height restrictions. 

The subject property is located proximate to major economic drivers in the area including the iconic Sundance Square, the expanding Fort Worth Convention Center, and Texas A&M's Downtown Fort Worth Campus. The Texas A&M Campus development is located at 1515 Commerce Street and is less than one-half mile from the subject property. The overall investment in the Texas A&M Fort Worth Campus is projected to reach $350 million in total, with construction anticipated to conclude by 2025.  The downtown area has also seen an influx of over 3,000 new residents due to the recent surge in new multifamily developments.

Within close proximity, there are several new vertical development projects receiving a tremendous amount of funding, exemplifying the strength of the downtown Fort Worth market. Most notably, the nearby Omni Hotel has plans for new expansion, and is a sparkplug for over $700 million in new hospitality development projects scheduled for Downtown. The Omni Hotel expansion plans to deliver over 1,000 total guest rooms, while adding an additional 50,000 square feet for meeting space, and a subsequent 450-space parking garage to accommodate the upgrades.

The nearby Fort Worth Convention Center is set to add more than 180,000 square feet of event space in the next several years. The upgrades will feature a new 85,000-square-foot ballroom, accompanied by 97,000 square feet of additional exhibit space. In total, the facility's usable square-footage is scheduled to increase by 40%, and Phase II is anticipated to be delivered with an additional $500 million investment. 

The city of Fort Worth has recently been recognized by the Wall Street Journal as the next major boom market for commercial real estate.  Fort Worth, Texas is also recognized as the fastest growing city in the United States, with a population of just under one million. As the 13th largest city in the country, Fort Worth is also generating an impressive $2.5 billion in new developments. Factors such as the relatively low cost of living, proximity to recent major corporate relocations, and robust development opportunities have driven more new residents to the Fort Worth market at a rate faster than any other city in the United States.

Overall, 913 Houston provides a new value-add investor owner/user the rare opportunity to acquire a prime downtown Fort Worth trophy asset, proximate to many of the main traffic generators in the urban core of the city.  The subject property is core asset located at the entrance of the expanding Fort Worth Convention Center, in an extremely high-barrier-to-entry market, providing the potential for future upside to capture rising rents in the downtown submarket. With a tremendous amount of funding allocated to new developments in downtown Fort Worth, 913 Houston is situated directly in the growth path of increased foot traffic and daily visitors, providing a prime location for a high-visibility retail opportunity.