Investment Overview
Marcus & Millichap is proud to present The Kress Building, a 43,596-square-foot mixed-use asset situated on 0.23 acres, located in the heart of Downtown Fort Worth, Texas. This fully occupied investment opportunity provides a new investor the rare opportunity to acquire a beautiful historic asset located within walking distance to iconic landmarks and new developments, including: Sundance Square, the Fort Worth Convention Center, Texas A&M’s new law school campus, Hillwood’s new planned development, and many more. This prime location presents an enticing investment property for investors seeking to capitalize on the city’s dynamic growth. The subject property features a blend of established retail uses, as well as twenty-four loft-style multifamily units at below market rents, providing tremendous upside for a new investor.
Fort Worth, Texas has recently been recognized by the Wall Street Journal as the next commercial real estate boom market. Fort Worth is the 13th largest city in the United States, and has become a beacon for those seeking a blend of urban amenities and Texan charm. With a population of just under one million, the city’s allure has surged due to several key factors. Fort Worth offers a comparatively low cost of living, making it an attractive destination for families, professionals, and entrepreneurs alike. Recent corporate moves to Fort Worth have injected vitality into the local economy. Companies recognize the city’s potential and are establishing roots, creating job opportunities and fostering growth. The city’s landscape is dotted with opportunities for further development. From revitalized neighborhoods to ambitious infrastructure projects, Fort Worth is a canvas for progress.
Overall, The Kress Building provides a new value-add investor 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. With proximity to multiple new developments in Downtown, the property is sure to benefit from increased foot traffic and daily visitors. The multifamily units present an immediate value-add opportunity through bringing rents up to market rates, as evidenced by the continually changing landscape of product being delivered in the Downtown submarket.
