Northmarq’s Tulsa office completes sale of Ft. Worth, TX medical office
FT. WORTH, Texas (Nov. 12, 2024) — Associate Vice President David Annett of Northmarq’s Tulsa office arranged the sale of a 10,000-sq.-ft. healthcare property located at 10600 N. Riverside Drive. The multi-tenant medical office was built in 2018 and features three tenants.
Northmarq represented the purchaser in their 1031 exchange. The property is ideally located near the intersection of Interstate 35W and Highway 170 and is directly across from Texas Health Harris Methodist Hospital and Cooks Children’s Specialty Clinics. The Class B medical office is triple net leased to Riverside Dental, Beelieve Pediatric Therapy and Alliance Women’s Healthcare.
“We were able to identify the subject asset through our marketing efforts prior to it ever hitting the market broadly. Therefore, our 1031 investor had a runway to finalize their underwriting and ultimately choose the property as one of their replacements,” said Annett. “We found that there is a lot of pent-up demand for healthcare service operators in this newer hospital corridor. We felt comfortable with the future of market rents in the corridor, and we’re thankful to the seller’s representatives, NAI Robert Lynn, for giving us a pre-marketing look at the asset for our exchange client.”
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