Overview
Harvest MXD is pleased to exclusively offer the opportunity to acquire The 701, a 97% occupied, headquarters-quality, class-A mixed-use asset located in Fort Worth’s Magnolia Village- a supply-constrained, health-care anchored urban corridor adjacent to five major hospital systems and one of North Texas’ most concentrated employment clusters.
The Property combines long-duration, contractual cash flow with a 8-year weighted average lease term, triple-net commercial leases with embedded annual rent escalations and diversified healthcare tenancy. Positioned within a walkable live-work-dine district supported by essential-employment density and sustained institutional capital investment, the 701 benefits from Magnolia Village office vacancy of approximately 5% versus roughly 18% across the broader DFW Metroplex.
Purpose-built in 2021 and integrated into an experiential urban environment that supports tenant retention and recruitment, The 701 represents next-generation, differentiated, mixed-use office exposure - without commodity office risk – within a bifurcated market increasingly rewarding location, tenancy quality, and income durability.
Investment Highlights
DYNAMIC MIXED-USE DISTRICT IN THE HEART OF THE WEST FORT WORTH URBAN COMMUNITY
- Located in the dynamic Magnolia Village, a vibrant mixed-use district adjacent to someof the largest employment hubs in Fort Worth and the most affluent neighborhoods in Forth Worth with vacancy rates significantly lower than the metro average.
WAKABLE URBAN DISTRICT
- The 701 is located within Magnolia Village, a dynamic mixed-use neighborhood with major cultural, employment and entertainment destinations within a quarter mile and half mile radius from the property including the Medical District, Fort Worth Zoo, TCU (15-minute drive), and Downtown Fort Worth (10-minute drive).
HIGH TRAFFIC INTERSECTION
- The Property is located at the southwest corner of West Magnolia Avenue and Hemphill Street. West Magnolia Avenue is a major east west road connecting Interstate 35 to the Fort Worth Medical District and some of the highest income neighborhoods in Fort Worth including University West, Mistletoe Heights, and Colonial Hills, with Hemphill Street providing north south access to Downtown Fort Worth.
STRONG CREDIT TENANCY
- The Property is home to several large, high credit tenants including Texas Health Resources, VLK Architects and Midtown Medical Imaging, providing predictable and reliable income with annual escalations.
FASTEST GROWING MSA IN THE NATION
- Fort Worth is part of the DFW Metroplex, one of the fastest growing in the nation. As the nation’s 11th largest city, Fort Worth is hitting its stride and continues a robust growth trajectory. It is estimated that Ft. Worth’s population, currently ±1,008,000, will reach 1.2 million by 2040.
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