{"id":1004157517,"date":"2016-10-31T06:29:30","date_gmt":"2016-10-31T14:29:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004157517"},"modified":"2020-04-12T22:57:05","modified_gmt":"2020-04-13T06:57:05","slug":"stan-johnson-closes-sale-of-texas-medical-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stan-johnson-closes-sale-of-texas-medical-center\/","title":{"rendered":"Stan Johnson Closes Sale of Texas Medical Center"},"content":{"rendered":"

By Carmen Horghidan\u00a0<\/em><\/p>\n

\"Midtown<\/a>

Midtown Medical Office Building, 900 Jerome St., Fort Worth, Texas<\/p><\/div>\n

Fort Worth, Texas<\/strong>\u2014Stan Johnson Co.<\/a>\u00a0has recently closed\u00a0the sale of a multi-tenant medical office building in Fort Worth, Texas. Ridgeline Capital Partners<\/a> sold the 57,404-square-foot Midtown Medical Office Building to Roque Properties for $19.2 million.<\/p>\n

The company represented both the seller and the buyer in the transaction. Toby Scrivner, Jeff Matulis, Grant Wilkins and Colin Cornell of the Healthcare Net Lease Group of Stan Johnson Co. represented the seller.\u00a0The team received multiple offers and narrowed it down to two potential buyers, a 1031 investor and an institutional buyer. The final price represented a sales cap rate with 75-100 basis points over the market.<\/p>\n

\u201cIn the end it was a major win for our client. They had purchased the building a year before the sale had occurred and achieved a very high return on their investment,\u201d said Wilkins in a prepared statement.<\/p>\n

Built in 2013, the facility is part of a mixed-use development with a hotel and restaurants located on site. The four-story building is situated at 900 Jerome St., at the gateway to the Medical District, home to Tarrant County’s five major hospitals and other independent clinics. Furthermore, the property is adjacent to the Plaza Medical Center and less than a mile from the Texas Health Harris Methodist Hospital and the Baylor All Saints Medical Center at Fort Worth.<\/p>\n

Image courtesy of\u00a0Stan Johnson Co.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 57,404-square-foot building was 95 percent leased at the time of the deal.<\/p>\n","protected":false},"author":1002,"featured_media":1004157526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21783,21742,21747],"tags":[],"class_list":["post-1004157517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"\nStan Johnson Closes Sale of Texas Medical Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/stan-johnson-closes-sale-of-texas-medical-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stan Johnson Closes Sale of Texas Medical Center\" \/>\n<meta property=\"og:description\" content=\"The 57,404-square-foot building was 95 percent leased at the time of the deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/stan-johnson-closes-sale-of-texas-medical-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-31T14:29:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-13T06:57:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Midtown-Medical-Office-Building-900-Jerome-St.-Fort-Worth-Texas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1067\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Carmen Horghidan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stan-johnson-closes-sale-of-texas-medical-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/stan-johnson-closes-sale-of-texas-medical-center\/\",\"name\":\"Stan Johnson Closes Sale of Texas Medical Center - 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