Fort Worth, Texas – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Wells Fargo (Ground Lease), a 3,966-square foot net-leased property located in Fort Worth, Texas, according to Bill G. Jordan, regional manager of the firm’s Ft. Worth office.
Vincent Knipp, Chance Hales and John Glass, investment specialists in Marcus & Millichap’s Ft. Worth and San Francisco offices, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a partnership, was also secured and represented by Knipp, Hales and Glass.
Wells Fargo (Ground Lease) is located at 8620 North Beach Street in Fort Worth, Texas.
This absolute triple-net ground lease is situated on an out-parcel to a Walmart Supercenter. There were approximately 13 years remaining on the lease with 10 percent rent increases every five years. The lease is guaranteed by Wells Fargo Bank, N.A.