Closed Off-Market: Heritage Trace Center in Fort Worth's Alliance Corridor

Field Commercial Real Estate closed the sale of Heritage Trace Center, a seven-building medical office and retail portfolio in north Fort Worth's Alliance corridor. The deal never hit the market. Field CRE sourced it off-market, represented the seller, a private ownership group, and brought the buyer, Fort Worth-based MainStreet Partners.

The Asset

Seven occupied, income-producing buildings with a multi-tenant rent roll in one of the fastest-growing corridors in DFW. A portfolio like this asks a buyer to underwrite seven stories at once, and the buyer pool for medical and retail combined is narrower than either one alone.

How We Ran It

Instead of a broad marketing campaign, Field CRE went directly to a buyer who understood suburban medical and service retail and could see the portfolio as one thesis. MainStreet saw it for what it was and moved with conviction.

While the sale was in motion, Field CRE also signed a 10-year lease on the center's second-generation restaurant space with an established operator opening its fourth location. Landing a long-term tenant before closing strengthened the asset the buyer was taking on and the value the seller was protecting.

What It Says About the Market

Private capital wants Alliance, and it wants medical and service retail with real income behind it. Owners holding that product have a buyer pool that will move quickly when the opportunity is presented the right way, and an off-market process can deliver certainty without the noise of a public listing.

The transaction was covered by the Dallas Business Journal and Fort Worth Inc.