The Knipp Wolf Net Lease Group of Marcus & Millichap Announces the Sale of a Dark Capital One in Fort Worth, Texas

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a dark Capital One in Fort Worth, Texas according to Tim A. Speck, division manager in the firm’s Dallas office.

Ryan Wolf, First Vice President Investments, and Vincent Knipp, Senior Managing Director Investments, in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller.

“An owner-user is typically going to pay more than anybody for this type of opportunity,” said Knipp. “We closed at a tremendous cap rate for a dark bank in today’s market.”

Although Capital One is vacating the premise at the end of the lease term, they are still obligated for approximately seven years of future rent.

According to Wolf, “The buyer was interested in acquiring this speculative property, and they were a perfect fit for this type of deal. With seven years left on the lease, there’s no pressing need for the owner to take action. The buyer had a great perspective on the property and made an aggressive offer.”

Capital One is located at 5721 North Tarrant Parkway in Fort Worth, Texas.