The former headquarters in Fort Worth of Lhoist North America, a mineral and lime producing company, has been sold by Chemical Management Co.
The five-building office property at 3700 Hulen Street, which sits on 2.6 acres, was purchased by 3700 Hulen LLC. The buildings total 45,118 square feet in Fort Worth’s West/Southwest submarket.
According to JLL research, that submarket had one of the highest office absorptions in the fourth quarter of 2016—a good sign for the building’s new owner. Additionally, the vacancy rate for the area is 9.3 percent, the second lowest of all the Fort Worth submarkets. The area’s average asking rent, according to JLL, is about $24.52 per square foot.
“Its location, the accessibility to major highways and roads, and its vicinity to amenities and entertainment make it an intriguing property for prospective tenants,” Pat McDowell, JLL managing director, said in a statement. He and Matt Montague represented Chemical Management.