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Western Insurance Bldg. in Fort Worth Trades for Nearly $10M

NY Group Grabs 84,800-SF Office Property for $117 PSF
By Doug Rivas
December 9, 2008 | 6:34 AM

A group of investors traded the Western Insurance Building in Fort Worth for $9.95 million, or roughly $117 per square foot. Jericho, NY-based Navika Capital Group purchased the five-story, 84,831-square-foot office building with the intent to renovate and resell the property. The building at 5601 Bridge St. was constructed in 1986 in the East-Northeast Fort Worth submarket. Darrel Higginbotham of SCM Real Estate Services represented the buyers, Haridas Kotahwala and Naveen Shah of Navika Capital. Stephen Fithian of Sperry Van Ness and a member of the general partnership Keller Properties LP represented the seller in-house.

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