Press Releases
Marcus & Millichap Facilitates Sale of Long-Standing Bar and Restaurant Property in Fort Worth
January 28, 2025
FORT WORTH, Texas, Jan. 28, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 23,639-square-foot, two-story bar and restaurant property at 611 Houston Street in downtown Fort Worth, Texas. The property’s long-term tenants, The Library Bar and Pete’s Dueling Piano Bar, have occupied the space for more than two decades.
“The combination of long-term tenants and a strategic downtown location attracted significant investor interest for this asset,” said Joe Santelli, first vice president investments in Marcus & Millichap’s Dallas office. "We’re experiencing a tremendous amount of investor activity in downtown Fort Worth as we continue to see the progression of major developments take shape. Downtown offers the unique opportunity to acquire irreplaceable properties such as this, for investors looking to preserve the architectural integrity of the area and also strengthen the economic impact of the submarket.”
Santelli exclusively marketed the property on behalf of the seller, a private Texas-based investment group and procured the buyer, also a private local investment group.
The subject property, originally built in 1939, is situated on a 0.17-acre parcel at the hard corner of Houston Street and West 6th Street in downtown Fort Worth, Texas. It includes a unique 8,100-square-foot basement with potential for future redevelopment. Positioned in a high-traffic area near Sundance Square and the Fort Worth Convention Center, the asset benefits from significant foot traffic and proximity to major economic drivers.
“The combination of long-term tenants and a strategic downtown location attracted significant investor interest for this asset,” said Joe Santelli, first vice president investments in Marcus & Millichap’s Dallas office. "We’re experiencing a tremendous amount of investor activity in downtown Fort Worth as we continue to see the progression of major developments take shape. Downtown offers the unique opportunity to acquire irreplaceable properties such as this, for investors looking to preserve the architectural integrity of the area and also strengthen the economic impact of the submarket.”
Santelli exclusively marketed the property on behalf of the seller, a private Texas-based investment group and procured the buyer, also a private local investment group.
The subject property, originally built in 1939, is situated on a 0.17-acre parcel at the hard corner of Houston Street and West 6th Street in downtown Fort Worth, Texas. It includes a unique 8,100-square-foot basement with potential for future redevelopment. Positioned in a high-traffic area near Sundance Square and the Fort Worth Convention Center, the asset benefits from significant foot traffic and proximity to major economic drivers.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
