HQ Building Purchased by Transwestern Investment Group: Former Bombay Co.

550 Bailey in Fort Worth

In Fort Worth, The former Bombay Co. headquarters building in Fort Worth has been purchased by Transwestern Investment Group, on behalf of Diversified International Partners.

CBRE Capital Markets reported the sale of 550 Bailey, a recently renovated, Class A office in Fort Worth’s Cultural District.

The seven-story, 122,828-square-foot asset was completely renovated in 2008 and once served as headquarters for Bombay, a furniture and home accessories retailer in Canada.

Gary Carr, John Alvarado, Eric Mackey and Robert Hill, with CBRE’s Dallas Office Investment Group, represented the seller.

“Investors were attracted to 550 Bailey because of its favorable balance of in-place cash flow and the quality of the building itself,” said Alvarado, Senior Vice President of CBRE. “Its location within Fort Worth’s Cultural District also offered a tremendous concentration of nearby amenities.”

Since 2008, approximately $6 million was spent to transform the former single-tenant corporate headquarters building into a, multi-tenanted office property.