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FORT WORTH-A 129,000-sf, solid class B office building has ended a long run on the sales market in a trade to a pair of Midland investors with a multi-tenant repositioning plan for a structure with a 27-year history as a single-tenant property.

Oil and gas investors Dale and Cary Brown put up the top offer and the one closest to the $6.5-million ask for 300 Burnett St., positioned on the west side of the Fort Worth CBD, Jack Huff, principal in NAI Stoneleigh Huff Brous McDowell of Fort Worth, tells GlobeSt.com. Built in 1976 for the Millers Insurance Co., the building houses its successor company, INSpire Insurance Solutions Inc., which emerged last year from a bankruptcy that brought a downsizing to 30% of the structure. Seller IIS Realty Ltd. put the property on the sales market in September 2002 after owning it for four years rather than undertake a repositioning to multi-tenant, according to Huff.

INSpire Insurance, now owned by CGI of Canada, struck a long-term lease for its longtime address, says Huff, who along with NAI’s Kyle Poulson brokered the sale for the seller and now hold the listing for the buyer. Huff says a new tenant could be signed within 30 days to lift occupancy to 50%. As for the balance, the well-known NAI team is prospecting for more names for the building directory.

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