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11/13/2012

National Archives building in FW sold to real estate investment trust

FORT WORTH — The building that houses the Southwest Region Records Center has been sold to a Virginia based real estate investment trust.

Gladstone Commercial Corp. said it paid $20 million to buy the more than 205,000-square-foot facility at 1400 John Burgess Drive from K/H Lakewood Property, a limited partnership of Kessinger/Hunter & Co., in Kansas City, Mo.

K/H Lakewood developed the building for the National Archives and Records Administration. The Southwest Region Records Center moved in in November 2006. The federal government has a 20-year lease on the building. The building sits on 14.4 acres in the Carter Industrial Park.

The facility, east of Interstate 35W off Everman Parkway, stores federal records for agencies in Texas, Arkansas, Louisiana and Oklahoma, including U.S. district and bankruptcy courts and Internal Revenue Service documents.

Gladstone Commercial currently owns 79 properties.

_ Sandra Baker

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