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06/21/2013

West Fort Worth office building sold to partnership

SkyWalker Property Partners teams with the Caffey group to buy Atrium Center office building on Camp Bowie Boulevard.

Arlington-based SkyWalker Property Partners and the Caffey Group have bought the 50,686-square-foot Atrium Center office building on Camp Bowie Boulevard in west Fort Worth.

The Caffey Group, a project management and consulting firm in the oil and natural gas industry, will relocate in September from 309 W. Seventh St. in downtown Fort Worth to the building, 8851 Camp Bowie West, and lease 10,419 square feet of space. Caffey Group has an option to buy the three-story building.

Mark Caffey, the Caffey Group’s CEO, and Marty Oakes, chief financial officer, are original investors in the Hangover Opportunity Fund, a real estate investment fund led by Gary Walker, SkyWalker Property’s president.

The building is being renamed Atrium West, the buyers said. The building is 58 percent leased, but will jump to 78 percent when Caffey moves in. Its largest tenant is the city of Fort Worth's engineering department, which occupies the entire 16,141-square-foot third floor.

“We'd always talked about owning our own building,” Oakes said. “It made sense to partner with someone we knew.”

Theron Bryant with SCM Real Estate represented SkyWalker Property. Jack Clark with Red Oak Realty represented the seller, Hwy 80 Capital LP.

The new owners said they will spend $100,000 on building upgrades.

_ Sandra Baker

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