Texas' Frost National Bank has finally sold the holding after foreclosing on the tract nearly a decade ago, Robert O. Fulford II of Grubb & Ellis Co.'s Dallas office tells GlobeSt.com. The bank held firm at the $2.25 per sf asking price to keep the listing alive for three years and through six offers. "They just waited to get their price," he explains of a deal that closed just 45 days after a local physician came up with the winning offer. Fulford and Grubb & Ellis teammate, Gary V. Lindsey, represented Frost Bank.
The Arlington doctor, whose name is not being released, picked up acreage in a neighborhood with a HealthSouth outpatient facility and other medical office complexes. Using 200 W. Arbook LP as the buying entity, the doctor was represented by Jackie Le of the Arlington office for Judge Fite Century 21. Le says the doctor isn't ready to discuss the medical office building plans for the land, which is positioned near a heavily traveled intersection east of Collins Boulevard and north of Interstate 20.
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