GRAND PRAIRIE, TX-First Industrial Realty Trust Inc. has scooped up its third deed this year in the Great Southwest Industrial District, spending close to the $1.9-million assessment for a 101,839-sf structure on 4.6 acres.
According to the Dallas Central Appraisal District, seller National Life Insurance Co. of Monteplier, VT acquired the building at 1905 110th St. in Grand Prairie in October 1988. It reportedly is one of the insurance company's last holdings in the region.
Don Stoffle, senior investment officer for Chicago-based First Industrial, tells GlobeSt.com that the structure, built in 1974, was 51% leased at sale time. He and the seller's broker, Keith Webster of Raven Capital Partners in Dallas, negotiated an all-cash sale.
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