The seller's $7.4-million note, with significant time left on the pre-payable penalty, is held by Wells Fargo Bank, Ronald Hebert with Marcus & Millichap in Dallas tells GlobeSt.com. The closing price is closely guarded, but he did say the class B office building at 15110 N. Dallas Parkway sold at an 8.6% cap rate and went for more than the $10.4-million assessment.

The buyer used proceeds from a multifamily property in Southern California to acquire his first Texas property, getting a tenant with a master lease through 2012. "It's an absolute triple net lease," says Hebert, who steered the sale along with Michael Lawrence in Marcus & Millichap's Newport Beach, CA office. In turn, the bus company subleases retail space to Bank of America, rooftop cell phone towers to AT&T Wireless and billboard space.

Hebert says Greyhound's name on the lease presented an obstacle for some would-be buyers, but in the end there were seven lined up to take the three-acre deed from Clayton Investment Co. The SoCal buyer had the highest offer on the table.