"We got a good deal," says John Brewer with Henry S. Miller Commercial in Dallas. "It's a very usable building. I don't consider it functionally obsolete." Key to the decision to buy is the 11-acre fenced tract at 2302 Pacific Ave., he adds.
Brewer tells GlobeSt.com that the Arlington buyer is now deciding whether to put one of his businesses, Komplete Packaging Co. or DFW Logistics, into the vacant building. Both now lease space at 2020 Singleton Blvd. in Dallas. A full-building tenant also has been kicking tires, but serious talks have yet to begin, the buyer's broker says. In addition, he's not ruling out a property flip.
"He's a value buyer and a very entrepreneurial investor who bought it," Brewer says, "and he's not sure what he's going to do with it."
According to Brewer, Don Valk of Dallas sold the holding in a seller-financed deal with buyer of record, Komplete Development III LLC. Vic Helton, formerly with Valk's Assured Group in Dallas, represented the seller.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
