Arnold Stone, taking the asset in as-is condition, struck a direct deal for the vacant warehouse on 7.1 acres at 5703 Crawford Lane. The 21-year-old building was being marketed for sale at $28 per sf or $3.25 per sf, gross, for a lease, says Ryan Wood with NAI Huff Partners in Fort Worth.
"We had several offers and several deals that we were negotiating," NAI's Walter Floyd tells GlobeSt.com. "The first in line at the finish line wins." The NAI team also included Robert Sawyer.
Wood says Arnold Stone also has a location in nearby Kennedale and operates quarries in Blum, Tolar, Millsap and Abilene, all in Texas. It also has a cast stone operation at 4808 Century Dr. in Forest Hill and its headquarters in Celina, north of Dallas. Floyd says negotiations went full circle in a couple weeks after Arnold Stone's owners cold called the team about the property, which has been owned since 2004 by GSL Constructors Ltd. of Houston via several partnerships.
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