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Second Time's the Charm on Industrial Property Buy

GARLAND, TX-Westmount Realty snags the 1M-SF Garland Business Park seven years after originally offering for it. The company owns a similar property in North Carolina and wants more.

By Amy Wolff Sorter | Updated on June 29, 2012

GARLAND, TX-Westmount Realty’s buy of the former 1.13-million-square-foot Fleming Cos.‘ property is a good example of second-chance success. The Dallas buyer had its eye on the industrial property for several years, and even made an offer on it in 2005 when then-owner Grocers Supply had it on the market.

Ultimately, Angelo, Gordon & Co. of Santa Monica, CA ended up with the Garland Business Center at 2600 McCree Rd. After s seven-year hold, the SoCal buyer sold the industrial property, which fronts Interstate 635, to Westmount Realty, which will reposition the asset as Garland Logistics Park.

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