ARLINGTON, TX—Lewis O'Donnell LLC has seized an off-market all-cash offer for a 13.8-acre tract with six buildings, leased to Builders FirstSource Inc., from Union Pacific Railroad Corp., its next-door neighbor in the Great Southwest Industrial Park.
Dallas-based Builders FirstSource has occupied the property since 1999 following a merger with Mayfield Building Supply Co. The property, located at 3403 E. Abram St., was listed with SCM Real Estate Services of Arlington, but it wasn't being actively marketed because the local seller was waiting on a renewal decision from its longtime tenant. Builders FirstSource also has an operation less than four miles to the north at 1750 Westpark Dr. in Grand Prairie.
SCM's president and founder Gary Walker, eyeing the sales potential, recognized that Union Pacific might be interested in the rail-served property due to the proximity to its major customer, GM, roughly 150 feet to the east, and the opportunity to expand its Arlington rail yard in the future. The railroad company already had plans in the works for a track renewal project throughout Arlington, including lines in the immediate area of Lewis-O'Donnell's property.
"Gary started thinking out of the box and we went from there," says Renee Efimoff, SCM's senior leasing agent.
Omaha-based Union Pacific put an offer on the table shortly after Walker contacted its real estate manager, closing the deal in less than two months. "The buyer's offer was close enough to the seller's expectation that it was a quick transaction," Efimoff says.
The property, zoned industrial manufacturing, is situated at the hard corner of Abram Street and Great Southwest Parkway. It is east of Texas 360 and south of Interstate 30.
Builders FirstSource's main building, built in 1955, totals 77,845 sf. The complex also includes a 7,952-sf vehicle maintenance building, also built in 1955; 5,867-sf hardware building, constructed in 1984; three warehouses, developed in the 1980s and 1960s, totaling 46,975 sf; and three storage sheds, totaling 31,358 sf.
The main building was developed by Sears, Roebuck & Co. as its first store in Arlington. The Illinois-based chain subsequently parceled off a 2.1-acre tract with an 18,580-sf building at 3231 E. Abram St., currently Sears' parts and service center for the region.
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