DALLAS—With limited available retail space in the area, the continued strong demand from tenants continues to push rental rates higher and fuel investor demand for all types of commercial property. Specifically, well-located properties with strong credit tenants and attractive lease terms continue to find favor with investors. An example of that type of property is a retail structure in one of the most populated regions in Texas. Broe Real Estate Group acquired a retail building and an adjacent office building at 2800 Forest Ln. in 1998. In 2014, the property was subdivided to sever off the office building and a Home Depot lease was subsequently restructured to extend the lease term, creating an attractive triple net leased retail property. Broe recently completed the sale of this 163,545-square-foot retail building for $19.5 million in a 1031 exchange. “We are pleased to have completed this transaction which represents the second leg of a true 1031 Exchange, wherein Broe acquired Oceanview Village Shopping Center , a 98,406-square-foot mixed-use development located in San Francisco and subsequently sold the Home Depot property to the same party,” said Doug Wells , CEO of Broe Real Estate Group. “This transaction represented a unique opportunity to exchange a stable asset at a good valuation for an attractive 'value-add' opportunity in a very strong infill location in a gateway city.” According to LoopNet , the subject property is comprised of 178,000 square feet of retail sales and warehousing, 24,000 square feet of retail garden center and a 52,000-square-foot office building that Broe still owns and is pursuing repositioning strategies for that component of the property. With the current lease rate of $0.49 per square foot per month, according to LoopNet, the subject property offers the security of the existing low lease rate and potential upside in the future. The property boasts a location adjacent to the Lyndon B. Johnson Freeway (Interstate 635). Wells tells GlobeSt.com: “It was an opportune time to reposition and sell. The strategy was to trade out of a Home Depot in a well-established location into a grocery-anchored center. The main point is we were able to take a low-yield asset and add value by repositioning the center. These are well-suited properties that met both parties' needs. We were simply trading one property for another.” DALLAS—With limited available retail space in the area, the continued strong demand from tenants continues to push rental rates higher and fuel investor demand for all types of commercial property. Specifically, well-located properties with strong credit tenants and attractive lease terms continue to find favor with investors. An example of that type of property is a retail structure in one of the most populated regions in Texas. Broe Real Estate Group acquired a retail building and an adjacent office building at 2800 Forest Ln. in 1998. In 2014, the property was subdivided to sever off the office building and a Home Depot lease was subsequently restructured to extend the lease term, creating an attractive triple net leased retail property. Broe recently completed the sale of this 163,545-square-foot retail building for $19.5 million in a 1031 exchange. “We are pleased to have completed this transaction which represents the second leg of a true 1031 Exchange, wherein Broe acquired Oceanview Village Shopping Center , a 98,406-square-foot mixed-use development located in San Francisco and subsequently sold the Home Depot property to the same party,” said Doug Wells , CEO of Broe Real Estate Group. “This transaction represented a unique opportunity to exchange a stable asset at a good valuation for an attractive 'value-add' opportunity in a very strong infill location in a gateway city.” According to LoopNet , the subject property is comprised of 178,000 square feet of retail sales and warehousing, 24,000 square feet of retail garden center and a 52,000-square-foot office building that Broe still owns and is pursuing repositioning strategies for that component of the property. With the current lease rate of $0.49 per square foot per month, according to LoopNet, the subject property offers the security of the existing low lease rate and potential upside in the future. The property boasts a location adjacent to the Lyndon B. Johnson Freeway (Interstate 635). Wells tells GlobeSt.com: “It was an opportune time to reposition and sell. The strategy was to trade out of a Home Depot in a well-established location into a grocery-anchored center. The main point is we were able to take a low-yield asset and add value by repositioning the center. These are well-suited properties that met both parties' needs. We were simply trading one property for another.”