For 1031 Exchange Buyers in North Texas
FORT WORTH – Crediting the recent interest rate cut as increased incentive, Bradford Commercial Real Estate Services has completed two acquisitions of light-industrial projects in Johnson and Parker counties for unrelated 1031 Exchange buyers.
The just-closed acquisitions are a three-building newly constructed complex, totaling 33,750 sf, at 7676 E. FM 917 in Alvarado and a 19,000-sf office/warehouse at 377 Savage Lane in Aledo. Bradford’s back-to-back closings are indicative of heightened interest in markets west of the Tarrant County line.
“The half point rate cut has brought more buyers to the market,” says Shane Benner, first vice president in the Fort Worth office of Dallas-based Bradford Commercial Real Estate Services. “There is a lot of demand for multi-tenant industrial buildings located in less-regulated areas, particularly those west of the Metroplex.”
Benner represented Blue Mound Business Park LLC in the Alvarado purchase. The new build, which was 67% leased, went under contract before the third structure was completed and closed on the heels of Feds cutting the interest rate.
“The timing of the Alvarado deal was perfect,” Benner says. “For a new build, the occupancy at the time of acquisition shows how good leasing momentum is in that market.”
The Alvarado property, totaling five acres, has enough land for the new owner to construct a fourth building. Jake Petrie of LanCarte Commercial represented the seller, 7710 FM Rd 917 LLC.
In the Aledo acquisition, Benner’s client, 4T4 Pack LLC, has scooped up a Triple Net-leased project situated in the path of the westward movement. The two-tenant building, featuring outside storage, was developed in 2017 on a four-acre tract. Cole Collins of Marcus & Millichap represented the seller, BAFA LLC.
“It’s a good time to buy into Aledo, given the planned development coming its way,” Benner says. “Not only is the market expanding, but the types of businesses that can occupy light-industrial flex space are almost unlimited.”
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