Thursday, December 2, 2021
79 F
Fort Worth

Medical office in Arlington sold

🕐 2 min read

In an ongoing portfolio disposition, Lakeland West Capital LLC has sold a vacant multi-tenant office project in the heart of Arlington’s Interstate 20 commercial corridor.

The just-sold asset is a 26,552-square foot single-story building on 4.85 acres at 701 E. Interstate 20. Erik Blais, vice president in the Fort Worth office of Dallas-based Bradford Commercial Real Estate Services, represented the seller of record, Lakeland West Capital 32 LLC of Waco.

DUB C LP, a Fort Worth-based investment group, has won the deed with an all-cash offer, 25-day inspection and 15-day close. Ryan Matthews and Cannon Camp of JLL represented the buyer.

“We had a lot of interest on the leasing end, but Lakeland’s preference was to sell. This is a strong, well-capitalized buyer who offered all cash and a closing before year-end,” Blais says.

Lakeland West Capital has sold a second-generation medical office building developed in 1986 and renovated in 2006. The S-shaped structure features a portico and expansive barrel-vaulted ceiling with skylights. The property abuts Arlington Highlands, a regional open-air center with one million sf of lifestyle retail, restaurants and entertainment venues.

The new owner is planning to redevelop the class B office property, which has direct access to the I-20 frontage road. The site is zoned GC-APO (general commercial with airport overlay).

“The building wasn’t the driving factor, in my opinion. It was the site of almost five acres with I-20 access,” Blais says.

Lakeland West Capital retained Bradford to dispose of a five-property office portfolio in Dallas/Fort Worth earlier this year. The Arlington project is the second asset to sell.

The disposition package has been whittled to 4220 W. Green Oaks Blvd. in Arlington; Airport Freeway Plaza, 4200 and 4304 Airport Freeway in Fort Worth; and Offices at Bedford West, 221 Bedford Rd., Bedford.

“These are good assets in particularly attractive submarkets that work well for an owner-user, just like the two that we’ve already sold,” Blais says

Related Articles

Our Digital Sponsors

Latest Articles

Fort Worth Business Press Logo
This advertisement will close in
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate