Tuesday, October 26, 2021
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Prime Arlington retail block sold to private investor

🕐 5 min read

Fort Worth Business obtains some of its Real Deals content through a partnership with Xceligent Inc., a commercial real estate research firm.

A developer has sold the 300 block of East Abram St. in Arlington, the block housing Twisted Root Burger Co., Flying Fish restaurant and other tenants, to a private investor.

Philip Levy of Marcus & Millichap Real Estate Investment Services’ Fort Worth office marketed the 14,425-square-foot property.

The building is 100 percent occupied; other tenants include CearnalCo Real Estate, J. McIntyre Interiors and Hooligans Pub.

INVESTOR SELLS MOTOR BANK

BUILDING IN ARLINGTON

The Chase Motor Bank at 745 W. Lamar Blvd. in Arlington has been sold to a private investor, according to Chris Gainey of Marcus & Millichap Real Estate Investment Services’ Fort Worth office.

Marketing the property on behalf of the seller, also a private investor, were Gainey and Philip Levy, also with Marcus & Millichap’s Fort Worth office.

About 10 years remain on the lease, with two five-year options for renewal. The motor bank was built in 1982 and served as a motor bank to The American Bank of Arlington, which was then acquired by Chase. The lot size is 30,100 square feet.

ARLINGTON INVESTOR SELLS

WAXAHACHIE APARTMENTS

KD Real Property Investments LLC has acquired a 72-unit, Class A apartment complex in Waxahachie from a North Texas investor in an off-market transaction.

The seller, Mercury Metroplex Real Estate IV LLC of Arlington, had been considering putting its 99 percent-leased Bella Vita Apartments on the market when an offer surfaced through an introduction by Sam W. Pettigrew III, partner of Dallas-based Cantrell Co. & Partners.

“It was the only holding he had outside Arlington. I sold it to him two years ago so I thought he might be interested in selling,” Pettigrew said in a news release. “It worked out and I’m very pleased.”

The seven-building gated complex sits on 4.3 acres at 380 Solon Road in Ellis County.

FORMER KELLER DAYCARE SOLD

A 3,275-square-foot Keller building most recently used as a daycare business has been sold to an undisclosed buyer. The property is located one block east of U.S. Highway 377 at 113 Lorine St.

Overseeing sale negotiations were Scott Lowe of Vision Commercial Real Estate LLC and Phillip Samples of Alliance Commercial.

PIONEER VILLAS COMPLEX

IN ARLINGTON SOLD

Pioneer Villas, a 90-unit garden-style multifamily complex located at 200 W. Pioneer Parkway in Arlington, has been sold to Agorazo I LLC for an undisclosed amount.

The Greysteel Co.’s multifamily investment sales team led by Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss in Fort Worth served as exclusive adviser and agent to Katz Matlock Place LLC in the sale of the property.

The property consists of four efficiency units, nine one-bedroom units, 64 two-bedroom units, 12 three-bedroom units, and a single four-bedroom unit. Pioneer Villas was built in 1973.

“Pioneer Villas was the third property Greysteel has closed along Pioneer Parkway in the last eight months. We were able to attract multiple offers in this highly active and sought-after Arlington market,” said Banerjee. “This specific submarket of Arlington was particularly desirable to buyers due to its proximity to major economic drivers such as the University of Texas at Arlington, General Motors assembly plant and both AT&T Stadium and Globe Life Park.” – Betty Dillard

CASTLE NAILS TO OPEN

3 NEW D-FW LOCATIONS

North Fort Worth, McKinney and Grand Prairie can expect new Castle Nail locations after Scott Lowe of Vision Commercial Real Estate LLC completed lease negotiations for the retail outlets.

The Fort Worth location is at Heritage Trace Parkway and Interstate 35W, the McKinney location is at State Highway 380 and Stonebridge Road and the Grand Prairie location is at Camp Wisdom Road and Lake Ridge Drive.

Castle Nails operates more than 20 locations in Dallas-Fort Worth.

LEASES

Pure Barre fitness studio has leased 2,050 square feet at 3400 W. Seventh St. in Fort Worth. Gary Vasseur of Vasseur Commercial Real Estate Inc. represented the tenant. Rita Singleton of Haydn Cutler Co. represented the landlord, Boland Property Ltd.

Liberty Dollar has leased 2,626 square feet at Tiffany Park, 3415 S. Cooper St. in Arlington, according to Xceligent Inc. Bob Kent of Kent Realty represented the tenant and landlord.

Xerox Corp. has leased 74,500 square feet at Carter Industrial Park, Building 1 at 1101 John Burgess Drive in Fort Worth, according to Xceligent Inc. Todd Hubbard and Michael Newsome of NAI Robert Lynn represented the landlord.

Moysha Home Furnishings has leased 26,376 square feet at Northpoint Trade Center, Building III at 701 Eight-Twenty Blvd. in Fort Worth, according to Xceligent Inc. Eric Glusing of Strategic Realty Consultants represented the tenant. Nick Talley of Bradford Commercial Real Estate Services-Fort Worth represented the landlord.

1 Trade Logistics has leased 18,560 square feet at Northfield Distribution Center, 512 E. Dallas Road in Grapevine, according to Xceligent Inc. Rick Medinis and Tyson Erwin of NAI Robert Lynn represented the landlord.

EZ World Wide Express has leased 7,992 square feet at 1013-1031 Avenue M in Grand Prairie, according to Xceligent Inc. Kacy Jones and Steve Koldyke of CBRE-Dallas represented the landlord.

Pacific Architects & Engineers has leased 6,800 square feet at One Ridgmar Centre, 6500 West Freeway in Fort Worth, according to Xceligent Inc. Phil Sandlin and Christine Teagle of NavStar Commercial represented the landlord.

Sundek Overflow Warehouse has leased 4,266 square feet at Parkway Plaza, Building B, Avenue H East in Arlington, according to Xceligent Inc. Andrew Gilbert and Canon Shoults of Holt Lunsford-Dallas represented the landlord.

Monterey Energy has leased 3,000 square feet at DFW Corporate Park, Building 17, 2100 N. State Highway 360 in Grand Prairie, according to Xceligent Inc. Charles Lester of Charles Lester Realty Advisors represented the landlord.

Pruitt Auto has leased 2,400 square feet at 2350-2360 Blue Smoke Court North in Fort Worth, according to Xceligent Inc. Huck Newberry of The Newberry Company Inc. represented the landlord

Integrative Body Works & Massage has leased 1,750 square feet at 5913-5921 Lovell Ave. in Fort Worth, according to Xceligent Inc. Huck Newberry of The Newberry Company Inc. represented the landlord.

701 Industrial Ltd. has purchased a 51,055-square-foot office building at 8713 Airport Freeway in North Richland Hills from Ameritas Life Insurance Corp., according to Xceligent Inc. Jeffrey Day of Centra Partners LLC-Fort Worth represented the seller. Tom Purvis of Continental Real Estate represented the buyer.

Send real estate news to lgraham@bizpress.net

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