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Monday, April 12, 2021

Rea; Deals: ARLINGTON’S BARDIN PLACE SOLD TO DALLAS COMPANY

ARLINGTON’S BARDIN PLACE

SOLD TO DALLAS COMPANY

CBRE has announced the sale of Bardin Place, a 420,550-square-foot retail center in Arlington. Dallas-based Vista Property Co. purchased the center from Brixmor Property Group for an undisclosed price.

Bardin Place is just south of Interstate 20 at the northwest corner of South Cooper Street and Bardin Road, is a grocery-anchored power center located in the retail epicenter of Arlington. The center is 99.8 percent leased to tenants including new-to-Texas grocer WinCo, Hobby Lobby, Ross, Hemispheres and Dollar Tree.

“The buyer was attracted to the grocery anchor, the underlying real estate and the strong anchor sales within Bardin Place,” said Chris Gerard, senior vice president for CBRE. “Vista Property Company has been strategically acquiring well-located shopping centers and Bardin Place gives Vista’s organization a large, well-performing center in the middle of one of the largest MSA’s in the country.”

Gerard, Chris Cozby and Blaine Dozier of CBRE National Retail Partners represented the seller in the transaction.

APARTMENT FINANCING

Holliday Fenoglio Fowler LP announced the financing for Villa Lago, a 204-unit, Class A garden-style apartment community at 8201 Boat Club Road in northwest Fort Worth.

The HFF team worked exclusively on behalf of the borrower, Venterra Realty, to place the seven-year, fixed-rate loan with a life company lender at an interest rate of 4.48 percent. Loan proceeds were used to refinance existing debt.

Completed in 2008, Villa Lago sits on an 11.5-acre site and consists of 10 two- and three-story residential buildings with units averaging 912 square feet.

The HFF debt placement team representing Venterra included managing directors Cortney Cole and Steve Heldenfels.

SALES

Three buildings totaling about 70,000 square feet on four acres at 6724, 6741 and 6750 Corporation Parkway in Fort Worth have been sold to PCI Corp. Pkwy. LLC. Gary Vasseur of Vasseur Commercial Real Estate Inc. represented the seller. The buildings were about 95 percent leased at the time of the sale.

Suffolk Property Partnership LLC purchased 1.36 acres at 3051 Suffolk Drive in Fort Worth from Tucker Properties-Suffolk LLC. Chris L. Stewart of Vasseur Commercial Real Estate, Inc. represented the buyer. Wynn Tucker represented the seller. Jeremy and Aaron Dietrich, owners of Dietrich Bros. Lawn Services LLC, purchased the site for their new office/warehouse facility.

LEASES

Air-Kraft Mechanical LLC leased 5,600 square feet of space at 506-508 Alvord Ave. in Fort Worth for an office/warehouse. Air-Kraft works on commercial refrigeration units. Chris L. Stewart of Vasseur Commercial Real Estate Inc. represented McDonald Enterprises Inc., the landlord.

Mr. Jim’s Pizza leased 1,400 square feet of space at Great Lakes Center, 2840 Highway 157 in Mansfield. Jon McDaniel of Robert Lynn/NAI Co. represented the landlord, Robert Suarez of Mansfield. Natalia Singer of Henry S. Miller Brokerage represented the tenant.

Send real deals to Robert Francis at rfrancis@bizpress.net

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