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Wednesday, January 20, 2021

Real Deals: Handley Church of Christ sells site, buys another

HANDLEY CHURCH OF CHRIST

SELLS SITE, BUYS ANOTHER

The Austin Company Commercial Real Estate group announced March 19 that the Handley Church of Christ building, located at 3029 Handley Drive in East Fort Worth, has been purchased by the Stop Six Church of Christ for $1.1 million.

Company founder Jim Austin brokered the deal and longtime Austin Company team member Tim Williams was the agent in the sale of the 36,000-square-foot structure.

“This is a tremendous asset,” said Austin. “This church is over 100 years old, and we were so proud to represent Handley Church of Christ in getting this deal done.”

Upon the sale of the Handley Drive location, Handley Church of Christ purchased the Gateway School on Randol Mill Boulevard in East Fort Worth for its new church. That 7,000-square-foot building sits on three acres.

TTI DEDICATES, NAMES

NEW DISTRIBUTION CENTER

TTI’s new 800,000-square-foot distribution center in the Mercantile Center in Fort Worth has been named to honor the company’s founder and CEO, Paul Andrews.

During a company kickoff event for employees attending the annual TTI sales leadership conference, a dedication ceremony took place to unveil the name of TTI’s new distribution center: Andrews Distribution Center.

The distribution center expands the company’s warehouse capacity to more than 2 million square feet globally. TTI, founded in 1971, is the world’s leading authorized distributor specialist offering passive, connector, electromechanical and discrete components for industrial, military, aerospace and consumer electronics manufacturers worldwide.

SALES

STRIVE, a commercial real estate investment sales firm based in Dallas, announced the sale of Take 5 Oil Change, 401 Alta Mere Drive, in Fort Worth. The property received a full price offer within 24 hours of marketing and the all-cash transaction closed in less than 40 days.

Jason Vitorino of STRIVE represented the seller, a developer from St. Louis, Missouri. The buyer, a Florida investor, was represented by an outside broker who has closed multiple transactions with STRIVE in the past. Additional terms of the sale were not disclosed.

Comanche Trail Apartments, an eight-unit apartment property located at 7300 Comanche Trail in Lake Worth, has been sold, according to Kyle Palmer, vice president/regional manager of Marcus & Millichap’s Fort Worth office.

Associate Trey McGhin had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, an out-of-state private investor, was operating within a 1031 tax deferred exchange. The buyer intends to continue renovating the units and has a long-term hold strategy for this investment.

LEASE

Niles Building Products Co. has renewed 12,400 square feet of warehouse space at 609 Avenue R, Grand Prairie. Michael W. Spain and Jim Ferris of Bradford Commercial Real Estate Services represented the landlord, DCT Industrial Trust Inc., in the direct deal.

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

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