Real Deals: Insurance firm buys 4-building site in White Settlement

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Arrington Outdoor Advertising LP has sold a four-building office project in northwest Tarrant County to a local insurance agency.

The buyer, Lew Gil-Moore Cos. LLC, is planning to occupy the only vacant building in the multi-tenant complex at 800 Jim Wright Freeway, White Settlement.

Key to the sale is the property’s visibility from Loop 820 and an existing freeway-fronting monument sign that will soon display the insurance agency’s name.

“It provides high visibility for his business and is a good investment,” said Casey Tounget, an associate with Coldwell Banker Commercial Advisors DFW. He and Theron Bryant, a CBC Advisors DFW principal, represented the seller.

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The four buildings total 9,180 square feet. They were built as model homes and later served as a church campus before being repurposed to a multi-tenant asset under Arrington Outdoor Advertising’s watch. The seller did carve out a pad site for future use.

Lew Gil-Moore will occupy the project’s smallest building, totaling 1,372 square feet. The other structures are leased to StubGroup Advertising (3,654 square feet), Therapy on Demand (2,199 square feet) and UBuildIt (1,895 square feet).

Brian Tobey of the Makens Co. represented the buyer.

“The success was finding the right buyer,” Tounget said. “An owner-user is the perfect fit for this kind of complex.”

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SALE

Marcus & Millichap has announced the sale of Aledo Crossing, an 11,185-square-foot retail property located in Aledo, according to Tim A. Speck, first vice president/district manager of the firm’s Dallas office.

Vincent Knipp, senior vice president investments, and Tim Lepore, associate, in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, also a private investor, was also procured by Knipp and Lepore.

“The results of our marketing campaign produced multiple full-price offers,” said Knipp. “Investors saw value in Aledo Crossing’s new construction and the potential for growth in the surrounding area.”

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Aledo Crossing is located at 405 FM 1187 South in Aledo.

CVS Pharmacy, a 13,050-square-foot net-leased property located at 1201 North Beach St. in Fort Worth, was sold to a private investor and procured by Vincent Knipp at Marcus & Millichap.

Whataburger, a 2,538-square-foot net-leased property located at 1120 West Pipeline Road in Hurst, was sold to a private investor. Vincent Knipp and Ryan Wolf of Marcus & Millichap’s Dallas office had the exclusive listing to market the property on behalf of the seller, a private investor. Knipp and Wolf also procured the buyer.

LEASES

The Joint Chiropractic has leased 1,253 square feet of retail space in The Shops at Timberland Crossing, located at the intersection of Timberland Boulevard and North Beach Street, Fort Worth, from NewQuest Properties. Josh Friedlander of NewQuest Properties represented the landlord. Gordon Atkinson of CBRE represented the tenant.

Valliance Bank leased 2,794 square feet at 777 Main St. in Fort Worth. The landlord was represented by Transwestern’s Whit Kelly. The tenant was represented by Sean Dalton at Younger Partners.

Motivating Graphics has leased 360,000 square feet at Alliance Westport 19, 1624 Intermodal Parkway in Haslet. Reid Goetz, Tony Creme and Steve Aldrich of Hillwood-Alliance Texas represented the landlord.

Biagi Bros has leased 179,750 square feet at 605 110th St. in Arlington. Reid Goetz, Tony Creme and Steve Aldrich of Hillwood-Alliance Texas represented the landlord.

King B Antique Market has leased 51,093 square feet at North Hills Village, 7520-7656 NE Loop 820 in North Richland Hills. Jordan Cluff of Woodcrest Capital LLC represented the landlord.

WeWork has leased 47,714 square feet at Clearfork Phase I, Building A1, 5049 Edwards Ranch Road in Fort Worth. Cannon Camp of JLL-Dallas represented the landlord.

Source North America Corp. has leased 42,350 square feet at Prologis GSW 27, 415-417 113th St. in Arlington. Mark Graybill and Colton Rhodes of Lee & Associates-Dallas represented the landlord.

Skyline Sector 5 has leased 40,576 square feet at GSW Distribution Center 29, 415-417 113th St. in Arlington. Jim Ferris of Bradford Commercial Real Estate represented the tenant. Mark Graybill and Colton Rhodes of Lee & Associates-Dallas represented the landlord.

Snap Kitchen Investments LLC has leased 29,751 square feet at Riverpark Business Center, Building A, 15600 Trinity Blvd. in Fort Worth. Michael Spain of Bradford Commercial Real Estate Services-GSW Office represented the landlord.

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