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Business Real Deals: The return of Sam's Club

Real Deals: The return of Sam’s Club

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THE RETURN OF SAM’S CLUB

Sam’s Club is opening a second e-commerce fulfillment center in Fort Worth in a familiar location: a former Sam’s Club retail site at 2440 SE Loop 820 on the south side of town.

The company transformed the brick-and-mortar store into a 130,000- square-foot fulfillment center. The center’s grand opening was on Jan. 31, attended by the company’s

vice president of supply chain for SamsClub.com, Mohan Akella; the senior director of fulfillment for ecommerce, Bill Ball; and General Manager Rickey Ferguson. In celebration, the center made grants to the Fallen Police Officers Association, Fort Worth Fire Service Resource Network and the Tarrant Area Food Bank.

Sam’s Club expects to hire for more than 40 positions at the new center including managers, loaders, pickers and quality assurance.

SALES

A 4,550-square-foot two-tenant retail property leased to Domino’s Pizza and a dentist at 3380 Long Prairie Road in Flower Mound has been sold.

Philip Levy, senior managing director for investments at Marcus & Millichap, represented the seller, a private investor. The sale was an all-cash transaction that closed in under 60 days.

Leuda May Historic Apartments, a 22-unit apartment property located in Fort Worth’s Near Southside, has been sold to a local individual who formed a syndication group, according to Mark McCoy, sales manager with Marcus & Millichap’s Fort Worth office.

Trey McGhin, member of the National Multi-Housing Group in Marcus & Millichap’s Fort Worth office, represented the seller, a Texas-based partnership. McGhin also secured the buyer, who intends to upgrade the interiors and freshen the exterior while maintaining the historic integrity of the property.

Leuda May Historic Apartments is located at 301-311 W. Leuda St. and 805 May St. It was built in 1925 and is on the National Register of Historic Places. It consists of five two-story buildings constructed with wood framing and a brick exterior. There are 22 apartments with nine floor-plans ranging from 400 to 1,400 square feet. Recent capital improvements include replacing the roofs, hardwood floors, window frames, areas of surface concrete and about 25 percent of the HVAC units.

Merryhill School, a 22,994-square-foot net-leased property located in Arlington, has been sold to an institutional buyer.

Th property was a private elementary school backed by a national operator, with five years remaining on the base term of the lease at the time of sale.

Chris Gainey, first vice president for investments in Marcus & Millichap’s Fort Worth office, and Philip Levy, senior managing director for investments, represented the seller, an out-of-state private real estate fund.

Local investor LFP Properties Inc. has acquired the 16,798-square-foot Village Square at 6400 Rufe Snow Drive in North Richland Hills in an off-market transaction.

The retail center is 56 percent leased and is shadow-anchored by Big Lots. Erik Blais, vice president of Dallas-based Bradford Commercial Real Estate Services, represented the buyer, who is planning to invest upward of $200,000 into modernizing the retail center. A stucco-and-stone facelift is in store for the center’s early 1980s façade. Landscaping and exterior lighting also will be upgraded. Committing to three- to five-year renewals at Village Square were Great Cuts, Pure Relaxation and NRH Martial Arts. There are six vacancies.

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

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