Touting the patience of buyer and seller, Bradford Commercial Real Estate Services has finalized the sale of an office building in northeast Dallas after a three-year wait.
An unforeseen property issue at 1014 Main St. in Garland was discovered during the initial due diligence period, stalling the sale of one of the largest tracts in the historic downtown to hit the market in recent years. The high-profile office project, totaling 5,130 sf, is situated on a half-acre lot with 28 parking spaces, a bonus for an infill site.
“Neither side expected it to take this long. I’m just glad it’s closed,” says Kyle Espie, market director of Dallas-based Bradford Commercial Real Estate Services. He and Brian Pafford, executive vice president and managing partner, represented the seller, Exchange Resource Group LLC.
Involved for Life Inc.’s willingness to wait was the project’s prominent location and lot size in a bustling downtown with parking constraints, according to Espie. Bob Charles of Texas Premier Realty LLC represented the buyer, who financed the acquisition through Veritex Bank.
“The asset sold for really close to the original price despite the delay,” Espie says. “We actually had several back-up offers because of this property’s location.”
The class B office building, with a Walk Score of 72, is situated between 10th and 11th streets with retail, restaurants and a transit stop within walking distance. Built in 1985, the structure was fully renovated in 2021.
Involved for Life, a Dallas-based women’s healthcare ministry, is planning to occupy the building in May, which will serve as a regional office. The interior features a spacious lobby, six private offices, conference room, break space, restrooms and storage area.
NORTH TEXAS SALE
Involved for Life Inc. has acquired a 5,130-sf office building on 0.49 acres at 1014 Main St., Garland, from Exchange Resource Group LLC. Brian Pafford, executive vice president of Bradford Commercial Real Estate Services, and Kyle Espie, market director, represented the seller. Bob Charles of Texas Premier Realty LLC represented the buyer.
NORTH TEXAS LEASES
JV Plastics Inc. has renewed 14,030 sf of industrial flex space in Forum Industrial Park, 2721 S. Great Southwest Parkway, Grand Prairie. Jason Finch, senior vice president of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord, Forum EPA LLC, in the direct deal.
Olicon Inc. has leased 4,801 sf of office warehouse space in Westwood Business Park, 1801 Royal Lane, Farmers Branch, from PRE Westwood LLC. Jason Finch, senior vice president of Bradford Commercial Real Estate Services, represented the landlord. Zah Atkinson of CSE Commercial Real Estate represented the tenant.
Mobilesquare Inc. has renewed 4,380 sf of office/warehouse space in Westwood Business Park, 1801 Royal Lane, Farmers Branch. Jason Finch, senior vice president of Bradford Commercial Real Estate Services, represented the landlord, PRE Westwood LLC, in the direct deal.
Scott Wissel Personal Training has renewed 1,660 sf of retail space in Cross Timbers Village, 4251 Cross Timbers Rd., Flower Mound. Leigh Richter, executive vice president of Bradford Commercial Real Estate Services, and Paul Richter, vice president, represented the landlord, HG Candlewood LLC, in the direct deal.
Bradford Commercial Real Estate Services/CORFAC International is a full-service real estate company based in Dallas with an annual transactions volume exceeding five million square feet. The company manages and leases more than 20 million square feet, valued at $300 million, in North Texas for its strategic partners.
