Bradford Sells Foreclosed Office Building in Dallas County

GRAND PRAIRIE, Texas – Bradford Commercial Real Estate Services has sold the foreclosed and re-tenanted Bardin Professional Center in Dallas County to a medical user who plans to occupy the one available suite. The two-story office building, totaling 9,358 sf, is located at 2304 W. Bardin Rd., Grand Prairie. Leigh Richter, executive vice president of Dallas-based Bradford, represented the seller of record, IM Bardin LLC, in a direct deal with the buyer, Nabua Property Holdings LLC. The property is situated directly behind Great Southwest Crossing's big box retail and restaurant row at an Interstate 20 exit. The neighborhood boasts Sam's Club and a Walmart Supercenter. It's also easily accessible to TX 360 and President George Bush Turnpike. Completed in 2003, the brick building's infrastructure includes a sprinkler system and 57 parking spaces. The lot is 0.67 acres. "We had a lot of interest because it's a small property, quality construction and well located," Richter says. "There is a lot of daytime traffic." At sale time, the building was 82.1% leased to five tenants. The sole vacancy, 1,676 sf, is second-generation medical office space with a large waiting room, nurses' station and six examination rooms with built-in fixtures. A renovation will soon get underway on the buyer's new office. "The space really met the buyer's needs," Richter says. "He was impressed with the location and quality of the building, which is in great shape." Richter had secured the foreclosure assignment in late 2016. The first task was to remove the former owner from the second floor of the nearly vacant building. Bradford vice president Erik Blais then began a re-tenanting campaign to rebuild the tenant roster, which now includes Transitions Counseling, Refreshing Times Counseling, Pinnacle Point Chiropractic, M&M Credit Solutions and Edward Jones. The full-service leases have staggered expirations through 2026. The sale was sealed with a 60-day look and 30-day close. "This property is well-suited for an owner/occupant who has the ability to self-manage the investment, which the buyer does," Richter says. "He bought a stable income stream."
May 3, 2019

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