Arlington, Texas – Tennessee-based Dominion Enterprises has sold a vacant office/warehouse in the Great Southwest Industrial District to Duratile Natural Stone LLC, a nearby tenant who latched onto an opportunity to own and expand in its longtime neighborhood.
The property – a 36,006-sf structure on 2.08 acres – fits right into the sweet spot of the spate of sales in the Great Southwest, where the availability of smaller single-tenant buildings is rapidly dwindling.
"There are a lot of these buildings getting scooped up in this cycle," says Joe Santaularia, market director of Bradford Commercial Real Estate Services. "For this property, the dealmakers were size, HVAC in the warehouse and its location right off Interstate 30."
Duratile is planning to expand the 5,900 sf of office/showroom space at its new location. It's anticipated the new shop will be ready to open in two months, driving relocation from 20,000 sf at 939 Avenue N in Grand Prairie.
The asset, located at 925 111th
St., Arlington, has been empty nearly two years due largely to city-related obstacles in expanding the 40-space parking lot. The structure, developed in 1965, features 16-foot clear heights, heavy power, three dock-high doors and two dock doors with levelers.
The seller's marketing team consisted of Santaularia, his father Kevin Santaularia, president and CEO of Dallas-based Bradford, and Michael W. Spain, senior vice president and managing partner. The local buyer was represented by Michael Stanzel of NAI Robert Lynn Co.
February 10, 2014