DALLAS – After decades of in-house leasing, a local family office has selected Bradford Commercial Real Estate Services to lease its Tarrant County holdings, including a bank building developed in the mid-1980s by the investment group.
Bradford's Leigh Richter, executive vice president, and Erik Blais, vice president, will oversee leasing for the 64,646-sf Legend Bank Building in North Richland Hills and 21,648-sf Colleyville Plaza in Colleyville. Occupancy is 52% and 65%, respectively.
"It was good timing on my part when I inquired about the properties," Richter says. "These are good assets with long-term ownership, which is extremely beneficial."
The four-story Legend Bank Building, located at 6851 NE Loop 820, is facing a repositioning. Its largest vacancy is the 15,681-sf fourth floor, which will be partially demised and prepped for tours.
"We need to take this asset to the next level and figure out the best repositioning strategy," Richter says, noting the investment group also owns vacant adjacent land.
The Legend Bank Building is situated on slightly more than three acres with an unobstructed view of Loop 820. The financial institution is the anchor tenant in 5,800 sf on the main floor.
The family office has owned Colleyville Plaza at 5005 Colleyville Blvd. since 2010. There is one vacancy, totaling 4,832 sf, which was most recently occupied by a title company.
"It's nicely built-out space and move-in ready," Richter adds.
The 3.3-acre Colleyville Plaza is a mix of retail and office space, of which about 50% is a multi-tenant executive suite. A relatively new tenant, NAPA Thai Asian Cuisine, occupies 4,540 sf. Co-tenants include a salon and fitness studio.
Bradford Commercial Real Estate Services is a full-service commercial 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.