DALLAS – Marking its third sale in less than one month, Maxim Integrated Products Inc. has disposed of a 1.6-acre property with a longtime tenant in place on its North Dallas campus to a local limited liability company.
Maxim had a contract in hand for the 3,600-sf, single-story brick building at 4355 N. Beltwood Parkway in Farmers Branch within days of setting the property's price in the ongoing disposition. Part of the appeal is the tenant, American Medical Response Ambulance Service Inc., who's poised to negotiate a new lease to hold onto its longtime location.
"If the tenant moves out, the buyer could occupy it," says Leigh Richter, senior vice president of Dallas-based Bradford Commercial Real Estate Services. "It's a very desirable property for a user." The property, fenced on three sides, also includes a 5,760-sf vehicle servicing area and 720-sf utility building.
Matt Mittendorf of the Certus Group represented the buyer, 4355 Beltwood Parkway LLC, a neighboring company that had been keeping its eye on the Maxim disposition for the right property to hit the market.
"We had a lot of interest in this building. Within a day or two of pricing it, we had an offer," says Richter, who partnered with Jason Miller, Bradford's market director, to close the deal.
California-based Maxim inherited the 45-acre, 13-building campus in 2001 when it acquired Dallas Semiconductor Corp. The flex buildings, developed in the 1970s and 1980s, housed Maxim's research and development functions, which moved last year to a brand-new 138,000-sf class A office building on 18.5 acres of the campus.
January 14, 2013