DALLAS – Bradford Commercial Real Estate Services has sold the first of seven properties in a portfolio disposition, inking an off-market transaction with an all-cash buyer for a 38,500-sf warehouse in Lone Star Business Park.
The just-sold warehouse is situated on 1.89 acres at 1900 Lone Star Dr. in Dallas, with easy access to Interstate 30, the I-35 split and downtown Dallas. The buyer, an affiliate of Dallas-based private equity firm Stonelake Capital Partners, has hired Bradford to lease and manage the property.
The Lone Star holding is the only one in Dallas. Start to finish, the transaction was closed within 60 days. Properties also are for sale in Amarillo, Austin, Houston, Lubbock, Odessa and San Antonio.
The Dallas property has one tenant, who is slated to vacate May 1. The single-story building contains 35,124 sf of warehouse space and 3,376 sf of office area, with a full sprinkler system, 23-foot clear height and six loading docks. The property also features ample parking as well as an outside storage area.
“We knew it would sell quickly. A building of this caliber in this size wouldn’t sit long in any DFW market because there simply aren’t that many of them available. It’s a good building in a hot market,” says Joe Santaularia
, first vice president of Dallas-based Bradford. He and colleague Brock Wilson represented the seller, 6 Brothers Realty Ltd., in the direct deal.
February 23, 2018