GRAPEVINE, Texas – Georgia-based Alpha Insulation & Waterproofing Inc. has sold its 17,748-sf regional office building to HCCP 1010 East Dallas LLC following a bidding war among a half dozen owner-users jockeying for a spot in the DFW Airport submarket.
The one-acre property at 1010 E. Dallas Rd. in Grapevine has commanded top dollar after a six-week run on the market. The building’s size, location and limited inventory in its classification had triggered the high number of offers in such a short time span.
“We set our expectations high and over-achieved them due to the strength of the market. Due to the leverage we had, the buyer took the property as-is,” says Joe Santaularia, first vice president of Dallas-based Bradford Commercial Real Estate Services. He and Bradford’s Brock Wilson, senior vice president and managing partner, represented the seller of record, Grapevine V&S LLC.
Developed in 1987, the just-sold building has roughly 3,000 sf of office area, of which 1,000 sf is mezzanine space overlooking the warehouse floor. Other features include four dock-high doors, two drive-in ramps and an 18-foot clear height. Michael McGee of McGee & Associates represented the local buyer, who is planning to occupy part of the structure and lease the balance.
Alpha Insulation will be relocating in April to Lewisville, where it will be expanding and occupying newer space at 301 Leora Lane. The company’s regional office is one of 11 in the Southeast and South Central U.S
February 22, 2017