ARLINGTON, Texas – Local developer Vaquero Ventures has acquired the vacant 35,417-sf Furniture Warehouse for a retail redevelopment in South Arlington's bustling Cooper Street corridor.
The redevelopment will launch with a retailer in hand for part of the space and another one negotiating for the balance of the soon-to-be-transformed warehouse at 3500 S. Cooper St. EKIM Partners of Fort Worth was the seller.
"During the feasibility phase, Vaquero asked me to market the balance of the space. I was surprised at the velocity of activity for the listing and the future redeveloped space," says Nick Talley, vice president of Dallas-based Bradford Commercial Real Estate Services, the deal's sole broker.
The 4.06-acre property, with fenced yard and storage buildings, drew at least a dozen tours and four offers, primarily sparking interest from the industrial sector. The property is located at a hard corner, close to Interstate 20 and Texas 360, and tucked into a stretch with big-box stores, small shops, restaurants and the 1.5-million-sf Parks at Arlington mall. The closing was held within 120 days of the property hitting the market.
"We had very high activity on this building," Talley says, "and surprised me that the retail redeveloper was the ultimate buyer of this property."
April 29, 2014