DALLAS – Southern California-based Anything Liquid Manufacturing Inc. has acquired an 18,242-sf office/warehouse in the Mid-Cities, kickstarting a plan to relocate its headquarters and pharmaceutical operations to business-friendly Texas.
The just-bought project is located at 7370 Dogwood Park Dr. in Midway Industrial Park in Richland Hills. If all goes as planned, the relocation will be completed within two months.
"The acquisition is playing to the theme of companies moving to Dallas/Fort Worth to escape the high taxes and red tape of doing business in California," says Joe Santaularia, senior vice president and managing partner of Bradford Commercial Real Estate Services. He and Jason Finch, first vice president, represented the buyer.
The Texas newcomer is an online pharma company specializing in liquid dietary supplement manufacturing, sales and distribution domestically and internationally. Its products include generic and name brands.
Anything Liquid had the 1.19-acre site, which has direct access to TX 121, under contract roughly six months. Bob Scully and Brice Wells of CBRE represented the seller, Direct PrintIQ.
"It was an atypical closing period, but it went smoothly. The seller just needed time to find a new operations spot." Santaularia says.
The buyer is planning to retrofit the 1980s-era structure in the near future, hiring LGE Design Build's Dallas team for the undertaking. The single-story building's infrastructure includes heavy power, fully sprinklered interior and 19-space parking lot.
"It's nearly impossible to find a building this size in today's market," Santaularia says. "Owner-users have less product to choose from and end up paying a premium to buy."