Home Depot Trades in 1031 Exchange

Broe recently completed the exchange of the retail building for $19.5 million.

DALLAS—With limited available retail space in the area, the continued strong demand from tenants continues to push rental rates higher and fuel investor demand for all types of commercial property. Specifically, well-located properties with strong credit tenants and attractive lease terms continue to find favor with investors.  

An example of that type of property is a retail structure in one of the most populated regions in Texas. Broe Real Estate Group acquired a retail building and an adjacent office building at 2800 Forest Ln. in 1998. In 2014, the property was subdivided to sever off the office building and a Home Depot lease was subsequently restructured to extend the lease term, creating an attractive triple net leased retail property. Broe recently completed the sale of this 163,545-square-foot retail building for $19.5 million in a 1031 exchange.