The Crosby Industrial Park, which encompasses nearly 17 acres,carries an appraised value of more than $5.1 million. Wilson wasthe low-profile owner for 25 years, Tom Pearson, senior director ofCushman & Wakefield of Texas Inc., tells GlobeSt.com. Probablyfew, if any, at the Dallas County Central Appraisal Districtrealized the owner of record, Corleff Properties of Los Angeles,was actually a big-name star. "It just wasn't something people knewabout," Pearson says of the deal that sparked a bidding war more sofor its location than anything.

Eleven investors vied for the multi-tenant, fully leasedholding, built in 1971 by a California developer. "Even for the oldproduct, there was a lot of interest," says Pearson. "We pushed theprice pretty hard. It was a win-win deal for everyone." And thewinner was Crosby Valwood LP, which is planning a majorredevelopment of the complex, Pearson confirmed.

The acquisition brought an asset management change, withDallas-based Holt Cos. snagging the contract. The leasing agentcould not be reached to determine the magnitude of the up andcoming redevelopment. The grouping consists of a 161,692-sfbuilding at 1200-1210 W. Crosby Rd.; 99,198-sf structure at1300-1312 W. Crosby Rd.; and two 29,800-sf buildings at 1415-1421Hutton and 1418-1424 Dunn Dr.

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