Ron Reese, NorthMarq's senior vice president and managing director in Dallas, tells GlobeSt.com that the 241,148-sf complex contains 25 tenants and is 90% occupied. The 1980s-era Post and Paddock Service Center is situated on 10 acres along a primary artery in the Great Southwest Industrial park. The center was one of two Dallas-Fort Worth holdings Post acquired in its 1997 merger with Columbus Realty Trust.
Reese and NorthMarq's Sasha Jovanovic arranged the financing package through a correspondent lender. The loan carries a three-year floating rate mortgage adjusted at 200 basis points over LIBOR.
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