All that's being said about the 1031 Exchange buyer is that it's a Dallas-based investor. Eddie Liebman of Dallas-based Weitzman Group represented the seller, ORIX Capital Markets' Dallas office, to close a "best and final" offer for the community center positioned on the southeast corner of South Colony Boulevard and Main Street. Wade Gear of Clements-Gear Co. in Fort Worth brokered the purchase for the buyer and walked away with the leasing assignment. The asking price was just under $1 million for a center that Weitzman repositioned after ORIX foreclosed a few years ago.

Built in 1985, the center is fully leased to eight tenants, but at least one lease is coming due, Liebman tells GlobeSt.com. The only national in the center's line-up is a Pizza Hut to Go. The largest tenant is Mi Casa, a Mexican sit-down restaurant.

Liebman also sold a 3,100-sf convenience store on 21,200 sf of land at the intersection of Interstate 35 and Wintergreen Road in DeSoto. Jagob Partners was the seller; Noble Investments of Dallas, the buyer of the 13-year-old asset built for a 7-Eleven location. Liebman negotiated for the buyer while C. Easterwood of Coldwell Banker Commercial DFW handled talks for the seller.