"We just found a solid buyer who liked the property and who was willing to come close to the offering," Robert Lamm of Dallas-based Henry S. Miller Commercial tells GlobeSt.com. The asking price was set at $2.8 million for Magnolia Village, a project delivering last year at the southwest quadrant of Denton Tap Road and the Texas 121 bypass. Lamm represented the seller, SCI Denton Tap Ltd., a merchant builder from Dallas. Johnson represented himself in the negotiations.
Lamm says a trio of offers went on the table for the center, which has Dental Management Strategies and Coppell Minor Emergency Center in 3,300 sf and 2,866 sf, respectively, as the lead tenants. Johnson the buyer also owns retail out-parcels in nearby Las Colinas at the crossroads of MacArthur and Interstate 635.
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