Applestap LLC is the buyer of record for the holding leased for 15 years to Staples Inc., headquartered in Framingham, MA, and Applebee's International Inc. of Overland Park, KS. The retail center is situated on a 3 1/2-acre parcel at the junction of Texas 197 and Boat Club Road in Lake Worth. Developers Gilmore-Davis Cos. of Dallas.

James Dwoskin, president of ICA Realty Corp. of New York City, brokered the transaction for the buyer. His longtime business associate, Joe Owen of Owen Property Co. in Dallas handled talks for the seller of record, GDC 199 Ltd., led by Gary Gilmore and Barry Davis, principals of the development firm.

Dwoskin tells GlobeSt.com that the deal closed with about $1.1 million in cash from a 1031 Exchange and the balance in a debt assumption that went from start to finish in less than three months. It's the fifth net-leased retail property in Texas that Dwoskin's crafted and closed in the last year.

The Lake Worth property is destined for a long-term hold by a new owner with an extensive, multifaceted portfolio that goes from coast to coast and border to border in the US. Dwoskin's uncertain what was sold and where since the family's investment strategy turns properties on a regular basis.