The 42,537-sf Metro Center at 1701 W. Euless Blvd. in Euless and30,318-sf Finley Plaza at 3317 Finley Rd. in Irving went for belowtheir replacement costs of nearly $30 per sf, according to thedeals' broker, Ron Hebert, a director in Dallas for Encino,CA-based Marcus & Millichap Real Estate Investment Services. Hetells GlobeSt.com that the 23%-leased Metro Center drew five offersand 57%-occupied Finley Plaza garnered six, with the winnersplacing the highest bid in their respective packs.

Hebert says both new owners are planning upgrades as part oftheir value-add plans to improve returns for the suburbanproperties. Metro Center, built in 1971 on 1.7 acres, was bought bya private investor from Fort Worth, who only buys Tarrant Countyproperties. His broker was Russell Turman in Marcus &Millichap's Fort Worth office. Hebert sourced the Finley Plazabuyer, also a private investor. The asset was developed in 1972 on1.8 acres along a major thoroughfare in its suburb, a positioningthat mirrors Metro Center's location.

[IMGCAP(2)]BH Properties acquired the 17-asset office portfoliofrom a Lacey, WA-based joint venture between Capitol DevelopmentCo. and Prudential Blume Realty Co. "These properties did not quitefit their portfolio," Hebert says.