Pete Richardson, senior vice president of Henry S. MillerCommercial in Dallas, tells GlobeSt.com that Grove's owner intendsto use part of the land at 1350 W. Oakdale St. to expand itssix-acre operation at 1201 Shady Grove Rd. and do ground-upindustrial buildings on the balance. He estimates 15 to 30 acres ofthe site, which backs up to the Trinity River, is developable."He's waiting to see what the economy's going to do right now,"Richardson adds.

|

Richardson says Grove's owner had been persistent in his offersalthough other contracts had been put on the seller's table in thepast year. Each time, Richardson says John Wang of Dallas backedaway from the deals. Then, the pendulum swung in Grove's direction."The seller finally decided he wanted to liquidate," says thebroker, who teamed with his brother Drew Richardson, a Henry S.Miller associate, to close the deal.

|

Grove Truck & Equipment takes up an entire block in theGreat Southwest Industrial District in a mix of small warehousesand a large storage yard. "He's been eyeing that property forawhile," Richardson says. "The timing was right. He got a fairlygood deal on it."

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.