Confidentiality agreements prevented release of the actual salesprice release, but comparable properties in the area have tradedfor between $85,000 and $105,000 per door. The Tarrant CountyAppraisal District pegs the class A asset's value at $24 million.Meanwhile, the cap rate on the in-place numbers for the property at3033 W. Bardin Rd. was slightly above 7%.

Seller representative and CB Richard Ellis executive vicepresident G. Craig LaFollette says the Columbus, GA-based FlourneyDevelopment is a merchant builder with an MO of construction,lease-up and then selling. As for the Deerfield, IL buyer, "theyknow the area. They own a lot of properties in Dallas and Austin,"says Houston-based LaFollette.

LaFollette shared marketing duties with CBRE's Houston brokersJ. Todd Stewart, executive vice president; M. Todd Marix, seniorvice president; Tre T. Banks, vice president and associateChristopher D. Curry. CBRE Dallas office executive vice presidentsMark J. Stymiest, William J. Baxter Jr. and Dirk Goris were also inon the transaction.