Realty Capital Sells Five of 16 Properties on Market

"They have many more projects and lots of land for future development," Cheri White, senior vice president of Coldwell Banker Commercial DFW, tells GlobeSt.com. The sold package goes to two buyers in dual 1031 exchanges and brings in a little over $10 million for the lot.

The Courtyard at Timarron I and II, constructed in 1999 and 2000 on about three acres, snagged more than $3.7 million from Northpark Terrace Apartments LP. The structures total 25,828 sf and are fully leased to multiple tenants. The buildings are located at 1207, 1209 and 1211 S. White Chapel in the high-end community of Southlake.

Northpark Terrace paid a shade over $2.4 million for the 17,800-sf Capital Center I at 1245 S. Main St. in Grapevine. The 94%-occupied building delivered last year. The 16,414-sf Plaza de las Flores at 3111, 3121, 3131 Cross Timbers in Flower Mound has brought in more than $1.5 million. Built in 1999 on about 1.8 acres, it too is fully occupied.

The California-based Rohr Family Trust spent $1.4 million for the 12,878-sf Colleyville Square III at 6209 Colleyville Blvd. The 100%-occupied office building delivered last year on a one-acre tract.

Realty's "for sale" properties, a mix of office and retail, are located in Ft. Worth, Euless, Bedford, Colleyville, Frisco, Arlington, Las Colinas, Grapevine and Cleburne. The buildings range from 8,020 sf to 45,825 sf and carry asking prices between $1.1 million and $4.3 million.

The sold office buildings brought within 5% of the asking prices, according to White. And those that are gone went with speed, with Plaza de las Flores spending the longest time on the market at six months. The other office buildings, says White, were under contract within two months of marketing. Rohr Family Trust placed the Colleyville Square III, home to Coldwell Banker, under contract even before it delivered.