Trammell Crow acquired 1102 W. Freeway shortly before the repositioning started on the 16.1-acre tract. Scott Krikorian, Trammell Crow principal, tells GlobeSt.com that the property was a rare find and an ideal candidate for a turn-around play because of its acreage and design. A new roof, truck court repairs and Home Depot as a 10-year tenant sealed the sale to a California private investment group with other holdings in Dallas-Fort Worth.
Krikorian says the property was on the market for "three or four" months, but there was no specific asking price. The confidentiality clause bars disclosure of the sales price.The 1102 W. Freeway, expanded in 1982, will front Texas 161. It is situated between Main Street and West Freeway in the heart of the industrial park that spans two municipalities.
Krikorian oversaw the redevelopment and negotiated the Home Depot Lease. He and Trammell Crow's Mark Allyn, senior vice president and Tom Dodge, associate, brokered the sale.
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