Katina Coburn of Dunn Commercial LP represented the buyer, Oakhollow Properties Ltd. of Arlington while David Cooke of Dallas-based Staubach Co. handled negotiations for the seller, Bank One. The deal closed with the bank leasing back the 18,000-sf building through year's end to give more time for a relocation to the other end of town, Coburn tells GlobeSt.com. In keeping with Texas' non-disclosure law, the selling price is being kept under wraps.
Coburn is leading the team to re-tenant the building. The strategy, she says, is to find another bank and perhaps divvy the space so that some retail can be slid in as well. The bank's positioning, with a redeveloped mall to the rear, makes the undertaking even more likely.
The single-story building, situated on about an acre, is designed with drive-through windows and conference rooms. Bank One used the location primarily as a training center. Coburn says she's confident that another bank will be found to lease either all or part of the site.
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