Mastercraft, which has its main operation in Fort Worth, was looking for 17 months for an owner-user property to expand in a market where few smaller buildings are available for sale. "They finally found one that met their financial and business needs," Jerry Reis, president of Property Advisers Realty in Irving, tells GlobeSt.com about 2150 Century Circle in Irving. The Dallas-based seller locked in a price that came close to the $37 per sf ask, he says.
Mastercraft secured financing from a Fort Worth bank for the acquisition and build-out of new office space. The office/warehouse, sitting on 1.6 acres, has 24-foot clear height, 10% office finish and one-third air-conditioned space. Richard Carlson of the Richard Carlson Co. in Fort Worth represented Mastercraft.
Reis says he's had bites on the other two buildings, but no contracts as yet. The other "for sale" assets are a 24,000-sf building at 2200 Century Circle, which is leased for the long term to a single tenant, and a 38,800-sf design at 2100 Century Circle.
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