The Desanders Family LP parted with the building on less than an acre at 6000 Camp Bowie Blvd. after a 13-year hold. According to Tarrant County tax records, the asset is assessed at slightly more than $1.2 million.
Barney McAuley, vice president and head of Woodmont Co. Capital Markets Group in Fort Worth, tells GlobeSt.com that interest ran high from 15 would-be buyers as has been the case with net-leased properties. The long-term leases for Blockbuster Video and Qdoba, part of a Mexican restaurant chain based in California, and the solid location drove a quick deal despite the requirement of a loan assumption, he says. The Fort Worth investor won the face-off with the highest bid on the table, according to McAuley.
Peyton Millinor, a Woodmont associate, represented the seller while Woodmont's Will Martin brokered the terms for the buyer. The sale was one of five completed in 10 days with an aggregate value of $53 million in Salt Lake City and Dallas/Fort Worth.
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