The buyer's broker, Steven Schneider with Grubb & Ellis Co. in Dallas tells GlobeSt.com that Petitt & Associates doubled its office size with the plug n' play acquisition of 300 Municipal Dr., financed through a local bank. The four-partner firm made some immediate changes and promptly moved into the new address in a relocation from 10720 Miller Rd. in Garland, where its lease expires in September. From the onset of the search, the plan was to buy, Schneider says.
The building, up for sale at $85 per sf, was vacated about a year ago by its owner, according to Schneider. Seller Municipal Place LLC is a partnership of Group Administration and Pension, which had in-house representatives negotiating its interests for the one-acre property with a 21-year-old building bearing a $775,660 assessment by Dallas County.
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