The new owner is making over the office space and expects to move in within 45 to 60 days to 1000 Fountain Parkway in Grand Prairie, once the primary location for Westgate Fabrics Inc., David Dunn, president of Dunn Commercial in Arlington, tells GlobeSt.com. He explains market conditions drove the long run on listing rosters and caused four contracts to fall out in the past two years.
"All the deals now are twice as hard to do," Dunn says, pointing to the Great Southwest's rising industrial vacancy as the cause for the hard sell. He says the latest count shows the Great Southwest has the highest vacancy, 13%, in the Dallas/Fort Worth metroplex.Sharon M. Davis of Fort Worth put the six-acre property up for sale as part of an estate liquidation, according to Dunn. The 30-year-old building was listed at $2.7 million or $25 per sf. It sold at "a substantial discount," he says.
About $125,000 went into upfront repairs when the Great Southwest holding, assessed at $1.8 million, came to market. "It's in good shape," Dunn adds. Walter Floyd with NAI Stoneleigh Huff Brous McDowell in Fort Worth represented the buyer.
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