Dall-Minn LP, an affiliate of Maylar LP in Dallas, bought the asset at 2051 Valley View Lane in Farmers Branch in an off-market deal put on the table by Jim Svidron of Dallas-based Robert Lynn Co. Enersyst's lease runs through the end of the year and contains three one-month options, Claire S. Baker, Maylar's senior financial analyst, tells GlobeSt.com. Maylar, led by Craig Johnson, most often buys empty buildings that are prime candidates for repositioning. The all-cash sale closed at "north of $40 per sf," she says.
"This gives us some time to figure out what we're going to do and gives them time to figure out what they're doing," Baker says. "We had the flexibility to let them stay for awhile."
The single-story building, sitting on slightly less than an acre, was built in the mid-1960s and expanded in the early 1980s. The structure has 4,800 sf of office finish-out and the balance, now being used for research and development, is readily convertible to warehouse space. Baker says the key to the decision to buy is its smaller design in an industrial pocket with big box neighbors.
TurboChef has an operations center at 10500 Metric Dr. in Dallas, but Baker says she's not sure that's where the Enersyst team will land. Enersyst, which holds more than 150 foreign and domestic patents, researches, develops and licenses technology for the food service equipment industry.
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