A mother-daughter investment team, buying in Texas for the first time, bought 2639 Electronic Lane in Dallas, winning the race with the 25-day closing pledge. The building, fully leased to eight tenants, will be leased and managed by Bruce Marshall of Sperry Van Ness in Dallas, who teamed with the firm's Scott Henderson to close the deal for the buy side. David Cook, also with Sperry Van Ness, represented the local seller, Electronic Lane Partners Ltd., which bought the 1.9-acre holding just one year ago.
Cook tells GlobeSt.com that the 25-year-old building was 20% vacant last year when it traded. "He leased it up, did a couple renewals," he says, "and turned around and sold it again." Cook says three new tenants landed at the building in the past year. Lease expirations run from one year to five, according to Cook.
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