The 90%-leased Senter Place at 1422 W. Main St. in Lewisville has been picked up by Jim Holmes Jr. after it lost one contract on the road to a closing, Leigh Richter, vice president for Dallas-based Joe Foster Co., tells GlobeSt.com. As a result, the seller had to bring the property back to market in November. The seller is 2.4 for 1 Ltd., a family trust managed by the Joe Foster Co.
Richter says Senter Place's buyer, 1422 W. Main Ltd., led by Holmes, owns one million sf in the Lewisville submarket. One of its principals, Bill Davidson of First Commercial Realty LLC of Lewisville, structured the takeover for the buy side. Janine Barber with Republic Title of Texas handled the closing.
Built in 1983, Senter Place is leased to 12 tenants, mostly tied to long-term leases and predominately medical-related operations. According to Richter, there are only a couple renewals coming up this year.
Richter says the seller has been selling a portfolio of half dozen properties for four years. The last asset to go was a small industrial building in Farmers Branch. A 31,000-sf office building in the East Stemmons Corridor is up for grabs.
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