"We were up against three or four others," Nathan Denton with Henry S. Miller Commercial in Dallas tells GlobeSt.com about the takedown of 7800 Sovereign Row in Dallas' Brookhollow Industrial District. "There just aren't that many buildings in that size range that would make a good investment." Marks Investments of Dallas brought the 48-year-old building to market after a 15-year hold.
Denton says buyer Richard Cole of Dallas went hard on the earnest money before the paperwork could hit the title company. A Compass Bank loan helped to finance an acquisition with a promise for a quick close, according to Denton, who single-handedly brokered the transaction. "We closed the entire deal in two weeks," he says, adding the packaged play included a new lease with the three-year tenant, ConAgra Inc. subsidiary Bunzl, which distributes meatpacking materials.
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