David Dunn, president of Dunn Commercial LP in Arlington, and one of his brokers, Greg Morris, tell GlobeSt.com that they have acquired 7996 Mansfield Highway in Kennedale as their first takedown. The vacant building was bought from Blue Thunder Roofing Co. and immediately backfilled with three long-term, local tenants: Elite Wireless, Acton Mechanical and Technology Services. Dunn Commercial's Frank G. Jester II put Acton Mechanical, a plumbing contractor, into its spot while the other two tenants handled their own negotiations for the ready-to-go space.
"We saw it, liked it and bought it," Morris says of Kennedale property. He's not saying what Questus paid, but the Kennedale building is assessed at $195,072 by Tarrant County. That fits right into the plan, which is to acquire multi-tenant properties with sale tags of $500,000 or less.
Morris says they aren't holding any contracts at this time, but they are actively looking. "We will take it as the opportunity comes," he explains, "but the goal is to buy three to five by the end of the year."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.