Jon Moreau, market director for Robert Lynn Co./Corfac in Dallas, tells GlobeSt.com that a quartet of bidders simultaneously bid on the asset at 1015 Mockingbird Lane after it lingered on the market nearly a year and lost two contracts because it's positioned in an area barring alcoholic beverage sales. Taking the deed was DFW Imaging Inc., a locally based print shop that picked up a ready-to-go building emptied two years ago by another printer. The seller was Keyland Investment LP of Dallas, which flipped the deed after a one-year hold.
Moreau says the buyer didn't have the highest offer on the table, but "they were the fastest close." The competition pitted the printer against a national service station operator, a retail developer and a church.
Moreau and Jeff Mercer, EVP for the Robert Lynn Co., teamed on the sale of the 1.8-acre property at the corner of Ambassador Row. Eric Morgan with Capstone Commercial in Dallas represented the buyer.
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