First Industrial Buys 73,986-SF Valwood Building

The final price is off limits due to a tight confidentiality clause imposed by the Chicago-based buyer of 1207 W. Crosby Rd., a 73,986-sf industrial building that's fully leased to a mattress maker. "We were very happy with the price that it sold at," says Steve Wolff, a Dallas associate for Grubb & Ellis Co., who teamed with Gary Lindsey, senior vice president, to sell the asset for Larry W. Bannister, the one-time franchisee for Spring Air who sold the 33-year-old business a year ago and kept the vintage build-to-suit real estate.

Wolff tells GlobeSt.com that the all-cash sale closed in less than three months with a long-term lease in place to support the financials of the swap. He says the deal was quietly shopped to a handful of possible buyers rather than floated marketwide. At the end of the day, there were "a couple solid offers," he says.

The 15-dock warehouse sits within two blocks of Interstate 35E. First Industrial, as the locals know, is one of the largest building owners in the Carrollton industrial park.