DALLAS-A local 1031 exchange buyer has acquired a 13,500-sf, single-tenant, net-leased building along Northwest Highway, using proceeds from a commercial sale in Oak Cliff. The off-market deal was sealed with a five-year renewal by the longtime tenant, Cash America Pawn of DFW.
The Fort Worth-based Cash America International Inc. not only re-upped, but "got a good deal to stay there 10 years with the five-year option," Greg Woodring with Dallas-based Henry S. Miller Commercial tells GlobeSt.com about Reppas Properties' takeover of 10502 E. Northwest Highway in Dallas. He and Mark Hajdu, also with Henry S. Miller Commercial, represented the buyer.
Seller JW Properties of Dallas parted with a 15-year hold of a 19-year-old building positioned on slightly less than one acre along the primary thoroughfare. Negotiations began without an ask and ended with a couched price although it's a safe bet that it reaped close to its $785,340 assessment by Dallas County. The Meara Co. of Dallas bargained on the seller's behalf.
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