A spokeswoman for the Assured Group, which has five other developments under way in North Texas, says the Arlington project will deliver in October. Key to the decision was the location at Osler and Prairie Oaks drives, which is close to Interstate 360 and General Motors' assembly plant, says Thurston Witt with United Commercial Realty/ChainLinks in Dallas, who teamed with UCR's Darrell Hernandez to sell the land.
The acreage at 2701 Prairie Oaks Dr. was marketed for $3.25 per sf. The deal closed close to the ask, Witt tells GlobeSt.com. "We had a couple other people circle it, but he was the main one," he says. Phe-Son Properties of Corpus Christi bought a larger tract in 1999, developed what it needed and then put 3.4 acres on the market as surplus, according to Witt.
Joe Bowers with Bowers Real Estate in Dallas represented the buyer, Don Valk, owner of the Assured Group. The mini-storage development will be Valk's third in Arlington.
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