Techwood Design will relocate in about 10 weeks to 900 E. Clarendon from an 18,000-sf leased location at 4653 Mint Way in Redbird Industrial Park. Tim Vogds, a Dallas associate with CB Richard Ellis Inc., tells GlobeSt.com that the new owner paid less than the $727,700 assessment by Dallas County and plans to invest several hundred thousand more into retooling the property. Techwood, a husband-and-wife business, got a 1930s-era building, expanded several times through the years, on a seven-acre tract after searching practically a year for a site to buy in South Dallas, he says.
Techwood is planning a phased-in move as the Redbird lease winds down. "It's kind of a cushion to transition this business to the new facility," Vogds says about the 10 weeks left on the term.
Rock-Tenn Co. Mill Division of Norcross, GA, a corrugated paper supplier, owned the asset at least 60 years, according to Vogds. The structure was vacated and put on the market as "for lease" product about a year ago. Vogds says the location and size drove the unsolicited offer to win Rock-Tenn's nod in the buyer's price range. Bill Bexley with JSC Realty Co. in Dallas represented Rock-Tenn in a deal that went full circle in 90 days.
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