DALLAS—Common wisdom says sales slow during the election period and then resume after the election but activity hasn't slowed much at all in the DFW market, says Robin Francis-Baker, SVN broker. And, one property was in such demand that it was on the market a scant 30 days prior to sale.
The four-story office building located at 8344 R.L. Thornton Freeway was built in 1984 and stands on 2.15 acres along one of Dallas' busiest motorways. It has 50,075 square feet of space and recently sold to 4D Circle LLC of Fort Worth for an undisclosed price. SVN Steve Fithian and Francis-Baker represented both the buyer and the seller, Ozinus Thornton LLC, in the transaction.
The class-B office building is more than 90% occupied and boasts a long-term stable tenant base. Some of the larger tenants include Resource One, Lira Bravo Law, GAO Construction Services, Farmers Insurance, Reliable Life Insurance, Tillery & Associates, World Impact Dallas, Elim Health, Texas AFT, Staff Force and Dr. Pedro Zevallos.
“This property was attractive for its upside potential,” Fithian said. “It was on the market for only about a month before it went under contract, which is a testament to how hot the real estate market is in the DFW area right now.”
Francis-Baker discussed some of the building's strong points in this Q&A.
GlobeSt.com: What set this property apart from other similar properties in the market?
Robin Francis-Baker: The great visibility on a busy street, high occupancy, and excellent maintenance and property management. The building being more than 90% occupied really set the property apart from other properties in the market.
GlobeSt.com: What is the long-term projection for the property?
Francis-Baker: Dallas real estate is a proven performer, and this property is perfectly positioned for above-average growth as the population expands and the economy continues to recover.
GlobeSt.com: Are class-B properties filling a niche for buyers?
Francis-Baker: Buyers are looking at all classes of building but class-B buildings are a good niche as they aren't as expensive as class-A but you can find some high-quality buildings.
DALLAS—Common wisdom says sales slow during the election period and then resume after the election but activity hasn't slowed much at all in the DFW market, says Robin Francis-Baker, SVN broker. And, one property was in such demand that it was on the market a scant 30 days prior to sale.
The four-story office building located at 8344 R.L. Thornton Freeway was built in 1984 and stands on 2.15 acres along one of Dallas' busiest motorways. It has 50,075 square feet of space and recently sold to 4D Circle LLC of Fort Worth for an undisclosed price. SVN Steve Fithian and Francis-Baker represented both the buyer and the seller, Ozinus Thornton LLC, in the transaction.
The class-B office building is more than 90% occupied and boasts a long-term stable tenant base. Some of the larger tenants include Resource One, Lira Bravo Law, GAO Construction Services, Farmers Insurance, Reliable Life Insurance, Tillery & Associates, World Impact Dallas, Elim Health, Texas AFT, Staff Force and Dr. Pedro Zevallos.
“This property was attractive for its upside potential,” Fithian said. “It was on the market for only about a month before it went under contract, which is a testament to how hot the real estate market is in the DFW area right now.”
Francis-Baker discussed some of the building's strong points in this Q&A.
GlobeSt.com: What set this property apart from other similar properties in the market?
Robin Francis-Baker: The great visibility on a busy street, high occupancy, and excellent maintenance and property management. The building being more than 90% occupied really set the property apart from other properties in the market.
GlobeSt.com: What is the long-term projection for the property?
Francis-Baker: Dallas real estate is a proven performer, and this property is perfectly positioned for above-average growth as the population expands and the economy continues to recover.
GlobeSt.com: Are class-B properties filling a niche for buyers?
Francis-Baker: Buyers are looking at all classes of building but class-B buildings are a good niche as they aren't as expensive as class-A but you can find some high-quality buildings.
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