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DALLAS-A law firm has paid close to the $1-million asking price for an 11,381-sf, class A office building, situated at 5473 Blair Rd. in Dallas. The structure is positioned in a close-in section that has become a hotspot due to the nearby redevelopment of the former Dr. Pepper site, now an upscale mixed-use project, and the expanding Presbyterian Hospital.

Michael Franklin Terry of Dallas used the building as the main hub for a regional Terminex franchise, which he sold a few years back, says Jerry Reis of Property Advisers Realty Inc. The three-story building was on the market for six months before being sold to Terry S. Stanford of Dallas, Reis tells GlobeSt.com.

“It’s a great in-town location. Little land deals are hard to find in town,” he says. The 11-year-old building is situated on less than a half acre.

Under the sales pact, Franklin will vacate his 1,800-sf office to the law firm. The spot, says Reis, is the only one available in the multi-tenant building. Precision Set is the lead tenant, occupying 4,500 sf. Reis represented Terry in the sale of the holding near Central Expressway and Walnut Hill. Independent Dallas broker Rob Francis acted on the buyer’s behalf.

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