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FARMER’S BRANCH, TX-A dealer of semi-precious and precious gems has closed a $620,000 acquisition of a small-user building in this Dallas suburb. As part of the sales agreement, buyer S.K. Mittal of Dallas has struck a 30-day lease with seller Venture One, a Dallas partnership that deals in wholesale merchandise.

Mittal, president and CEO of Kay El Co. Inc., plans to convert 90% of the structure to a jewelry office-showroom and lease the balance, Leonard Fitzgerald, senior director of Dallas-based Alliance Commercial tells GlobeSt.com. The remodel is ticketed to ramp up as soon as the seller vacates.

Fitzgerald represented the buyer for the property at 13735 Welch Rd. Pat Haggerty of the Campbell Cos. in Dallas handled negotiations for the seller.

The 25-year-old building, positioned on 25,000 sf of land, is situated in an industrial section of Farmer’s Branch, located right on the outskirts of Dallas proper. The land and single-story flex structure carry a 2001 appraised value of $480,260, according to the Dallas Central Appraisal District.

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