70%-Occupied Mixed Product Sells for $3M

DALLAS-A three-building retail and office mix in Dallas has brought close to $3 million. The buyer will invest even more capital as he undertakes a retrofit into a center for wholesalers.

Renamed to the International Wholesale Plaza, the 75,189-sf complex was developed in 1986 at 2415-2445 W. Northwest Highway. The buyer of record is Bountiful Investments LP of Dallas and the seller, Update Ltd., a Hong Kong joint venture.

The 70%-occupied Northwest Corners complex is situated on about 6.5 acres in an area particularly popular with the wholesale crowd. Henry S. Miller Commercial’s Eric Deuillet, the lone broker on the deal, says he had three offers in a two-month period even though it was never officially on the market.

Another Deuillet deal brought close to the $650,000 asking price for a 25,350-sf distribution building on 1.7 acres at 2120 Vanco Dr. in Irving. Buyer Roman Marble Design Co. is planning to occupy the site before the end of September. Deuillet represented the buyer while Noel Hutchinson of Cushman & Wakefield of Texas Inc. brokered the deal for seller, Superior Supply.

Henry S. Miller Commercial’s Al Shannon sold about 1.9 acres at 1100 Enterprise Place in Arlington for Oil States Industries Inc. Drake Farmer of Bowers & Associates represented the buyers, Amalia and Santiago Rendon. The couple plans to build an industrial structure for their welding business.