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DALLAS-Looking to cut a reverse 1031 Exchange, an industrial property owner is prepping for the move to a newly acquired 9,600-sf building, now being retrofitted, in northwest Dallas. Meanwhile, a “for sale” sign has just gone up on its 6,000-sf address on the west side of town.

Moisture Shield, a roofing company, spent $490,000 for the vintage property at 11577 Goodnight Lane, Nathan Denton of Henry S. Miller Commercial tells GlobeSt.com. Seller Ralph Thomas of Dallas put the holding on the market when his longtime tenant, a demolition company, vacated.

The Goodnight Lane property is being outfitted with 3,000 sf of office space for the corporate staff while the building’s balance is earmarked for warehouse use. A Christmas occupancy is planned.

Denton and Henry S. Miller Commercial’s Dan Spika represented Moisture Shield. Mike Gravitt of Gravitt Co. in Dallas represented Thomas at the bargaining table.

The Henry S. Miller Commercial team also got the listing for Moisture Shield’s reverse exchange play as it ramps up to exit a site it’s owned for nine years. Moisture Shield is seeking $229,500 for its 2912 Barge Lane property. “That’s a below-market rate,” Denton says. The 1981 building is positioned on a 0.33-acre tract.

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