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COLLEYVILLE, TX-A 5,865-sf building with live, work and play opportunities in Colleyville has brought about $501,000 for its developer, Ritz Properties Inc. of Colleyville. Buyer Dallas Digital Services is planning a May 1 move from a leased site in Grapevine.

The seller put the property on the market in June 2002, with the last leg of the transaction taking 90 days to close from the point that it went under contract, Leah Dieb Collins of Dallas-based Mohr Partners Inc. tells GlobeSt.com. The buyer was particularly taken with the opportunity to live and work at the same address, obtaining some financing to collect the deed.

Collins says the acquisition of 5316 Bransford Rd. closed just $5,000 shy of its 2002 assessment, which the Tarrant County Appraisal District pegged at $506,420. The four-year-old building, with a second-floor apartment, sits on slightly less than a half acre. The northeast Tarrant County homebuilder used the location for its sales office.

Collins and Mike McCoy, also with Mohr Partners, brokered the sale. Collins said the deal was negotiated directly with the seller although the Makens Co. held the listing.

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