Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LEWISVILLE, TX-Three retail properties have changed hands, with one earning more than $1.6 million for the Salt Lake City developer of a combo net-leased property in Denton County.

NovaSource Development the AAMCO/Just Brakes location at 1620 S. Stemmons Freeway to Renata Enterprises of Modesto, CA. The estimated 8,000-sf automotive center, which delivered this year, sits on about 1.5 acres in the Waters Ridge section of Lewisville.

Jessica Zahn in the Phoenix office of Marcus & Millichap represented the seller. Prudential Real Estate negotiated on behalf of the buyer.

Also, Shafer Property Co. of Dallas secured financing in excess of $2.7 million to acquire the 54-year-old Falk Building in the Uptown section and a vacant convenience store in Fort Worth. The 10,560-sf Falk building at 2633 McKinney Ave. will be converted into a multi-tenant retail property after being used for the last 39 years as the operations base by owner, Falk Fabric Co. Inc. The half-acre tract and building were assessed at $778,540 for last year’s taxing purposes, according to the Dallas Central Appraisal District.

Shafer also is courting a new flag for a closed ExxonMobil station at the intersection of Bryant Irvin Road and Interstate 20 in southeast Fort Worth. The six-year-old, 4,327-sf building was bought out of foreclosure, according to Brad Donnell, senior director for Dallas-based Metropolitan Capital Advisors, who arranged the dual financing with Park Cities Bank for two floating-rate acquisition loans.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.