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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.

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