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DALLAS-A 57,020-sf nightclub, with a hard corner foothold along Ross Avenue, has sold for the full ask after going under contract within three days of hitting the market. The quick move on the property was made by a local commercial real estate firm eyeing the investment play for an area on the cusp of a large-scale redevelopment.

Hopkins Commercial Real Estate got 1705 N. Carroll Rd., leased to Ortra Parte, for $485,000 or $14 per sf for an infill tract in an area where dirt is fetching $24 per sf, Philip Cox with Marcus & Millichap’s Dallas office tells GlobeSt.com. “It was a good deal for the buyer, a good deal for the seller,” he says. “I wouldn’t be surprised if five years from now that they sold it for triple the cost.”

Cox represented the buy side while Manuel Ramon, also in Marcus & Millichap’s Dallas office, ran the deal for the seller, a Dallas corporation. “He told me about it and I plugged the buyer in immediately,” Cox says, adding the 0.8-acre tract is a rarity in the area due to its size, one of the larger parcels in the vicinity of the Ross Avenue-Carroll Road intersection. The plan for now is to sit tight on the all-cash buy, according to Cox.

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