COLLEYVILLE, TX-A 10-year owner, clearing the deck with several lease renewals, has gotten about $1.1 million for a 14,636-sf office building positioned in the midst of high-end residential developments. The suburban office building, with eight tenants, was 95% occupied at sale time.

Brown Trail Commons at 4109-4201 Brown Trail Rd. in Colleyville passed free and clear from a private investor in San Jose, CA to one from Santa Rosa, CA. David Tuttle with Marcus & Millichap in Dallas represented the seller and Jill Bayne with the William C. Jennings Co. in Fort Worth negotiated the buy side.

Tuttle tells that seller of the garden-style office building renewed most of the expiring leases during the marketing period. “There was nominal rollover by the time we closed,” he says. The building houses an Edward Jones investment office, an accountant, chiropractor, three dentists and physician. Also prior to the sale, the roof and rear fence were replaced, he says of a holding that backs up to a single-family development and is across the street from a 25-lot, gated community now coming out of the ground.

The 20-year-old building was on the market for slightly more than $1.1 million. “We were close,” Tuttle adds.

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