X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

GARLAND, TX-After a yearlong wait for a buyer and extended negotiations, Univision Communications Inc. has handed off its original headquarters and broadcast location in Dallas/Fort Worth to a local high-tech provider. The just-sold property consists of two buildings, totaling 14,300 sf, and an income-generating tower with four tenants.

DLT Networks Inc. has started retooling the 9,800-sf and 5,500-sf buildings at 3720 Marquis Dr. and 3710 Marquis Dr., respectively, for its headquarters and operations hub for a wireless business with broadcasting and Internet components. The stickling point in the talks was reaching a compromise over the value of the “vertical real estate,” Buddy Turner, senior vice president and industrial division director for Dillon Corporate Services/Cresa, tells GlobeSt.com. At its peak usage, the tower generated $100,000 annually in income, but that has dipped considerably, he explains of the hurdle that had to be overcome to get the deal to the closing table.

DLT Networks, now operating out of leased space at 10909 Sanden Dr. in Dallas, was just one of a couple offers that surfaced in the one year of marketing, according to Turner. “It was hard trying to find the right person to maximize Univision’s value on it,” he says.Turner says the Los Angeles-based Univision, which has a division in Teaneck, NJ as the owner of record, and the buyer took nearly four months to work out the details for the one-acre trade. The all-cash sale closed at “north of $899,000,” the deal’s lone broker says.

Univision acquired the properties in 1989. The larger building was used as a corporate headquarters and the smaller one for broadcasting.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.