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COLLEYVILLE, TX-Spinning a sale in three weeks, an Aledo, TX developer has hawked a one-year-old, single-tenant office building to a 1031 exchange investor from San Francisco.

Five offers, three at the full $1.2-million ask, rolled in for the 4,000-sf build-to-suit at 6200 Colleyville Blvd., net leased for the long term to First American Title Co., Dusty Renfro with NAI Stoneleigh Huff Brous McDowell in Fort Worth tells GlobeSt.com. The winner, he says, was picked because “they could close faster.”

Stembridge Ltd. is the seller of the near one-acre tract, tucked into a budding retail corridor for a high-growth residential pocket. Gary Tribulato with Hancock Properties in San Francisco represented the buyer, who most likely was reinvesting capital from a sale in his homeport, Renfro says.

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