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GRAND PRAIRIE, TX-North Texas Catering Inc. has sold its historical headquarters building to an owner-user who jumped into a rehab as soon as the deed was in hand. The 1950s-era building, with a state historical designation, came with a tenant and room for some more.

K&H Holdings Inc., now leasing in Arlington’s Exchange Park, bought the 12,500-sf Anderson Building at 1502 Houston St. in Grand Prairie. Staying in place until the deal closed, the catering company had the asset on the market 90 days at a $600,000 ask, Phil Sandlin with SCM Real Estate Services in Arlington tells GlobeSt.com.

Sandlin, teaming with SCM’s owner Gary Walker, says the new owner floated an acquisition and renovation loan with First Security Bank. The plan is to convert the commercial test kitchen and two banquet rooms into traditional office space, according to Sandlin. He says K&H, which used an in-house exec to broker the deal, intends to occupy the first floor and find a tenant to share the second story with an existing tenant who has a couple years left on its lease.

North Texas Catering recently expanded and relocated to the headquarters team to City Tower along Abram Street in Arlington. Dallas County records show the caterer bought the property, assessed at $198,170, in July 2000. Sandlin says the caterer had occupied the building for the past decade.

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