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IRVING, TX-Poynter-Scifres has sold another office building from its stock in an ongoing strategy to build, sell and maintain the reins for leasing and property management. The Arlington-based developer reportedly has broken a sales record in Valley Ranch with the hand-off of the [email protected] Trail.

“Neither us nor the appraiser could find a sales comp that was at or above our sales price,” says David Tuttle with Marcus & Millichap Real Estate Investment Brokerage Co. Though the final price is off limits, he did say the 10,077-sf, fully leased office building at 305 Cimarron Trail sold for considerably more than the $900,000 assessment by Dallas County. Given Valley Ranch’s dynamics, it’s highly likely that the sale surpassed $200 per sf.

The Tustin, CA buyer placed the first offer–full price–to win the nod before the listing could make it to the brokerage house’s website, Tuttle tells GlobeSt.com. The one-year-old, six-tenant building has “zero near-term rollover,” he says.

Tuttle says the buyer, who’s wheeling and dealing for several Texas properties, went the full distance to take the 1.1-acre deed because he has first-hand knowledge about master-planned development and the built-in security that comes with investing into a high barrier-to-entry location like Valley Ranch. “There aren’t many developable tracts along that part of MacArthur,” Tuttle says. “He understood the master-planned concept in Valley Ranch because Orange County is master-planned and the pricing that’s relative to that.”

Tuttle and Michael Lawrence, an adviser in Marcus & Millichap’s Newport Beach, CA office, represented the seller. Michael Woolbright, also part of the Newport Beach team, negotiated the buy side.

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