The Dallas-based investment group, led by managing partner RustyPerry, picked up the play for 1725 Lakepointe Dr. in the 160-acreWaters Ridge Park after another would-be buyer's contract fell out."We were able to step in and close it quickly," Perry tellsGlobeSt.com.

Perry says the search is on for a single-tenant or "two orthree" users for the one-time Motorola Corp.'s build-to-suit on 5.6acres. Rick Medinis and John Lancaster with NAI Robert Lynn inDallas have been hired to lease the single-story building, whichhad been subleased until July 2006. Months later, KeyCorp RealEstate Capital, a division of the Cleveland-based KeyBank, took theasset back as a deed in lieu of instead of foreclosing on thelimited partnership from Kansas City, MO.

"The seller never attempted to lease the building, preferring tosimply move it off their books as quickly as possible," Perryexplains. "The bank needed a quick close, and our ability to movefast and close all-cash gave us an advantage over the competition."KeyCorp had CB Richard Ellis' Dallas team of Josh McArtor, JonathanBryan and Ruth Woodling in charge of the sale. Brandon Chavoya withHolliday Fenoglio Fowler LP in Dallas arranged financing.