(Read more on the industrial market.)

ARLINGTON, TX-A 192,000-sf office/warehouse has sold at a deeply discounted price after a four-year run on the market, with the local buyer ponying up roughly $2 million or $1.5 million less than the original ask. The building was emptied two years ago when its owner, a cardboard box manufacturer, consolidated.

Not only did Lily Chang of Arlington place the highest offer for 2801 Abrams St., but she made the close with cash on the barrelhead, Pete Richardson, vice president for Henry S. Miller Commercial in Dallas, tells GlobeSt.com. He says the building most likely will be renovated, but the key to the deal is the 12-acre tract. “It has the potential for redevelopment,” he says, citing its location one block east of US Hwy. 360.

The long-dark building, built in the 1950s and expanded in the 1960s, was the only holding in the region for Simkins Industries Inc. of New Haven, CT. Richardson and Henry S. Miller’s Greg Trout, president of the industrial and office division, represented the seller, who garnered five offers after discounting the price. Michael Stanzel, executive vice president for Dallas-based NAI Robert Lynn, brokered the buy side.

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