(Read more on the industrial market.)
ARLINGTON, TX-A 192,000-sf office/warehouse has sold at a deeplydiscounted price after a four-year run on the market, with thelocal buyer ponying up roughly $2 million or $1.5 million less thanthe original ask. The building was emptied two years ago when itsowner, a cardboard box manufacturer, consolidated.
Not only did Lily Chang of Arlington place the highest offer for2801 Abrams St., but she made the close with cash on thebarrelhead, Pete Richardson, vice president for Henry S. MillerCommercial in Dallas, tells GlobeSt.com. He says the building mostlikely will be renovated, but the key to the deal is the 12-acretract. "It has the potential for redevelopment," he says, citingits location one block east of US Hwy. 360.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
