GRAND PRAIRIE, TX-An investment group from Los Angeles, working a 1031 exchange, has taken title to a 48,600-sf office/warehouse in an off-market deal. With the asset at 100% occupancy, sources say the going rate is $50 per sf to $60 per sf for comparable product in the Great Southwest Industrial District.

David Dunn, owner of Sperry Van Ness/Dunn Commercial in Arlington, tells that he was severing a six-year partnership with the sale of the income-generating asset at 3017 Red Hawk Dr. The buyer of record, Grupo Glemka LLC, was “working with my shop and I decided to offer it to him,” the broker explains. He says the partnership split forced the sale, but “”I didn’t really want to sell it.” Dunn retains leasing and management of the asset, just as his team did for the buyer’s early June acquisition.

The 25-year-old office/warehouse sits on 2.3 acres, clearly visible from US Hwy. 360. Dunn says its three tenants–Trane Co., Mid-Cities Home Medical Equipment Inc. and Mannatech Inc.–each lease a 16,800-sf spot and each has a long-term lease in place.

Earlier this summer, Grupo Glemka, armed with gain from an industrial sale in Los Angeles, bought a 16,619-sf shopping center at 7010 American Way, just 12 miles east off Interstate 20 in Dallas. Cameron Pope and Matt Opitz in Dunn’s office negotiated the buy side of both deals.

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