Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FARMERS BRANCH, TX-Area buyer A&S Spring Valley Holdings acquired a flex 116,651-square-foot flex building and five acres from Jim Pattison Development US Inc. The buyer is the holding company for Loloi Rugs, which will relocate into the space.

Steve Berger, first vice president with CB Richard Ellis’ industrial group in Dallas office had the marketing assignment and says the building was offered for sale in early 2009 at just under a $5-million ask. The seller, a Canadian owner, had moved operations and no longer needed the asset. He tells GlobeSt.com that the asset at 4501 Spring Valley Rd. attracted a great deal of interest, and A&S Spring Valley Holdings emerged the winner because it made the best offer.

Berger says during the marketing period, the majority of those looking at the 1970s building were also owner-users. “It came down to a competitive situation as to which buyer we were going to proceed with, then this was under contract for a while,” he adds. “We actually weren’t on the market for very long.”

“Loloi is currently on Inwood Road, not far from this building and in a smaller facility,” explains Berger, who partnered with CBRE’s Dallas office’s first vice president David Easterling and senior associate Sarah Carter on behalf of the seller. “They’ll be doing some refurbishment and some remodeling of the office there, and putting in a small showroom.” A&S Spring Valley was represented by John Gilbert with Dallas-based Gilbert Commercial LP.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.