Fort Worth, TX – September 30, 2024 - The high-profile 4-tenant drive-thru retail pad building, located in the thriving Golden Triangle trade area of Fort Worth, Texas, has been successfully sold for $4 million at a 5.95% in place cap rate to a 1031 Exchange buyer from Southern California. The property was 100% occupied by Dunkin’ Donuts, Golden Triangle Dental, Rosati’s Pizza, and Bazooka Charlie’s Barber. The property is strategically positioned near a Walmart Supercenter Shopping Center, enhancing its appeal to investors seeking a stable, high-traffic location.
The seller, a national developer, was represented by Scott DeYoung, Senior Managing Director, Jeff Conover, Managing Principal, and Greg Lukosky, Director, of Faris Lee Investments, a leading national retail advisory and investment sales firm.
This sale underscores the strength and resilience of the Fort Worth commercial real estate market, even amidst the current interest rate environment and challenging economic conditions. The escrow was approximately 65 days, with due diligence completed in only 21 days.
About Faris Lee Investments:
Faris Lee Investments is one of the leading retail investments firms in the US and is one of the original firms specializing in retail investment sales throughout the country. Faris Lee combines underwriting and market research that exceeds industry standards with a custom strategy to maximize values for their clients’ .The firm also serves as high level investment advisors in the areas of dispositions, acquisitions & recapitalizations as well as, distressed asset disposition, portfolio sales, and corporate sale-leaseback. For more information, visit www.farislee.com
Media Coverage: https://shoppingcenterbusiness.com/faris-lee-arranges-4-7-million-sale-of-retail-pad-building-in-dalton-georgia/