A joint venture partnership of six physicians has sold a 15,110-sf medical office building that has housed their practices since its completion in 1985 in central Arlington.

The buyer, TKEN Holdings, operates a pain management practice, which plans to use a majority of the space at 950 N. Davis St. and lease the balance. A physician with roughly two years left on his lease currently occupies 12% of the single-story building.

Shane Benner, an associate with locally based Coldwell Banker Commercial Advisors DFW, and Renee Efimoff, vice president, represented the seller, North Davis Joint Venture. Trang Dang-Le of DFW iRealty negotiated on behalf of the buyer.

Situated on 1.1 acres, the medical office building features 30 examination rooms, 13 private offices, two conference room, 16 bathrooms, a lab, two kitchens and storage space. There are 92 parking spaces, of which 37 are covered.

"It's one of the few office buildings of that type that has covered parking. To the sellers' credit, their build-to-suit design has really withstood the test of time and showed foresight with the parking, which really helped to sell it," Benner says.

The property was on the market about one year as a for-sale or lease opportunity. The buyer considered leasing and then opted to purchase it. The sale went from contract to closing in roughly three months.

The property is strategically positioned within a medical office corridor and neighbors several outpatient surgery clinics. Texas Health Arlington Memorial Hospital is less than a half-mile from the property and Interstate 30's close by too.

SALE

North Davis Joint Venture has sold a 15,110-sf medical office building on 1.1 acres at 950 N. Davis St. to TKEN Holdings. Shane Benner and Renee Efimoff of Coldwell Banker Commercial Advisors represented the seller. Trang Dang-Le of DFW iRealty represented the buyer.

Founded in 1992 as SCM Real Estate Services Inc., Coldwell Banker Commercial Advisors DFW is a full-service commercial real estate firm providing clients with expert advice and strategies customized to their particular needs. Our services include investment sales, project leasing, property management, tenant representation.