Hangover Opportunity Fund LLC has sold a 70,111-sf industrial flex property in the Mid-Cities to Dallas-based JPA Capital LLC.

Key to the sale of 1101 Pamela Dr. in Euless was 37,290 sf of shell space, a turn-over plan for a three-year investment by the Texas-based fund manager, SkyWalker Property Partners. The balance of the space is leased for the long term to Curry Printing Inc., Modern Tektronic Assembly Inc. and ABC Auto Auction.

"This property was primed for an owner/occupant opportunity. The Mid-Cities warehouse market has always been a desirable location with good investment value," says Casey Tounget, associate of Coldwell Banker Commercial Advisors DFW. He and Theron Bryant, principal for CBC Advisors DFW, represented the seller of record, Euless Always on My Mind. The buyer was self-represented in the acquisition.

In the past three years, the seller has added a 7,000-sf tenant to boost occupancy to 47% and completed upgrades inside and out, including new landscaping. Built in 1967, the structure is positioned on a 4.1-acre tract with easy access to TX 183, TX 157 and Interstate 10. It's also situated within blocks of the Dr. Pepper StarCenter sports complex.

The Hangover fund has been selectively disposing of properties in the portfolio, which at one time totaled 21 assets valued at roughly $50 million. As the disposition advances, SkyWalker Property Partners has turned its sights to acquiring properties for its new funds, When Opportunity Knocks and Cash Flow Fever.

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.