Bradford Commercial Real Estate Services has sold the foreclosed and re-tenanted Bardin Professional Center in Dallas County to a medical user who plans to occupy the one available suite.
The two-story office building, totaling 9,358 sf, is located at 2304 W. Bardin Rd., Grand Prairie. Leigh Richter, executive vice president of Dallas-based Bradford, represented the seller of record, IM Bardin LLC, in a direct deal with the buyer, Nabua Property Holdings LLC.
The property is situated directly behind Great Southwest Crossing's big box retail and restaurant row at an Interstate 20 exit. The neighborhood boasts Sam's Club and a Walmart Supercenter. It's also easily accessible to TX 360 and President George Bush Turnpike.
Completed in 2003, the brick building's infrastructure includes a sprinkler system and 57 parking spaces. The lot is 0.67 acres.
"We had a lot of interest because it's a small property, quality construction and well located," Richter says. "There is a lot of daytime traffic."
At sale time, the building was 82.1% leased to five tenants. The sole vacancy, 1,676 sf, is second-generation medical office space with a large waiting room, nurses' station and six examination rooms with built-in fixtures. A renovation will soon get underway on the buyer's new office.
"The space really met the buyer's needs," Richter says. "He was impressed with the location and quality of the building, which is in great shape."
Richter had secured the foreclosure assignment in late 2016. The first task was to remove the former owner from the second floor of the nearly vacant building. Bradford vice president Erik Blais then began a re-tenanting campaign to rebuild the tenant roster, which now includes Transitions Counseling, Refreshing Times Counseling, Pinnacle Point Chiropractic, M&M Credit Solutions and Edward Jones. The full-service leases have staggered expirations through 2026.
The sale was sealed with a 60-day look and 30-day close. "This property is well-suited for an owner/occupant who has the ability to self-manage the investment, which the buyer does," Richter says. "He bought a stable income stream."
NORTH TEXAS SALE
IM Bardin LLC has sold the 9,358-sf Bardin Professional Center, 2304 W. Bardin Rd., Grand Prairie, to Nabua Property Holdings LLC. Leigh Richter, executive vice president of Bradford Commercial Real Estate Services, and Erik Blais, vice president, represented the seller in the direct deal.
NORTH TEXAS LEASES
Signs Up and Orion Technology Inc. have renewed 10,130 sf and 5,160 sf of flex space, respectively, in Trinity West Business Park A, 2550 114th St., Grand Prairie. Michael Spain, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Jim Ferris, vice president, represented the landlord, OMO Investment Co., in the direct deals.
Christ Embassy Irving has renewed 9,738 sf of flex space at 3248 Skyway Circle N., Irving. Brian Pafford, senior vice president and managing partner of Bradford Commercial Real Estate Services, and Jason Finch, senior associate, represented the landlord, Las Colinas AAA Investment LLC. T-Wally Ojo of Two and Associates Realtors represented the tenant.
The Cutting Room Barber Salon has leased 1,677 sf of retail space at 1306 May St., Fort Worth, from Magnolia May LLC. Shane Benner, vice president of Bradford Commercial Real Estate Services, represented the tenant. Eric Vickers of Hatfield Advisors represented the landlord.
38 Wines LLC, dba Thirty-Eight & Vine, has leased 1,440 sf of retail space in The Foundry District, 212 Carroll St., Fort Worth, from FW 212 Carroll Investors LP. Shane Benner, vice president of Bradford Commercial Real Estate Services, represented the tenant. Jessica Miller of M2G Ventures represented the landlord.
Bradford Commercial Real Estate Services/CORFAC International is a full-service real estate company based in Dallas with an annual transactions volume exceeding five million square feet. The company manages and leases more than 20 million square feet, valued at $300 million, in North Texas for its strategic partners.
