With net-lease properties in continued high demand, a California-based family trust has sold the Luv'Em & Leave'Em Professional Learning Center in southeast Arlington to a 1031 exchange buyer in an all-cash transaction.
The purpose-built daycare center, totaling 5,040 sf, was developed in 1984 on 0.63 acres at 1235 W. Sublett Rd. Shane Benner, vice president in the Fort Worth office of Dallas-based Bradford Commercial Real Estate Services, represented the seller, Sublett Holdings LLC.
"There is more demand than supply right now for net-lease investments," Benner says. "We had people still reaching out even after we were under contract."
The in-place tenant has more than eight years remaining on the lease, an investment opportunity that caught the eye of at least a dozen investors. The winning offer was placed by P&E Groot Family Trust, which was represented by David Newton of Lee & Associates.
"It was a straight-forward triple net-lease deal that closed in 43 days," Benner says.
In a recently released Q3 report, Dallas/Fort Worth was ranked second in the nation for net-lease sales. DFW's transactional volume topped $670 million during the quarter.
"We are seeing continued interest from out-of-state buyers who like the DFW economic story," Benner explains. "A single-tenant net-leased property with minimal landlord responsibility in DFW/Arlington is very attractive."
The just-sold asset is tucked into an established neighborhood of single- and multifamily units near South Cooper Street, one of the city's longest and strongest stretches of retail with a daily traffic count of nearly 42,000 vehicles. The Luv'Em and Leave'Em daycare abuts Polycrest Shopping Center, home to Pizza Hut, Splendid China and Subway and several office tenants.
The daycare facility is marking its 37th year of continuous operation. The current provider, Luv'Em & Leave'Em Professional Learning Center, leased the site in 2019. The creditworthy tenant provides education-based services for infants and children up to five years old.
NORTH TEXAS SALE
Sublett Holdings LLC has sold a 5,040-sf retail building on 0.63 acres at 1235 W. Sublett Rd., Arlington, to P&E Groot Family Trust. Shane Benner, vice president of Bradford Commercial Real Estate Services, represented the seller. David Newton of DFW Lee & Associates represented the buyer.
NORTH TEXAS LEASE
Deal Ark LLC has leased 5,555 sf of flex space at 2425 McIver Lane, Carrollton, from 2425 McIver Ltd. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, and Susan Singer, executive vice president, represented the landlord. Corbin Blount of DFW Lee & Associates represented the tenant.
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.
