October 16, 2019
Switzer Business Park Dallas L.P., led by WLA Investments of Newport Beach, CA, sold its last Texas holding. The investor sold the 123,000-square-foot Switzer Business Park in northeast Dallas to G.W. Floyd Ventures LLC of Fort Worth.
Bradford Commercial Real Estate Service’s Brian Pafford, CCIM and Jason Finch represented the seller, and have been retained by the buyer to continue leasing the project.
Located at 10840-10930 Switzer Ave., the business park consists of five buildings, situated on 6.6 acres. The asset is 95% occupied, with more than 60 tenants occupying a mix of office, industrial and flex space geared toward small to medium-size businesses.
The California partnership acquired the property in 2016 as a value-add play, investing more than $100,000 in upgrades. The new owner also has a value-add opportunity, based on current market conditions. “The new owner will be able to take advantage of the market and push rents with renewals and new deals,” Pafford said.
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