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August 26, 2020 Comments Off on Early Education Facility Sells in Fort Worth Views: 524 Dallas-Fort Worth, Texas News

Early Education Facility Sells in Fort Worth

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Stan Johnson Company (SJC) completed the sale of a single-tenant early childhood education facility leased to Xplor Preschool. The 15,314-square-foot property is located at 4601 Huffines Blvd. in Fort Worth.

The seller, a Texas-based investment group, was represented by SJC’s Milo Spector. The buyers were individual investors based out of New York and China. The asset traded for $4.1 million.

“This transaction was significant for several reasons,” said Spector. “First and foremost, we completed this transaction during the COVID-19 pandemic; however, the school was both open and paying rent in full. Additionally, we were able to complete a somewhat complex 1031 exchange for the investors.”

Specifically, he continued, “Despite the buyers being in China during the transaction negotiation period and closing, we were able to coordinate this up-leg of their exchange, allowing them to avoid capital gains from the sale of six residential properties that closed individually at different times.”

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