June 6, 2017
Hangover Opportunity Fund LLC sold a 70,111-square-foot industrial flex property in the Mid-Cities to JPA Capital LLC of Dallas. The sales price of the property at 1101 Pamela Dr. in Euless, TX was undisclosed; the asset is assessed at $1.7 million. Casey Tounget and Theron Bryant with Coldwell Banker Commercial Advisors DFW represented the seller.
Key to the sale was 37,290 square feet 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.
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.
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