BH Properties Sells Business Park in Texas
- Apr 13, 2017
BH Properties closed the sale of Midway Business Park, an 11-building, 235,042-square-foot mixed-use park development in Farmers Branch, Texas. Marcus & Millichap’s First Vice President of Investments Ron Hebert and Senior Managing Director of Investments Michael Lawrence, represented BH Properties.
Located at 13604-13740 Midway Road, the business park is in proximity to the LBJ Freeway and the Dallas North Tollway. The campus includes 18,000 square feet of retail and more than 1,100 parking spots.
“Midway Business Park has a great mix of office, retail and flex space,” said Hebert, in prepared remarks. “The asset provides new ownership with income from a stable, growing tenancy and the opportunity for redevelopment in the long term.”
According to Yardi Matrix, BH Properties acquired the asset in 2008 from Capital Development, as part of a $22 million portfolio transaction. The sale included more than 185,000 square feet of retail space and more than 335,000 square feet of office space.
Image courtesy of Yardi Matrix