CBC Advisors Brokered the Sale
FORT WORTH, TX (September 25, 2017) – Arrington Outdoor Advertising LP has sold a four-building office project in northwest Tarrant County to a local insurance agency.
The buyer, Lew Gil-Moore Cos. LLC, is planning to occupy the only vacant building in the multi-tenant complex at 800 Jim Wright Freeway in the city of White Settlement, a cattle drive outpost along the legendary Chisholm Trail during the 1800s. Situated less than 10 miles west of Fort Worth, the city of nearly 17,000 residents today is recognized for its family-friendly neighborhoods and park facilities, including the municipal-owned Splash Dayz Waterpark.
Key to the sale is the property’s visibility from Loop 820 and an existing freeway-fronting monument sign that will soon sport the insurance agency’s name. “It provides high visibility for his business and is a good investment,” says Casey Tounget, an associate with Coldwell Banker Commercial Advisors DFW. He and Theron Bryant, a CBC Advisors DFW principal, represented the seller.
The four buildings total 9,180 sf. They originally were built as model homes and later served as a church campus before being repurposed to a multi-tenant asset under Arrington Outdoor Advertising’s watch. The seller did carve out a pad site for future use.
Lew Gil-Moore will occupy the project’s smallest building, totaling 1,372 sf. The other structures are leased to StubGroup Advertising (3,654 sf), Therapy on Demand (2,199 sf) and UBuildIt (1,895 sf). Brian Tobey of the Makens Co. represented the buyer.
“The success was finding the right buyer,” Tounget says. “An owner-user is the perfect fit for this kind of complex.”