Single-Tenant Net-Leased Headquarters Building Trades Hands in Suburban Dallas/Fort Worth
June 23, 2020
LEWISVILLE, Texas, June 23, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of the Caliber Collision Headquarters, a two-story, 80,038-square-foot Class A office complex in Lewisville, Texas.
“This is a legacy site surrounded by other notable company headquarters in a northern Dallas/Fort Worth submarket,” said Alvin Mansour, executive managing director investments, The Mansour Group of Marcus & Millichap. “Caliber Collision, the nation’s largest and leading auto collision repair operator, is on a long-term absolute net lease. Again, we see quality net-leased investments weathering recent turbulence in the market.” Alvin Mansour and Kevin Mansour represented the seller and procured the buyer, who completed a 1031 exchange with the sale of a multifamily property in Southern California.
Built in 2006 on a 5.8-acre lot and renovated by Caliber Collision in 2018, the property is less than 25 miles north of Downtown Dallas, surrounded by other major corporate headquarters such as AT&T, American Airlines, GameStop, Southwest Airlines and many more. The Music City Hall and Grapevine Mills shopping malls are close by, as are major employers Xerox, Bed Bath & Beyond, FedEx Freight, Sysco and Kellogg’s. The city of Lewisville is served by three major transportation corridors—Interstate 35E, President George Bush Turnpike, State Highway 121—and has three commuter rail stations that tie into the Dallas Area Rapid Transit system.
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With more than 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of $49.7 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.