SkyWalker Property Partners purchased a 70k SF office/warehouse space in Euless with plans to invest capital into upgrading the 37%-leased property to build out spec space.
SkyWalker purchased the property (1101 Pamela Dr) for its Hangover Opportunity Fund from Invensys. The single-story building on 4.1 acres has 40k SF of available shell space, says Coldwell Banker Commercial Alliance DFW’s Theron Bryant (pictured with his daughter, Ava, in Vail), who repped the buyer. Colliers International’s Allen Gump repped the seller. Theron tells us the value-add opp is perfect for SkyWalker, which has a knack for turning properties around. CBC first managed the asset for its former owner and then Invensys.
Zoned light manufacturing, the 47-year-old building was remediated, earned a clean bill of health and had been under contract several times through the years, he tells us. Upcoming improvements include installation of AC and power in the shell space and construction of a 7,500 SF spec suite with 20% office. The ready-to-occupy space is going to be very helpful, Theron says, because it will offer choices to smaller tenants at some of the most competitive prices in the Mid-Cities submarket for clean, quality industrial space. Two long-time tenants (occupying 26k SF since the ‘90s) made the deal attractive, he tells us.
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