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6/29/20
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A 1031 exchange private investor purchased the Caliber Collision Headquarters, a two-story, 80k sf Class A office complex in Lewisville, TX. The price was not disclosed.
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.
Alvin Mansour and Kevin Mansour with The Mansour Group of Marcus & Millichap represented the seller and procured the buyer, who completed a 1031 exchange with the sale of a multifamily property in Southern California.
“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.”
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