Single-Tenant Property Trades in Airport Submarket

Georgia-based Alpha Insulation & Waterproofing Inc. sold its 17,748-square-foot regional office building to HCCP 1010 East Dallas LLC, following a bidding war among a half dozen owner-users jockeying for a spot in the Dallas-Fort Worth Airport submarket. The sales price was undisclosed, however, the one-acre property at 1010 E. Dallas Rd. in Grapevine, TX commanded top dollar following a six-week market run.

“We set our expectations high and over-achieved it due to the strength of the market. Due to the leverage we had, the buyer took the property as-is,” says Joe Santaularia with Bradford Commercial Real Estate Services. He and Bradford’s Brock Wilson represented the seller. Michael McGee of McGee & Associates represented the local buyer, who will occupy part of the structure and lease the balance.

Alpha Insulation will be relocating in April to Lewisville, TX, where it will be expanding and occupying newer space at 301 Leora Lane.

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