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Early Education Facility Sells in Fort Worth
Stan Johnson Company (SJC) completed the sale of a single-tenant early childhood education facility leased to Xplor Preschool. The 15,314-square-foot property is located at 4601 Huffines Blvd. in Fort Worth.
The seller, a Texas-based investment group, was represented by SJC’s Milo Spector. The buyers were individual investors based out of New York and China. The asset traded for $4.1 million.
“This transaction was significant for several reasons,” said Spector. “First and foremost, we completed this transaction during the COVID-19 pandemic; however, the school was both open and paying rent in full. Additionally, we were able to complete a somewhat complex 1031 exchange for the investors.”
Specifically, he continued, “Despite the buyers being in China during the transaction negotiation period and closing, we were able to coordinate this up-leg of their exchange, allowing them to avoid capital gains from the sale of six residential properties that closed individually at different times.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
- ◦Lease
