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Fountain Parkway Disposition Happens at Optimal Time
Westmount Realty Capital LLC first purchased Fountain Parkway located at 602 Fountain Pkwy. in 1988, one of the company’s first investments. Westmount recently sold the 301,399-square-foot warehouse and manufacturing facility spanning approximately 14 acres in the Great Southwest Industrial Park in Grand Prairie.
“The culmination of this investment is particularly gratifying for Westmount,” said Cliff Booth, Westmount founder and chairman. “This building was acquired as a single-tenant facility with the original tenant ARA Industries and was transformed into a multi-tenant facility over time.”
Bollinger Industries, a manufacturer of fitness equipment, was a long-term lead tenant of this property for many years until the tenant base diversified and became multi-tenant in 2007.
“The property served our national portfolio well for a long time,” said Julie Butticarlo, Westmount’s director of asset management. “Due to demand in the Great Southwest submarket, the current cap rate compression and the low number of comparable buildings for sale, we determined it was the optimal time to sell.”
- ◦Sale/Acquisition
