Younger Partners managing principals Scot Farber and Tom Strohbehn wrapped up 2020 by brokering three property sales totaling more than 421,896 square feet in the fourth quarter. Their total for the year was 705,254 square feet.
“The market conditions of 2020 have been unprecedented,” Strohbehn said. “The three building sales in the final quarter of 2020 required creativity, flexibility and experience to complete. Each building was different and brought unique challenges. Fortunately, our relationships and understanding of the market allow us to identify and engage the right buyer for each building to overcome the greater market environment.”
The sales included the 251,332-square-foot Creekview Corp Center I & II compound, located at Greenville Avenue and Lookout Drive in Richardson, Texas. Farber and Strohbehn worked with the buyer, Exeter Property Group. The seller was Beltway Commercial Real Estate.
Located at 17330 Preston Road in Dallas, the 124,586-square-foot Preston Trail Atrium building was purchased by Dogwood Capital in partnership with an affiliate of Omaha-based Goldenrod Cos. The YP duo represented the seller, Quadrant Investment Properties LLC.
Manhattan Plaza, a 45,978-square-foot building at 6850 Manhattan Boulevard in Fort Worth was purchased by Goshen Partners, LLC. Farber and Strohbehn represented the seller, Manhattan Partners, LP.
Earlier in the year, Farber and Strohbehn also sold the 185,148-square-foot building at 2901 Kinwest Parkway in Irving, Texas; Sunwest Real Estate Group purchased the asset from iStar, which was represented by Farber and Strohbehn.
They also facilitated the sale of The Hills at Decker Court, located at 100-102 Decker Court in Irving, Texas. Benjamin Hill, LLC—represented by Lee & Associates’ Tom Grant and Brad Gilmer—purchased the 98,210-square-foot building; the seller, FN Decker Court, LLC, was represented by Farber and Strohbehn.
“The uncertainty surrounding the COVID virus and the resulting impact on the economy have forced buyers and sellers of real estate to reconsider their business plans,” Strohbehn said. “As a result, the market has slowed considerably in 2020. With the election behind us and the vaccine on the horizon, we expect the market to build momentum and begin to normalize In Q2 2021.”
Currently, Farber and Strohbehn are listing the 439,801-square-foot Oil & Gas/Star–Telegram Buildings at 307-309 W. 7th Street in the Fort Worth CBD, as well as 3203 McKinney Avenue, a 13,265-square-foot boutique building in the heart of Uptown Dallas.