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Grapevine Offices

3500 and 3600 William D Tate Ave, Grapevine, TX

SkyWalker Property Partners deployed proceeds from the 1031 sale of the Hurst pad sites to acquire this property from CWCapital LLC. The property’s location, value-add opportunity with 48.8% occupancy and repositioning potential were key factors in the acquisition decision. Grapevine I had 2 tenants at the time of acquisition, with the remaining square footage offered for lease. Grapevine II had one occupied suite and was sold to a Dallas-based investment firm.

Asset Type:

Class B Office

Square Feet:

58,860

Date Acquired:

August 2011

Results:

Multiple 5.3X; IRR 104.21%