CASE Commercial Real Estate Partners Closes on Sale of 5 Acre Hotel Site in Coppell, Texas
Dallas, TX, November 10, 2012 --(PR.com)-- CASE Commercial Real Estate Partners (CASE) is pleased to announce the sale of 5 acres of vacant land on the east side of Point West Boulevard, south of Dividend Drive in Coppell, Texas. Zoned for full service hotel, the developer, Sava Holdings, designed a concept to fit the desires of the city and the needs of the market. The current plan includes two limited service hotels connected by a conference center in the middle. The development will be a great addition to Duke’s Freeport business park which sits adjacent to the site.
CASE’s Land Services Team of Bruce Endendyk, managing director and John Endendyk, senior director, and Collin Prater, associate, marketed the asset on behalf of the seller, Branch Banking and Trust (BB&T Bank). BB&T Bank is a leading financial holding company that foreclosed on the property in 2010. The property was sold for an undisclosed amount to Zenosh LLC.
“There was a lot of interest in this property with different groups wanting to build in this area,” said Prater. “We saw no activity on the site for almost a year and within a week we had four offers and continued to get interest until the deal closed, which is a good sign for growth in that area.”
The site is located at the confluence of Interstate 635 and Belt Line Road, near a heavy concentration of businesses, hotels and residential neighborhoods. Approximately one mile from the world’s third busiest airport, Dallas/Fort Worth International Airport, the property is situated in a heavily traveled sector of the Dallas/Fort Worth metropolitan area. Other major roadways supporting the property include State Highway 114, State Highway 121, and State Highway 161.
About CASE Commercial Real Estate Partners
Founded in 1986, CASE Commercial Real Estate Partners is an independent full service commercial real estate firm headquartered in Dallas, TX with offices in Fort Worth, Austin, Houston, and San Antonio. CASE provides tenant representation, global corporate services, property management and leasing, lease administration, construction and project management, investment sales, development advisory, and sustainable workplace, among other specialized client services. Globally, CASE is part of the TCN Worldwide organization of independent commercial real estate firms providing complete integrated real estate solutions locally and internationally. With approximately $20.7 billion in annual transactions and over 80 million square feet of space under management, the organization ranks as one of the largest service providers in the industry. For more information, visit www.casecre.com.
CASE’s Land Services Team of Bruce Endendyk, managing director and John Endendyk, senior director, and Collin Prater, associate, marketed the asset on behalf of the seller, Branch Banking and Trust (BB&T Bank). BB&T Bank is a leading financial holding company that foreclosed on the property in 2010. The property was sold for an undisclosed amount to Zenosh LLC.
“There was a lot of interest in this property with different groups wanting to build in this area,” said Prater. “We saw no activity on the site for almost a year and within a week we had four offers and continued to get interest until the deal closed, which is a good sign for growth in that area.”
The site is located at the confluence of Interstate 635 and Belt Line Road, near a heavy concentration of businesses, hotels and residential neighborhoods. Approximately one mile from the world’s third busiest airport, Dallas/Fort Worth International Airport, the property is situated in a heavily traveled sector of the Dallas/Fort Worth metropolitan area. Other major roadways supporting the property include State Highway 114, State Highway 121, and State Highway 161.
About CASE Commercial Real Estate Partners
Founded in 1986, CASE Commercial Real Estate Partners is an independent full service commercial real estate firm headquartered in Dallas, TX with offices in Fort Worth, Austin, Houston, and San Antonio. CASE provides tenant representation, global corporate services, property management and leasing, lease administration, construction and project management, investment sales, development advisory, and sustainable workplace, among other specialized client services. Globally, CASE is part of the TCN Worldwide organization of independent commercial real estate firms providing complete integrated real estate solutions locally and internationally. With approximately $20.7 billion in annual transactions and over 80 million square feet of space under management, the organization ranks as one of the largest service providers in the industry. For more information, visit www.casecre.com.
Contact
CASE Commercial Real Estate Partners
Suzi Smith
972-759-7856
www.casecre.com
Suzi Smith
972-759-7856
www.casecre.com
Contact
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