Snapping up the first property for one of its managed funds, SkyWalker Property Partners has closed on a fully leased office building adjacent to Lake Granbury Medical Center in Hood County in an off-market transaction.
The property, located at 1308 Paluxy Rd., is leased for the long term to Granbury Hospital Corp. and Air Evac EMS Inc. The 73-bed hospital's administrative offices are situated in 3,888 sf of the 5,865-sf building. The medical helicopter service, which has a helipad right next door, occupies the balance.
The single-story building was developed in 1980 on nearly 0.6 acres that visually appears to be part of the hospital campus. "This investment fits all the parameters of the Cash Flow Fever Fund. The property is well-maintained, cash-flowing and strategically located," says Clint Holland, director of acquisitions and asset management for Arlington-based SkyWalker Property Partners.
Fueled by 1031 Exchange funds, the deal went full circle in roughly three weeks. "We found out about it by word of mouth," says Shane Benner, an associate with CBCA DFW. "Our team worked really hard to close this as quickly as possible." The buyer of record is Walkon Properties LLC.
The local seller, Hezakiah Holdings LP, was represented by Nick Talley, vice president of Dallas-based Bradford Commercial Real Estate Services.
The Lake Granbury Medical Center services three counties and is the only hospital in the city, which is renowned for its boutiques, restaurants, art scene and historic downtown square. Set on the banks of the Brazos River, Granbury offers year-round living and R&R getaways in a resort-style environment rich with recreational amenities, including a sandy beach, boating, waterskiing and fishing.
SkyWalker Property sources and manages investments for several discretionary funds. The investment strategy for the Cash Flow Fever Fund focuses on amassing a portfolio of stabilized or near-stabilized office, flex, warehouse and retail properties in the $1 million to $10 million range in primary, secondary or tertiary markets in Texas and surrounding states. Other criteria include manageable lease-renewal or credit risks and minimal capital improvement needs.
SALE
Walkon Properties LLC has acquired a 5,865-sf office building on nearly 0.6 acres at 1308 Paluxy Rd., Granbury, TX, from Hezakiah Holdings LP. Shane Benner of Coldwell Banker Commercial Advisors DFW represented the buyer. Nick Talley of Bradford Commercial Real Estate Services represented the seller.
Founded in 1992 as SCM Real Estate Services Inc., Coldwell Banker Commercial Advisors DFW is a full-service commercial real estate firm providing clients with expert advice and strategies customized to their particular needs. Our services include investment sales, project leasing, property management, tenant representation.
