CORFAC News

FOR ADDITIONAL INFORMATION:
Karen Simon, 817-921-8171
Erik E. Blais, 817-921-8179

Dallas, TX (November 18, 2013) – Sapience Partners Ltd. has sold a 43,428-sf, two-story office building in Tarrant County to a financial services company for its new headquarters.

In an all-cash transaction, Calvert Family Holdings of Colleyville, which specializes in automobile financing, has acquired 1320 Tennis Dr. in Bedford. The empty class B building had once housed Sapience's restaurant software development business, Aloha POS, which was sold to NCR Corp. in 2011.

"This building is in remarkably good condition for being vacant so long," says Karen Simon, executive vice president and managing partner of Bradford Commercial Real Estate Services/CORFAC International. She and Erik E. Blais, Bradford's market director, represented the seller.

During the course of the marketing, the seller had received several offers from churches and schools due to the office building's design and amenities – an open atrium, high-quality executive offices, basketball court, two racquetball courts, gymnasium, commercial kitchen and covered swimming pool. Completed in 1981, the structure originally was a health club.

The software developer had outfitted the building with heavy power and extensive networking capability, both of which are ideally suited to Calvert Family Holdings' business needs. The 3.2-acre property also has a 3.5 per 1,000 parking ratio.

The property is directly behind a vehicle dealership and close to Airport Freeway and Texas 121 and 183 in a neighborhood of retail and multifamily complexes.

"The property has been sold to someone looking for value," Simon stresses, "and it sold well below replacement cost. It has very nice executive offices and large pods with multi-tenant potential if the buyer chooses."