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G-Catch Acquires Industrial Property At 2525 Handley Ederville Road From Bridge Cap Partners

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G-Catch Acquires Industrial Property At 2525 Handley Ederville Road From Bridge Cap Partners

2525 Handley Ederville Road

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Industrial4 SF
Sold
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Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:4 SF
Transaction Type:Sale

The transaction involved the sale of a four-acre parcel located at 2525 Handley Ederville Road in the industrial market of Richland Hills. This site was previously occupied by a 150,000-square-foot facility known as Advanced Foam Recycling, which was destroyed by a fire in 2021. Following the fire, the structure was demolished, and the site was acquired by the seller, Bridge Cap Partners, in 2022 as a strategic investment opportunity. The property is situated near major thoroughfares, including Interstate 820 and State Highway 121, enhancing its accessibility for servicing both Fort Worth and Dallas.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not disclosed
  • Address: 2525 Handley Ederville Road
  • Market: Richland Hills
  • Buyer: G-Catch
  • Seller: Bridge Cap Partners
  • Buyer's Representative: Forrest Cook - Stream Realty Partners
  • Seller's Representative: Michael Ytem - Younger Partners
  • Notable Detail: The property sold within three months of its listing date.

Forrest Cook, serving as the Senior Vice President at Stream Realty Partners, represented G-Catch in this transaction. Michael Ytem, the Senior Vice President at Younger Partners, represented Bridge Cap Partners. Ytem stated that the site's location was a significant factor in driving interest, noting that it sits at the boundary where the East Fort Worth submarket meets the Mid-Cities. Cook highlighted that the new owner has plans to develop flex and retail buildings on the property, capitalizing on the demand for industrial spaces in the area.

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Details

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IMAGE: Forrest Cook & Michael Ytem DATE: 06/30/2024 ADDRESS: 2525 Handley Ederville Road MARKET: Richland Hills ASSET TYPE: Industrial BUYER: G-Catch SELLER: Bridge Cap Partners BUYER'S REP: Forrest Cook - Stream Realty Partners (@StreamRealtyPartners) SELLER'S REP: Michael Ytem - Younger Partners (@YoungerPartners) NOTE FROM BROKER: Younger Partners Senior Vice President Michael Ytem successfully negotiated the sale of a four-acre parcel zoned business park in the active East Fort Worth submarket. Ytem represented the seller, Bridge Cap Partners, in the 2525 Handley Ederville Rd. transaction. Forrest Cook, a Senior Vice President at Stream Realty Partners, represented the buyer, G-Catch. The site near Interstate 820 and State Highway 121 once held the 150,000-square-foot Advanced Foam Recycling, which was destroyed in a fire in 2021. Following that event, the structure was razed, and the pad scraped, with the seller acquiring it in 2022 as an opportunistic play. “The location drove interest in the site. It’s at the very edge of where the East Fort Worth submarket ends and the Mid-Cities begins,” Ytem added. “With major thoroughfare access, it’s ideal for servicing both Fort Worth and Dallas.” The property sold within three months of its listing date. “The buyer was highly motivated to close on this deal,” Ytem said. Cook said that the new owner is an established player in the DFW market, with plans to build flex and retail buildings on the acreage. “East Fort Worth continues to be a highly sought-after industrial market due to high barriers to entry coupled with excellent labor and connectivity with the Dallas-Fort Worth Metroplex,” he added.

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