DBSI Buys 39,609-SF Motor Coach Industries Regional HQ

DALLAS-DBSI Group of Cos. has grabbed another Dallas/Fort Worth deed in a coast-to-coast shopping spree with a $1-billion pool. The latest to fall into the portfolio is a single-tenant, double net-leased office building locked down through February 2014.

The Schaumburg, IL-based Motor Coach Industries regional headquarters at 9787 Clifford Dr. in Dallas’ South Stemmons/West Brookhollow submarket traded 29 days after the contract was placed by the Boise, ID-based tenants-in-common buyer, who picked up its fourth Texas deed this year with the takeover. Seventeen would-be buyers eyed the $3.9-million listing, but most backed off due to concern about the bus manufacturing industry’s sagging orders, Ron Hebert with Marcus & Millichap in Dallas tells GlobeSt.com. “Because of the financials, a lot of people were concerned…and did not want to move forward,” he says, adding DBSI was the highest offer of those investors who stayed in the running.

The 39,609-sf building on 4.7 acres has been up for sale since 2002 by the five-year-old build-to-suit’s developer, Stemmons Storey of Dallas, led by the locally based Realty America Group. Hebert and Marcus & Millichap colleague Scott Ryan got the listing in April and carried it to the closing table in six months. Dallas County assesses the property at $2.9 million.

Hebert says the building, which traded free and clear, includes a showroom for Motor Coach Industries’ buses and 32% office finish-out. The regional headquarters is two miles west of Love Field and a half mile south of the FBI’s Texas stronghold.

In mid-June, Hebert closed the sale of the 93,087-sf Greyhound Lines Inc. headquarters in North Dallas. “I guess I’ve cornered the bus market,” he says.