Third Contract Takes 35,000-SF Industrial Asset

FORT WORTH-A locally based after-market distributor of automotive cooling parts has picked up the play for a 35,000-sf industrial property, which had two other purchase contracts fall out this year. With the sale now closed, the distributor is in the process of moving into the two-building complex in South Fort Worth.

Tripac International Inc. worked out a seller-financed deal with local company, Tatay & Tatay Inc., for 9224 Oak Grove Rd., which was listed at $1.1 million, says Todd Lambeth with Dallas-based Bradford Cos. “He negotiated pretty good. The owner was ready to do something,” Lambeth tells GlobeSt.com. “It was a good deal for both.”

An earlier deal for the complex, positioned near the Carter Industrial Park, cratered due to the demand for a sprinkler system and another would-be buyer in the past year “just couldn’t pull the trigger,” Lambeth explains. The 2.25-acre property contains a 30,000-sf manufacturing and warehouse building and a 5,000-sf office structure.

Lambeth says Tripac has just started to move into the 20-year-old complex. The new owner, with operations in Brazil and Australia, is relocating its headquarters and distribution team from a leased site at 5703 Crawford Lane, nine miles north of its just-bought property.