Hangover: distress to TLC for 140,000 SF in CleburneHangover: distress to TLC for 140,000 SF in Cleburnehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=135402016-06-16T05:00:00Z2016-06-16T18:20:00Z

​​​​CLEBURNE, JOHNSON COUNTY - A fully leased, three-building industrial property on 16.8 acres in southeastern Johnson County has sold in an all-cash transaction to a private investor from Houston. 

Hangover Opportunity Fund ​has spent roughly $250,000 into turning around the 144,698-sf Grandview Industrial Complex, which was nearly 88 percent vacant when it was bought out of foreclosure three years ago.

The fund's manager, SkyWalker Property Partners, immediately undertook a major upgrade of the shuttered RV conversion plant and subsequently signed three long-term tenants, each leasing an entire building at 8800 FM 916.

The largest building, 82,210 sf, is leased to Noltex Truss DFW Inc.

The 44,988-sf warehouse is occupied by Leland's Industries LLC and the smallest structure, 17,500 sf, is home to AES Drilling Fluids LLC.

All three are in place at least three more years.

The property is near I-35W.

"It was a classic Hangover deal. It was a distressed property and it needed love," says Clint Holland, acquisitions director and asset manager for SkyWalker Property Partners.

Listen to Podcast 304 for this story and more.​​​
Dallas-Fort Worth-Arlington

​See Dallas Industrial Market Research. ​

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