In 1993 and 1994, a German investor represented by International Capital acquired two commercial properties in Irving, Texas. After a holding period of almost 30 years, International Capital was able to successfully sell both properties to a local property portfolio holder.
Today the sites along busy North Beltline Road feature two well-frequented restaurants.
A Taco Bell has been located on the 32,200 SF property since 2001 and early exercised its first lease extension to 2026. The second property is leased to a family-run Mexican restaurant. The building contains 2,200 SF rentable area and is located on the site adjacent to Taco Bell.
Over the long holding period, the two properties were leased to a total of only five tenants and earned the investor attractive annual returns in addition to the realization of the increase in value at the time of sale. Martina Crevecoeur, CCIM, International Capital’s Senior Vice President of Acquisitions/Dispositions represented the investor in the transaction.