Modoc Properties LLC has acquired one of six office buildings in The Medical Centre, a niche project situated within walking distance of the 369-bed Texas Health Arlington Memorial Hospital.

The Fort Worth investor has snapped up a 7,156-sf medical office building divvied into two suites at 911 Magnolia St. in central Arlington. A triple-net lease is in place with a pulmonary group for 5,308 sf or 74% of the space.

"Modoc Properties has been looking in North Texas for some time. It is a good fit for its portfolio," says Shane Benner, vice president in the Fort Worth office of Dallas-based Bradford Commercial Real Estate Services, who negotiated the acquisition for his longtime client.

The single-story building was developed in 1984 along with the other five buildings. The Medical Centre Owners Association manages the property.

"It was simply a good deal from Day One. There is an immediate return with minimal management burden," Benner says. "It's a home run once the balance of the building is leased."

David Dunn of SVN|Dunn Commercial Real Estate represented the seller PCT Leasing & Service Co. Worthington National Bank financed the acquisition.

NORTH TEXAS SALE

Modoc Properties LLC has acquired a 7,156 office building at 911 Magnolia St., Arlington, from PCT Leasing & Service Co. Shane Benner, vice president of Bradford Commercial Real Estate Services, represented the buyer. David Dunn of SVN|Dunn Commercial Real Estate represented the seller.

NORTH TEXAS LEASES

Oh Zone Clinics LLC has leased 4,363 sf of office space in Highland Park West, 4300 MacArthur Ave., Dallas, from 4300 MacArthur Partners LP. Richmond Collinsworth, first vice president of Bradford Commercial Real Estate Services, and Jared Laake, vice president, represented the landlord. Jeremy Gray of Gray & Co. Realtors Inc. represented the tenant.

Legendary Black Belt Academy has leased 4,183 sf of retail space in Alpha Plaza, 4887 Alpha Rd., Farmers Branch, from Kennington Alpha Plaza LLC. Melanie Hughes, senior vice president of Bradford Commercial Real Estate Services, and ElizabethHooper, market director, represented the landlord. Lynn Sivertsen of Better Homes & Gardens Winans represented the tenant.

Bradford Commercial Real Estate Services/CORFAC International is a full-service real estate company based in Dallas with an annual transactions volume exceeding five million square feet. The company manages and leases more than 20 million square feet, valued at $300 million, in North Texas for its strategic partners.