We listed the Belt Line Strip Center in June 2023. Even before it officially hit the market, buyers were submitting offers near the asking price. However, the discovery process for this property was lengthy, and we ultimately realized that the allowed usage was restricted by a document from the 1980s, effectively preventing the vacant units from being leased. After navigating multiple offers, contracts, and challenges, we determined that changing the zoning ourselves on behalf of the seller was necessary.
This was no easy task. While the City of Addison was cooperative, we had to navigate multiple layers of red tape—applying, meeting with the board, and ultimately securing City Council approval for the zoning change. At the same time, finding a buyer who was comfortable with the proposed Local Retail zoning and could meet our price was equally challenging. Fortunately, we identified the right buyer and structured a creative deal that allowed them to acquire a fantastic piece of Dallas real estate with significant unlocked potential.
Our team went above and beyond for our seller. The process required considerable time and effort, but the end result was well worth it.
