California-Based Investor Sells 19,724 SF Walnut Plaza in Metro Dallas

by Haisten Willis

MANSFIELD, TEXAS — A California investor has sold the 19,724-square-foot Walnut Plaza to a local limited liability company in an all-cash transaction. The property is 81 percent leased to tenants including H&R Block and Rent-A-Center and was developed in 1985. Walnut Plaza is situated on a 1.3-acre tract with frontage along FM 157 in Mansfield. Joe Hamilton of Coldwell Banker Commercial Alliance represented the seller, Stanley Fong, who has owned the property at 2000 FM 157 since 2005. The new owner, 2000 Walnut Plaza LLC, plans to renovate the property as part of its investment strategy. In the past decade, the population has more than doubled to 77,000 residents in the three-mile trade area. The average household income tops $101,100 in a one-mile trade area. Bob Kent of Kent Realty in Addison represented the buyer.

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