REBusinessOnline

Raindrop Turkish House Buys Downtown Arlington Property

ARLINGTON, TEXAS — The Central Arlington Redevelopment Group, a collection of private investors, has sold a downtown educational property to Raindrop Turkish House, a nonprofit charitable and cultural organization. The 6,624-square-foot building at 602 E. South St. was built in the mid-1950s as an elementary school wing for the former Arlington High School, which was subsequently razed and redeveloped as the headquarters of the Arlington Chamber of Commerce. The seller acquired the property in May 2007 and invested nearly $400,000 into modernizing the structure and re-tenanting it with uses aimed at stimulating investment interest in central Arlington. Raindrop Turkish House previously leased a site at 2102 W. Pioneer Parkway in the nearby town of Pantego. The Houston-based organization, formed in 2000, also has locations in Richardson and nine other Texas cities, as well as centers in Arkansas, Kansas, Oklahoma, Mississippi and New Mexico. The nonprofit addresses social and cultural needs of Turkish-Americans and facilitates integration into American society by cultivating friendships and promoting understanding of diverse cultures. Judy Nitzinger and Eric Anderson of Coldwell Banker Commercial Alliance’s Dallas office represented Central Arlington Redevelopment Group in the transaction. Loren Hillyer of Metro Texas Commercial handled negotiations for the buyer. The single-story building is situated on a 0.8-acre tract with a fenced backyard. The building is located within blocks of the University of Texas at Arlington.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Request media kit

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties