SCM NEGOTIATES ACQUISITION OF 3217 CALIFORNIA AND CONDO SALE

FOREST HILL, TEXAS — SCM Real Estate has completed the acquisition of 3217 California Pkwy., a single-story, 21,875-square-foot bank branch building located in Forect Hills. SCM's Theron Bryant represented the local buyer, Texas Stockyards Llano. Bryan Graham of CB Richard Ellis represented the out-of-state seller, BREOF BNK2 Texas LP. Subsequently, Bryant represented the new owner in the sale of a 10,600-square-foot condo interest in the property to the City of Forest Hill. The City plans to construct a new city hall that will contain a larger council chamber, additional offices and drive-thru lanes for water department customers. The city's police and fire departments are considering space at the new facility as well. Chase Bank will remain a tenant at the building, occupying 11,275 square feet.