Arlington, TX (December 5, 2012) –
A 363,000 square foot Six Flags Mall facility on 25 acres of land Arlington, TX sold for an undisclosed amount.
“This was a fairly complex transaction that had many moving parts,” said Ken Wimberly, CCIM, Managing Director of KW Net Lease Advisors, “We ended up in a competitive bid situation and once we finally made it to contract there were many hurdles to overcome with regard to existing REA’s, parking issues, restrictive covenants, and mineral rights. We engaged an experienced legal team to help navigate the transaction and ended up closing just before Thanksgiving,” said Wimberly. “Our client will now begin the remodel and re-tenanting of the mall property under the new mall name of Plaza Central.”
Ken Wimberly, CCIM of KW Net Lease Advisors, a Texas based investment real estate brokerage & advisory firm, Wimberly represented Mr. G. L. “Buck” Harris in the acquisition of the mall property. When asked why he would tackle such as considerable project at this late stage in his life, Mr. Harris’ answer is always, “God led me.” His ultimate plans are to gift Plaza Central to a Christian organization, Youth With a Mission, which has over 24,000 serving in almost every country in the world.
The Seller was represented by Brad Cruickshank of the Woodmont Company.