Sold: NNN Flex Condo on SH 121 in Lewisville

Field Commercial Real Estate sold Suite 105 at 2601 E State Highway 121 in Lewisville to a 1031 exchange buyer. Field CRE held the exclusive listing.

The Asset

A 2,118 SF flex/showroom condo built in 2023, leased to a single tenant on a NNN basis, in a newer flex condo project near Grandscape. New construction, in-place income, and nothing for a buyer to fix.

How We Ran It

This was positioned as a pure investment sale, not an owner-user opportunity. 1031 buyers are working against a clock. They need a stabilized asset they can underwrite quickly and close with certainty, so the marketing led with yield, the NNN structure and the corridor, kept pricing to qualified buyers only, and kept the tenant confidential throughout.

What It Says About the Market

Small-format NNN flex is one of the most sought-after products for private 1031 capital in DFW, and supply is thin. Owners of newer flex condos with a tenant in place have more leverage than they think, especially along the SH 121 corridor between Lewisville and The Colony.