A little more than a year ago Jim Tanner assembled several properties on Jefferson Highway with the idea of developing luxury condominiums. He acquired an upscale strip shopping center on Jefferson Highway, which is occupied by Imelda’s and Luxury Nails. He also acquired the adjoining office building at 7855 Jefferson Hwy., occupied by Denton James Construction. With the number of luxury condominiums available Tanner decided to put the project on hold and sell some of the property he had assembled. According to Beau Box, who brokered the transaction, the combined area of both buildings was about 14,000 square feet. Tanner traded the property to Jefferson RE MSK Properties for a reported price of $2.1 million or about $150 per square foot last week.
— Another transaction that took place on Jefferson was the sale of a vacant lot adjoining the Beau Box Commercial Real Estate office. The property is on the west side of Box’s office and sold last week for $430,000, or $14.70 per square foot for the 29,250-square-foot site. Box brokered the transaction. This is a relatively high price for an interior lot but reflects the desirability of the location. The new owner, Brown Rogers Physical Therapy, will construct a new building for owner occupancy.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)
