Bledsoe arranges disposition of former Luke Honda properties for future mixed-use development
ARLINGTON, TX – – Henry S. Miller Brokerage’s Bill Bledsoe, Automotive Real Estate Specialist of the Dallas-Fort Worth Investments/Land Division, recently represented the owners of the former Luke Honda Dealership (400 Division, LP a subsidiary of The Van Tuyl Group) in the sale of this commercial real estate portfolio in Arlington, Texas.
The former Honda dealership included multiple buildings totaling approximately 60,000 square feet on more than 5 acres along Division Street, East Street & Front Street in the heart of Downtown Arlington. Ryan Dodson, with Dodson Development, recognized the redevelopment potential and, along with fellow Arlington investors Alan Petsche & Victor Erwin, acquired the property earlier this month as Urban Union, LLC, for an undisclosed amount.
Dodson has recently completed several projects in Downtown Arlington, including Block 300, the popular Abram Street destination that’s home to Flying Fish, Twisted Root & Hooligans Pub among others. Petsche, a long-time Arlington business owner and graduate of UT Arlington, is currently restoring the iconic Candlelight Inn on Division Street.
Together, Dodson & Petsche have big plans for the former dealership. The duo envisions restaurants and entertainment venues along with unique office spaces, executive suites and co-working space designed to attract start-ups, entrepreneurs & established businesses.
“The demand to be in Downtown Arlington continues to grow” said Dodson, “This project is a great opportunity to create a unique environment attractive to not only restaurants, but businesses that appreciate creativity & want to be located in a centralized, walkable location. The exposure and access on Division is great, but the fact that we have so much property along East & Front Streets is the key. Alan and I share a very optimistic vision for Downtown and this project is a natural collaboration.”
With its convenient setting & close proximity UT Arlington, Urban Union is ideally positioned to take advantage of UT Arlington’s growing research initiatives, Tier One status goals & surge of start-up activity generated by the University.
Urban Union is still in the early stages of planning, but expect some big changes on Division Street as early as next year.
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