Thursday, July 5, 2007

Mayor Sells at Premium Price

Mike Rader, developer of the Sunridge Business Park on Pleasant Run Rd., was quoted in the Dallas Morning News saying that commercial property in the Wilmer area is selling for a one dollar ($1) per square foot. Confidential sources of the Dallas County Appraisal District (DCAD)report that commercial property on North Goode Road recently fetched $1.56 per square foot - a fifty-six percent premium over the typical price alluded to by Mr. Rader
. Mr. Rader could not be reached for comment. Mayor Hudson previously declined questions about the sales price as a non-disclosure agreement was in effect. Sources close to the Mayor disclosed that the actual sales price was somewhat lower than the $1.56 price quoted by DCAD and included other consideration.