Burkett Media sold four high profile digital billboard faces in Dallas to Lamar. Drachman M&A Co represented Burkett on the transaction. We talked with Burkett Media founder Beau Burkett.
What locations did you sell?
Two new 14×48 billboards with back to back LED digital units on all faces. Acquired two older signs and got approval after numerous meetings and discussions with city staff and council to allow variances to demolish and rebuild. The newly built signs are a major aesthetic upgrade. Both signs are 75 feet tall (about 20-25 feet taller than before creating perfect visibility from all interstate travel lanes). Both signs have full stone cladding up the entire sign pole. I went an extra step and took all electrical underground and also added both masonry and landscaping enhancements fully at my cost to beautify the sign sites. The city welcomed this and also valued having a voice in the final product. It was a real win, win for all parties.
What factors led to the sale?
These are both extremely high profile locations that fit the footprint of the major operators really well. At some of the highest traffic counts in the entire DFW market, I was simply presented with an offer that made sense and Lamar will be a great operator for these assets. Both assets compliment their existing inventory really well. Working with Lamar and their team was really smooth and seamless, I really thankful for how quickly they worked the deal through.
Did you keep other signs?
Yes, I only sold these two signs off, I’ve kept and will continue to operate all my other signs throughout Texas.
What’s next?
Just keep doing what I’ve been doing… I have additional permits ready to build and am pursuing similar opportunities in other major metro areas. I’m excited about future projects and continuing to learn more as I go.
Here’s a picture of one of the signs which I sold. It’s on I-820 @ Toll 183 Interchange.
