Recent Office Sales In Dallas

By Author: Patrick Oconnor
Total Articles: 42
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The real estate market of Dallas recorded declines for office properties sales over the 12-month period. 39 properties were sold in December 2011 which shows a decrease of 15 properties when compared to December 2010. In terms of gross square-feet there was a decrease of 13.5% when compared to 2010. Below are some of the notable office sales that were recorded in the Dallas market.

In December 2011, Quality Properties Asset Management Company, an entity of Bank Of America N A , has purchased The Meridian, a 225,000 square-foot, Class A office building located at 2711 LBJ Freeway in Dallas, Dallas County, from YPI Meridian Partners LP, an entity of Younan Properties Inc. The traditional building is located on the north of LBJ Fwy, to the south of Villa Creek Dr and to the east of Metro Blvd. The office building has access to LBJ Fwy and Villa Creek Dr. The multi-tenant property is situated on 4.71 acres. According to the appraisal district records, the total assessed value of the property is $6.81 million. The gross building area of the property is 225,800 square-feet. The class A building has 165,224 square-feet available ...
... for lease and the rent type is gross. The 28-year-old property is just over 26% occupied with average rents at $14.00 per square foot. The 10 story building has no parking spaces. Major tenants include Open Connect Systems Inc, Kolter Property Management, Kb Home, Etas Corp and Intec.

Another remarkable sale in the month of December is the sale of One Summerside Place. Karis Enterprises LLC, an entity of SIG Insurance Professionals has purchased One Summerside Place, an office building located at 5999 Summerside Drive in far north Dallas, Collin County, from Acron One Summerside Place LP, an entity of Acron US Holding Corp. The traditional building is located on the north of Summerside Drive. The access to the building is limited to Summerside Drive. The multi-tenant property is situated on 0.84 acres. According to the appraisal district records, the total assessed value of the property is just over $2 million. The gross building area of the property is 36,267 square-feet. The class C building has 8,461 square-feet available for lease and the rent type is triple net. This office building has 174 open parking spaces. The 28-year-old property is 77% occupied with average rents at $14.50 per square foot.

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