Admiral Capital Group Buys 2 Dallas-Area Office Assets
- Feb 22, 2019
Admiral Capital Group has acquired two Class A office assets in the Dallas area. The purchase was made through its core-plus investment platform, which was launched in 2018. These acquisitions are an expansion of the platform that includes properties located in San Diego and Phoenix, focused on Class A office buildings in high job growth metros.
Totaling 260,000 square feet, the purchase included Duke Bridges III in Frisco, Texas, and Parkwood Place in Plano, Texas. Stream Realty Partners will serve as the leasing and property management team for both assets. Duke Bridges III features 161,131 square feet across three stories. The property was constructed in 2007 and is currently 94 percent leased. Parkwood Place features 98,750 square feet across three buildings. Amenities include a tenant lounge and a conference room. The building was constructed in 2005 and is 76 percent leased to 20 tenants.
“The north Dallas submarkets have long been a major focus for Admiral due to the rapid job growth and growing demand for economical alternatives to the new supply in the market,” said Dan Bassichis, co-founder of Admiral Capital Group, in a prepared statement.
Last summer, Admiral Capital Group acquired The Balboa Executive Center, a Class A office building in San Diego.
Image courtesy of Admiral Capital Group