Canadian Firm Buys 112 KSF Office Building in Dallas
- Feb 03, 2017
Dallas—HFF has closed the sale of 2525 McKinnon, a 111,722-square-foot, Class A office building in Dallas’ Uptown submarket. HFF represented both the seller and the buyer in this transaction. Canada-based City Office REIT purchased the asset from Talon Private Capital for an undisclosed amount.
Located at 2525 McKinnon St., the office property is situated on a 0.86-acre site in the core of Uptown, across from the recently-completed McKinney & Olive office tower that features 50,000 square feet of retail space. The property is within walkable distance from all of Uptown’s amenity base. According to Yardi Matrix data, 2525 McKinnon boasts seven stories of office space that was 96 percent leased at the time of purchase. The Retail Connection, Aramark Service, Staffelbach, Hunt and Berkeley Research are among the property’s tenants. Built in 2002, common area amenities include controlled access and a covered parking with 334 parking spaces.
Talon Private Capital acquired the property back in 2013 from KBS Realty Advisors for $22 million or $201 per square foot.
Recently, City Office REIT also acquired Park Tower, a 36-story office building in Tampa’s CBD, for $80 million.
Image courtesy of Yardi Matrix