Cawley Partners, Staubach Capital Acquire 2 DFW Office Properties
- Jan 12, 2021
The joint venture of Cawley Partners and Staubach Capital has acquired two Class A office properties at a 475,000-square-foot campus in Southlake, Texas. Sabre Corp., a travel software company, has signed a 265,000-square-foot lease at the first asset and a short-term, 210,000-square-foot lease at the second one. According to CommercialEdge, the tenant acquired the buildings in 2007, from J.P. Morgan Asset Management. The buyer financed the acquisition with a $85 million loan from Bank of America.
Built in 2000, the campus includes more than 1300 parking spaces. The new owner plans to invest in capital improvements at the campus, including a fitness center, food service, locker rooms, outdoor gathering area and meeting rooms. Cawley is also set to manage and lease the second building.
Located at 3120 and 3150 Sabre Drive, on 25 acres, the properties are within 10 miles of Interstate 35W. The campus is 14 miles from Dallas/Fort Worth International Airport and 22 miles from downtown Fort Worth. The assets are also within 20 miles of a 104,400-square-foot office property which recently traded. Dallas County acquired the building from a Florida private investor.