Dallas Office/Medical Complex Changes Hands

Pat Davis Properties bought the office park for $11.3 million. At the time of the transaction, the four-building campus was 82 percent occupied.

By Razvan Cimpean

Forest Green Office/Medical Complex in Dallas
Forest Green Office/Medical Complex in Dallas

Marcus & Millichap recently brokered the sale of Forest Green Office/Medical Complex in Dallas. Ron Hebert, first vice president of investments in the Dallas office, and Michael Lawrence, senior managing director of investments in the firm’s Newport Beach branch, represented the seller. According to Yardi Matrix data, Pat Davis Properties acquired the property from Adler Realty Investments for $11.3 million. The sale was subject to an $11.5 million loan from Blue Vista.

Forest Green Office/Medical Complex consists of a six-story office tower, two one-story garden office buildings, as well as a flex/office building. Located at 11882, 11884, 11886 and 11910 Greenville Ave., the complex offers easy access to Interstate 635 and the LBJ Freeway. The property, which underwent cosmetic renovations in 2006, features more than 600 parking spaces. The four-building, 173,790-square-foot office campus was 82 percent occupied at the time of the sale.

Marcus & Millichap’s Ron Hebert and Michael Lawrence recently represented BH Properties in acquiring Midway Business Park, an 11-building, 235,042-square-foot mixed-use park in Farmers Branch, Texas.

Image courtesy of Yardi Matrix