Harbert Management Buys 360KSF Mixed-Use Development in Dallas

HFF has arranged the sale and acquisition financing for Plaza at Solana, working on behalf of seller Equity Office and buyer Harbert Management Corp.

By Adelina Osan, Associate Editor

DallasHFF has closed the sale of and arranged acquisition financing for a mixed-use development in the suburban Dallas community of Westlake. The 359,873-square-foot, three-building office and retail asset was acquired by Harbert Management Corp. from Equity Office.

Plaza at Solana
Plaza at Solana

HFF worked on behalf of the new owner to secure the five-year, fixed-rate acquisition loan with one two-year extension through LegacyTexas Bank.

Plaza at Solana is located at 1301 Solana Blvd. within the Solana Business Park, a mixed-use development featuring offices, a Marriott hotel, a Larry North Fitness Club, retail, restaurants and jogging trails.

The property’s location at the intersection of Solana Boulevard and State Highway 114 allows for access to the entire north Texas region via State Highway 114, U.S. Route 377 and Interstate 35. Plaza at Solana is proximate to Dallas/Fort Worth International Airport, Southlake Town Square and three of Dallas-Fort Worth’s top-four suburbs. The buildings are leased to a variety of tenants, including Wells Fargo, Verizon Wireless, Audatex, Echo Locum Tenens, Pfizer, Western & Southern Life Insurance Co. and Midwest Hospitality.

Image courtesy of Plaza at Solana