Mohr Capital Buys Dallas Office Building for $35M
- Mar 11, 2020
Mohr Capital has acquired 4851 LBJ, a 200,000-square-foot office building in Dallas, for $34.5 million. According to Yardi Matrix, the previous owner was Champion Partners, who purchased the asset in 2015 from Younan Properties.
The new owner plans to implement a $2 million capital improvement program at 4851 LBJ, which was 90 percent leased at the time of sale. Yardi Matrix data also shows that the property came online in 1985 and was renovated in 2013 and 2020. Located at 4851 Lyndon B. Johnson Freeway, the Class A building includes retail space on the first floor and 567 parking spaces.
The 12-story property is situated at the intersection of Interstate 635 and Dallas North Tollway. The surrounding area has several retail options including the Galleria shopping center, which is within walking distance.
Rodrigo Godoi and Kyle Campbell, directors of acquisitions at Mohr Capital, represented the company in-house, while Newmark Knight Frank Vice Chairmen Gary Carr, John Alvarado and Robert Hill worked on behalf of the seller. Last November, Godoi and Campbell facilitated the sale of a 460,000-square-foot net leased office building in suburban Cleveland, in one of the largest deals in the company’s history.