Regent Properties Sells Suburban Dallas Office Asset
- Nov 05, 2019
Regent Properties has sold Bent Tree Tower Two, a 167,417-square-foot office building in Addison, Texas, to a Hudson Peters Commercial partnership, according to The Dallas Morning News. The asset last changed hands in 2012, when Regent purchased the property out of foreclosure from GE Capital, Yardi Matrix data shows.
Located at 16479 Dallas Parkway, adjacent to the Addison Airport and close to a dense residential area, the eight-story building is almost 17 miles north of downtown Dallas and serves roughly 380,000 residents within a 5-mile radius. Completed in 1981 on a 5.4-acre site, the asset recently underwent a $4.7 million renovation process, which included updates to the lobby and amenities, as well as mechanical improvements. The tenant roster consists of diverse businesses such as Forney Corp., Origin Bank, Hyphen Solutions, ARMOR Wealth Management and Liberty Property Trust.
This summer, Regent Properties acquired Park Towers in Houston for $89.5 million. The half-empty, 545,242-square-foot office tower was developed in the early 1970’s by Tenneco.