After recording 1.7 million square feet of deals during a strong March, Dallas-Fort Worth took office transactions to the next level. CommercialEdge data shows seven properties totaling 2,869,431 square feet changed hands in April, marking a 65.3 percent rise month-over-month.
The traded square footage was 125.5 percent higher year-over-year, as 1,272,376 square feet had sold across the Metroplex in April 2020.
While deals concerned all types of property classes, seven of the 13 traded buildings were Class A assets. Suburban locations were slightly more present in the transaction mix, with four properties totaling 936,137 square feet in Dallas, Irving and Richardson.
The largest property changing hands in April was Burnett Plaza, a 1 million-square-foot high-rise in Fort Worth. Opal Holdings acquired the Class A, LEED Silver-certified property from Cousins, in a $137.5 million transaction financed with a $86 million loan from UMB Bank. Cousins had become the building’s owner in 2019, following its merger with TIER REIT.
CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report here. We included properties of 25,000+ square feet in our research.