{"id":1004049188,"date":"2012-10-30T07:20:39","date_gmt":"2012-10-30T15:20:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004049188"},"modified":"2022-12-06T10:47:40","modified_gmt":"2022-12-06T18:47:40","slug":"cbre-acquires-369-ksf-of-dallas-area-buildings","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-acquires-369-ksf-of-dallas-area-buildings\/","title":{"rendered":"CBRE Acquires 369 KSF of Dallas-Area Buildings"},"content":{"rendered":"<p align=\"left\"><em>Lynn Armitage, Contributing Editor<\/em><\/p>\n<p align=\"left\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004049281\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-acquires-369-ksf-of-dallas-area-buildings\/circle_drive_1-1-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg\" data-orig-size=\"2700,1796\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Circle_Drive_1 (1)\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?w=1024\" class=\"alignleft size-medium wp-image-1004049281\" title=\"Circle_Drive_1 (1)\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg\" alt=\"\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg 2700w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=768,511 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=1024,681 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=1536,1022 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=2048,1362 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=150,100 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=696,463 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=1068,710 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=1920,1277 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/10\/Circle_Drive_1-11.jpg?resize=631,420 631w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p align=\"left\">Everything\u2019s bigger in the Lone Star State, and so goes a recent transaction between Equity Office Properties Trust and a CBRE Global Investors Fund, which bought two Class A office buildings in North Dallas totaling 369,000 square feet for an undisclosed amount.<\/p>\n<p align=\"left\">The property, known as Tollway Plaza I and II, is located at 15950 and 16000 N. Dallas Parkway and is an eight-story structure that was built in the late 1990s.\u00a0 Officials say the buildings are in excellent condition and will require minimal upgrades. Current amenities include a four-level parking garage, 25,000-square-foot floorplates and an adjacent 2.6-acre parcel of land that could become a third tower.<\/p>\n<p align=\"left\">The fund that bought the office buildings is part of CBRE Strategic Partners U.S. and the team plans to reposition the property to meet the anticipated demand for office space in Dallas.<\/p>\n<p align=\"left\">\u00a0\u201cThis purchase of a newer vintage building in excellent condition gives us an ideal opportunity to expand our presence in the Dallas area,\u201d said Vance Maddocks, president of CBRE Strategic Partners U.S.<\/p>\n<p>The fund plans to rebrand the property to meet the standards of its signature 5-Star Worldwide program, which includes amenity upgrades such as a concierge service, a building conference center and an information conduit. It also plans to pursue LEED certification.<\/p>\n<p>According to Dallasnews.com, Tollway Plaza is more than 90 percent leased by well-known tenants, such as Sun Microsystems Inc., Stewart Title North Texas Inc. and HQ Global Workplaces.<\/p>\n<p>The online news source says CBRE Global also owns the Urban Towers in Las Colinas and Sterling Plaza and Preston Commons in Preston Center.<\/p>\n<p align=\"left\">CBRE Global Investors is a Los Angeles-based global real estate investment management firm with $91.2 billion in assets under management as of June 30, 2012. It is an independently operated affiliate of CBRE Group, Inc. and trades on the New York Stock Exchange under the symbol CBG.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Everything\u2019s bigger in the Lone Star State, and so goes a recent transaction between Equity Office Properties Trust and a CBRE Global Investors Fund, which bought two Class A office buildings in North Dallas totaling 369,000 square feet for an undisclosed amount.<\/p>\n","protected":false},"author":952,"featured_media":1004049281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,21742,21747,21786],"tags":[],"class_list":["post-1004049188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-latest","category-office","category-sustainability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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