{"id":1004125607,"date":"2015-08-19T05:57:25","date_gmt":"2015-08-19T13:57:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004125607"},"modified":"2020-05-18T22:06:21","modified_gmt":"2020-05-19T06:06:21","slug":"buchanan-street-makes-waves-in-dallas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/buchanan-street-makes-waves-in-dallas\/","title":{"rendered":"Buchanan Street Makes Waves in Dallas"},"content":{"rendered":"<p><em>By Keith Loria, Contributing Editor<\/em><em> <\/em><\/p>\n<div id=\"attachment_1004125609\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Tim-Ballard.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004125609\" data-attachment-id=\"1004125609\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/buchanan-street-makes-waves-in-dallas\/tim-ballard\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Tim-Ballard.jpg\" data-orig-size=\"406,336\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D4&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1401181712&quot;,&quot;copyright&quot;:&quot;MORA 2012&quot;,&quot;focal_length&quot;:&quot;200&quot;,&quot;iso&quot;:&quot;800&quot;,&quot;shutter_speed&quot;:&quot;0.004&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Tim Ballard\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Tim Ballard&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Tim-Ballard.jpg?w=406\" class=\"size-thumbnail wp-image-1004125609\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Tim-Ballard.jpg\" alt=\"Tim Ballard\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004125609\" class=\"wp-caption-text\">Tim Ballard, Buchanan Street Partners<\/p><\/div>\n<p><a href=\"https:\/\/www.buchananstreet.com\/\" rel=\"nofollow\" target=\"_blank\">Buchanan Street Partners<\/a> has acquired Richardson Office Center I &amp; II, a 238,301-square-foot campus located in Richardson, Texas, in a partnership with CarVal Investors from Principal Real Estate Investors, for an undisclosed amount.<\/p>\n<p>This is Buchanan Street\u2019s second purchase in the greater Dallas area in 2015, following its February acquisition of the 240,000-square-foot Granite Tower along the LBJ Freeway.<\/p>\n<p>\u201cIf you look at Dallas, it\u2019s one of the greatest job generators in our country today, and it\u2019s expected to continue to be that way,\u201d Tim Ballard, Buchanan Street Partners\u2019 president &amp; co-founder, told <em>Commercial Property Executive<\/em>. \u201cMajor companies are coming to Dallas so there\u2019s tremendous demand and it really hasn\u2019t been met with a lot of construction in the marketplace.\u201d<\/p>\n<p>Located at 3001 and 3101 E. President George Bush Highway, the campus is currently 90 percent occupied by high-credit tenants including Boeing, Genpact and Avnet. Richardson Office Center also boasts a parking ratio of six parking spaces per 1,000 square feet.<\/p>\n<p>\u201cCompany-wide, we are looking to do two things. We invest in markets that aren\u2019t gateway cities\u2014like Dallas or Denver or Phoenix\u2014a lot because we don\u2019t have that much competition and get better value for it,\u201d Ballard said. \u201cThe second thing we look for is markets we believe will help us from an economic growth engine standpoint and create demand for our real estate.\u201d<\/p>\n<p>According to Ballard, Buchanan Street plans to complete modest renovations to the two-building campus including painting the exterior of the buildings and making lobby upgrades.<\/p>\n<p>\u201cIt\u2019s modest. They were built in 1999 and 2000 between the two and we will bring them to a fresher standard,\u201d he added. \u201cOver time we will put in more capital.\u201d<\/p>\n<p>The Far North Dallas submarket has been experiencing strong positive absorption and growth in rental rates causing a wider-than-normal price gap compared to Richardson, so companies in search of better real estate value have moved to Richardson because of its affordability and projected growth. Ballard said the company will continue to buy in the area, with hopes of closing another $100 million in acquisitions there in 2015.<\/p>\n<p>Gary Carr and Robert Hill of CBRE represented the seller in the transaction, and Buchanan Street represented itself.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buchanan Street Partners has made its second purchase in Big D.<\/p>\n","protected":false},"author":451,"featured_media":1004125609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747],"tags":[],"class_list":["post-1004125607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Buchanan Street Makes Waves in Dallas - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/buchanan-street-makes-waves-in-dallas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buchanan Street Makes Waves in Dallas\" \/>\n<meta property=\"og:description\" content=\"Buchanan Street Partners has made its second purchase in Big D.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/buchanan-street-makes-waves-in-dallas\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-19T13:57:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T06:06:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Tim-Ballard.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"406\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/buchanan-street-makes-waves-in-dallas\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/buchanan-street-makes-waves-in-dallas\\\/\"},\"author\":{\"name\":\"Keith Loria\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"headline\":\"Buchanan Street Makes Waves in Dallas\",\"datePublished\":\"2015-08-19T13:57:25+00:00\",\"dateModified\":\"2020-05-19T06:06:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/buchanan-street-makes-waves-in-dallas\\\/\"},\"wordCount\":389,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/buchanan-street-makes-waves-in-dallas\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/Tim-Ballard.jpg\",\"articleSection\":[\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/buchanan-street-makes-waves-in-dallas\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/buchanan-street-makes-waves-in-dallas\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/buchanan-street-makes-waves-in-dallas\\\/\",\"name\":\"Buchanan Street Makes Waves in Dallas - 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