{"id":1004149090,"date":"2016-07-28T23:30:37","date_gmt":"2016-07-29T07:30:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004149090"},"modified":"2020-04-22T23:51:49","modified_gmt":"2020-04-23T07:51:49","slug":"office-tower-trades-near-downtown-dallas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/office-tower-trades-near-downtown-dallas\/","title":{"rendered":"Office Tower Trades Near Downtown Dallas"},"content":{"rendered":"<p>By Scott Baltic, Contributing Editor<\/p>\n<div id=\"attachment_1004149091\" style=\"width: 235px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/One-Victory-Park_Exterior.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004149091\" data-attachment-id=\"1004149091\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/office-tower-trades-near-downtown-dallas\/one-victory-park_exterior\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/One-Victory-Park_Exterior.jpg\" data-orig-size=\"660,880\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;6.3&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1332459301&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;32&quot;,&quot;iso&quot;:&quot;400&quot;,&quot;shutter_speed&quot;:&quot;1.6&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"One-Victory-Park_Exterior\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/One-Victory-Park_Exterior.jpg?w=660\" class=\"wp-image-1004149091 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/One-Victory-Park_Exterior.jpg\" alt=\"One Victory Park, Dallas\" width=\"225\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/One-Victory-Park_Exterior.jpg 660w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/One-Victory-Park_Exterior.jpg?resize=225,300 225w\" sizes=\"auto, (max-width: 225px) 100vw, 225px\" \/><\/a><p id=\"caption-attachment-1004149091\" class=\"wp-caption-text\">One Victory Park, Dallas<\/p><\/div>\n<p><strong>Dallas<\/strong>\u2014<a href=\"https:\/\/clarionpartners.com\/\" target=\"_blank\" rel=\"nofollow\">Clarion Partners<\/a>, on behalf of a commingled fund advised by the firm, has purchased a Class A office building in downtown Dallas, from <a href=\"https:\/\/www.hines.com\/\" target=\"_blank\" rel=\"nofollow\">Hines<\/a> and its partner, UST XVI, a German investment fund managed by Estein &amp; Associates USA, Hines announced Wednesday. The financials on the transaction were not disclosed.<\/p>\n<p>One Victory Park is a 17-story, 436,253-square-foot office building and an office anchor in the 75-acre <a href=\"https:\/\/victorypark.com\/\" target=\"_blank\" rel=\"nofollow\">Victory Park<\/a> mixed-use development. The tower reportedly is a short walk from the American Airlines Center, the W Dallas \u2013 Victory Hotel, restaurants, retail, and more than 1,700 multifamily units. The LEED Silver certified building was completed in October 2008 and currently is 95 percent leased. Amenities include a fitness center, conference center, 24\/7 staffed security and a six-story parking structure.<\/p>\n<p>Tenants include Ernst &amp; Young, international corporate law firm Haynes and Boone LLP, Plains Capital Corp., and <a href=\"https:\/\/www.hfflp.com\/\" target=\"_blank\" rel=\"nofollow\">HFF<\/a>.<\/p>\n<p>Hines was advised by HFF on the transaction, and Hines will remain the building\u2019s property manager.<\/p>\n<p>\u201cThere has been significant progress in the retail area in Victory Park, which we believe made this building a very attractive asset for such high-quality buyers as Clarion,\u201d Lance Fair, COO of Estein &amp; Associates and vice president of Victory Park, said in a prepared statement.<\/p>\n<p>In May, Victory Park announced that Rebees, a new company associated with Dallas entrepreneur Tristan Simon, will develop and operate a new 6,000-square-foot restaurant concept, a 4,000-square-foot retail emporium focusing on locally made goods, and a new 14,000-square-foot co-working office space concept that will include a 3,500-square-foot cafe. All three ventures reportedly will open in the second half of 2017.<\/p>\n<p>And in June, a Nardos Design boutique opened on Victory Park Lane. The boutique offers designer Nardos Imam\u2019s bridal, evening wear and cocktail collections.<\/p>\n<p>Plenty more is in the pipeline at Victory Park. On the office side, Hines will be developing another office building, adjacent to One Victory Park. Victory Center will be a 22-story, 455,000-square-foot tower, designed by Duda\/Paine Architects.<\/p>\n<p>Construction is underway on a multi-level mixed-use building that will include an eight-screen, 750-seat movie theater; 285 apartments; and 20,000 square feet of ground-floor retail.<\/p>\n<p>Also under way is a parking garage across from the W Dallas \u2013 Victory Hotel that will also feature 22,000 square feet of retail and restaurant space.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Clarion Partners has acquired One Victory Park, a 17-story office building at 2323 Victory Ave.<\/p>\n","protected":false},"author":882,"featured_media":1004149091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21782,21808,21752,21742,21747],"tags":[],"class_list":["post-1004149090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-development","category-featured","category-mixed-use","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. 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