{"id":1004203456,"date":"2018-01-12T07:23:50","date_gmt":"2018-01-12T15:23:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203456"},"modified":"2022-12-08T07:53:19","modified_gmt":"2022-12-08T15:53:19","slug":"goldman-sachs-jv-nabs-dallas-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-jv-nabs-dallas-office-asset\/","title":{"rendered":"Goldman Sachs JV Nabs Dallas Office Asset"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004203457\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2401-Cedar-Springs.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004203457\" data-attachment-id=\"1004203457\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-jv-nabs-dallas-office-asset\/2401-cedar-springs\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2401-Cedar-Springs.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" 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;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"2401 Cedar Springs\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2401 Cedar Springs&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2401-Cedar-Springs.jpg?w=800\" class=\"wp-image-1004203457 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2401-Cedar-Springs.jpg\" alt=\"2401 Cedar Springs\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2401-Cedar-Springs.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2401-Cedar-Springs.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2401-Cedar-Springs.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004203457\" class=\"wp-caption-text\">2401 Cedar Springs<\/p><\/div>\n<p>A joint venture between Goldman Sachs and Crescent Real Estate has purchased an office building in Dallas\u2019 Uptown neighborhood. The 180,397-square-foot 2401 Cedar Springs was constructed in 1987 as the headquarters for the previous owner, Guidestone Financial Resources, which continues to occupy the building. Following the short-term lease\u2019s termination, the\u00a0property will be redeveloped.<\/p>\n<p>Located at 2401 Cedar Springs Road, the\u00a0asset is less than a mile from\u00a0interstates 345 and 35 East as well as the Dallas North Tollway, offering convenient access across the region. Several restaurants, Hotel Crescent Court and the city\u2019s trolley system are within walking distance. Bus stops can be found adjacent to the property.<\/p>\n<h2>Planned improvements\u00a0<\/h2>\n<p>The joint venture plans to renovate the common areas and the facade, and add new on-site amenities. Guidestone will move its headquarters this summer at the Pinnacle Tower in North Dallas, where it will occupy 115,000 square feet.<\/p>\n<p><em>\u201cAs one of the best located existing office buildings in Uptown Dallas, 2401 provides unmatched access and convenience to one of the region\u2019s most desirable submarkets. Once the short-term lease ends, the entire building will be available for lease, making this building an incredible opportunity to prospects once we complete the building upgrades as planned,\u201d<\/em> said John Zogg, managing director with Crescent, in a prepared statement.<\/p>\n<p>In the past year, Goldman Sachs has made several acquisitions together with its partners, including a <a href=\"https:\/\/www.commercialsearch.com\/news\/harbor-goldman-sachs-close-50m-off-market-transaction\/\">historical commercial building<\/a> in Denver.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is a single-tenant building soon to be vacated. The new owners plan to renovate the facade and add new on-site amenities.<\/p>\n","protected":false},"author":861,"featured_media":1004203457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21742,21747],"tags":[36351,38853,33435],"class_list":["post-1004203456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-latest","category-office","tag-capital-improvement","tag-crescent-real-estate-holdings","tag-goldman-sachs"],"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>Goldman Sachs JV Nabs Dallas Office Asset - 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\/goldman-sachs-jv-nabs-dallas-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goldman Sachs JV Nabs Dallas Office Asset\" \/>\n<meta property=\"og:description\" content=\"The property is a single-tenant building soon to be vacated. The new owners plan to renovate the facade and add new on-site amenities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-jv-nabs-dallas-office-asset\/\" \/>\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=\"2018-01-12T15:23:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T15:53:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/2401-Cedar-Springs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\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\\\/goldman-sachs-jv-nabs-dallas-office-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/goldman-sachs-jv-nabs-dallas-office-asset\\\/\"},\"author\":{\"name\":\"Jeff Hamann\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"headline\":\"Goldman Sachs JV Nabs Dallas Office Asset\",\"datePublished\":\"2018-01-12T15:23:50+00:00\",\"dateModified\":\"2022-12-08T15:53:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/goldman-sachs-jv-nabs-dallas-office-asset\\\/\"},\"wordCount\":256,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/goldman-sachs-jv-nabs-dallas-office-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/2401-Cedar-Springs.jpg\",\"keywords\":[\"Capital improvement\",\"Crescent Real Estate Holdings\",\"Goldman Sachs\"],\"articleSection\":[\"Dallas\",\"Deals\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/goldman-sachs-jv-nabs-dallas-office-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/goldman-sachs-jv-nabs-dallas-office-asset\\\/\",\"name\":\"Goldman Sachs JV Nabs Dallas Office Asset - 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