{"id":1004590734,"date":"2022-07-11T04:11:44","date_gmt":"2022-07-11T12:11:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004590734"},"modified":"2022-12-08T18:30:56","modified_gmt":"2022-12-09T02:30:56","slug":"the-swig-co-sells-dallas-area-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/the-swig-co-sells-dallas-area-office-asset\/","title":{"rendered":"The Swig Co. Sells Dallas-Area Office Asset"},"content":{"rendered":"<div id=\"attachment_1004590735\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/901-S.-Central-Expressway.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004590735\" data-attachment-id=\"1004590735\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the-swig-co-sells-dallas-area-office-asset\/901-s-central-expressway\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/901-S.-Central-Expressway-e1657539100973.jpg\" data-orig-size=\"640,480\" 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;\\u00a9 Yardi Systems, Inc.&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;0&quot;}\" data-image-title=\"901 S. Central Expressway\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;901 S. Central Expressway&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/901-S.-Central-Expressway-e1657539100973.jpg?w=640\" class=\"wp-image-1004590735 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/07\/901-S.-Central-Expressway.jpg?w=300\" alt=\"\" width=\"300\" height=\"240\"><\/a><p id=\"caption-attachment-1004590735\" class=\"wp-caption-text\">901 S. Central Expressway<\/p><\/div>\n<p><strong>The Swig Co.<\/strong> has sold Fossil Group\u2019s global headquarters in Richardson, Texas. A joint venture between <strong>JP Realty Partners<\/strong> and<strong> Liberty Bankers Insurance<\/strong> purchased the 536,000-square-foot office asset and <strong>Happy State Bank<\/strong> provided $42 million for the acquisition, according to <em>Dallas Morning News<\/em>. Senior Managing Director Andrew Levy of <strong>JLL<\/strong> represented the seller.<\/p>\n<p>Current owner of roughly 9 million square feet of office space across the Bay Area, Seattle, New York and Southern California, The Swig Co. purchased the asset in 2005. Fossil became its sole tenant roughly a decade ago, renovated the building and currently intends to sublease roughly 135,000 square feet at the property, according to the same local news article.<\/p>\n<p>Completed in 1971, the four-story office building went through cosmetic renovation in 2002, according to CommercialEdge data. The property includes surface and structured parking with a ratio of 4.06 spaces per 1,000 square feet, as well as 9 acres of vacant land.<\/p>\n<p>Situated on 29 acres at 901 S. Central Expressway, Fossil&#8217;s headquarters is some 12 miles north of downtown Dallas in the Telecom Corridor, just south of U.S. Route 75. Dallas Love Field Airport is some 13 miles southwest.<\/p>\n<p>Nearly 14.5 million square feet of office space traded in Dallas-Fort Worth in the first half of the year, according to <a href=\"https:\/\/www.commercialsearch.com\/news\/economic-headwinds-disrupt-office-sector\/\">CommercialEdge research<\/a>. Of the total, only 297,000 square feet changed hands in the Telecom Corridor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The building serves as Fossil Group&#8217;s global headquarters.<\/p>\n","protected":false},"author":3142,"featured_media":1004590735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21783,21742,21747],"tags":[32796,37511],"class_list":["post-1004590734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-investment","category-latest","category-office","tag-jll","tag-the-swig-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Swig Co. 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