{"id":1004697930,"date":"2024-01-18T04:24:23","date_gmt":"2024-01-18T12:24:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004697930"},"modified":"2024-01-18T04:24:25","modified_gmt":"2024-01-18T12:24:25","slug":"goldman-sachs-sells-dfw-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/","title":{"rendered":"Goldman Sachs Sells DFW Office Asset"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1be87eb1e63&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004697990\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/parkway-centre-iv\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg\" data-orig-size=\"1000,750\" 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;1581516850&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;0&quot;}\" data-image-title=\"Parkway Centre IV\" data-image-description=\"&lt;p&gt;Parkway Centre IV is a 153,238-squate-foot office building in Plano, Texas.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The property went through $2 million in capital improvements recently. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg?w=1000\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg\" alt=\"Parkway Centre IV is a 153,238-squate-foot office building in Plano, Texas.\" class=\"wp-image-1004697990\" style=\"aspect-ratio:4\/3;object-fit:cover;width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Parkway Centre IV recently went through $2 million in capital improvement plan. <em>Image courtesy of Newmark<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><strong>Goldman Sachs Asset Management<\/strong> has sold Parkway Centre IV, a 153,238-square-foot office building in Plano, Texas, to <strong>BH Properties<\/strong>, according to CommercialEdge data. <strong>Newmark <\/strong>facilitated the deal on behalf of the seller.<\/p>\n\n\n\n<p>Goldman Sachs acquired the property in 2013 from GID, the same source shows.<\/p>\n\n\n\n<p>The six-story building came online in 2006 and went through a $2 million capex program during the last three years, which included the addition of an amenity center on the last floor. Other features of the Class A property consist of 26,231-square-foot average floorplates, three passenger elevators, tenant lounge, conference room and about 700 parking spaces.<\/p>\n\n\n\n<p>The property was 82 percent leased at the time of sale. Tenants include Delta General Agency Corp., Guardian Mortgage, National Business Research Institute and Independent Financial, according to the same source.<\/p>\n\n\n\n<p>The building sits on 6.6 acres at 2701 Dallas Parkway, close to a host of dining and retail opportunities, including The Shops at Willow Bend and Polo Towne Crossing shopping centers. \u00a0Dallas\/Fort Worth International Airport is within 22 miles, while downtown Dallas is some 20 miles southeast.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-recent-deals-in-the-metroplex\">Recent deals in the Metroplex<\/h2>\n\n\n\n<p>Newmark\u2019s brokerage team included Vice Chairmen Chris Murphy, Robert Hill and Gary Carr. The trio also represented M-M Properties in the sale of Plaza of The Americas, a <a href=\"https:\/\/www.commercialsearch.com\/news\/m-m-properties-sells-1-2-msf-office-building-in-dallas\/\">1.2 million-square-foot office asset <\/a>in downtown Dallas.<\/p>\n\n\n\n<p>In March, Reserve Capital Partners and Trinity Investors purchased Crestview Tower, a <a href=\"https:\/\/www.commercialsearch.com\/news\/irving-262ksf-office-asset-changes-hands\/\">262,962-square-foot building<\/a> in Irving, Texas. CapRidge Partners was the seller.<\/p>\n\n\n\n<p>Some 8.5 million square feet of office space transacted last year through November, amounting to a sales volume of $158 million, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/dallas-office-market-gives-off-mixed-signals\/\">Dallas market update<\/a>. The transaction volume fell sharply from the almost $2.3 billion registered in 2022 during the same period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Class A building came online in 2005.<\/p>\n","protected":false},"author":3355,"featured_media":1004697990,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21783,21742,21747,51973],"tags":[33765,51776,50999],"class_list":["post-1004697930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-investment","category-latest","category-office","category-southwest","tag-bh-properties","tag-goldman-sachs-asset-management","tag-newmark"],"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>Goldman Sachs Sells DFW Office Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Goldman Sachs Asset Management has sold Parkway Centre IV, a 153,238-square-foot office asset in Plano, Texas.\" \/>\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-sells-dfw-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 Sells DFW Office Asset\" \/>\n<meta property=\"og:description\" content=\"Goldman Sachs Asset Management has sold Parkway Centre IV, a 153,238-square-foot office asset in Plano, Texas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-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=\"2024-01-18T12:24:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-18T12:24:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/\",\"name\":\"Goldman Sachs Sells DFW Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg\",\"datePublished\":\"2024-01-18T12:24:23+00:00\",\"dateModified\":\"2024-01-18T12:24:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"Goldman Sachs Asset Management has sold Parkway Centre IV, a 153,238-square-foot office asset in Plano, Texas.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-sells-dfw-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/Parkway-Centre-IV.jpg\",\"width\":1000,\"height\":750,\"caption\":\"The property went through $2 million in capital improvements recently. 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