{"id":1004736000,"date":"2024-11-06T04:54:16","date_gmt":"2024-11-06T12:54:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004736000"},"modified":"2024-11-06T07:05:57","modified_gmt":"2024-11-06T15:05:57","slug":"dallas-office-trio-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dallas-office-trio-changes-hands\/","title":{"rendered":"Dallas Office Trio Changes Hands"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/International-Business-Park-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004736150\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/international-business-park-5\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/International-Business-Park-1-edited.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=\"International Business Park\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/International-Business-Park-1-edited.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/International-Business-Park-1-edited.jpg\" alt=\"Exterior shot of 4100 Midway Road in Carrollton, Texas.\" class=\"wp-image-1004736150\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/International-Business-Park-1-edited.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/11\/International-Business-Park-1-edited.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption class=\"wp-element-caption\">One of the office buildings that changed hands is at 4100 Midway Road. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Billingsley Co. has sold International Business Park 8, 9&nbsp;and 10, a three-asset, 304,099-square-foot office portfolio in Carrollton, Texas, a Dallas submarket. Newmark represented the seller.<\/p>\n\n\n\n<p>The buildings were 79 percent leased to multiple credit-quality tenants at the time of closing, with a five-year average occupancy rate of 85 percent.<\/p>\n\n\n\n<p>The properties are part of International Business Park, Billingsley\u2019s 300-acre mixed-use campus that comprises 13 office buildings totaling more than 1.7 million square feet, 174,000 square feet of retail space and 940 residential units.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/office-vacancy-rates-on-the-rise\/\">Office Vacancy Rates On The Rise<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>All three two-story buildings came online in 2001. The 103,916-square-foot property at 4100 Midway Road has floorplates averaging 52,000 square feet and an outdoor grilling and seating area. The other two assets, the 100,378-square-foot 4100 International Parkway and the 99,804-square-foot 4120 International Parkway, feature floorplans averaging 51,000 square feet. <\/p>\n\n\n\n<p>The building trio is along the Dallas North Tollway and some 17 miles from the DFW International Airport. Downtown Dallas is less than 21 miles southeast.<\/p>\n\n\n\n<p>Newmark Vice Chairmen Chris Murphy, Robert Hill and Gary Carr represented the seller.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-office-sales-activity-in-dfw-remains-strong\">Office sales activity in DFW remains strong<\/h2>\n\n\n\n<p>The Dallas-Fort Worth market ranked fourth nationally in terms of <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-office-transactions\/\">office investment volume<\/a>, reaching roughly $1.1 billion year-to-date as of September, according to the latest <a href=\"https:\/\/www.commercialedge.com\/blog\/national-office-report\/\">CommercialEdge office report<\/a>. However, assets in the metro traded for $128 per square foot on average, well below the $171 national figure.<\/p>\n\n\n\n<p>In September, <a href=\"https:\/\/www.commercialsearch.com\/news\/shorenstein-buys-388-ksf-dallas-office-asset\/\">Shorenstein acquired International Plaza 15<\/a>, a 388,000-square-foot office tower in Dallas. Taconic Capital sold the 15-story asset in a JLL-brokered deal.<\/p>\n\n\n\n<p>More recently, the tallest building in Fort Worth, Texas, changed hands.<a href=\"https:\/\/www.commercialsearch.com\/news\/fort-worths-tallest-building-changes-hands\/\"> Pinnacle Bank Texas sold<\/a> the 1.1 million-square-foot, 40-story Burnett Plaza several months after having purchased it at a foreclosure auction for $12.3 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buildings are part of a 300-acre campus that includes more than 1.7 million square feet of office space.<\/p>\n","protected":false},"author":3355,"featured_media":1004736150,"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":[34157,37946,50999],"class_list":["post-1004736000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-investment","category-latest","category-office","category-southwest","tag-billingsley-company","tag-gary-carr","tag-newmark"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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