A Frisco investor has purchased a high-profile North Dallas workplace tower.
The eight-story Crosspoint Atrium at 8131 LBJ Freeway is on the northwest nook of LBJ and U.S. Freeway 75.
In-built 1980, the 232,000-square-foot workplace constructing is greater than 60% leased to quite a lot of tenants.
Frisco-based Gateway Companions LLL, headed by investor Noel Yi, acquired the constructing from a partnership arrange by SkyWalker Property Companions of Arlington. SkyWalker Property had owned the constructing since 2019 and spend about $1.3 million in upgrades to the property.
Credit score Union of Texas was a longtime tenant within the constructing.
“MultiTenant workplace buildings current challenges as of late, so we determined to pare again our investments in that sector,” William Welder, acquisitions director for SkyWalker Property, stated in an announcement. “The LBJ mission introduced a robust value-add alternative for the precise purchaser.”
Tom Strohbehn of Youthful Companions brokered the sale with Dave Van Etten of Trinity Pursuits.
Welder stated the brand new proprietor has different industrial properties. “He made a aggressive supply and was in a position to carry out,” Welder stated.
The North Dallas constructing is the newest Dallas-Fort Value workplace property to alter fingers.
By way of the primary quarter, greater than $1.1 billion in D-FW workplace properties have modified fingers.