Dallas – Houston-based Boxer Property acquired two office buildings in Dallas — Office Alpha in North Dallas, 13140 Coit Road and 14800 Quorum in the Quorum Business Park.
Office Alpha is 101,977 square foot five story office building currently 84 percent occupied and boasts numerous recent renovations. Office Alpha is centrally located just a few minutes of the Dallas High Five, with easy access to I-635 and U. S. Highway 75 (Central Expressway).
14800 Quorum is 103,964 square foot five story office building currently 96 percent occupied and boasts numerous recent renovations. 14800 Quorum is located in the prestigious Quorum Business Park just a few minutes of the Belt Line area of Addison, with easy access the Dallas Tollway, and I-635. Mike Hardage and Steve Simon of Transwestern represented the Seller, KBS Realty Advisors, and Boxer Property represented itself in both purchases.
The purchase of 13140 Coit and 14800 Quorum were not a standard purchase for Boxer as the buildings were already stabilized at purchase. “Normally we are a distressed or value add buyer but we have realized that there is opportunity to buy good quality stabilized class B buildings for very attractive going in cap rates. We don’t know how long this opportunity will last but we will definitely look to purchase more of this product,” said Andre Periera, lead acquisitions manager for Boxer.