DALLAS – Hartman Income REIT, Inc., a Houston based Real Estate Investment Trust, announced today that Hartman Short Term Properties XX, an affiliate, has purchased the Parkway Plaza I & II office buildings in Dallas from Merit Texas Properties.
“We are excited about making another investment along the Dallas North Tollway at the prominent Spring Valley intersection. The quality of this location enhances our portfolio and provides out newest fund with substantial upside potential through renovation and increasing occupancy,” said David Wheeler, EVP of Acquisitions and Finance
The project is a 136,283 sf, two building office property with JP Morgan Chase, as a key tenant.
Tom Strohbehn and Scot Farber of Cushman and Wakefield represented the seller and Dave Wheeler, Julian Kwok, and Matt Blasi represented the buyer, Hartman Short Term Properties XX.
Houston-based Hartman Income REIT is a $330 million trust which owns or manages 36 properties with 4.8 million sf of office, industrial and retail space in Texas.