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Transwestern/South Korean Partnership Buys State Farm Project for Over $800 Million

DALLAS – A partnership of Transwestern Investment Group and Seoul, South Korea-based Mirae Asset Global Investments Co, has acquired the new 2.2 million-square-foot State Farm Auto Insurance campus near Dallas for approximately $825 million in a sale-leaseback. The partnership acquired the four primary office/retail towers, with connected structured parking garages, located in the CityLine development, a 186-acre, mixed-use project developed ... Read More »

Dallas’ Hot Market: The Q&A with Arch-Con’s Robert Martin

For nearly two decades, Arch-Con Construction, a Texas-based general contractor specializing in commercial design and construction services for real estate developers, building owners, architects, brokers and tenants has had a major presence in Houston. The company currently has some 100,000 square feet of office buildings, eight hotels, more than 2 million square feet of industrial buildings, 750,000 square feet of ... Read More »

Dallas Galleria Office Towers Getting $19 Million Renovation

DALLAS – CBRE Global Investors has launched a $19 million renovation of the Galleria Office Towers, a 1.4 million, three-building office complex connected to the Westin Galleria Hotel in Dallas, near the LBJ Freeway. A CBRE Global Investors fund bought the Dallas buildings, which were developed by Hines, from Cannon Commercial in 2015 for about $300 million. The assets were ... Read More »

D-FW Retail Portfolio Sold: 11 Grocery-Anchored Centers

DALLAS – An affiliate of Pine Tree Commercial Realty bought a 756,865-square-foot grocery-anchored retail portfolio in the Dallas-Fort Worth Metroplex, the  CBRE Capital Markets’ National Retail Investment Group announced. The portfolio is comprised of 11 retail centers, each anchored by Tom Thumb. It is 97 percent occupied. The individual assets include: Heritage Heights in Colleyville Park West Plaza in Southlake Flower Mound Crossing and ... Read More »

Galleria Office Towers in Dallas Sell for $300 Million; CBRE Says Biggest Deal in Big D in 2015

DALLAS – CBRE Global Investors purchased the Galleria Office Towers, a 1.4 million square foot, three-building office complex adjacent to the Galleria Mall. The deal, with an estimated sales price over $300 million, was expected to be the largest office sale of the year in Dallas, says CBRE’s Gary Carr, who brokered the deal with John Alvarado, Eric Mackey and ... Read More »

CBRE Report: Dallas Unscathed by Oil Collapse

DALLAS – After a year of sliding and volatile oil prices, the commercial real estate fallout in energy markets is mixed across North America and by property type, but fears about widespread adverse impacts have not been realized, according to a new report from CBRE Group, Inc. The impact in Dallas/Ft. Worth has been minimal, as commercial real estate fundamentals ... Read More »

Dallas Penthouse Priced at $24 Million

DALLAS — The developers of Museum Tower, a 42-story high-rise condominium tower located in Dallas’ Arts District have priced the penthouse at $24 million. The penthouse, features 9,350 square feet of living space, a rooftop terrace and unobstructed views of the city’s Downtown and Uptown. Completed in 2013, the 100-unit building, 1918 Olive St., will soon be 50 percent sold ... Read More »

The Cali Connection: CoreLogic the Latest California Firm to Export Jobs to Dallas

DALLAS – CoreLogic, a California-based real estate information firm, reportedly is expected to move 1,600 employees into a new building in the Cypress Waters development on the LBJ Freeway in Dallas. Dallas has been on a California winning streak, drawing the North American headquarters of Toyota and Kubata Tractor from California to the D/FW area. CoreLogic would move into a ... Read More »

Republic Buys Project in Dallas’ White-Hot Apartment Market

DALLAS – HBP Rush Creek Hospitality Ltd., a California investor, has sold the 310-unit Rush Creek Apartments in Dallas to Republic Real Estate Fund II. Rush Creek is a 29-building complex set on 11 acres on Community Drive, a couple of miles north of Love Field airport. “The region’s apartment vacancy is at a 12-year low, which currently is fueling ... Read More »

Hines REIT Sells Dallas Building to Bradford; Uptown Tower is HQ of Balfour Beatty Construction

DALLAS – A Bradford Commercial Real Estate Services partnership has purchased the Citymark office building in Uptown Dallas from Hines Real Estate Investment Trust. The 11-story tower houses the U.S. headquarters of its largest tenant, Balfour Beatty Construction. CBRE Capital Markets’ Institutional Group represented Hines in the transaction. The office building offers a total of 218,926 rentable square feet and ... Read More »

CBRE Acquires UCR of Dallas

DALLAS – CBRE Group, Inc.  has acquired United Commercial Realty (UCR), a Dallas-based commercial real estate firm specializing in retail services. UCR manages retail properties for institutional investors nationally and provides brokerage services for them and for leading retailers across Texas and other markets. “The UCR professionals are a wonderful addition to our team in Texas and our national retail brokerage and property management ... Read More »

Hines, Cousins to JV Office Tower Project in Downtown Dallas

DALLAS – Hines, the Houston-based real estate firm, and Cousins Properties, the Atlanta-based REIT,  have formed a joint venture to develop the Victory Center office tower in the Uptown Dallas submarket. Designed by Duda/Paine Architects, Victory Center will be a 23-story, trophy office tower with approximately 466,000 rentable square feet of office and retail space and is expected to achieve ... Read More »

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