The Des Moines investment team has secured the class A building on the insurance company's behalf. No one's talking price, but the fully leased status and positioning in one of the most highly sought high-tech addresses make it a premier buy. The seller of record is Cardinal Shilo 190 II Inc., a Texas corporation.

"It was a good match for the client," Mark Hanrahan, a principal in Principal Capital Real Estate, tells GlobeSt.com. It's the second match that the Des Moines investment company has made in recent weeks, closing on the 449-unit Phoenix in Dallas' Midtown. "Long term, we think the growth prospects are good in Dallas," says Hanrahan. He's not pinpointing a closing date, but does say that three or four more properties, primarily multifamily projects, are being eyed for acquisitions.

The Richardson Office Center II went to the highest bidder and did not carry an asking price, says Hanrahan. He is uncertain how many buyers had their names in the hat for the holding, located on nine acres at 3001 State Highway 190 near FM 1201 E. Myers & Crow Co. Ltd. constructed the building in 1999, a sister to Richardson Office Center I that was sold in fall 2000.