The building's chief selling point was the 95% occupancy and no lease roll until mid-2008, according to Robert Giusti, an associate and analyst with the Santa Ana, CA-based Triple Net. He tells GlobeSt.com that US Bank has a hold on more than half of the 1255 Corporate Dr. building until 2015. "That's one of the things that attracted us to this building--the long-term stability," he says. "We looked at the entire portfolio, but this is the only asset that we wanted to purchase."

Triple Net's plan is a five-year hold, adds Brendan Considine, the TIC group's acquisitions director. To make the close, the buying group leveraged the deal through Chicago-based LaSalle Bank. Eric Tupler with CBRE Melody in Denver arranged financing. Andrew Levy, executive managing director for Holliday Fenoglio Fowler LP, in Dallas brokered the deal for the Plymouth Meeting, PA-based Brandywine, which is selling its inherited inventory in Dallas/Fort Worth.

In late June, Triple Net paid nearly $180 per sf for Las Colinas Highlands at 6191 State Highway 161, situated about two miles to the northwest. "We're a strong believer in the Las Colinas market and the stabilization of the asset itself," says Considine, citing the upside in filling the 5% vacancy and nudging rents as leases roll.

The duo says the leasing assignment has yet to be awarded. Triple Net's Texas team will manage the six-story building on 5.3 acres, which also houses MedSynergies Inc. and Excentus Corp.